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 monster movers to the upside in the under-$10 complex from Wednesday, including Great Basin Scientific (GBSN) , which exploded up by 110.9%; xG Technology (XGTI) , which jumped higher by 40.6%; Castlight Health (CSLT - Get Report) , which soared by 26.5%; and Alliqua BioMedical (ALQA) , which ripped up by 23.9%. 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. These are also the exact type of stocks that I love to trade and alert to my subscribers 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.

Walter Investment Management

One under-$10 financial player that's starting to spike within range of triggering a near-term breakout trade is Walter Investment Management  (WAC) , which focuses primarily on the servicing and origination of residential loans in the U.S. This stock has been slammed lower by the sellers over the last six months, with shares off sharply by 59%.

If you take a glance at the chart for Walter Investment Management, you'll notice that this stock recently gapped-down sharply lower from just over $7 a share to around $5 a share with heavy downside volume flows. Following that move, shares of Walter Investment Management went on to print a new 52-week low on Wednesday of $4.20 a share. That said, this stock reversed to the upside during that trading session and closed near Wednesday's intraday high of $4.65 a share with above-average volume. That move is now quickly pushing this stock within range of triggering a near-term breakout trade.

Market players should now look for long-biased trades in shares of Walter Investment Management if it manages to break out above Wednesday's intraday high of $4.65 a share and then once it clears more key resistance levels at $4.75 to $4.91 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 306,164 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 $5.25 to its 20-day moving average of $5.88 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 $4.20 a share. One can also buy shares of Walter Investment Management 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

An under-$10 energy player that's starting to trend 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 smacked lower by the bears over the last six months, with shares down big by 49.6%.

If you take a look at the chart for TerraForm Global, you'll notice that this stock recently formed a double bottom chart pattern at $2.39 to $2.31 a share. Following that potential bottom, this stock has now started to spike higher and move within range of triggering a big breakout trade above some key near-term overhead resistance l levels.

Market players should now look for long-biased trades in TerraForm Global if it manages to break out above its 50-day moving average of $2.77 a share and then above its 20-day moving average of $2.80 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 2.21 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 $3 to $3.25, or even $3.50 to right around $4 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 levels at $2.50 to $2.31 a share. One can also buy shares of TerraForm Global 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.

GlobeImmune

One under-$10 biopharmaceutical player that's starting to trend within range of triggering a near-term breakout trade is GlobeImmune  (GBIM) , which focuses on developing therapeutic products for cancer and infectious diseases based on proprietary Tarmogen platform. This stock has been dumped hard by the sellers over the last six months, with shares off large by 49%.

If you take a glance at the chart for GlobeImmune, you'll notice that this stock has been downtrending badly over the last two months, with shares sliding sharply lower from its high of $2.54 a share to its intraday low on Wednesday of 93 cents per 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 GlobeImmune reversed higher off that 93 cent low on Wednesday with strong upside volume flows. This high-volume reversal is now quickly pushing this stock within range of triggering a near-term breakout trade.

Traders should now look for long-biased trades in GlobeImmune if it manages to break out above some near-term overhead resistance levels at $1.16 to $1.20 a share and then above more resistance at $1.25 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 193,830 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 at $1.70 to its 20-day moving average of $1.77, or even its 50-day moving average of $1.89 to $2.15 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 93 cents per share. One can also buy shares of GlobeImmune 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.

Cara Therapeutics

Another under-$10 stock that's starting to spike within range of triggering a near-term breakout trade is Cara Therapeutics  (CARA - Get Report) , which focuses on developing and commercializing chemical entities designed to alleviate pain and pruritus by selectively targeting kappa opioid receptors in the U.S. This stock has been destroyed by the sellers over the last six months, with shares collapsing lower by 63.9%.

If you look at the chart for Cara Therapeutics, you'll notice that this stock has been uptrending a bit over the last few weeks, with shares moving higher off its low of $5.01 a share to its intraday high on Wednesday of $5.87 a share. During that uptrend, shares of Cara Therapeutics have been making mostly higher lows and higher highs, which is bullish technical price action. That move has now pushed this stock 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 Cara Therapeutics if it manages to break out above its 20-day moving average of $5.94 a share and then above its 50-day moving average of $6.15 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 772,481 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 $6.58 to around $7, or even $7.35 to $8 a share.

Traders can look to buy Cara Therapeutics off weakness to anticipate that breakout and simply use a stop that sits right around some key near-term support levels at $5.27 or $5.01 a share. One can also buy this stock off strength once it starts to move back above those breakout levels with volume and then simply use a stop that sits a comfortable percentage from your entry point.

Pieris Pharmaceuticals

One final under-$10 clinical stage biopharmaceutical player that's starting to trend within range of triggering a big breakout trade is Pieris Pharmaceuticals  (PIRS - Get Report) , which discovers and develops Anticalin-based drugs. This stock has been under some selling pressure over the last six months, with shares sliding lower by 15%.

If you take a glance 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 off its high of $2.48 a share to its recent low of $1.62 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 Pieris Pharmaceuticals have now started to rebound off that $1.62 low, and it's beginning to move 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 Pieris Pharmaceuticals if it manages to break out above some near-term overhead resistance levels at $1.80 to $1.91 a share and then above more key resistance at its 50-day moving average of $1.98 a share 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 142,375 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 $2.10 to its 200-day moving average of $2.13, or even $2.25 to around $2.50 a share.

Traders can look to buy shares of Pieris Pharmaceuticals off weakness to anticipate that breakout and simply use a stop that sits below its recent low of $1.65 a share or near more past support levels at $1.56 to $1.50 a share. One can also buy this stock 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.

Disclosure: This article is commentary by an independent contributor. At the time of publication, the author was long GLBL.