MADISON, Wis. ( Stockpickr) -- There isn't a day that goes by on Wall Street when certain stocks trading for $10 a share or less 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 MediciNova ( MNOV), which skyrocketed higher by 31.1%; Interphase ( INPH), which ripped higher by 24%; Lee Enterprises ( LEE), which spiked higher by 20.6%; and Oxygen Biotherapeutics ( OXBT), which jumped up by 15.2%. You don't even have to catch the entire move in lower-priced stocks such as these to make outsized returns when trading. >>5 Big Trades After the Fed Meeting One low-priced stock that recently ripped higher was biotherapeutic player pSivida ( PSDV), which I highlighted in May 2's " 5 Stocks Under $10 Set to Surge" at $2.50 a share. I mentioned in that piece that shares of PSDV were trending sideways inside of in a consolidation chart pattern for the previous two months, with the stock moving between $1.95 on the downside and $2.50 on the upside. The stock was just starting to bounce off its 50-day moving average and was quickly moving within range of triggering a major breakout trade above the upper-end of its recent sideways chart pattern. Guess what happened? Shares of PSDV went on to trigger that breakout in the following week with strong upside volume flows. This stock never looked back once it broke out above some key overhead resistance levels at $2.50 to $2.58 a share. Shares of PSDV have been uptrending strong since it triggered that breakout, with the stock moving from around $2.50 to its new 52-week high at $4.03 a share. That represents a gain of 60% in a very short timeframe for anyone who bought the breakout. The best part about this move is that PSDV uptrended beautifully after trigger that breakout, with the stock consistently making higher lows and higher highs. >>5 Stocks Poised to Pop on Bullish Earnings 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. 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. 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. >>5 Stocks the Pros Love This Summer With that in mind, here's a look at several under-$10 stocks that look poised to potentially trade higher from current levels.
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