An under-$10 name in the medical equipment and supplies complex that's starting to look interesting is CAS Medical Systems ( CASM), a medical technology company that develops, manufactures and markets non-invasive patient monitoring products. This stock is off to a decent start in 2012, with shares up over 13%. If you take a look at the chart for CAS Medical Systems, you'll notice that this stock bottomed in late 2011 at around $1.50 a share, and then ran up to its 2012 high of $2.98 a share. Since hitting that high, the stock has pulled back to its current price of around $2 a share. Now the stock has started to flirt with its 50-day of $2.10 and its 200-day of $2.18 moving averages today, and it's moved within range of some near-term overhead resistance levels. This move today could be signaling that CASM is preparing for a large spike higher. >>Health Care Stocks Bought and Sold by Hedge Funds Traders should look for long-biased trades in CASM if the stock can manage to break out above some near-term overhead resistance levels at $2.24 to $2.35 a share with high-volume. Look for volume on a move over that level that's near or above its three-month average volume of 10,587 shares. A sustained high-volume move and close above those levels should set this stock up for a run back towards its recent high of $2.98 a share or possibly higher. At last check today, CASM has hit a high of $2.34 but it has pulled back to around $2 a share. This means that the breakout so far has failed, but it's still worth watching CASM in case it makes another run at breaking out. If we get another run soon, and CASM can sustain a high-volume move and close over $2.24 to $2.35 a share, then look for the bulls to take over and push this towards significantly higher.