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 Astrotech (ASTC) , which exploded by 63%; GenVec (GNVC) , which soared by 55%; Blue Earth (BBLU) ,which spiked up by 47%; and Comstock Resources (CRK) , which surged by 39%. 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.

Genocea Biosciences


One under-$10 biopharmaceutical player that's starting to trend within range of triggering a near-term breakout trade is Genocea Biosciences  (GNCA) , which discovers and develops novel vaccines and immunotherapies to treat infectious diseases. This stock has been smashed lower by the sellers over the last six months, with shares off large by 54.3%.

If you take a glance at the chart for Genocea Biosciences, you'll notice that this stock has been uptrending strong over the last month and change, with shares moving higher off its new 52-week low of $2.56 a share to its recent high of $5.49 a share. During that uptrend, shares of Genocea Biosciences have been making mostly higher lows and higher highs, which is bullish technical price action. That move has now pushed this stock within range off triggering a near-term breakout trade.

Market players should now look for long-biased trades in shares of Genocea Biosciences if it manages to break out above Wednesday's intraday high of $4.95 a share and then above more key resistance at $5.49 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 177,585 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 $6 to $6.50, or even $7.20 to its 200-day moving average of $8.30 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 50-day moving average of $3.92 a share. One can also buy shares of Genocea Biosciences 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.

Cymabay Therapeutics

Another under-$10 biotechnology player that's starting to spike within range of triggering a big breakout trade is Cymabay Therapeutics  (CBAY) , which focuses on developing therapies to treat metabolic diseases. This stock has been smacked lower by the bears over the last six months, with shares down sharply by 50.7%.

If you take a look at the chart for Cymabay Therapeutics, you'll notice that this stock spiked sharply higher on Wednesday right off its 20-day moving average of $1.15 a share and back above its 50-day moving average of $1.23 a share. This sharp spike to the upside is now quickly pushing shares of Cymabay Therapeutics within range of triggering a big breakout trade above some key near-term overhead resistance levels.

Market players should now look for long-biased trades in Cymabay Therapeutics if it manages to break out above some key near-term overhead resistance levels at $1.40 to right around $1.60 a share with volume. Look for a sustained move or close above those levels with volume that hits near or above its three-month average action of 141,943 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 $1.80 to $1.85, or even $1.90 to its 200-day moving average of $2.07 a share.

Traders can look to buy this stock off weakness to anticipate that breakout and simply use a stop that sits right below some key near-term support at $1.11 a share. One can also buy shares of Cymabay Therapeutics 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.

Akebia Therapeutics

Another under-$10 stock that's starting to trend within range of triggering a big breakout trade is Akebia Therapeutics  (AKBA) , which focuses on the development and commercialization of proprietary therapeutics based on hypoxia inducible factor biology for patients with kidney disease. This stock has been trending lower over the last six months, with shares off notably by 26.9%.

If you take a glance at the chart for Akebia Therapeutics, you'll notice that this stock has been moving sideways and consolidating over the last two months, with shares moving between $7.02 on the downside and around $9 a share on the upside. Shares of Akebia Therapeutics jumped higher on Wednesday right off its 20-day moving average of $7.69 a share and back above its 50-day moving average of $8.29 a share with strong upside volume flows. Volume for that trading session registered over 710,000 shares, which is well above its three-month average action of 600,144 a shares. This high-volume spike to the upside is now quickly pushing this stock within range of triggering a big breakout trade.

Traders should now look for long-biased trades in Akebia Therapeutics if it manages to break out above some near-term overhead resistance at $8.50 a share and then above its gap-down-day high from January around $9 a share and over its 200-day moving average of $9.13 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 600,144 shares. If that breakout materializes soon, then this stock will set up to re-fill some of its previous gap-down-day zone from January that started at $10.50 a share. Any high-volume move above $10.50 will then give this stock a chance to tag its next major overhead resistance levels at $12 to $13 a share.

Traders can look to buy this stock off weakness to anticipate that breakout and simply use a stop that sits right below Wednesday's intraday low of $7.52 a share or around its recent range low of $7.02 a share. One can also buy shares of Akebia Therapeutics 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.

Radiant Logistics

Another under-$10 stock that's starting to move within range of triggering a big breakout trade is Radiant Logistics  (RLGT) , which provides multi-modal transportation and logistics services primarily in the U.S. and Canada. This stock has been under heavy selling pressure over the last six months, with shares down big by 40.7%.

If you look at the chart for Radiant Logistics, you'll notice that this stock recently formed a double bottom chart pattern, after shares found some buying interest over the last two months at $2.95 to $2.98 a share. Following that potential bottom, shares of Radiant Logistics have now started to spike higher back above both its 20-day moving average of $3.23 a share and its 50-day moving average of $3.24 a share with strong volume. Volume on Wednesday registered over 240,000 shares, which is well above its three-month average action of 111,531 a shares. This high-volume spike to the upside is now quickly pushing this stock within range of triggering a big breakout trade.

Market players should now look for long-biased trades in Radiant Logistics if it manages to break out above some near-term overhead resistance levels at $3.34 to $3.43 a share and then above more resistance at $3.53 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 111,531 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 $3.68 to $3.88, or even $4 to $4.40 a share.

Traders can look to buy Radiant Logistics off weakness to anticipate that breakout and simply use a stop that sits right below some key near-term support levels at $3.11 or its new 52-week low of $2.95 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.

Tobira Therapeutics

One final under-$10 biopharmaceutical player that's starting to trend within range of triggering a big breakout trade is Tobira Therapeutics  (TBRA) , which focuses on the development and commercialization of therapies to treat liver disease, inflammation, fibrosis, and human immunodeficiency virus. This stock has been hammered lower by the bears over the last six months, with shares off large by 38.3%.

If you take a glance at the chart for Tobira Therapeutics, you'll notice that this stock recently carved out a double bottom chart pattern, after shares found some buying interest at $6.53 to $6.47 a share. Following that potential bottom, this stock has now started to spike higher off its 20-day moving average of $7.07 a share and back above its 50-day moving average of $7.57 a shares. This move is now quickly pushing this stock 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 Tobira Therapeutics if it manages to break out above Wednesday's intraday high of $7.86 a share and then above some more key resistance at $8.17 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 51,182 shares. If that breakout takes hold soon, then this stock will set up to re-test or possibly take out its next major overhead resistance levels at $9 to $9.50, or even $10.36 to $11.04 a share.

Traders can look to buy shares of Tobira Therapeutics off weakness to anticipate that move and simply use a stop that sits right below its 20-day moving average of $7.07 a share or 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.

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

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