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 on Friday, including Eco-Stim Energy Solutions (ESES) , which is soaring by 38.2%; Pulmatrix (PULM) , which is ripping up by 38%; Lantronix (LTRX) , which is soaring by 19%; and Heat Biologics (HTBX) , which is running up by 18%. 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.

ChinaCache International

One under-$10 technology player that's starting to move within range of triggering a near-term breakout trade is ChinaCache International (CCIH) , which provides content and application delivery services in the People's Republic of China. This stock has been smacked lower by the sellers over the last six months, with shares dropping sharply by 58.2%.

If you take a look at the chart for ChinaCache International, you'll notice that this stock recently formed a double bottom chart pattern, after shares found some buying interest at $2.33 to $2.42 a share over the last month. Following that potential bottom, shares of ChinaCache International have now started to spike modestly higher and flirt with its 20-day moving average of $2.61 a share. That spike 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 ChinaCache International if it manages to break out above its 20-day moving average of $2.61 a share and then once it clears some near-term overhead resistance levels at $2.73 to its 50-day moving average of $2.81 a share and then above $2.95 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 volume of 53,713 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 $3.33 to $3.42, or even $3.65 to $4.10 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 ChinaCache International 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.

Roka Biosciences

Another under-$10 molecular diagnostics player that's starting to trend within range of triggering a big breakout trade is Roka Biosciences (ROKA) , which focuses on the development and commercialization of molecular assay technologies for the detection of foodborne pathogens in the U.S. This stock has been hit hard by the sellers over the last six months, with shares falling sharply lower by 53.5%.

If you take a glance at the chart for Roka Biosciences, you'll notice this stock recently formed a "triple bottom" chart pattern, after shares found some buying interest at $4.05, $4.07 and $4.06 a share over the last two months and change. Following that potential bottom, shares of Roka Biosciences have now started to trend a bit higher and flirt with both its 20-day moving average of $4.55 a share and its 50-day moving average of $4.57 a share. That slight bump to the upside is now quickly pushing this stock within range of triggering a big breakout trade above some near-term overhead resistance levels.

Traders should now look for long-biased trades in Roka Biosciences if it manages to break out above both of those key moving averages and then above more near-term overhead resistance levels at $4.72 to around $5 a share with volume that registers near or above its three-month average action of 139,405 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 $5.50 to $6.20, or even its 200-day moving average of $6.44 a share to $6.75 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 triple bottom support levels. One can also buy shares of Roka Biosciences 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.

OncoMed Pharmaceuticals

One under-$10 clinical development-stage biopharmaceutical player that's starting to trend within range of triggering a near-term breakout trade is OncoMed Pharmaceuticals (OMED) , which discovers and develops novel anti-cancer stem cell (CSC) and immuno-oncology therapeutics. This stock has been under selling pressure over the last six months, with shares falling notably by 36.2%.

If you look at the chart for OncoMed Pharmaceuticals, you'll notice that this stock recently formed a triple bottom chart pattern, after shares found some buying interest at $7.44, $7.42 and $7.41 a share over the last two months. Following that potential bottom, shares of OncoMed Pharmaceuticals have now started to rebound slightly higher and it's flirting with its 20-day moving average of $7.99 a share. That bump to the upside 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 OncoMed Pharmaceuticals if it manages to break out above its 20-day moving average of $7.99 a share and then above its 50-day moving average of $8.27 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 163,492 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 $8.88 to $9.50, or even $9.77 to $10.50 a share.

Traders can look to buy OncoMed Pharmaceuticals off weakness to anticipate that breakout and simply use a stop that sits right below those recent triple 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.

Onconova Therapeutics

Another under-$10 clinical-stage biopharmaceutical player that's trending within range of triggering a big breakout trade is Onconova Therapeutics (ONTX) , which focuses on discovering and developing small molecule drug candidates to treat cancer. This stock has been knocked down by the bears over the last six months, with shares trading off by 32.5%.

If you look at the chart for Onconova Therapeutics, you'll notice that this stock has been uptrending a bit over the last month or so, with shares moving higher off its low of $2.35 a share to its recent high of $2.75 a share. During that uptrend, shares of Onconova Therapeutics have been making mostly higher lows and higher highs, which is bullish technical price action. That uptrend has also pushed this stock back above its 20-day moving average of $2.54 a share and right into its 50-day moving average of $2.64 a share. This stock is now starting to trend within range of triggering a big breakout trade above some key overhead resistance levels.

Market players should now look for long-biased trades in Onconova Therapeutics if it manages to break out above some near-term overhead resistance levels at $2.70 to $2.75 a share and then above more resistance at $2.90 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 112,492 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 $3.20 to its 200-day moving average of $3.60 a share, or even $3.70 to $4 a share.

Traders can look to buy Onconova Therapeutics off weakness to anticipate that breakout and simply use a stop that sits right below some near-term support levels at $2.35 or at $2.20 a share. 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.

Neothetics

One final under-$10 clinical-stage specialty pharmaceutical player that's quickly trending within range of triggering a major breakout trade is Neothetics (NEOT) , which develops therapeutics for the aesthetic market. This stock has been in favor with the bulls over the last six months, with shares ripping higher by 30.5%.

If you take a glance at the chart for Neothetics, you'll notice that this stock has been uptrending over the last two months, with shares moving higher off its low of 80 cents per share to its recent high of $1.46 a share with a number of strong upside volume days. During that uptrend, this stock has been consistently making higher lows and higher highs, which is bullish technical price action. That strong uptrend has now pushed shares of Neothetics within range of triggering a major breakout trade above some key overhead resistance levels.

Traders should now look for long-biased trades in Neothetics if it manages to break out above some key overhead resistance levels at $1.46 to $1.50 a share and then above its 52-week high of $1.56 a share to its gap-down-day high from last December at $1.88 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 108,905 shares. If that breakout triggers soon, then this stock will set up to re-fill some of its previous gap-down-day zone that started near $8 a share.

Traders can look to buy shares of Neothetics off weakness to anticipate that breakout and simply use a stop that sits right below its 20-day moving average of $1.20 a share or around its 50-day moving average of $1.16 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.

This article is commentary by an independent contributor. At the time of publication, the author held a long position in shares of ONTX.

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