Every day, certain stocks trading for under $10 a share 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 Linn Energy (LINE) , which exploded higher by 86%; LinnCo (LNCO) , which soared by 61.4%; Ultrapetrol (ULTR) ,which jumped up by 43.1%; and Akers Biosciences (AKER - Get Report) , which spiked up by 39.8%. 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.

OvaScience


One under-$10 stock that's starting to spike within range of triggering a big breakout trade is OvaScience  (OVAS) , which engages in the discovery, development and commercialization of new treatments for infertility. This stock has been destroyed by the bears over the last six months, with shares down huge by 74.8%.

If you take a glance at the chart for OvaScience, you'll notice that this stock has been uptrending over the last few weeks, with shares moving higher off its new 52-week low of $4.53 to its intraday high on Wednesday of $6.09 a share. During that uptrend, this stock has been consistently making higher lows and higher highs, which is bullish technical price action. This move has now pushed shares of OvaScience within range of triggering a big breakout trade above some near-term overhead resistance levels.

Market players should now look for long-biased trades in shares of OvaScience if it manages to break out above its 20-day moving average of $6.10 a share and then once it clears more key resistance levels at $6.16 to $6.50 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 573,646 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 $7.50 to its 50-day moving average of $7.97, or even $9 a share.

Traders can look to buy this stock off weakness to anticipate that breakout and simply use a stop that sits right around Wednesday's intraday low of $5.30 a share. One can also buy shares of OvaScience 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.

Titan Machinery

Another under-$10 stock that's starting to trend within range of triggering a near-term breakout trade is Titan Machinery  (TITN - Get Report) , which owns and operates a network of full-service agricultural and construction equipment stores in the U.S. and Europe. This stock has been smacked lower over the last six months, with shares off sharply by 39.7%.

If you take a look at the chart for Titan Machinery, you'll notice that this stock has been attempting to carve out a double bottom chart pattern over the last two months, with shares finding some buying interest at $7.96 to $7.87 a share. This stock has now started to spike higher off those support levels, and it's started to trend back above its 20-day moving average of $8.32 a share. That move has now pushed shares of Titan Machinery within range of triggering a near-term breakout trade above some key overhead resistance levels.

Market players should now look for long-biased trades in Titan Machinery if it manages to break out above some near-term overhead resistance levels at $8.87 to $9 a share and then above its 50-day moving average of $9.19 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 235,480 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 $9.50 to $10, or even $10.50 to around $11 a share.

Traders can look to buy this stock off weakness to anticipate that breakout and simply use a stop that sits right below $8 a share or near its new 52-week low of $7.87 a share. One can also buy shares of Titan Machinery 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.

Raptor Pharmaceuticals

One under-$10 biopharmaceutical player that's starting to move within range of triggering a big breakout trade is Raptor Pharmaceuticals  (RPTP) , which  focuses on developing and commercializing life-altering therapeutics that treat debilitating and often fatal diseases. This stock has been annihilated by the sellers over the last six months, with shares off large by 68.9%.

If you take a glance at the chart for Raptor Pharmaceuticals, you'll notice that this stock spike notably higher on Wednesday right off its 20-day moving average of $3.86 a share with strong upside volume flows. Volume for that trading session registered over 1.46 million shares, which is well above its three-month average action of 1.31 million shares. This high-volume spike to the upside is now quickly pushing shares of Raptor Pharmaceuticals within range of triggering a big breakout trade above some key overhead resistance levels.

Traders should now look for long-biased trades in Raptor Pharmaceuticals if it manages to break out above some near-term overhead resistance levels at $4.22 to $4.44 a share and then above its 50-day moving average of $4.45 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 1.31 million 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 $5 to $5.50, or even $6 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 20-day moving average of $3.86 a share or near some more near-term support at $3.50 a share. One can also buy shares of Raptor Pharmaceuticals 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.

Exact Sciences

Another under-$10 stock that's quickly moving within range of triggering a major breakout trade is Exact Sciences  (EXAS - Get Report) , which focuses on developing non-invasive colorectal cancer screening products. This stock has been under heavy selling pressure over the last six months, with shares collapsing by 72.1%.

If you look at the chart for Exact Sciences, you'll notice that this stock ripped sharply higher on Wednesday right off its 20-day moving average of $6.25 a share with decent upside volume flows. This strong spike to the upside is now quickly pushing shares of Exact Sciences within range of triggering a major breakout trade above some key overhead resistance levels.

Market players should now look for long-biased trades in Exact Sciences if it manages to break out above some near-term overhead resistance levels at Wednesday's intraday high of $6.62 a share and then above more resistance at around $7 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 1.95 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 its 50-day moving average of $7.52 to $7.75, or even $8.50 to $9 a share.

Traders can look to buy Exact Sciences off weakness to anticipate that breakout and simply use a stop that sits right below some near-term support at $6 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.

OncoMed Pharmaceuticals

One final under-$10 stock that's starting to spike within range of triggering a big breakout trade is OncoMed Pharmaceuticals  (OMED) , which discovers and develops protein therapeutics targeting cancer stem cells. This stock has been slammed lower by the sellers over the last three months, with shares off sharply by 51.8%.

If you take a glance at the chart for OncoMed Pharmaceuticals, you'll notice that this stock recently gapped-down sharply lower from close to $18 a share to $9.15 a share with heavy downside volume flows. Following that move, shares of OncoMed Pharmaceuticals went on to print a new 52-week low at $8.42 a share. This stock has now started to spike sharply higher off that low of $8.42 a share , and it's now quickly moving within range of triggering a big breakout trade above some key near-term overhead resistance levels.

Traders should now look for long-biased trades in OncoMed Pharmaceuticals if it manages to break out above some near-term overhead resistance levels at $10.35 to its gap-down-day high at $10.48 a share and then above its 20-day moving average of $10.55 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 298,157 shares. If that breakout goes off soon, then this stock will set up to re-fill some of its previous gap-down-day zone from January that started near $18 a share.

Traders can look to buy shares of OncoMed Pharmaceuticals off weakness to anticipate that move and simply use a stop that sits right below some near-term support at $9 a share or around its new 52-week low of $8.42 a share. 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.