Another under-$10 name that' trading within range of a major breakout trade is Gevo ( GEVO), a renewable chemicals and advanced biofuels company. Gevo is focused on the development and commercialization of alternatives to petroleum-based products. This stock is off to a slow start in 2012, with shares up just 4.8%. If you take a look at the chart for Gevo, you'll notice that this stock has been destroyed by the sellers, with shares dropping from its May high of $10.25 to a recent low of $4.84 a share. That monster move lower happened rapidly since Gevo lost over 40% in value in just a few weeks, after the stock sliced through its 50-day and 200-day moving averages. That said, the stock has started to find some near-term buying interest off its recent lows of $4.84 to $5.30 a share. Shares of Gevo briefly broke out on Thursday above some near-term overhead resistance at $6.09 with heavy volume. The stock hit an intraday high of $6.39 and volume was 297,800 shares, which was well above its three-month average action of 167,689 shares. >>7 Stocks Soaring on Big Volume Market players should now look for long-biased trades in GEVO if it can manage to trigger break out above some near-term overhead resistance at $6.37 a share with high-volume. Look for volume off a sustained move or close above $6.37 that registers near or above its three-month average action of 167,689 shares. If we get that high-volume move above $6.37 a share, then GEVO could easily spike higher towards its 200-day moving average of $7.96 or even its 50-day moving average of $8.24 a share. If you buy this stock off of weakness to anticipate the breakout, then I would use a mental stop around $5.30 a share. If you buy off strength on a high-volume move over $6.37, then I would use a stop at around $6.09 a share, which was the previous breakout level. Keep in mind that GEVO will only have a chance of hitting those targets if it's trending above $6.37 with strong upside volume flows.