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

Just take a look at some of the big movers to the upside in the under-$10 complex from Wednesday, including Anavex Life Sciences(AVXL) - Get Report , which exploded up by 63.5%; Alon Blue Square (BSI) , which spiked by 46.5%; Axion Power International (AXPW) ,which soared by 36.4%; and CareDx(CDNA) - Get Report , which ripped up by 26.6%. 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 stocks, I do it almost entirely based off of the charts and technical analysis. I also like to find under-$10 stocks 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.

Avalanche Biotechnologies

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One under-$10 clinical-stage biotechnology player that's starting to spike within range of triggering a big breakout trade is Avalanche Biotechnologies (AAVL) , which focuses on discovering and developing novel gene therapies for the treatment of ophthalmic diseases based on its Ocular BioFactory platform. This stock has been slammed lower over the last six months, with shares off by 61.2%.

If you take a glance at the chart for Avalanche Biotechnologies, you'll notice that this stock has been attempting to carve out a major bottoming chart pattern over the last two months, with shares finding some buying interest at $7.80, $7.40 and $7.60 a share. Shares of Avalanche Biotechnologies have now started to spike higher off those support levels with strong upside volume flows. Volume on Wednesday registered 603,000 shares, which is well above its three-month average action of 445,426 shares. That high-volume spike is now starting to push this stock within range of triggering a big breakout trade.

Market players should now look for long-biased trades in shares of Avalanche Biotechnologies if it manages to break out above some near-term overhead resistance levels at its 50-day moving average of $8.87 and then once it clears more key resistance levels at $9.52 to $10 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 445,426 shares. If that breakout fires off soon, then this stock will set up to re-test or possibly take out its next major overhead resistance levels at $11.50 to around $12.50 a share. Any high-volume move above $12.50 will then give this stock a chance to re-fill its previous gap-down-day zone from August that started at $15 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 $7.61 to $7.40 a share. One can also buy shares of Avalanche Biotechnologies 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.

ContraFect

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Another under-$10 biotechnology player that's starting to spike within range of triggering a near-term breakout trade is ContraFect(CFRX) - Get Report , which focuses on discovering and developing therapeutic protein and antibody products for life-threatening and drug-resistant infectious diseases in the U.S. This stock has been smacked lower by the sellers over the last three months, with shares off by 27%.

If you take a look at the chart for ContraFect, you'll notice that this stock ripped sharply higher on Wednesday with slightly above-average volume. This strong volume move to the upside is now quickly pushing this stock within range of triggering a near-term breakout trade above a key downtrend line that dates back to August.

Market players should now look for long-biased trades in ContraFect if it manages to break out above that key downtrend line that will trigger over $4.36 to $4.44 a share and then above $4.65 to its 200-day moving average of $4.79 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 76,411 shares. If that breakout triggers soon, then this stock will set up to re-test or possibly take out its next major overhead resistance levels at $5.20 to $5.80 a share.

Traders can look to buy this stock off weakness to anticipate that breakout and simply use a stop that sits right below Wednesday's intraday low of $3.40 a share. One can also buy shares of ContraFect 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.

Eros International

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One under-$10 movie production player that's starting to spike within range of triggering a major breakout trade is Eros International(EROS) - Get Report , which co-produces, acquires, and distributes Indian language films in various formats worldwide. This stock has been absolutely destroyed over the last three months, with shares plunging by 75.7%.

If you take a glance at the chart for Eros International, you'll notice that this stock has been downtrending badly over the last three months and change, with shares collapsing off its high of $39.01 to its new all-time low of $6.84 a share. During that downtrend, shares of Eros International have been consistently making lower highs and lower lows, which is bearish technical price action. That said, this stock has now started to rebound off that $6.84 low with a number of extremely high-volume up days. This stock is now starting to spike within range of triggering a major breakout trade above some key near-term overhead resistance levels.

Traders should now look for long-biased trades in Eros International if it manages to break out above some key near-term overhead resistance levels at $9.68 to $10 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 1.57 million 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 at $12 to its 20-day moving average of $12.23, or even $14 to $15 a share.

Traders can look to buy this stock off weakness to anticipate that breakout and simply use a stop that sits right below Wednesday's intraday low of $7.41 or near its all-time low of $6.84 a share. One can also buy shares of Eros International 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.

Intrepid Potash

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An under-$10 basic materials player that's starting to trend within range of triggering a big breakout trade is Intrepid Potash(IPI) - Get Report , which engages in the extraction, production, and sale of potassium containing products in the U.S. This stock has been smashed lower by the bears over the last six months, with shares off massively by 70.8%.

If you look at the chart for Intrepid Potash, you'll notice that this stock has been downtrending badly over the last six months, with shares collapsing off its high of $12.23 to its recent low of $3.44 a share. During that downtrend, shares of Intrepid Potash have been consistently making lower highs and lower lows, which is bearish technical price action. That said, this stock has now started to spike higher off its new 52-week low of $3.44 a share with strong upside volume flows. Volume on Wednesday registered over 1.30 million shares, which is well above its three-month average action of 1.18 million shares. That spike is now quickly pushing this stock within range of triggering a big breakout trade above some key near-term overhead resistance levels.

Market players should now look for long-biased trades in Intrepid Potash if it manages to break out above some near-term overhead resistance levels at $3.77 to $4.03 a share and then above its 20-day moving average of $4.11 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 1.18 million 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 at $4.75 to its 50-day moving average of $5.47, or even $6 a share.

Traders can look to buy Intrepid Potash off weakness to anticipate that breakout and simply use a stop that sits right below its new 52-week low of $3.44 a share. One can also buy this stock 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.

Invitae

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One final under-$10 for today is a genetic information player that's starting to spike within range of triggering a near-term breakout trade: Invitae(NVTA) - Get Report , which provides genetic diagnostics for various hereditary disorders. This stock has been hit hard by the sellers over the last six months, with shares off by 55.9%.

If you take a glance at the chart for Invitae, you'll notice that this stock spiked sharply higher on Wednesday right above its new all-time low of $6.46 a share with above-average volume. Volume for the day registered over 247,000 shares, which is well above its three-month average action of 155,086 shares. This high-volume spike is now quickly pushing this stock within range of triggering a near-term breakout trade above some key overhead resistance levels.

Traders should now look for long-biased trades in Invitae if it manages to break out above some near-term overhead resistance levels at $7 to $7.50 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 155,086 shares. If that breakout triggers soon, then this stock will set up to re-test or possibly take out its next major overhead resistance levels at $8.50 to $9, or even $9.50 a share.

Traders can look to buy shares of Invitae off weakness to anticipate that breakout and simply use a stop that sits right below its new all-time low of $6.46 a share. One can also buy this stock 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.

Disclosure: This article is commentary by an independent contributor. At the time of publication, the author held no positions in the stocks mentioned.