Stock Quotes in this Article: ADXS, ARWR, CETV, NNVC, PRKR

DELAFIELD, Wis. (Stockpickr) -- There isn't a day that goes by on Wall Street when certain stocks trading for $10 a share or less don't experience massive spikes higher. Traders savvy enough to follow the low-priced names and trade them with discipline and sound risk management are banking ridiculous coin on a regular basis.

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Just take a look at some of the hot movers in the under-$10 complex from Friday, including Zoom Technologies (ZOOM), which skyrocketed higher by 169%; Authentidate (ADAT), which exploded higher by 31%; Aastrom Biosciences (ASTM), which ripped higher by 27%; and Sino-Global Shipping America (SINO), which spiked sharply higher by 23%. You don't even have to catch the entire move in lower-priced stocks such as these to make outsized returns when trading.

One low-priced stock that recently soared sharply higher was integrated circuits player Performance Technologies (PTIX), which I highlighted in Nov. 21's "5 Stocks Under $10 Set to Soar" at $2.98 per share. I mentioned in that piece that shares of Performance Technologies had been trending sideways and consolidating for the last three months, with the stock trading between $2.50 on the downside and $3.97 on the upside. Shares of PTIX had just started to spike higher back above its 50-day moving average and it was quickly moving within range of triggering a breakout trade above the upper-end of its recent range.

Guess what happened? Shares of Performance Technologies didn't take long to trigger that move, since the stock skyrocketed higher the following day with heavy upside volume. This stock tagged an intraday high on Nov. 22 of $4.23 a share, which represents a huge gain of over 40% in just one day. The breakout for PTIX didn't hold following the move, but fast traders were able to capitalize and play the momentum for solid gains as PTIX took out all of the resistance levels I mentioned in the article.

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Low-priced stocks are something that I tweet about on a regular basis. 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.

I'm not as eager to recommend investing long-term in stocks that trade less than $10 a share because these names can be very speculative, and the odds for picking the long-term winners aren't great. But I definitely love to trade stocks that are priced below $10. I like to view them as a trading vehicle with lots of volatility and lots of upside when the trade is timed right.

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When I trade under-$10 names, I do it almost entirely based off of the charts and technical analysis. I also like to find under-$10 names 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.

ParkerVision


One under-$10 technology player that's quickly moving within range of triggering a major breakout trade is ParkerVision (PRKR), which designs, develops and markets its proprietary radio frequency technologies and products for use in semiconductor circuits for wireless communication products. This stock has been red hot so far in 2013, with shares up sharply by 105%.

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If you take a look at the chart for ParkerVision, you'll notice that this stock has been uptrending strong for the last month, with shares soaring higher from its low of $2.38 to its recent high of $4.29 a share. During that uptrend, shares of PRKR have been consistently making higher lows and higher highs, which is bullish technical price action. That move has now pushed share of PRKR back above both its 50-day and 200-day moving averages. Shares of PRKR have now moved within range of triggering a major breakout trade.

Traders should now look for long-biased trades in PRKR if it manages to break out above some near-term overhead resistance at $4.29 a share with high volume. Look for a sustained move or close above that level with volume that hits near or above its three-month average volume of 2.51 million shares. If that breakout triggers soon, then PRKR will set up to re-fill some of its previous gap down zone from late October that started at $7.50 a share. Some possible upside targets if PRKR gets into that gap down zone with volume are $5 to $6 a share.

Traders can look to buy PRKR off any weakness to anticipate that breakout and simply use a stop that sits right below its 200-day moving average of $3.90 a share, or near its 50-day moving average of $3.56 a share. One can also buy PRKR off strength once it takes out $4.29 a share with volume and then simply use a stop that sits a comfortable percentage from your entry point.

Advaxis

Another under-$10 biotechnology player that's starting to trend within range of triggering a big breakout trade is Advaxis (ADXS), which develops safe and effective immunotherapies for cancer and infectious diseases with its lead construct, ADXS-HPV, being evaluated in five clinical trials for HPV-associated diseases. This stock has been in favor with the bulls for the last three months, with shares up 21%.

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If you take a look at the chart for Advaxis, you'll notice that this stock has been uptrending over the last few weeks with strong upside volume flows, with shares moving higher from its low of $2.88 to its recent high of $3.96 a share. During that move, shares of ADXS have been consistently making higher lows and higher highs, which is bullish technical price action. That move has now pushed shares of ADXS within range of triggering a big breakout trade.

Market players should now look for long-biased trades in ADXS if it manages to break out above some near-term overhead resistance levels at $3.96 to $4 a share, and then once it takes out its 50-day moving average of $4.33 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 253,959 shares. If that breakout hits soon, then ADXS will set up to re-fill some of its previous gap down zone from October that started near $5.50 a share. If that gap gets filled with volume, then ADXS could tag its next major overhead resistance levels at $5.83 to its 200-day moving average at $6.35 a share, or even $7 a share.

