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 Bio Blast Pharma (ORPN) , which exploded higher by 59%; LinnCo (LNCO) , which soared by 50.6%; Tengasco (TGC) ,which spiked by 28.9%; and Venaxis (APPY) , which jumped by 25.7%. 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.

PTC Therapeutics

One under-$10 biopharmaceutical player that's starting to trend within range of triggering a big breakout trade is PTC Therapeutics  (PTCT) , which focuses on the discovery, development and commercialization of orally administered, small molecule drugs that target post-transcriptional control processes. This stock has been annihilated by the bears over the last six months, with shares collapsing by 84.1%.

If you take a glance at the chart for PTC Therapeutics, you'll notice that this stock has been downtrending badly over the last month, with shares collapsing off its high of $30.23 to its new all-time low at $5.27 a share hit on Wednesday. During that downtrend, this stock also gapped-down a number of times with heavy downside volume flows. That said, shares of PTC Therapeutics have started to stabilize a bit over the last few weeks, with shares moving between $5.27 on the downside and $6.80 on the upside.

Market players should now look for long-biased trades in shares of PTC Therapeutics if it manages to break out above Wednesday's intraday high of $5.73 a share and then once it clears more key resistance levels at $6.54 to $6.80 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 2.15 million shares. If that breakout triggers soon, then this stock will set up to re-test or possibly take out its next major overhead resistance levels $7.50 to $8 a share.

Traders can look to buy this stock off weakness to anticipate that breakout and simply use a stop that sits a bit below its new all-time low of $5.27 a share. One can also buy shares of PTC 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.

Unisys

Another under-$10 stock that's starting to rebound within range of triggering a major breakout trade is Unisys  (UIS) , which provides information technology services worldwide. This stock has been smashed lower by the bears over the last six months, with shares down large by 46%.

If you take a look at the chart for Unisys, you'll notice that this stock recently gapped-down sharply lower from around $12 a share to under $8 a share with heavy downside volume flows. Following that move, shares of Unisys went on to print a new 52-week low of $7.10 a share. This stock has now started to rebound notably higher off that $7.10 low on Wednesday with strong upside volume flows. Volume for that trading session registered over 2.10 million shares, which is well above its three-month average action of 924,658 shares. This high-volume rip to the upside is now quickly pushing shares of Unisys within range of triggering a major breakout trade.

Market players should now look for long-biased trades in Unisys if it manages to break out above Wednesday's intraday high of $7.61 a share and then above more key near-term overhead resistance at $7.75 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 924,658 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 $8 to $8.15, or even $8.70 to around $9.25 a share.

Traders can look to buy this stock off weakness to anticipate that breakout and simply use a stop that sits right around its new 52-week low of $7.10 a share. One can also buy shares of Unisys 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.

Forbes Energy Services

One under-$10 energy player that's starting to trend within range of triggering a near-term breakout trade is Forbes Energy Services  (FES) , which provides a range of well site services for oil and natural gas drilling and producing companies to develop and enhance the production of oil and natural gas in the U.S. This stock has been in hot demand with the bulls over the last three months, with shares up sharply by 37%.

If you take a glance at the chart for Forbes Energy Services, you'll notice that this stock has been uptrending strong over the last three months, with shares moving higher off its new 52-week low of 18 cents per share to its recent high of 42 cents per share. During that uptrend, shares of Forbes Energy Services have been making mostly higher lows and higher highs, which is bullish technical price action. This stock spiked sharply higher on Wednesday right above its 50-day moving average of 27 cents per share and back above its 20-day moving average of 31 cents per share with heavy upside volume flows. Volume for that trading session registered over 340,000 shares, which is well above its three-month average action of 86,490 shares. This high-volume spike is now quickly pushing this stock within range of triggering a near-term breakout trade.

Traders should now look for long-biased trades in Forbes Energy Services if it manages to break out above some near-term overhead resistance levels at 34 cents to 36 cents per 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 86,490 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 42 cents to 45 cents, or even 58 cents to 60 cents per share.

Traders can look to buy this stock off weakness to anticipate that breakout and simply use a stop that sits right around its 50-day moving average of 27 cents per share. One can also buy shares of Forbes Energy Services 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.

Harsco

An under-$10 industrial materials player that's starting to move within range of triggering a near-term breakout trade is Harsco  (HSC) , which provides industrial services and engineered products worldwide. This stock has been under heavy selling pressure over the last six months, with shares down sharply by 55.6%.

If you look at the chart for Harsco, you'll notice that this stock has been uptrending very strong over the last few weeks, with shares moving higher off its new 52-week low of $3.55 a share to its intraday high on Wednesday of $5.16 a share. During that uptrend, shares of Harsco have been consistently making higher lows and higher highs, which is bullish technical price action. This move has now quickly pushing this stock within range of triggering a near-term breakout trade above some key overhead resistance.

Market players should now look for long-biased trades in Harsco if it manages to break out above Wednesday's intraday high of $5.16 a share with high volume. Look for a sustained move or close above that level with volume that hits near or above its three-month average action of 1.10 million 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 its 50-day moving average of $5.78 to $6, or even $6.50 to $7 a share.

Traders can look to buy Harsco off weakness to anticipate that breakout and simply use a stop that sits right below some key near-term support levels at $4.58 or $4.40 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.

Aquinox Pharmaceuticals

One final under-$10 stock that's starting to spike within range of triggering a big breakout trade is Aquinox Pharmaceuticals  (AQXP) , which engages in discovering and developing targeted therapeutics for diseases in the areas of inflammation and immuno-oncology. This stock has been smacked hard by the bears over the last six months, with shares down big by 52.8%.

If you take a glance at the chart for Aquinox Pharmaceuticals, you'll notice that this stock is attempting to carve out a double bottom chart pattern, after shares found some buying interest over the last two months at $7.64 to $7.65 a share. Following that potential bottom, this stock has now started to rip higher on Wednesday with strong upside volume flows. Volume for that trading session registered 574,000 shares, which is well above its three-month average action of 281,821 a shares. This high-volume spike is now quickly pushing shares of Aquinox Pharmaceuticals 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 Aquinox Pharmaceuticals if it manages to break out above Wednesday's intraday high of $8.53 a share and then above some more key resistance levels at $9 to its 20-day moving average of $9.13 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 281,821 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 $9.71 to its 50-day moving average of $9.89, or even $11 to its 200-day moving average of $11.23 a share.

Traders can look to buy shares of Aquinox Pharmaceuticals 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 move 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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