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.

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 trade higher from current levels.

Aurinia Pharmaceuticals

One under-$10 clinical stage pharmaceutical player that's starting to trend within range of triggering a near-term breakout trade is Aurinia Pharmaceuticals  (AUPH) , which engages in the development of a therapeutic drug to treat autoimmune diseases in Canada. This stock has been in play with the bulls over the last six months, with shares moving higher by 15.2%.

If you take a glance at the chart for Aurinia Pharmaceuticals, you'll notice that this stock has been uptrending over the last two months, with shares moving higher off its low of $2.16 to its recent high of $3 a share. During that uptrend, shares of Aurinia Pharmaceuticals 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 shares of Aurinia Pharmaceuticals if it manages to break out above some near-term overhead resistance levels at $2.92 to $3 a share and then above more key resistance levels at $3.25 to $3.30 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 33,505 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 $3.60 to $4, or even $4.30 to $5 a share.

Traders can look to buy this stock off weakness to anticipate that breakout and simply use a stop that sits just below its 200-day moving average of $2.66 a share or around more near-term support at $2.50 a share. One can also buy shares of Aurinia 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.

KemPharm

Another under-$10 stock that's starting to spike within range of triggering a big breakout trade is KemPharm  (KMPH) , which discovers and develops new proprietary prodrugs in the U.S. This stock has been destroyed by the sellers over the last six months, with shares plunging lower by 78.3%.

If you take a look at the chart for KemPharm, you'll notice that this stock has been downtrending badly over the last month, with shares falling sharply lower off its high of $7.84 to its new 52-week low of $3.52 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 KemPharm have now started to rebound off that $3.52 low, and it's quickly moving within range of triggering a big breakout trade.

Market players should now look for long-biased trades in KemPharm if it manages to break out above some near-term overhead resistance levels at $4.25 to $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 229,149 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 $5 to its 20-day moving average of $5.23 a share. Any high-volume move above $5.23 will then give this stock a chance to re-fill some of its previous gap-down-day zone from earlier this month that started near $7 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 $4 a share or around that new 52-week low of $3.52 a share. One can also buy shares of KemPharm 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.

Aratana Therapeutics

Another under-$10 stock that's starting to trend within range of triggering a near-term breakout trade is Aratana Therapeutics  (PETX) , which focuses on the licensing, development, and commercialization of biopharmaceutical products for the companion animals worldwide. This stock has been in favor with the bulls over the last three months, with shares trending higher by 22.2%.

If you take a glance at the chart for Aratana Therapeutics, you'll notice that this stock recently formed a double bottom chart pattern, after shares found some buying interest at $5.70 to $5.75 a share over the last two months. Shares of Aratana Therapeutics have now started to trend back above its 200-day moving average of $6.14 a share and its 50-day moving average of $6.39 a share. That trend is now quickly pushing this stock within range of triggering a near-term breakout trade above some key overhead resistance levels.

Traders should now look for long-biased trades in Aratana Therapeutics if it manages to break out above some near-term overhead resistance levels at $6.75 to $6.90 a share and then above more resistance at $7 a share with volume that hits near or above its three-month average action of 735,742 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 $7.50 to $7.66, or even $7.75 to $8.24 a share.

Traders can look to buy this stock off weakness to anticipate that breakout and simply use a stop around its 200-day moving average of $6.14 a share or near those recent double bottom support levels. One can also buy shares of Aratana Therapeutics 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.

Sportsman's Warehouse

An under-$10 sporting goods retailer that's starting to spike within range of triggering a near-term breakout trade is Sportsman's Warehouse  (SPWH - Get Report) , which offers a range of products in a sporting goods store format that averages approximately 11,000 square feet. This stock has been under heavy selling pressure over the last six months, with shares falling sharply by 37.4%.

If you look at the chart for Sportsman's Warehouse, you'll notice that this stock has recently formed a double bottom chart pattern, after shares found some buying interest at $7.77 to $7.71 a share over the last month. Following that potential bottom, this stock has now started to uptrend a bit and trend back above its 20-day moving average of $8.09 a share. That trend is now quickly pushing shares of Sportsman's Warehouse 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 Sportsman's Warehouse if it manages to break out above some near-term overhead resistance levels at $8.26 to $8.55 a share and then above more resistance at $8.75 to $9 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 625,517 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 its 50-day moving average of $9.47 to $10.17, or even $10.50 to $11 a share.

Traders can look to buy Sportsman's Warehouse off weakness to anticipate that breakout and simply use a stop that sits right around those recent double bottom support levels. One can also buy this stock 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.

Tuesday Morning

One final under-$10 stock that's starting to trend within range of triggering a near-term breakout trade is Tuesday Morning  (TUES - Get Report) , which operates as a retailer of upscale decorative home accessories, housewares, seasonal goods, and gifts in the U.S. This stock has been in favor a bit with the bulls over the last six months, with shares moving notably higher by 7.1%.

If you take a glance at the chart for Tuesday Morning, you'll notice that this stock has been consolidating and trending sideways over the last two months, with shares moving between $6.15 on the downside and $7.25 on the upside. This stock has recently started to trend back above both its 200-day moving average of $6.69 a share and its 20-day moving average of $6.81 a share. that trend is now quickly pushing shares of Tuesday Morning within range of triggering a near-term breakout trade above the upper-end of its sideways trending chart pattern.

Traders should now look for long-biased trades in Tuesday Morning if it manages to break out above some near-term resistance levels at $7 to $7.03 a share and then above its 50-day moving average of $7.11 a share and over more resistance levels at $7.13 to $7.25 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 361,740 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 $8 to $8.75, or even $9.20 a share.

Traders can look to buy shares of Tuesday Morning off weakness to anticipate that breakout and simply use a stop that sits right below its 200-day moving average of $6.69 a share or around more key support levels at $6.22 to $6.15 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 held no positions in the stocks mentioned.