Another under-$10 stock in the financial services complex that looks ready to trigger a breakout is NetSpeed ( NTSP), a provider of general-purpose reloadable prepaid debit cards cards and related alternative financial services to underbanked consumers in the U.S. This stock hasn't done much so far in 2012, with shares down by around 5%.

If you take a look at the chart for NetSpeed, you'll notice that this stock has been trading within a tight range for the past two months, with shares bouncing between $6.40 on the downside and $8.27 on the upside. This range-bound trading action has now set this stock up for a potential move outside of the range, and that move looks to be gearing up for a topside breakout. The reason for this is because NTSP has recently ripped back above both its 200-day moving average at $7.12 and its 50-day moving average at $7.30 a share with strong volume.

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Traders should now look for long-biased trades in NTSP if it can manage to trigger a breakout trade above some near-term overhead resistance at $7.90 to $8.27 a share with high volume. Look for volume on a sustained move or close above those levels that register near or above its three-month average action of 324,877 shares. If we get that action soon, then NTSP could easily re-test and possibly take out its February high of $9.70 a share rather quickly.

If you're in the bull camp on NTSP, then one could anticipate the breakout and look to buy this stock off weakness and simply use a stop around the 50-day moving average of $7.30 a share. One could also buy off strength and get long once it clears $7.90 and then add more once the volume comes in on a move over $8.27 a share.

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