DELAFIELD, Wis. (Stockpickr) --  There isn't a day that goes by on Wall Street when certain stocks trading for $10 a share don't experience massive spikes higher. Traders savvy enough to follow the low-priced names and trade them with discipline and sod risk management are banking ridiculous coin on a regular basis.

Just take a look at some of the monster movers to the upside in the under-$10 complex from Wednesday, including Network-1 Technologies(NTIP) - Get Report, which ripped to the upside by 36.3%; Global-Tech Advanced Innovations (GAI) , which soared higher by 33.9%; Harvest Natural Resources (HNR) , which spiked sharply higher by 18.7%; and Forward Industries(FORD) - Get Report, which jumped higher by 13.6%. 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.

Lpath

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One under-$10 biotechnology player that's starting to trend within range of triggering a major breakout trade is Lpath (LPTN) , which focuses on the discovery and development of lipidomic-based therapeutic antibodies to treat a range of human diseases in the U.S. This stock has been destroyed by the sellers over the last three months, with shares down huge by 89.2%.

If you take a glance at the chart for Lpath, you'll see that this stock gapped down sharply lower in May from around $1.75 a share to under 50 cents per share with heavy downside volume. Following that move, shares of Lpath have started to stabilize a bit, with the stock consolidating and trending sideways between 21 cents per share on the downside and 34 cents per share on the upside. This stock has started to tick up a bit off that recent 21 cent low and it's beginning to move within range of triggering a major breakout trade above a key downtrend line.

Market players should now look for long-biased trades in shares of Lpath if it manages to break out above a key downtrend line that will start to trigger over 28 to 30 cents per share and then above more resistance at 32 to 34 cents per 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 600,911 shares. If that breakout develops soon, then this stock will set up to re-test or possibly take out its next major overhead resistance level at its gap-down-day high from May at 46 cents per share. Any high-volume move above that level will then give shares of Lpath a chance to re-fill some of that gap-down-day zone that started near $1.75 a share.

Traders can look to buy this stock off weakness to anticipate that breakout and simply use a stop that sits right around its recent low of 21 cents per share. One can also buy shares of Lpath 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.

BioDelivery Sciences

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Another under-$10 specialty pharmaceutical player that's trending within range of triggering a big breakout trade is BioDelivery Sciences(BDSI) - Get Report, which engages in the development and commercialization of pharmaceutical products principally in the areas of pain management and addiction. This stock has been smacked lower by the sellers over the last six months, with shares off sharply by 33.8%.

If you take a look at the chart for BioDelivery Sciences, you'll notice that this stock has been downtrending badly over the last three months and change, with shares moving sharply lower from its high of $15.50 a share to its new 52-week low of $7.17 a share. During that downtrend, this stock has been consistently making lower highs and lower lows, which is bearish technical price action. Shares of BioDelivery Sciences also gapped down sharply in March from over $13 a share to $9.32 a share with heavy downside volume flows. That said, this stock has now started to consolidate and trend sideways over the last two months, with shares moving between $7.17 on the downside and $8.95 on the upside.

Market players should now look for long-biased trades in BioDelivery Sciences if it manages to break out above some key near-term overhead resistance levels at $8.50 to $8.80 a share and then above more resistance at $8.95 to $9 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 1.22 million shares. If that breakout hits soon, then this stock will set up to re-test or possibly take out its next major overhead resistance levels at $9.50 to $10.22 a share, or even $11 a share. Any high-volume move over $11 will then give BioDelivery Sciences a chance to re-fill some of that previous gap-down-day zone from March that started near $13 a share.

Traders can look to buy this stock off weakness to anticipate that breakout and simply use a stop that sits right around some key near-term support levels at $7.50 or around its new 52-week low of $7.17 a share. One can also buy shares of BioDelivery Sciences off strength once it starts to bust above those breakout levels with volume and then simply use a stop that sits a comfortable percentage from your entry point.

Achaogen

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One under-$10 clinical-stage biopharmaceutical player that's starting to spike within range of triggering a big breakout trade is Achaogen (AKAO) , which discovers, develops, and commercializes antibacterials to treat multi-drug resistant gram-negative infections in the U.S. This stock has been under heavy selling pressure over the last six months, with shares moving to the downside by 52.6%.

