One more under-$10 stock that's moving within range of a near-term breakout trade is Lucas Energy ( LEI), an independent oil and gas company, based in Houston, with approximately 12,500 gross acres of oil and gas leases in South Texas. This stock is off to a slow start so far this year, with shares down by over 15%. If you take a look at the chart for Lucas Energy, you'll notice that this stock has been uptrending strong for the last two months, with shares soaring from $1.25 to its recent high of $1.98 a share. During that uptrend, shares of LEI have been consistently making higher lows and higher highs, which is bullish technical price action. That move has now pushed LEI within range of triggering a major near-term breakout trade. Traders should now look for long-biased trades in LEI once it manages to break out above some near-term overhead resistance levels at $1.97 to $1.98 a share, and then its 200-day moving average at $2.04 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 146,533 shares. If that breakout hits soon, then LEI will setup to re-test or possibly take out its next major overhead resistance levels at $2.40 to $3 a share. One could look to buy LEI off any weakness and simply anticipate that breakout, with a stop that sits just below its 50-day moving average of $1.70 a share. One could also get long LEI once it takes out $1.97 to $2.04 a share with volume, and then simply use a stop at around $1.80 a share. 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.