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 OpGen (OPGN - Get Report) , which exploded up by 135.6%; Globus Maritime (GLBS - Get Report) , which soared by 86%; Sunshine Heart (SSH) , which ripped up by 42.1%; and Skypeople Fruit Juice (SPU) , which surged higher by 36.1%. 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.

Calithera Biosciences

One under-$10 clinical-stage biopharmaceutical player that's starting to spike within range of triggering a big breakout trade is Calithera Biosciences  (CALA - Get Report) , which focuses on discovering and developing small molecule drugs directed against tumor metabolism and tumor immunology targets for the treatment of cancer in the U.S. This stock has been slammed lower by the bears over the last six months, with share plunging lower by 42.6%.

If you take a glance at the chart for Calithera Biosciences, you'll notice that this stock has been downtrending badly over the last two months, with shares sliding sharply lower off its high of $6 a share to its new 52-week low of $2.87 a share, which was hit intraday on Wednesday. During that move to the downside, this stock has been consistently making lower highs and lower lows, which is bearish technical price action. That said, shares of Calithera Biosciences spiked notably higher on Wednesday right off that low of $2.87 a share with strong upside volume flows.

Volume for that trading session registered over 470,000 shares, which is well above its three-month average action of 211,243 a shares. This high-volume rebound is also coming off extremely oversold levels, since the current relative strength index reading for shares of Calithera Biosciences is 27. Oversold can always get more oversold, but it's also an area where a stock can make a powerful bounce higher from if the sellers get exhausted and aggressive volume buyers step into the stock.

Market players should now look for long-biased trades in shares of Calithera Biosciences if it manages to break out above some near-term overhead resistance levels at $3.17 to $3.25 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 211,243 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 $3.61 to its 20-day moving average of $3.64, or even $3.85 to $4.11 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 $2.87 a share. One can also buy shares of Calithera Biosciences 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.

Tokai Pharmaceuticals

Another under-$10 biopharmaceutical player that's starting to trend within range of triggering a near-term breakout trade is Tokai Pharmaceuticals  (TKAI) , which focuses on developing and commercializing therapies for prostate cancer and other hormonally-driven diseases. This stock has been smacked lower by the sellers over the last three months, with shares off sharply by 25.2%.

If you take a look at the chart for Tokai Pharmaceuticals, you'll notice that this stock has been downtrending badly over the last four months, with shares moving sharply lower off its high of $8.80 a share to its recent low of $5.03 a share. During that move, this stock has been consistently making lower highs and lower lows, which is bearish technical price action. That said, shares of Tokai Pharmaceuticals have now started to rebound off some previous support at $5 a share, and it's quickly spiking within range of triggering a major breakout trade above some key overhead resistance levels.

Market players should now look for long-biased trades in Tokai Pharmaceuticals if it manages to break out above its 20-day moving average of $5.43 a share and then above more near-term overhead resistance levels at $5.50 to $5.90 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 57,759 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 $6.27 to $6.78, or even $7 to around $7.50 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 support levels at $5.03 to $5 a share, or around its 52-week low of $4.93 a share. One can also buy shares of Tokai 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.

Argos Therapeutics

Another under-$10 biopharmaceuticals player that's starting to trend within range of triggering a big breakout trade is Argos Therapeutics  (ARGS) , which focuses on the development and commercialization of individualized immunotherapies for the treatment of cancer and infectious diseases in North America. This stock has exploded higher over the last six months, with shares up huge by 174.4%.

If you take a glance at the chart for Argos Therapeutics, you'll notice that this stock spiked sharply higher on Wednesday right off its 20-day moving average of $5.93 a share and back above its 50-day moving average of $6.05 a share with lighter-than-average volume. This jump to the upside is now quickly pushing shares of Argos Therapeutics within range of triggering a big breakout trade above some key overhead resistance levels.

Traders should now look for long-biased trades in Argos Therapeutics if it manages to break out above Wednesday's intraday high of $6.44 a share and then above more near-term resistance at $6.50 a share with volume that hits near or above its three-month average action of 361,292 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 $7.90 to $8.20, or even $9.22 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 $5.93 a share or around more key near-term support levels at $5.62 to $5.25 a share. One can also buy shares of Argos Therapeutics 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.

KongZhong

Another under-$10 stock that's starting to rip within range of triggering a big breakout trade is KongZhong  (KZ) , which provides digital entertainment services for consumers in the People's Republic of China and internationally. This stock has been hit hard by the sellers over the last three months, with shares down sharply by 32.8%.

If you look at the chart for KongZhong, you'll notice that this stock has been downtrending badly over the last three months, with shares collapsing off its high of $7.39 a share to its new 52-week low of $4.70 a share. During that move, this stock has been consistently making lower highs and lower lows, which is bearish technical price action. That said, shares of KongZhong trended notably higher on Wednesday right off its new 52-week low of $4.70 a share with monster upside volume flows.

Volume for that trading session registered over 2.12 million shares, which is well above its three-month average action of 116,437 shares. This high-volume rebound to the upside is now quickly pushing shares of KongZhong within range of triggering a big breakout trade above some key overhead resistance levels.

Market players should now look for long-biased trades in KongZhong if it manages to break out above some near-term overhead resistance levels at $4.96 to $5 a share and then above more key resistance levels at $5.12 to its 50-day moving average of $5.28 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 116,437 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 $5.50 to $5.88, or even $6.20 to $6.50 a share.

Traders can look to buy KongZhong off weakness to anticipate that breakout and simply use a stop that sits right below its new 52-week low of $4.70 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.

Ariad Pharmaceuticals

One final under-$10 oncology player that's starting to spike within range of triggering a big breakout trade is Ariad Pharmaceuticals  (ARIA) , which engages in the discovery, development, and commercialization of drugs for cancer patients in the U.S. and internationally. This stock has been in play with the bulls over the last six months, with shares soaring higher by 39.6%.

If you take a glance at the chart for Ariad Pharmaceuticals, you'll notice that this stock ripped sharply higher on Wednesday right off some near-term support at $6.97 a share and back above its 20-day moving average of $7.28 a share with monster upside volume flows. Volume for that trading session registered over 9.17 million shares, which is well above its three-month average action of 4.09 million shares. This high-volume jump to the upside is now quickly pushing shares of Ariad Pharmaceuticals within range of triggering a big breakout trade above some key overhead resistance levels.

Traders should now look for long-biased trades in Ariad Pharmaceuticals if it manages to break out above some near-term overhead resistance levels at $7.66 to its 50-day moving average of $7.76 a share and then above some more resistance near $8 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 4.09 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 $8.75 to $9.20, or even its 52-week high of $10.07 a share.

Traders can look to buy shares of Ariad Pharmaceuticals off weakness to anticipate that breakout and simply use a stop that sits near its 20-day moving average of $7.28 a share or around more key support levels at $6.97 to $6.70 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.