An under-$10 name in the shipping complex that looks poised for some big upside is Frontline ( FRO), which is engaged primarily in the ownership and operation of oil tankers and oil/bulk/ore carriers. This stock is off to a solid start in 2012, with shares up 57%. If you take a look at the chart for Frontline, you'll notice that this stock has been in a monster uptrend for the past six months, with shares soaring from a low of $2.52 to a recent high of $9.47 a share. During that move, shares of Frontline have been mostly making higher lows and higher highs, which is bullish technical price action. That said, more recently the stock has been downtrending from $9.47 to $5.83 a share. On Thursday, shares of Frontline soared 7.5% to $6.75 after the stock bounced hard right near its 50-day moving average of $6.26 a share. What I liked about that move Thursday is that FRO has started to move back above its downtrend line, which could be indicating that the short-term trend is going to change from bearish to bullish. Traders should now look for long-biased trades in FRO if it can manage to clear some near-term overhead resistance at $7.00 to $7.04 with high-volume. Look for a sustained move or close above those levels on volume that's near or well above its three-month average action of 2,799,250 shares. Volume on Thursday registered 2.03 million shares, which is pretty decent volume for that 7.5% spike higher. If that breakout does trigger soon, then look for FRO to make a run at $8 to possibly its recent high of $9.47 a share. I would simply avoid any long trades in FRO if it drops back below its 50-day moving average of $6.26 with heavy volume. Keep in mind that FRO is a favorite target of short-sellers. The current short interest as a percentage of the float for FRO is an extremely high 22.4%. If the trend for FRO is about to switch over to bullish, then we could easily see a monster short-squeeze in the coming days or weeks. To see more hot under-$10 equities, check out the Stocks Under-$10 Setting Up To Explode Higher portfolio on Stockpickr. -- Written by Roberto Pedone in Winderemere, Fla.