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 EnteroMedics (ETRM) , which exploded higher by 36.2%; SAExploration (SAEX - Get Report) , which ripped up by 26.4%; China XD Plastics (CXDC - Get Report) , which surged by 21.2%; and General Steel (GSI) , which spiked higher 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.

Exco Resources

One under-$10 independent oil and natural gas player that's starting to trend within range of triggering a big breakout trade is Exco Resources  (XCO) , which engages in the acquisition, exploration, exploitation, development and production of onshore oil and natural gas properties with a focus on shale resource plays in the U.S. This stock has been in play with the bulls over the last six months, with share jumping higher by 27.7%.

If you take a glance at the chart for EXCO Resources, you'll notice that this stock has been uptrending strong over the last two months and change, with shares ripping higher off its low of 51 cents per share to its recent high of $1.43 a share. During that uptrend, this stock has been making mostly higher lows and higher highs, which is bullish technical price action. That strong trend has now pushed shares of Exco Resources within range of triggering a big breakout trade above some key overhead resistance levels.

Market players should now look for long-biased trades in shares of Exco Resources if it manages to break out above some near-term overhead resistance levels at $1.41 to $1.43 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 3.13 million shares. If that breakout fires off soon, then this stock will set up to re-fill some of its previous gap-down-day zone from May that started at $1.91 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 20-day moving average of $1.26 a share or around more support at $1.20 to its 50-day moving average of $1.16 a share. One can also buy shares of EXCO Resources 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.

Venaxis

An under-$10 health care stock that's starting to spike within range of triggering a big breakout trade is Venaxis  (APPY) , which develops its licensed animal health assets in the U.S. This stock has been trending to the upside over the last three months, with shares higher by 21.7%.

If you take a look at the chart for Venaxis, you'll notice that this stock spiked modestly higher on Wednesday back above both its 50-day moving average of $3.43 a share and its 20-day moving average of $3.46 a share. This trend back above these key moving averages is now quickly pushing shares of Venaxis within range of triggering a big breakout trade above some near-term overhead resistance levels.

Market players should now look for long-biased trades in Venaxis if it manages to break out above some near-term overhead resistance levels at $3.66 to $3.73 a share and then above more key resistance levels at $3.90 to $4 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 75,793 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 level at its 52-week high of $6.65 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 levels at $3.18 or $3 a share. One can also buy shares of Venaxis 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.

Nobilis Health

Another under-$10 stock that's starting to trend within range of triggering a near-term breakout trade is Nobilis Health  (HLTH - Get Report) , which owns and manages ambulatory surgical centers and surgical hospitals in the U.S. This stock has been destroyed by the sellers over the six months, with shares falling sharply by 68.3%.

If you take a glance at the chart for Nobilis Health, you'll notice that this stock recently formed a double bottom chart pattern, after shares found some buying interest at $2.23 to $2.16 a share. Following that potential bottom, this stock has now started to trend back above its 20-day moving average of $2.31 a share. That trend is now quickly pushing shares of Nobilis Health within range of triggering a near-term breakout trade above some key overhead resistance levels.

Traders should now look for long-biased trades in Nobilis Health if it manages to break out above some near-term overhead resistance levels at $2.50 to $2.60 a share with volume that hits near or above its three-month average action of 548,617 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 $2.70 to $2.77, or even its 50-day moving average of $2.81 to its 200-day moving average of $3.02 a share.

Traders can look to buy this stock off weakness to anticipate that breakout and simply use a stop that sits right around some near-term support levels at $2.20 to $2.16 a share. One can also buy shares of Nobilis Health 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.

T2 Biosystems

Another under-$10 stock that's starting to spike within range of triggering a big breakout trade is T2 Biosystems  (TTOO - Get Report) , which develops diagnostic products and product candidates in the U.S. This stock has been smacked lower by the sellers over the last six months, with shares off sharply by 38.6%.

If you look at the chart for T2 Biosystems, you'll notice that this stock recently gapped-down sharply lower from around $8 a share to under $5.50 a share with heavy downside volume flows. Following that move, this stock went on to print a new 52-week low of $4.92 a share on Wednesday. That said, shares of T2 Biosystems have now started to rebound a bit off that $4.92 low with above-average volume. That high-volume rebound is now quickly pushing this stock within range of triggering a big breakout trade above some key near-term overhead resistance levels.

Market players should now look for long-biased trades in T2 Biosystems if it manages to break out above some near-term overhead resistance levels at Wednesday's intraday high of $5.12 a share and then once it takes out more key resistance levels at $5.50 to $5.61 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 102,723 shares. If that breakout gets started soon, then this stock will set up to re-test or possibly take out its next major overhead resistance level at its gap-down-day high of around $6.75 a share or its 20-day moving average of $7.72 a share.

Traders can look to buy T2 Biosystems off weakness to anticipate that breakout and simply use a stop that sits right below its new 52-week low of $4.92 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.

Pieris Pharmaceuticals

One final under-$10 clinical stage biopharmaceutical player that's starting to move within range of triggering a near-term breakout trade is Pieris Pharmaceuticals  (PIRS - Get Report) , which discovers and develops Anticalin-based drugs. This stock has been under notable selling pressure over the last three months, with shares falling by 26%.

If you take a glance at the chart for Pieris Pharmaceuticals, you'll notice that this stock recently formed a double bottom chart pattern, after shares found some buying interest at $1.53 to $1.55 a share over the last few weeks. Following that potential bottom, this stock has now started to spike higher back above both its 20-day moving average of $1.66 a share and its 50-day moving average of $1.73 a share with decent upside volume flows. That high-volume move to the upside is now quickly pushing shares of Pieris Pharmaceuticals within range of triggering a near-term breakout trade.

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 its 200-day moving average of $1.91 a share and then once it takes out more key resistance levels at $1.94 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 116,565 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 $2.10 to $2.25, or even $2.40 to $2.45 a share.

Traders can look to buy shares of Pieris Pharmaceuticals 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 trend 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.