An under-$10 name in the semiconductor space that's starting to break out today is China Sunergy ( CSUN), which manufactures its solar cells from silicon wafers utilizing crystalline silicon solar cell technology to convert sunlight directly into electricity through a process known as the photovoltaic effect. This stock has been blazing a trail to the upside in 2012, with shares up over 85%. If you take a look at the chart for China Sunergy, you'll see that this is another stock that was stuck in a nasty downtrend for the past six months. Shares of CSUN dove from its September high of $4.56 to a recent low of $1.04 a share. After hitting that low, the stock has rebounded sharply on monster upside volume towards its current price of around $2.70 a share. Market players should now look for more upside in CSUN with the stock triggering a breakout trade above some near-term overhead resistance at $2.50 a share. At last check, CSUN has taken that level out easily intraday and the volume has already hit 215,000 shares. The three-month average volume for CSUN is 68,652 shares. Traders should now watch for a sustained high-volume move and close over $2.50 to signal that CSUN wants to rip much higher. One could be a buyer of CSUN off any weakness as long as it continues to trend above the breakout level of $2.50 a share. If that $2.50 level holds, and you happen to get long, then I would target a run back towards its next significant overhead resistance levels at $3 to $3.60 a share, or possibly its 200-day moving average at $4.20 a share. China Sunergy shows up on a recent list of 10 Stocks Under $5 Outperforming in 2012.