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 big movers to the upside in the under-$10 complex from Wednesday, including Catalyst Pharmaceuticals (CPRX) , which soared by 30.3%; Aemetis (AMTX) , which ripped up by 26.9%; Corbus Pharmaceuticals (CRBP) , which surged by 26.3%; and Vanguard Natural Resources (VNR) , which jumped by 20.2%. 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.

Bonanza Creek Energy

One under-$10 independent energy player that's starting to move within range of triggering a big breakout trade is Bonanza Creek Energy  (BCEI) , which engages in the acquisition, exploration, development, and production of onshore oil and associated liquids-rich natural gas in the U.S. This stock has been smacked lower by the sellers over the last three months, with shares falling sharply lower by 46.1%.

If you take a glance at the chart for Bonanza Creek Energy, you'll notice that this stock recently formed a double bottom chart pattern, after shares found some buying interest at 81 to 82 cents per share over the last month and change. Following that potential bottom, this stock has now started to spike higher and move back above its 50-day moving average of 98 cents per share. That spike is now quickly pushing shares of Bonanza Creek Energy 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 Bonanza Creek Energy if it manages to break out above its 20-day moving average of $1.09 a share and then above more near-term resistance at $1.13 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 3.24 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 $1.25 to $1.42, or even $1.55 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 its 50-day moving average of 98 cents per share, or around those recent double bottom support levels. One can also buy shares of Bonanza Creek Energy 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.

Tokai Pharmaceuticals

An under-$10 biopharmaceutical player that's starting to trend within range of triggering a major 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 destroyed by the sellers over the last six months, with shares collapsing by 72.4%.

If you take a look at the chart for Tokai Pharmaceuticals, you'll notice that this stock has been uptrending over the last month, with shares soaring higher off its new 52-week low of 98 cents per share to its recent high of $1.85 a share with monster upside volume flows. During that uptrend, this stock has been making mostly higher lows and higher highs, which is bullish technical price action. This strong move has now pushed shares of Tokai Pharmaceuticals 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 some near-term overhead resistance levels at $1.65 to $1.69 a share and then above more resistance at $1.85 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 1.31 million shares. If that breakout hits soon, then this stock will set up to re-fill some of its previous gap-down-day zone from July that started near $5.50 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 at $1.50 a share, or close to its 20-day moving average of $1.37 a share. One can also buy shares of Tokai Pharmaceuticals 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.

Ascena Retail Group

An under-$10 apparel stores player that's starting to rip within range of triggering a big breakout trade is Ascena Retail Group  (ASNA) , which operates as a specialty retailer of apparel, shoes and accessories for women and tween girls in the U.S. This stock has been smashed lower by the bears over the last six months, with shares off sharply by 42.7%.

If you take a glance at the chart for Ascena Retail Group, you'll notice that this stock recently gapped-down sharply lower from around $8.30 a share to under $6 a share with monster downside volume flows. Following that move, this stock went on to form a double bottom chart pattern, after shares found some buying interest at $5.33 to $5.35 a share over the last few weeks. Shares of Ascena Retail Group have now started to rip higher right above those double bottom support levels with big upside volume flows.

Volume on Wednesday registered over 6.14 million shares, which is well above its three-month average action of 3.03 million shares. This high-volume spike to the upside is now quickly pushing shares of Ascena Retail Group within range of triggering a big breakout trade above some key overhead resistance levels.

Traders should now look for long-biased trades in Ascena Retail Group if it manages to break out above Wednesday's intraday high of $6.03 a share and then once it clears more near-term overhead resistance levels at $6.07 to its gap-down-day high from September of $6.15 a share with volume that registers near or above its three-month average action of 3.03 million shares. If that breakout takes hold soon, then this stock will set up to re-fill some of its previous gap-down-day zone that started near $8.30 a share.

Traders can look to buy this stock 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 shares of Ascena Retail Group 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.

MobileIron

Another under-$10 stock that's starting to trend within range of triggering a near-term breakout trade is MobileIron  (MOBL) , which provides a purpose-built mobile IT platform that enables enterprises to secure and manage mobile applications, content and devices while providing their employees with device choice, privacy and a native user experience. This stock has been in a negative trend over the last six months, with shares falling sharply by 37.7%.

If you look at the chart for MobileIron, you'll notice that this stock recently formed a double bottom chart pattern, after shares found some buying interest at $2.56 to $2.60 a share over the last few weeks. Following that potential bottom, this stock has now started to trend a bit higher and move back above its 20-day moving average of $2.74 a share with heavy upside volume flows. Volume on Wednesday registered over 893,000 shares, which is well above its three-month average action of 281,092 shares. This high-volume jump to the upside is now quickly pushing shares of MobileIron 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 MobileIron if it manages to break out above some near-term overhead resistance levels at $2.78 to $2.80 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 281,092 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 its 50-day moving average of $3.02 a share to $3.18, or even its 200-day moving average of $3.47 a share to $3.70 a share.

Traders can look to buy MobileIron off weakness to anticipate that breakout and simply use a stop that sits right below those recent double bottom support levels. 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.

Nabriva Therapeutics

One final under-$10 clinical stage biopharmaceutical player that's starting to move within range of triggering a near-term breakout trade is Nabriva Therapeutics  (NBRV) , which engages in the research and development of anti-infective agents to treat infections in humans. This stock has been under some selling pressure over the last six months, with shares down by 15.4%.

If you take a glance at the chart for Nabriva Therapeutics, you'll notice that this stock spiked notably higher on Wednesday right off some near-term support at $7 a share with strong upside volume flows. Volume for that trading session registered over 62,000 shares, which is well above its three-month average action of 9,825 shares. This high-volume bump to the upside is now quickly pushing shares of Nabriva Therapeutics within range if triggering a near-term breakout trade above some key overhead resistance levels.

Traders should now look for long-biased trades in Nabriva Therapeutics if it manages to break out above some near-term overhead resistance levels at $7.50 to its 50-day moving average of $7.60 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 9,825 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 $8 to its 200-day moving average of $8.15 a share, or even $8.60 to around $9 a share.

Traders can look to buy shares of Nabriva Therapeutics off weakness to anticipate that breakout and simply use a stop that sits right around some key near-term support levels at $7 to $6.85 a share, or near its all-time low of $6.61 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.

This article is commentary by an independent contributor. At the time of publication, the author held no positions in the stocks mentioned.