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 Ocean Power Technologies (OPTT - Get Report) , which exploded higher by 313%; SemiLEDs (LEDS - Get Report) , which soared by 69%; Immune Pharmaceuticals (IMNP) , which surged by 21%; and Edge Therapeutics (EDGE) , which spiked by 19.4%. 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.

ImmunoGen

One under-$10 biotechnology player that's starting to spike within range of triggering a near-term breakout trade is ImmunoGen  (IMGN - Get Report) , which develops targeted anticancer therapeutics. This stock has been hit hard by the bears over the last six months, with shares down sharply by 56.7%.

If you take a glance at the chart for ImmunoGen, you'll notice that this stock has been consolidating and trending sideways over the last month, with shares moving between $5.35 on the downside and $6.22 on the upside. Shares of ImmunoGen trended modestly higher on Wednesday back above its 20-day moving average of $5.71 a share with strong upside volume flows. Volume for that trading session registered over 2.93 million shares, which is well above its three-month average action of 1.32 million shares. This high-volume bump to the upside 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 ImmunoGen if it manages to break out above Wednesday's intraday high of $5.87 a share and then above more key resistance levels at $5.92 to $6 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 1.32 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 $6.22 to $6.75, or even $7 to $7.25 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 near-term support at $5.56 a share, or near its recent low of $5.35 a share. One can also buy shares of ImmunoGen 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.

Amicus Therapeutics

Another under-$10 biopharmaceutical player that's starting to trend within range of triggering a big breakout trade is Amicus Therapeutics  (FOLD - Get Report) , which focuses on the discovery, development and commercialization of medicines for various rare and orphan diseases. This stock has been hit hard by the sellers over the last six months, with shares off by 32%.

If you take a look at the chart for Amicus 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 $6.26 a share to its recent high of $7.27 a share. During that uptrend, this stock has been making mostly higher lows and higher highs, which is bullish technical price action. Shares of Amicus Therapeutics spiked modestly higher on Wednesday right above its 20-day moving average of $6.80 a share with monster upside volume flows. Volume for that trading session registered over 4.77 million shares, which is well above its three-month average action of 2.52 million 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 Amicus Therapeutics if it manages to break out above Wednesday's intraday high of $7.27 a share and then once it takes out its 50-day moving average of $7.50 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 2.52 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 $8 to $8.40, or even $8.70 to its 200-day moving average of $9.13 a share.

Traders can look to buy this stock off weakness to anticipate that breakout and simply use a stop that sits right below its 20-day moving average of $6.80 a share. One can also buy shares of Amicus Therapeutics 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.

QLT

One under-$10 biotechnology player that's starting to spike within range of triggering a big breakout trade is QLT  (QLTI) , which engages in the development and commercialization of ocular products that address the unmet medical needs of patients and clinicians worldwide. This stock has been smashed by the sellers over the last six months, with shares off large by 47%.

If you take a glance at the chart for QLT, you'll notice that this stock has been downtrending badly over the last six months, with shares falling sharply off its high of $2.78 a share to its new 52-week low of $1.38 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 QLT have now started to rebound higher off that $1.38 low, and it's started to trend back above its 20-day moving average of $1.48 a share. This stock spiked notably higher on Wednesday back above its 20-day with strong upside volume flows. Volume for that trading session registered over 187,000 shares, which is well above its three-month average action of 99,991 shares. That high-volume jump 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 QLT if it manages to break out above some near-term overhead resistance levels at $1.52 to $1.55 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 99,991 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 $1.61 to its 50-day moving average of $1.63, or even $1.68 to $1.80 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 around $1.40 a share. One can also buy shares of QLT 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.

Tronox

Another under-$10 stock that's starting to spike within range of triggering a near-term breakout trade is Tronox  (TROX - Get Report) , which produces and markets titanium bearing mineral sands and titanium dioxide pigment in North America, Europe, South Africa and the Asia-Pacific region. This stock has been under some notable selling pressure over the last six months, with shares off by 18.9%.

If you look at the chart for Tronox, you'll notice that this stock has been downtrending over the last two months, with shares moving lower off its high of $8.13 a share to its recent low of $4.36 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 Tronox have now started to rebound off that $4.36 low with strong upside volume flows. Volume on Wednesday registered over 1.71 million shares, which is well above its three-month average action of 1.20 million shares. This high-volume spike to the upside 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 Tronox if it manages to break out above some near-term overhead resistance levels at $5 to $5.19 a share and then above its 200-day moving average of $5.20 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 1.20 million 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 $5.75 to its 50-day moving average of $6.09, or even $6.50 to $7 a share.

Traders can look to buy Tronox off weakness to anticipate that breakout and simply use a stop that sits right below some near-term support at $4.36 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.

Immersion

One final under-$10 application software player that's starting to trend within range of triggering a big breakout trade is Immersion  (IMMR - Get Report) , which creates, designs, develops, and licenses haptic technologies in North America, Europe, and Asia. This stock has been under some heavy selling pressure over the last six months, with shares down sharply by 47.6%.

If you take a glance at the chart for Immersion, you'll notice that this stock recently formed a double bottom chart pattern at $5.90 to $5.95 a share. Following that potential bottom, shares of Immersion have now started to trend back above its 20-day moving average of $6.37 a share with strong upside volume flows. Volume on Wednesday registered over 323,000 shares, which is well above its three-month average action of 259,858 shares. This high-volume modest trend to the upside 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 Immersion if it manages to break out above some key near-term overhead resistance levels at $6.50 to $6.60 a share and then above more resistance at $6.80 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 259,858 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 its 50-day moving average of $7.29 to $7.63, or even $8 to $8.30 a share.

Traders can look to buy shares of Immersion off weakness to anticipate that breakout and simply use a stop that sits right below some key near-term support at around $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.

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