DELAFIELD, 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.>>5 Big Trades for a September Bounce Just take a look at some of the hot movers in the under-$10 complex from Wednesday, including Astex Pharmaceuticals ( ASTX), which skyrocketed higher by 23.7%; Hanwha Solarone ( HSOL), which soared higher by 16.3%; JA Solar ( JASO), which ripped higher by 15.9%; and Amtech Systems ( ASYS), which trended up by 15.6%. 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 recently spiked sharply higher was solar player ReneSola ( SOL), which I highlighted in Aug. 22's " 5 Stocks Under $10 Set to Soar" at around $4.30 per share. I mentioned in that piece that shares of SOL had been uptrending very strong for the last four months and change, soaring higher from its low of $1.25 to $4.85 a share. This stock had recently pulled back off that $4.85 high to $3.52 a share. Shares of SOL were just starting to bounce off that $3.52 low and were quickly moving within range of triggering a breakout trade above some near-term overhead resistance levels at $4.25 to $4.50 a share and then above its 52-week high at $4.85 a share. >>5 Stocks Insiders Love Right Now Guess what happened? Shares of SOL stared to flirt with that breakout during the next few trading sessions after the stock hit $4.73 a share. Then on Aug. 30, shares of SOL cleared all of those key resistance levels with massive upside volume. As I write this, SOL has hit an intraday high of $5.90 a share, which represents a big gain of 35% since the stock was trading at $4.30 a share. That's a massive run in a very short timeframe for anyone who played this breakout setup. Shares of SOL could still easily hit $7 to $8 a share in the coming months, since the uptrend for the stock is still intact and volume flows remain bullish. 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. >>5 Big Short-Squeeze Stocks Ready to Pop 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.
Nordic American Tankers
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