DELAFIELD, Wis. (Stockpickr) --  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 sod 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 Lincoln Educational Services (LINC) , which sky-rocketed higher by 104%; Opexa Therapeutics (OPXA) , which soared higher by 28.6%; On Track Innovations (OTIV) , which spiked up by 26.4%; and Bellerophon Therapeutics (BLPH) , which jumped by 25.9%. 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.

Brainstorm Cell Therapeutics

One under-$10 biotechnology player that's staring to spike within range of triggering big breakout trade is Brainstorm Cell Therapeutics  (BCLI) , which develops adult stem cell therapies for neurodegenerative disorders, such as amyotrophic lateral sclerosis, multiple sclerosis and Parkinson's disease. This stock has been taken to the woodshed by the sellers over the last six months, with shares down sharply by 49%.

If you take a glance at the chart for Brainstorm Cell Therapeutics, you'll notice that this stock has been downtrending badly over the last six months, with shares moving sharply lower from over $5 a share to its new 52-week low of $2.17 a share. During that downtrend, shares of Brainstorm Cell Therapeutics have been making mostly lower highs and lower lows, which is bearish technical price action. That said, this stock has now started to spike higher off that $2.17 low with strong volume and it's now quickly approaching a big breakout trade above some key near-term overhead resistance levels.

Market players should now look for long-biased trades in shares of Brainstorm Cell Therapeutics if it manages to break out above Wednesday's intraday high of $2.36 to $2.45 and then above more resistance at $2.50 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 122,092 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 its 20-day moving average of $3 to its 50-day moving average of $3.04, or even $3.25 to $3.35 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 major past support at around $2 a share. One can also buy shares of Brainstorm Cell Therapeutics 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.

Pieris Pharmaceuticals


Another under-$10 clinical stage biopharmaceutical player that's starting to trend within range of triggering a big breakout trade is Pieris Pharmaceuticals  (PIRS) , which focuses on the discovery and development of Anticalin class biotherapeutics. This stock has been hit hard by the sellers over the last six months, with shares down sharply by 50.3%.

If you take a look at the chart for Pieris Pharmaceuticals, you'll notice that this stock has been downtrending badly over the last two months, with shares falling sharply lower from its high of $3.70 to its new all-time low of $1.74 a share. During that downtrend, shares of Pieris Pharmaceuticals have been making mostly lower highs and lower lows, which is bearish technical price action. That move has now pushed this stock into extremely oversold territory, since its current relative strength index reading is 23.3. Oversold can always get more oversold, but shares of Pieris Pharmaceuticals have now started to bounce off some near-term support at $1.74, and it's quickly moving within range of triggering a big breakout trade.

Market players should now look for long-biased trades in Pieris Pharmaceuticals if it manages to break out above some near-term overhead resistance levels at Wednesday's intraday high of $1.92 to $2 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 364,066 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 around $2.40 to its 20-day moving average of $2.48, or even its 50-day moving average of $2.83 a share.

Traders can look to buy this stock off weakness to anticipate that breakout and simply use a stop that sits right below its all-time low of $1.74 a share. One can also buy shares of Pieris Pharmaceuticals 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.

Peabody Energy

An under-$10 basic materials player that's starting to trend within range of triggering a near-term breakout trade is Peabody Energy  (BTU) , which offers mining of coal. This stock has been hit by the sellers over the last three months, with shares off big by 37.4%.

If you take a glance at the chart for Peabody Energy, you'll notice that this has been attempting to carve out a major bottoming chart pattern over the last two months, with shares finding buying interest at $1.07 to $1.09 a share. Following that potential bottom, shares of Peabody Energy have now started to spike higher off those support levels and it's quickly moving within range of triggering a near-term breakout trade above some key overhead resistance levels.

Traders should now look for long-biased trades in Peabody Energy if it manages to break out above some near-term overhead resistance levels at $1.44 to its 50-day moving average of $1.49 a share and then above its 20-day moving average of $1.60 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 16.41 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 $2 to $2.50 a share.

Traders can look to buy this stock off weakness to anticipate that breakout and simply use a stop that sits right around below some near-term support at $1.25 a share or around those recent double bottom support levels. One can also buy shares of Peabody Energy 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.

Evine Live


Another under-$10 consumer goods and services player that's starting to trend within range of triggering a big breakout trade is Evine Live  (EVLV) , which operates as a digital commerce company in the U.S. This stock has been crushed by the sellers over the last six months, with shares off large by 61.1%.

If you look at the chart for EVINE Live, you'll see that this stock recently attempted to carve out a double bottom chart pattern, after shares found some buying interest at $2.29 to $2.34 a share. Following that potential bottom, shares of EVINE Live have started to spike higher right off its 50-day moving average of $2.37 and back above its 20-day moving average of $2.54 with decent upside volume flows. That move has now started to quickly pushing this stock within range of triggering a big breakout trade above a key downtrend line that dates back to June.

Market players should now look for long-biased trades in EVINE Live if it manages to break out above that downtrend line which will start to trigger over resistance levels at $2.68 to $2.72 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 210,488 shares. If that breakout develops soon, then this stock will set up to re-test or possibly take out its next major overhead resistance levels at $2.86 to $3.10, or even $3.50 to $4 a share.

Traders can look to buy EVINE Live off weakness to anticipate that breakout and simply use a stop that sits right around those recent double bottom support levels. 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.

Linn


One final under-$10 energy player that's starting to trend within range of triggering a major breakout trade is Linn  (LNCO) , which focuses on the acquisition and development of oil and natural gas properties in the U.S. This stock has been destroyed by the bears over the last six months, with shares off huge by 71.3%.

If you take a glance at the chart for Linn, you'll notice that this stock has been attempting to carve out a double bottom chart pattern over the last month or so, with shares finding some buying interest at $2.36 to $2.38 share. Following that potential bottom. shares of Linn have started to rip higher and approach a major breakout trade above some key near-term overhead resistance levels.

Traders should now look for long-biased trades in Linn if it manages to break out above some near-term overhead resistance levels at its 20-day moving average of $2.76 to more resistance at $2.88 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 2.66 million 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 its 50-day moving average of $3.13 to around $3.20 a share. Any high-volume move above $3.20 and then over more resistance at $3.34 will give this stock a chance to make a run at $4 a share.

Traders can look to buy shares of Linn off weakness to anticipate that breakout and simply use a stop that sits right below those recent double bottom support levels. One can also buy this stock 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.

.

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

More from Opinion

Microsoft Pops on Strong Earnings and Guidance: 8 Key Takeaways

Microsoft Pops on Strong Earnings and Guidance: 8 Key Takeaways

Microsoft's Earnings Provide Fresh Proof That the LinkedIn Deal Is Paying Off

Microsoft's Earnings Provide Fresh Proof That the LinkedIn Deal Is Paying Off

Bitcoin Prices Are Back Up, but Traditional Investors Remain Skeptical

Bitcoin Prices Are Back Up, but Traditional Investors Remain Skeptical

EBay's Soft Guidance Doesn't Reflect Well on its Attempts to Fight Off Amazon

EBay's Soft Guidance Doesn't Reflect Well on its Attempts to Fight Off Amazon

4 Key Takeaways for Apple, Nvidia and Others From TSMC's Earnings Report

4 Key Takeaways for Apple, Nvidia and Others From TSMC's Earnings Report