Traders can look to buy ADXS off any weakness to anticipate that breakout and simply use a stop that sits right below some near-term support levels at $3.50 to $3.40 a share. One can also buy ADXS 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.

Nanoviricides


One under-$10 nano-biopharmaceutical player that's starting to trend within range of triggering a big breakout trade is Nanoviricides (NNVC), which engages in the discovery, development and commercialization of anti-viral therapeutics primarily in the U.S. This stock has been ripping to the upside so far in 2013, with share up big by 198%.

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If you take a look at the chart for Nanoviricides, you'll notice that this stock has recently formed a double bottom chart pattern at $4.55 to $4.52 a share. Following that bottom, shares of NNVC have now started to uptrend and move within range of triggering a big breakout trade. That trade will hit if NNVC manages to take out the upper-end of its recent sideways trading chart pattern, which has seen NNVC trend between $4.55 and $5.74 a share.

Traders should now look for long-biased trades in NNVC if it manages to break out above some near-term overhead resistance levels at Friday's high of $4.94 a share to its 50-day moving average of $5.28 a share, and then once it takes out some more key overhead resistance levels at $5.72 to $5.74 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 234,994 shares. If that breakout triggers soon, then NNVC will set up to re-test or possibly take out its next major overhead resistance levels at $6.50 to its 52-week high at $7.59 a share.

Traders can look to buy NNVC off weakness to anticipate that breakout and simply use a stop that sits right below some key near-term support levels at $4.55 to $4.52 a share. One can also buy NNVC 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.

Arrowhead Research

Another under-$10 nanotechnology player that's quickly moving within range of triggering a big breakout trade is Arrowhead Research (ARWR), which forms, acquires and operates subsidiaries commercializing innovative nanotechnologies. This stock has been on fire so far in 2013, with shares up a whopping 284%.

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If you take a look at the chart for Arrowhead Research, you'll notice that this stock has been uptrending strong for the last five months, with shares soaring higher from its low of $1.81 to its recent high of $8.88 a share. During that uptrend, shares of ARWR have been consistently making higher lows and higher highs, which is bullish technical price action. Shares of ARWR took out some near-term overhead resistance levels on Friday at $7.84 to $7.99 a share. That move is now quickly pushing shares of ARWR within range of triggering another big breakout trade.

Market players should now look for long-biased trades in ARWR if it manages to break out above Friday's high of $8.37 a share to its 52-week high at $8.88 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 500,600 shares. If that breakout hits soon, then ARWR will set up to enter new 52-week high territory, which is bullish technical price action. Some possible upside targets off that breakout are $11 to $12 a share.

Traders can look to buy ARWR off weakness to anticipate that breakout and simply use a stop that sits right around its 50-day moving average of $7.10 a share. One can also buy ARWR 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.

Central European Media Enterprises


One final under-$10 media and entertainment player that looks ready to trigger a major breakout trade is Central European Media Enterprises (CETV), which operates broadcast, content and new media businesses in central and Eastern Europe. This stock has been under pressure by the bears so far in 2013, with shares off sharply by 59%.

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If you take a look at the chart for Central European Media Enterprises, you'll notice that this stock recently gapped down sharply from $6.50 to $2.63 a share with heavy downside volume. Following that move, shares of CETV went on to tag a new low of $2.03 a share. Since tagging that low, shares of CETV have now started to reverse its trend to an uptrend, with shares moving higher from its low of $2.03 to its recent high of $2.57 a share. That reversal is quickly pushing shares of CETV within range of triggering a major breakout trade.

Traders should now look for long-biased trades in CETV if it manages to break out above some near-term overhead resistance at $2.57 a share with high volume. Look for a sustained move or close above that level with volume that hits near or above its three-month average action of 1.16 million shares. If that breakout triggers soon, then CETV will set up to re-test or possibly take out its next major overhead resistance levels at $3 to $3.18 a share. Any high-volume move above $3.18 will then give CETV a chance to tag its 200-day moving average at $4.05 a share.

Traders can look to buy CETV off weakness to anticipate that breakout and simply use a stop that sits right below some near-term support levels at $2.28 to $2.17 share, or around $2.12 a share. One can also buy CETV off strength once it clears $2.57 a share with volume and then simply use a stop that sits a comfortable percentage from your entry point.

To see more hot under-$10 equities, check out the Stocks Under $10 Setting Up to Explode portfolio on Stockpickr.

-- Written by Roberto Pedone in Delafield, Wis.

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At the time of publication, author had no positions in stocks mentioned.

Roberto Pedone, based out of Delafield, Wis., is an independent trader who focuses on technical analysis for small- and large-cap stocks, options, futures, commodities and currencies. Roberto studied international business at the Milwaukee School of Engineering, and he spent a year overseas studying business in Lubeck, Germany. His work has appeared on financial outlets including CNBC.com and Forbes.com. You can follow Pedone on Twitter at www.twitter.com/zerosum24 or @zerosum24.