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 DragonWave (DRWI) , which soared higher by 40.5%; Centrus Energy (LEU) , which surged by 34.6%; Staffing 360 (STAF) ,which spiked by 34%; and Transition Therapeutics (TTHI) , which trended up by 26%. 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. These are also the exact type of stocks that I love to trade and alert in real-time. 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.

ProNAi Therapeutics

One under-$10 clinical-stage oncology player that's starting to spike within range of triggering a big breakout trade is ProNAi Therapeutics  (DNAI) , which develops and commercializes a class of therapeutics based on its DNA interference technology platform for patients with cancer and hematological diseases. This stock has been smashed by the bears over the last six months, with shares off large by 66%.

If you take a glance at the chart for ProNAi Therapeutics, you'll notice that this stock has been attempting to carve out a major bottoming chart pattern over the last two months, with shares finding some buying interest at $5.70 to $5.80 a share. Shares of ProNAi Therapeutics ripped sharply higher on Wednesday right above some near-term support at $6 a share and back above its 20-day moving average of $6.64 a share with strong upside volume flows. Volume for that trading session registered over 230,000 shares, which is well above its three-month average action of 146,264 shares. This high-volume rip 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 shares of ProNAi Therapeutics if it manages to break out above its 50-day moving average of $7.21 a share and then above more key resistance at $7.28 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 146,264 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 around $8 to $8.24, or even $8.60 to $9 a share.

Traders can look to buy this stock off weakness to anticipate that breakout and simply use a stop that sits just below $6 a share. One can also buy shares of ProNAi Therapeutics 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.

Bellicum Pharmaceuticals

Another under-$10 clinical-stage biopharmaceutical player that's starting to trend within range of triggering a near-term breakout trade is Bellicum Pharmaceuticals  (BLCM) , which focuses on discovering and developing novel cellular immunotherapies for the treatment of hematological cancers, solid tumors, and orphan inherited blood disorders in the U.S. and internationally. This stock has been smacked by the sellers over the last three months, with shares off sharply by 57.6%.

If you take a look at the chart for Bellicum Pharmaceuticals, you'll notice that this stock has been donwntrending badly over the last five months, with shares collapsing off its high of $23.84 to its new 52-week low of $7.24 a share. During that downtrend, this stock has been making mostly lower highs and lower lows, which is bearish technical price action. That said, shares of Bellicum Pharmaceuticals have now started to uptrend a bit over the last few weeks with the stock starting to carve out a price pattern of higher lows. This move has now pushed this stock within range of triggering a near-term breakout trade.

Market players should now look for long-biased trades in Bellicum Pharmaceuticals if it manages to break out above Wednesday's intraday high of $9.24 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 423,985 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 its 50-day moving average of $9.99 to $10.30, or even $11.44 to $12 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 around that new 52-week low of $7.24 a share. One can also buy shares of Bellicum 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.

Aegerion Pharmaceuticals

One under-$10 biopharmaceutical player that's starting to move within range of triggering a near-term breakout trade is Aegerion Pharmaceuticals  (AEGR) , which develops and commercializes therapies for patients with debilitating rare diseases in the U.S. This stock has been destroyed by the bears over the last six months, with shares plunging lower by 71.5%.

If you take a glance at the chart for Aegerion Pharmaceuticals, you'll notice that this stock has been downtrending badly over the last five months, with shares collapsing off its high of $16.63 a share to its new 52-week low of $3.32 a share. During that downtrend, this stock has been consistently making lower highs and lower lows, which is bearish technical price action. That said, shares of Aegerion Pharmaceuticals ripped sharply higher on Wednesday right above that low of $3.32 a share with strong upside volume flows. This high-volume spike to the upside is now quickly pushing this stock within range of triggering a near-term breakout trade.

Traders should now look for long-biased trades in Aegerion Pharmaceuticals if it manages to break out above some near-term overhead resistance levels at $4 to $4.19 a share and then above more key resistance at $4.50 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 626,058 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 20-day moving average of $4.75 to $5.50, or even its 50-day moving average of $5.83 to $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 new 52-week low of $3.32 a share. One can also buy shares of Aegerion Pharmaceuticals 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.

Xerium Technologies

Another under-$10 industrial goods player that's starting to move within range of triggering a big breakout trade is Xerium Technologies  (XRM) , which manufactures and supplies consumable products primarily used in the production of paper. This stock has been under heavy selling pressure over the last six months, with shares off big by 59.2%.

If you look at the chart for Xerium Technologies, you'll notice that this stock has been downtrending badly over the last month, with shares collapsing off its high of $9.46 a share to its new 52-week low of $4.82 a share. During that downtrend, this stock has been consistently making lower highs and lower lows, which is bearish technical price action. That said, shares of Xerium Technologies spiked sharply higher on Wednesday right off $5 a share with monster upside volume flows. Volume for that trading session registered over 320,000 shares, which is well above its three-month average action of 99,334 shares. This high-volume spike is now quickly pushing this stock within range of triggering a big breakout trade.

Market players should now look for long-biased trades in Xerium Technologies if it manages to break out above some key near-term overhead resistance at $5.50 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 99,334 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 $6 to $6.50, or even its 20-day moving average of $6.86 to its 50-day moving average of $7.57 a share.

Traders can look to buy Xerium Technologies off weakness to anticipate that breakout and simply use a stop that sits right below some key near-term support levels at $5 a share or around its new 52-week low of $4.82 a share. 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.

TerraForm Global

One final under-$10 energy player that's starting to spike within range of triggering a big breakout trade is TerraForm Global  (GLBL) , which owns and operates renewable energy generation assets worldwide. This stock has been smoked by the bears over the last six months, with shares down off big by 67.2%.

If you take a glance at the chart for TerraForm Global, you'll notice that this stock recently attempted to form a double bottom chart pattern, after shares found some buying interest at $1.96 to $1.92 a share. Shares of TerraForm Global ripped sharply higher on Thursday right off that $1.92 low with monster upside volume flows. Volume for that trading session registered over 4.98 million shares, which is well above its three-month average action of 1.81 million shares. This high-volume rip to the upside is now quickly pushing this stock within range of triggering a major breakout trade.

Traders should now look for long-biased trades in TerraForm Global if it manages to break out above Wednesday's intraday high of $2.25 a share 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 1.81 million shares. If that breakout hits soon, then this stock will set up to re-fill some of its recent gap-down-day zone that started near $2.75 a share.

Traders can look to buy shares of TerraForm Global off weakness to anticipate that breakout and simply use a stop that sits right below its new 52-week low of $1.92 a share. One can also buy this stock off strength once it starts to trend above Wednesday's intraday high of $2.25 a share 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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