One more under-$10 name that's already started to enter breakout territory is ImmunoCellular ( IMUC), which seeks to develop and commercialize new therapeutics to fight cancer using the immune system. This stock is off to a slow start in 2012, with shares up by around 6.6%. If you take a look at the chart for ImmunoCellular, you'll notice this stock has been uptrending very strong for the past six months, with shares skyrocketing from a low of 98 cents to a recent high of $4.00 a share. During that monster move higher, shares of ImmunoCellular have mostly made higher lows and higher highs, which is bullish technical price action. This stock recently moved back below its 50-day moving average of $2.84 and then hit $2.05 before rising again breaking out above $3.02 a share. Now shares of IMUC have started to trigger another breakout above $3.40 a share on monster volume. Volume on Thursday registered 1,914,500 shares, which was well above its three-month average volume of 476,958 shares. The stock hit an intraday high of $4.00 a share, which was also a new 52-week high. That move came after news broke that ImmunoCellular's cancer vaccine candidate showed positive Phase 1 results. Traders should now look for long-biased trades in IMUC if it can manage to sustain its uptrend above $3.25 to $4.00 a share with strong upside volume flows. Look for a sustained move or close above those levels on volume that's near or above its three-month average action of 476,958 shares. If we get that action, then look for IMUC to continue its uptrend towards $5 to $6 a share in the near future. Keep in mind that IMUC would still be in a bullish uptrend even if it pulled back towards $3.02 a share, or even near its 50-day moving average of $2.84 a share. That said, I would rather see this stock continue to trend above $3.25 to $4 a share to confirm that it wants to move higher. That would keep the stock within its breakout range and simply raise the probability of higher prices in the near future. To see more hot under-$10 equities, check out the Stocks Under-$10 Setting Up To Explode portfolio on Stockpickr. -- Written by Roberto Pedone in Winderemere, Fla.