One more under-$10 stock that's getting very close to triggering a big breakout trade is Headwaters ( HW), which provides products, technologies and services in the building products, construction materials and energy industries. This stock has been ripping higher in 2012 with shares up over 30% year-to-date. If you take a look at the chart for Headwaters, you'll notice that this stock has been trading range bound for the past couple of months and change between around $2 on the downside and $2.91 on the upside. Usually when a stock starts to move outside of a range it will being to trend for awhile in whatever direction it breaks out into. Right now, HW has started to trigger a big breakout above the upper-end of the range with shares moving above $2.87 to $2.91 with volume. Market players should now watch for a sustained high-volume move and close above $2.91 to signal that HW wants to trend much higher. Look for volume that's near or well above its three-month average action of 601,016 shares. At last check, volume today is already above 658,000 shares and the stock is trading at around $3 a share. If you're bullish on HW, look to buy this stock off of weakness and simply use a mental stop right around $2.80, or $2.91 if you want to keep it tighter. If this breakout is the real deal and HW continues to trend above $2.91, then target a spike higher back towards $3.38 a share. If $3.38 is then taken out with volume, look for HW to trade into the mid-$4s in the near future. To see more hot under-$10 stocks, including Biodel ( BIOD), Ascent Solar Technologies ( ASTI) and ZST Digital Networks ( ZSTN), check out the Stocks Under-$10 Setting Up To Trade Higher portfolio on Stockpickr. -- Written by Roberto Pedone in Winderemere, Fla.