If you take a glance at the chart for Achaogen, you'll notice that this stock recently came out of a major downtrend over the last six months, that took shares from over $13 a share to its new 52-week low of $5.30 a share hit in early May. Following that downtrend, shares of Achaogen have started to stabilize nicely over the last two months, with shares consistently making higher lows. This stock showed some relative strength on Wednesday as the market collapsed as it started to trend back above its 50-day moving average of $5.86 a share. That move is now quickly pushing shares of Achaogen within range of triggering a big breakout trade above a key downtrend line that dates back to March.

Traders should now look for long-biased trades in Achaogen if it manages to break out above that key downtrend line that will start to trigger over $6.21 to $6.55 a share and then above more resistance at $6.93 to just over $7 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 179,419 shares. If that breakout materializes soon, then this stock will set up to re-test or possibly take out its next major overhead resistance levels $7.50 to $8 a share, or even its 200-day moving average of $9.09 a share.

Traders can look to buy this stock off weakness to anticipate that breakout and simply use a stop that sits right around some near-term support levels at $5.75 to $5.50 a share. One can also buy shares of Achaogen off strength once it starts to trend above those breakout levels with volume and then simply use a stop that sits a comfortable percentage from your entry point.

ARC Document Solutions

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Another under-$10 reprographics player that's starting to trend within range of triggering a near-term breakout trade is ARC Document Solutions(ARC) - Get Report, which provides document solutions to various businesses. This stock has been hit hard by the sellers over the last six months, with shares down sharply by 20.3%.

If you look at the chart for ARC Document Solutions, you'll notice that this stock has been attempting to carve out a major bottoming chart pattern over the last month and change, with shares finding buying interest each time it has pulled back to around $7 a share or just below that level. This attempt at bottoming here for ARC Document Solutions is coming after this stock downtrended badly the prior four months, with shares falling sharply lower from its high of close to $10 a share to its recent low of $6.90 a share. This stock has now started to rebound to the upside off those major bottom support levels and it's beginning to move within range of triggering a near-term breakout trade.

Market players should now look for long-biased trades in ARC Documents Solutions if it manages to break out above some key near-term overhead resistance levels at $7.70 a share to its 50-day moving average of $7.73 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 232,349 shares. If that breakout gets set off soon, then this stock will set up to re-test or possibly take out its next major overhead resistance levels at $8.25 to $8.50 a share, or even its 200-day moving average of $8.85 to $9.20 a share.

Traders can look to buy ARC Document Solutions off weakness to anticipate that breakout and simply use a stop that sits right around some key near-term support levels at $7.04 to $6.90 a share. One can also buy this stock off strength once it starts to spike above those breakout levels with volume and then simply use a stop that sits a comfortable percentage from your entry point.

DHI Group

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One final under-$10 stock that's starting to move within range of triggering a big breakout trade is DHI Group(DHX) - Get Report, which provides specialized Web sites focused on select professional communities. This stock has been knocked a bit lower by the sellers over the last six months, with shares off by 10.8%.

If you take a glance at the chart for DHI Group, you'll notice that this stock has been uptrending strong over the last two months, with shares moving sharply higher from its low of $7.50 to its recent high of $9.36 a share. During that uptrend, shares of DHI Group have been making mostly higher lows and higher highs, which is bullish technical price action. That move has now started to push this stock within range of triggering a big breakout trade above a key downtrend line that dates back to January.

Traders should now look for long-biased trades in DHI Group if it manages to take out that downtrend line which will trigger over its 200-day moving average of $9.16 a share and then above some more key overhead resistance levels at $9.36 to $9.37 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 424,546 shares. If that breakout kicks off soon, then this stock will set up to re-test or possibly take out its next major overhead resistance levels $10 to $10.50 a share, or even its 52-week high of $11.49 a share.

Traders can look to buy DHI Group off weakness to anticipate that breakout and simply use a stop that sits right around some key near-term support levels at $8.38 to $8.28 a share. One can also buy this stock 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.

This article is commentary by an independent contributor. At the time of publication, the author was long LPTN.