DELAFIELD, Wis. (Stockpickr) -- Every day on Wall Street, there are stocks trading for under $10 a share that experience massive spikes higher. Traders savvy enough to follow the low-priced names and trade them with discipline and sound risk management are banking ridiculous coin on a regular basis.

Just take a look at some of the big movers in the under-$10 complex from Wednesday, including One Horizon Group (OHGI) , which exploded to the upside by 87%; Lucas Energy (LEI) , which surged to the upside by 51%; FreeSeas (FREE) , which roared higher by 32%; and 6D Global Technologies (SIXD) , which spiked sharply higher by 26%. You don't even have to catch the entire move in lower-priced stocks such as these to make outsized returns when trading.

Low-priced stocks are something that I tweet about on a regular basis. I frequently flag high-probability setups, breakout candidates and low-priced stocks that are acting technically bullish. I like to hunt for low-priced stocks that are showing bullish price and volume trends, since that increases the probability of those stocks heading higher. These setups often produce monster moves higher in very short time frames.

When I trade under-$10 names, I do it almost entirely based off of the charts and technical analysis. I also like to find under-$10 names with a catalyst, but that's secondary to the chart and volume patterns.

With that in mind, here's a look at several under-$10 stocks that look poised to potentially trade higher from current levels.

Xunlei Limited

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One under-$10 technology stock that's starting to move within range of triggering a near-term breakout trade is Xunlei Limited (XNET) - Get Report , which operates a consumer Internet platform for digital media content in China. This stock has been hammered lower over the last six months, with shares down by 41%.

If you take a glance at the chart for Xunlei Limited, you'll notice that this stock has been trying to carve out a bottom over the last few weeks, with shares finding buying interest at $7.32, $7.27 and near $7 a share. This attempted bottom is coming after shares of XNET fell sharply from last September to December from over $14 to its all-time low of $6.56 a share. Shares of XNET are now starting to bounce higher off those recent support levels and it's now beginning to move within range of triggering a near-term breakout trade above some key overhead resistance levels.

Traders should now look for long-biased trades in XNET if it manages to break out above its 50-day moving average of $7.89 a share and then above more key resistance levels at $8.50 to $8.84 a share with high volume. Look for a sustained move or close above those levels with volume that hits near or above its three-month average action of 207,502 shares. If that breakout develops soon, then XNET will set up to re-test or possibly take out its next major overhead resistance levels at $10 to $10.99 a share, or even $11.50 a share.

Traders can look to buy XNET off weakness to anticipate that breakout and simply use a stop that sits just below $7 a share, or near that all-time low of $6.56 a share. One can also buy XNET off strength once it starts to take out those breakout levels with volume and then simply use a stop that sits a comfortable percentage from your entry point.

Natural Resource Partners

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An under-$10 basic materials stock that's starting to trend within range of triggering a near-term breakout trade is Natural Resource Partners (NRP) - Get Report , which owns, manages and leases mineral properties in the U.S. This stock has been hit hard by the sellers over the last six months, with shares down sharply by 44%.

If you take a look at the chart for Natural Resource Partners LP, you'll notice that this stock recently formed a double bottom chart pattern after shares found buying interest at $7.67 to $7.68 a share. That bottom formed after shares of NRP dropped sharply lower from its last November high of $13.31 to its recent low of $7.67 a share. Shares of NRP have now started to rebound off those double bottom support levels and it's beginning to trend within range of triggering a near-term breakout trade.

Market players should now look for long-biased trades in NRP if it manages to break out above some key near-term overhead resistance levels at $9.24 to $9.27 a share and then above its 50-day at $9.42 a share and over more resistance at $9.44 a share with high volume. Look for a sustained move or close above those levels with volume that registers near or above its three-month average action 712,768 shares. If that breakout materializes soon, then NRP will set up to re-test or possibly take out its next major overhead resistance levels at $10 to $10.50 a share, or even $11.50 a share.

Traders can look to buy NRP off weakness to anticipate that breakout and simply use a stop that sits right below some key near-term support at $8.56 a share, or near its recent low of $7.67 a share. One can also buy NRP off strength once it starts to clear those breakout levels with volume and then simply use a stop that sits a comfortable percentage from your entry point.

Neothetics

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One under-$10 clinical-stage specialty pharmaceutical stock that's quickly moving within range of triggering a big breakout trade is Neothetics (NEOT) , which engages in developing therapeutics for the aesthetic market. This stock has been smoked by the bears over the last three months, with shares moving sharply lower by 42%.

