WINDERMERE, Fla. (Stockpickr) -- There isn't a day that goes by on Wall Street that certain stocks trading near or 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 sound risk management are banking ridiculous coin on a regular basis.Just take a look at some of the hot movers in the under-$10 complex from Wednesday, including Novacopper ( NCQ), which skyrocketed higher by 33%; Key Tronic ( KTCC), which surged higher by 24%; Telik ( TELK), which moved up 14%; and Synacor ( SYNC), which closed up 10.3%. You don't even have to catch the entire move in lower-priced stocks such as these to make outsized returns when trading. One low-priced stock that I recently flagged that went on to soar higher was Catalyst Pharmaceutical Partners ( CPRX). On Friday, I highlighted CPRX in " 5 Stocks Poised for Breakouts" at around $1.40 a share. I liked the way that CPRX was uptrending, and I saw the potential for a big breakout. I suggested buying the stock off weakness and anticipating that move. >>5 Huge Stocks That Could Slingshot Higher Guess what happened? Shares of CPRX did trigger that breakout with monster volume, and the stock ripped higher from Friday's low of $1.36 to yesterday's high of $1.79 a share. Shares of CPRX still look technically bullish and poised for higher prices. This stock is now trading within range of its 52-week high of $1.90 a share. If we see CPRX blast above $1.90 soon, then it has a great chance of re-testing and possibly taking out its 2011 high of $2.25 a share. I'm not as eager to recommend investing long term in stocks that trade less than $10 a share because these names can be very speculative, and the odds for picking the long-term winners aren't great. But I definitely love to trade stocks that are priced below $10. I like to view them as a trading vehicle with lots of volatility and lots of upside when the trade is timed right. >>5 Unloved Stocks to Crush the S&P 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 trade higher from current levels.
Twitter and become a fan on Facebook.