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 solid 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 Power Solutions International (PSIX) , which is ripping higher by 75%; Superconductor Technologies (SCON) , which is surging by 35%; XTL Biopharmaceuticals (XTLB) , which is soaring by 26%; and Memorial Production Partners (MEMP) , which is spiking up by 20%. 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.

Arrowhead Pharmaceuticals

One under-$10 biopharmaceutical player that's starting to move within range of triggering a big breakout trade is Arrowhead Pharmaceuticals (ARWR) , which develops novel drugs to treat intractable diseases in the U.S. This stock has been destroyed by the sellers over the last six months, with shares collapsing by 66%.

If you take a look at the chart for Arrowhead Pharmaceuticals, you'll notice that this stock has been uptrending strong over the last two months and change, with shares moving higher off its low of $1.20 a share to its recent high of $2.38 a share. During that uptrend, shares of Arrowhead Pharmaceuticals have been making mostly higher lows and higher highs, which is bullish technical price action. This stock has also just started to rip higher off its 20-day moving average of $1.90 a share, and that rip up is now quickly pushing shares of Arrowhead Pharmaceuticals within range of triggering a big breakout trade.

Market players should now look for long-biased trades in Arrowhead Pharmaceuticals if it manages to break out above some near-term overhead resistance levels $2.30 to $2.38 a share with high volume. Look for a sustained move or close above those levels with volume that hits ear or above its three-month average volume of 2.02 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 last November that started near $4.50 a share.

Traders can look to buy this stock off weakness to anticipate that breakout and simply use a stop that sits right around its 20-day moving average of $1.90 a share. One can also buy shares of Arrowhead 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.

Aptevo Therapeutics

Another under-$10 biotechnology player that's starting to spike within range of triggering a big breakout trade is Aptevo Therapeutics (APVO) , which provides oncology and hematology therapeutics. This stock has been smacked hard by the sellers over the last six months, with shares off by 33.7%.

If you take a glance at the chart for Aptevo Therapeutics, you'll notice that this stock recently formed a double bottom chart pattern, after shares found some buying interest at $1.81 to $1.85 a share over the last two months and change. Following that potential bottom, this stock has now started to rebound higher and flirt with its 20-day moving average of $2.02 a share. That modest rebound is now quickly pushing shares of Aptevo Therapeutics within range of triggering a big breakout trade above some key near-term overhead resistance levels.

Traders should now look for long-biased trades in Aptevo Therapeutics if it manages to break out above some near-term overhead resistance levels at $2.10 to $2.17 a share and then above its 50-day moving average of $2.19 a share with volume that hits near or above its three-month average action of 223,913 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 $2.50 to $2.70, or even $3 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 Aptevo 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.

Cerecor

One under-$10 clinical-stage biopharmaceutical player that's trending within range of triggering a big breakout trade is Cerecor (CERC) , which develops drugs to treat patients with neurological and psychiatric disorders. This stock has been destroyed by the sellers over the last six months, with shares plunging lower by 80%.

If you look at the chart for Cerecor, you'll notice that this stock has been trending sideways and consolidating over the last month or so, with shares moving between 78 cents per share on the downside and 99 cents per share on the upside. This stock is now starting to find some modest buying interest at around 80 cents per share, which represents the bottom of its recent range. This modest buying interest is now starting to push shares of Cerecor within range of triggering a big breakout trade above some key overhead resistance levels.

Market players should now look for long-biased trades in Cerecor if it manages to break out above its 20-day moving average of 84 cents per share to 90 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 258,184 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 96 cents per share to 99 cents, or even $1.10 to $1.24 a share.

Traders can look to buy Cerecor off weakness to anticipate that breakout and simply use a stop that sits right around its recent low at 76 cents per 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.

Strongbridge Biopharma

Another under-$10 biopharmaceutical player that's trending within range of triggering a big breakout trade is Strongbridge Biopharma (SBBP) , which focuses on the development, in-licensing, acquisition, and commercialization of various complementary products and product candidates that target rare diseases in the U.S. and internationally. This stock has been under heavy selling pressure over the last six months, with shares falling by 42%.

If you look at the chart for Strongbridge Biopharma, you'll notice that this stock reverently formed a double bottom chart pattern, after shares found some buying interest at $2.10 to $2 a share over the last month and change. Following that potential bottom, this stock has now started to spike higher and move back above its 20-day moving average of $2.36 a share with strong upside volume flows. This high-volume bump to the upside is now quickly pushing shares of Strongbridge Biopharma within range of triggering a big breakout trade above some key overhead resistance levels.

Market players should now look for long-biased trades in Strongbridge Biopharma if it manages to break out above some near-term overhead resistance levels at $2.60 to its 50-day moving average of $2.70 a share and then above more key resistance at $2.85 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 91,373 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 $3.30 to $3.60, or even $4 a share.

Traders can look to buy Strongbridge Biopharma off weakness to anticipate that breakout and simply use a stop that sits right below its 20-day moving average of $2.36 a share, or around those recent double bottom support levels. 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.

Tahoe Resources

One final under-$10 basic materials player that's starting to spike within range of triggering a near-term breakout trade is Tahoe Resources (TAHO) , which explores, develops, and operates mines in the Americas. This stock has been smacked lower by the sellers over the last six months, with shares dropping sharply by 43.5%.

If you take a glance at the chart for Tahoe Resources, you'll notice that this stock recently formed a triple bottom chart pattern, after shares found some buying interest at $8.66, $8.57 and $8.82 a share over the last month. Following that potential bottom, this stock has now started to spike higher and flirt with its 20-day moving average of $9.09 a share. That spike is quickly pushing shares of Tahoe Resources within range of triggering a near-term breakout trade above a key downtrend line that dates back to the start of the year.

Traders should now look for long-biased trades in Tahoe Resources if it manages to break above that downtrend line that starts over its 50-day moving average of $9.24 a share and then above some key near-term resistance at $9.56 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 2.44 million 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 $10 to $10.50, or even $11.38 to its 200-day moving average of $12.06 a share.

Traders can look to buy shares of Tahoe Resources 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.

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

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