One under-$10 stock in the biotechnology and drugs complex that's trading within range of triggering a major breakout trade is Pluristem Therapeutics ( PSTI), which engages in the commercialization of non-personalized (allogeneic) cell therapy products for the treatment of several severe degenerative, ischemic and autoimmune disorders. This stock is off to a hot in 2012, with shares up over 30% so far. Just this morning, Pluristem received an invitation from the U.S. National Institutes of Health to submit its placenta-based stem cells to the agency for evaluation in treating acute radiation syndrome. Maxim Group also initiated coverage on the stock on Wednesday with a buy rating and an $8 price target. If you take a look at the chart for Pluristem Therapeutics, you'll notice that this stock recently broke out above some near-term overhead resistance at $2.60 to $2.65 a share with monster volume. As the stock broke out, volume clocked in at 1.9 and 4.4 million shares, which is well above its three-month average volume of 347,989 shares. Following that breakout, this stock soared and touched its recent high of $3.85 in just two trading sessions. Since tagging that high, this stock has pulled back to around $3 a share, and it's now setting up to potentially breakout again and rip higher. >>4 Biotech Stocks Under $10 With Relative Strength Traders should now look for long-biased trades in PSTI if it can manage to trigger a breakout trade above some near-term overhead resistance at $3.70 to $3.85 a share with high volume. Look for a sustained move or close above $3.85 a share with volume that registers near or above its three-month average action of 347,989 shares. If that breakout triggers soon, then PSTI will have an excellent chance of re-testing and possibly taking out its 2011 high of $4.38 a share. In fact, if we get a high-volume breakout, then I believe that PSTI is heading towards $5 to $6 a share after it clears $3.85 to $4.38 a share with volume. If you're in the bull camp on PSTI, then I would look to buy this stock off any weakness, and simply use a stop around $3.20 to $3 a share. I would prefer to get long this name off strength once it clears $3.70 to $3.85 with volume, and then simply use a stop a few percentage points below $3.50 a share. Those lower stops I suggested for buying off weakness should only be used if you get into this name on a significant pullback.