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 Thursday, including Tokai Pharmaceuticals (TKAI) , which is ripping up by 35%; Globalstar (GSAT) , which is soaring by 30%; Navios Maritime Holdings (NM) , which is spiking by 20%; and Second Sight Medical Products (EYES) , which is surging by 13%. 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 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.

Sorrento Therapeutics

One under-$10 biopharmaceutical player that's starting to trend within of triggering a near-term breakout trade is Sorrento Therapeutics (SRNE) , which focuses on the discovery, acquisition, development, and commercialization of proprietary drug therapeutics for addressing unmet medical needs worldwide. This stock has been smacked lower by the sellers over the last six months, with shares off sharply by 32.3%.

If you take a glance at the chart for Sorrento Therapeutics, you'll notice that this stock recently formed a double bottom chart pattern, after shares found some buying interest at $5.05 to $4.95 a share over the last month. Following that potential bottom, shares of Sorrento Therapeutics have now started to trend a bit higher and the stock is flirting with its 20-day moving average of $5.30 a share. That modest uptrend is now quickly pushing 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 Sorrento Therapeutics if it manages to break out above some near-term overhead resistance levels at $5.60 to its 50-day moving average of $5.83 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 249,303 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 200-day moving average of $6.33 a share to $6.38, or even $6.60 to $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 those recent double bottom support levels. One can also buy shares of Sorrento Therapeutics 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.

Bellerophon Therapeutics

Another under-$10 clinical-stage therapeutics player that's starting to spike within range of triggering a big breakout trade is Bellerophon Therapeutics (BLPH) , which focuses on the development of products at the intersection of drugs and devices that address unmet medical needs in the treatment of cardiopulmonary diseases. This stock has been destroyed by the sellers over the last six months, with shares falling sharply by 68.3%.

If you take a look at the chart for Bellerophon Therapeutics, you'll notice that this stock has been consolidating and trending sideways over the last month and change, with shares moving between 43 cents per share on the downside and 70 cents per share on the upside. Shares of Bellerophon Therapeutics have now started to rip higher right off its 20-day moving average of 53 cents per share with strong upside volume flows. This high-volume spike to the upside is now quickly pushing this stock within range of triggering a big breakout trade above the upper-end of its recent sideways trending chart pattern.

Market players should now look for long-biased trades in Bellerophon Therapeutics if it manages to break out above some near-term overhead resistance levels at 62 to 63 cents per share and then above more resistance at 70 cents per 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 255,023 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 89 cents per share to $1, or even $1.19 to $1.25 a share.

Traders can look to buy this stock off weakness to anticipate that breakout and simply use a stop that sits right below its 20-day moving average of 53 cents per share. One can also buy shares of Bellerophon 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.

Retractable Technologies

One under-$10 healthcare player that's starting to trend within range of triggering a near-term breakout trade is Retractable Technologies (RVP) , which designs, develops, manufactures, and markets safety syringes and other safety medical products for the healthcare industry in the U.S. and internationally. This stock has been hit hard by the sellers over the last six months, with shares falling large by 66.5%.

If you take a glance at the chart for Retractable Technologies, you'll notice that this stock recently gapped-down sharply lower from around $2.50 a share to $1.15 a share with monster downside volume flows. Following that move, shares of Retractable Technologies went on to print a new 52-week low of 88 cents per share as the downside volume into that drop continued to be brisk. That said, this stock has now started to consolidate a bit and stabilize just above 88 cents per share, and it's beginning to trend within range of triggering a big breakout trade above some key overhead resistance levels.

Traders should now look for long-biased trades in Retractable Technologies if it manages to break out above some near-term overhead resistance levels at 96 cents to $1 a share and then above more resistance levels at $1.05 to $1.10 a share with volume that hits near or above its three-month average action of 85,364 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 $1.20 to $1.30, or even its 20-day moving average of $1.38 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 88 cents per share. One can also buy shares of Retractable Technologies 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.

Nivalis Therapeutics

Another under-$10 clinical stage pharmaceutical player that's starting to trend within range of triggering a major breakout trade is Nivalis Therapeutics  (NVLS) , which focuses on the discovery, development, and commercialization of product candidates for patients with cystic fibrosis (CF). This stock has been smacked lower by the bears over the last six months, with shares dropping dramatically by 50.1%.

If you look at the chart for Nivalis Therapeutics, you'll notice that this stock recently gapped-down sharply from around $6.30 a share to its new 52-week low of $2 a share with monster downside volume flows. Following that move, this stock has now started to stabilize a bit and trending sideways over the last month, with shares moving between $2 on the downside and $2.38 a share on the upside. That recent gap to the downside has now pushed Nivalis Therapeutics into extreme oversold territory, since its current relative strength index reading is 21.3. Oversold can always get more oversold, but it's also an area where a stock can produce a powerful rebound higher from.

Market players should now look for long-biased trades in Nivalis Therapeutics if it manages to break out above some near-term overhead resistance levels at $2.20 to $2.28 a share and then above more resistance at $2.38 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 298,814 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 its 20-day moving average of $2.56 a share to its gap-down-day high from November around $3 a share. Any high-volume move above $3 will then give this stock a chance to re-fill some of its previous gap-down-day zone that started near $6.30 a share.

Traders can look to buy Nivalis Therapeutics off weakness to anticipate that breakout and simply use a stop that sits right below its new 52-week low of $2 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.

Adamis Pharmaceuticals

One final under-$10 specialty biopharmaceutical player that's starting to move within range of triggering a near-term breakout trade is Adamis Pharmaceuticals  (ADMP) , which engages in developing and commercializing products in the therapeutic areas of allergy and respiratory disease. This stock has been under some notable selling pressure over the last three months, with shares off by 19.6%.

If you take a glance at the chart for Adamis Pharmaceuticals, you'll notice that this stock recently formed a double bottom chart pattern, after shares found some buying interest at $2.50 to $2.55 a share over the last two months. Following that potential bottom, this stock has now started to spike a bit higher and flirt with its 50-day moving average of $2.80 a share. That bump to the upside is now quickly pushing shares of Adamis Pharmaceuticals within range of triggering a near-term breakout trade above some key overhead resistance levels.

Traders should now look for long-biased trades in Adamis Pharmaceuticals if it manages to break out above both its 50-day moving average of $2.80 a share and its 20-day moving average of $2.89 a share and then above more resistance at around $3 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 239,789 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 $3.35 to $3.50, or even $3.64 to around $4 a share.

Traders can look to buy shares of Adamis Pharmaceuticals 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 trend back 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 a long position in shares of NVLS.

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