If you take a glance at the chart for Neothetics, you'll notice that this stock has plunged sharply lower off its last November high of $14 to its all-time low of $6.11 a share. During that downtrend, shares of NEOT have been consistently making lower highs and lower lows, which is bearish technical price action. That said, shares of NEOT have now started to consolidate and trend sideways over the last month, with shares moving between $6.42 on the downside and around $8 on the upside. This stock has now started to spike higher above its range low of $6.42 and it's beginning to move within range of triggering a big breakout trade above a key downtrend line.

Traders should now look for long-biased trades in NEOT if it manages to break out above some key near-term overhead resistance levels at $7 to $7.17 a share and then above more resistance levels at $7.50 to $7.59 a share with high volume. Look for a sustained move or close above those levels with volume that hits near or above its three-month average volume of 110,910 shares. If that breakout gets started soon, then NEOT will set up to re-test or possibly take out its next major overhead resistance levels at $8.90 to $10 a share.

Traders can look to buy NEOT off weakness to anticipate that breakout and simply use a stop that sits right below some key near-term support at $6.42 a share or near its all-time low of $6.11 a share. One can also buy NEOT off strength once it starts to move above those breakout levels with volume and then simply use a stop that sits a comfortable percentage from your entry point.

J.C. Penney

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Another under-$10 department stores player that's starting to trend within range of triggering a near-term breakout trade is J.C. Penney (JCP), which sells merchandise through department stores in the U.S. This stock has been moving to the downside over the last six months, with shares sliding notably lower by 15.4%.

If you look at the chart for J.C. Penney, you'll see that this stock recently gapped up sharply higher from under $6.50 to about $8 a share with heavy upside volume. Following that move, shares of JCP have now started to form a bottoming chart pattern right around its 50-day moving average, with shares finding buying interest at $7.14 to $7 a share. Shares of JCP broke out on Wednesday after the stock took out some near-term overhead resistance at $7.77 a share. That move is now quickly pushing shares of JCP within range of triggering a much bigger breakout trade.

Market players should now look for long-biased trades in JCP if it manages to break out above some key near-term overhead resistance levels at $8.30 a share to its 200-day moving average of $8.48 a share with high volume. Look for a sustained move or close above those levels with volume that registers near or above its three-month average action of 16.02 million shares. If that breakout kicks off soon, then JCP will set up to re-test or possibly take out its next major overhead resistance levels at $9.50 to $10 a share, or even $10.50 to $11 a share.

Traders can look to buy JCP off weakness to anticipate that breakout and simply use a stop that sits right below its 50-day moving average of $7.12 a share or just below $7 a share. One can also buy JCP off strength once it starts to clear those breakout levels with volume and then simply use a stop that sits a comfortable percentage from your entry point.

Amarin

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One final under-$10 biopharmaceutical stock that's starting to trend within range of triggering a major breakout trade is Amarin (AMRN) - Get Report , which focuses on the development and commercialization therapeutic products for the treatment for cardiovascular diseases in the U.S. This stock has been slammed lower by the bears over the last six months, with shares sliding sharply lower by 38.9%.

If you take a glance at the chart for Amarin, you'll see that this stock has been attempting to carve out a major bottoming chart pattern over the last two months, with shares finding buying interest at 96, 93 and 98 cents per share. Shares of AMRN spiked notably higher on Wednesday and flirted with its 50-day moving average of $1.07 a share with high volume. Volume off that spike registered 1.66 million shares, which is above its three-month average action of 1.58 million shares. That move is now quickly pushing shares of AMRN within range of triggering a major breakout trade above a key downtrend line.

Traders should now look for long-biased trades in AMRN if it manages to break out above some key near-term overhead resistance levels at $1.10 to $1.15 a share and then above $1.20 a share with high volume. Look for a sustained move or close above those levels with volume that hits near or above its three-month average action 1.58 million shares. If that breakout hits soon, then AMRN will set up re-test or possibly take out its next major overhead resistance levels at $1.32 to $1.38 a share, or even $1.50 a share.

Traders can look to buy AMRN off weakness to anticipate that breakout and simply use a stop that sits right around those recent support levels at 98 to 93 cents per share. One can also buy AMRN off strength once it starts to take out those breakout levels with volume and then simply use a stop that sits a comfortable percentage from your entry point.

-- Written by Roberto Pedone in Delafield, Wis.

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At the time of publication, author had no positions in stocks mentioned. Roberto Pedone, based out of Delafield, Wis., is an independent trader who focuses on technical analysis for small- and large-cap stocks, options, futures, commodities and currencies. Roberto studied international business at the Milwaukee School of Engineering, and he spent a year overseas studying business in Lubeck, Germany. His work has appeared on financial outlets including CNBC.com and Forbes.com. You can follow Pedone on Twitter at www.twitter.com/zerosum24 or @zerosum24.