One more under-$10 stock that's starting to trigger a breakout trade today is Lucas Energy ( LEI), an independent oil and gas company based in Houston, with approximately 12,500 gross acres of oil and gas leases in South Texas primarily in the Gonzales County and Wilson County, Texas. This stock has been trending lower so far in 2011, with shares off by around 11.5%. If you take a look at the chart for Lucas Energy, you'll see that shares of this oil player dropped big from its July high of $3.30 a share to a recent low of $1.04 a share. After printing that low, the stock has started to rebound sharply towards its current price of $2.10 a share. That big rebound now sets up LEI for a breakout trade if the stock can manage to clear a few overhead resistance levels. Traders should now watch LEI to break out above $2.15 and $2.25 on high volume. Look for volume that's tracking in close to or above its three-month average volume of 219,642 shares. Volume today has already registered over 610,000 shares with the stock trading up over 10%. This high-volume move today is a good sign that LEI could be under accumulation and setting up to trend higher. If you see a sustained move and close over $2.15 to $2.25, then look for the stock to take out its 200-day moving average of $2.53 with volume. If we see all of these overhead resistance levels taken out to the upside, then look for a big spike higher in this stock potentially back towards $3.30 to $4.00 a share. One could be a buyer of this stock off any noticeable weakness and simply use a mental stop at around $1.80 or $1.73 (its 50-day) a share. One could also just buy strength and get long above $2.15 to $2.25, and then add again above $2.53. If you buy off strength use a mental stop a few percentage points below $2.15. To see more hot under-$10 stocks, check out the Stocks Under-$10 Setting Up to Trade Higher portfolio on Stockpickr. -- Written by Roberto Pedone in Winderemere, Fla.