Another under-$10 stock that's very close to triggering a big breakout is MEMC Electronic Materials ( WFR), which is engaged in the development, manufacture and sale of silicon wafers. This stock is off to a smoking hot start in 2012 with shares up over 20% so far. If you take a look at the chart for MEMC Electronic Materials, you'll notice that this stock has decimated by the bears from last September when it traded over $7 to its recent low of $3.65 a share hit in December. Since printing that low, the stock found some big buying support at around $3.65 to $3.77 a share, and it has crossed back above its 50-day moving average of $4.21. That move has now put WFR in focus for a breakout trade if the stock can manage to clear some near-term overhead resistance levels. If you're bullish on WFR, you could be a buyer of this stock once it takes out $4.94 to $5 a share with big volume. Look for volume that's tracking in close to or above its three-month average action of 8.29 million shares. At last check, the stock tapped $5 a share today, but so far volume is well under 8.29 million shares. Traders should now watch WFR for a sustained high-volume move and close over $5. If that move hits soon, then I would target a run back towards $6.50 to $6.91 (its 200-day) a share, or possibly much higher. Shares of WFR sport a decent short interest, since 6.4% of the tradable float is sold short. The short-sellers have been increasing their bets from the last reporting period by 9.4%, or by about 1.24 million shares. Those new shorts could get forced to cover quickly if WFR takes out $5, so keep this name on your trading radar. WFR shows up on a list of the 10 Worst-Performing S&P 500 Stocks of 2011, as well as a list of 10 Top Stocks Under $5 for 2012 Picked by Analysts.