Synergy Pharmaceuticals One final under-$10 name that's trending near a big breakout is Synergy Pharmaceuticals ( SGYP). This is a development-stage biopharmaceutical company focused primarily on the development of drugs to treat gastrointestinal disorders and diseases. This stock is off to a strong start in 2012 with shares up over 25% so far. If you take a look at the chart for Synergy Pharmaceuticals, you'll notice that the sellers creamed this stock recently, after shares plunged from $7.08 to under $4.50 a share with heavy volume. That move resulted in gap down after it had broken out above $4.50 and made that huge run to $7.08 a share. Since that big gap lower, shares of Synergy Pharmaceuticals have been trending sideways for over a month between $4.13 and $4.95 a share. This sideways trend has resulted in very tight trading action, as this stock has coiled up right around both its 50-day at $4.48 and its 200-day at $4.40 a share. Traders should now look for long-biased trades in SGYP if it can manage to trigger a near-term breakout trade above $4.75 to $4.95 a share with high volume. Look for a sustained move or close above those levels on volume that's near or above its three-month average action of 238,000 shares. If we get that action soon, then SGYP could potentially fill that previous gap down and tag $6 to $7 a share. One could be a buyer of this stock off weakness and anticipate the breakout, and simply use a stop just below its 200-day moving average of $4.40 a share. Maybe use a stop at around $4.25 a share if you get long off weakness. You can also just wait for SGYP to take out $4.75 and then $4.95 with volume, and buy into that strength with a stop right around $4.60. On Wednesday, over 1 million shares traded for SGYP as the stock closed up modestly. That big-time volume indicates that large traders could be snapping up SGYP here, so keep this on your breakout radar. 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.