An under-$10 name in the health care facilities complex that's moving within range of triggering a near-term breakout trade is Assisted Living Concepts ( ALC), which, together with its subsidiaries, operates senior living residences in the U.S. This stock has been smashed by the bears so far in 2012, with shares down by over 45%. If you take a look at the chart for Assisted Living Concepts, you'll notice that this stock recently plunged huge from$ $14.48 to its 52-week low of $6.93 a share with massive selling volume. Prior to that plunge, shares of ALC were trending sideways but making lower highs and failing to trade back above key moving averages, which was bearish technical price action. That said, ALC has now started to rebound off its lows and its trending very close to triggering a near-term breakout trade. Traders should now look for long-biased trades in ALC once it manages to break out above some near-term overhead resistance levels at $8 to $8.25 a share with high volume. Look for a sustained move or close above those levels with volume that registers near or above its three-month average action of 263,695 shares. If that breakout triggers soon, then ALC will have a great chance of skyrocketing back towards its 50-day moving average of $11.80 a share or possibly even higher. The reason I like the upside potential here is that ALC is starting to bounce off extremely oversold levels as it moves into range of triggering a breakout trade. Its current relative strength index reading is 34.29, and it was just trending near 10 when it hit its 52-week low. Traders can look to buy ALC off weakness with a stop near $7.51 or at around $7 a share. One could also just buy ALC off strength once it takes out $8 a share with high volume, and then simply use a stop just below $7.51 a share.