Another under-$10 stock in the biotechnology and drugs complex that's setting up to trigger a major breakout trade is Nanosphere ( NSPH), which is engaged in developing, manufacturing and marketing of molecular diagnostics platform, the Verigene System, which enables sensitive genomic and protein testing on a single platform, including both genomic and protein assays, from a single sample. This stock has been soaring so far in 2012, with shares up a whopping 144%. >>5 Stocks Insiders Love Right Now If you take a look at the chart for Nanosphere, you'll see that this stock has been uptrending extremely strong for the last six months, with shares soaring from a low of $1.51 to its recent high of $3.89 a share. During that monster uptrend, shares of NSPH have consistently made higher lows and higher highs, which is bullish technical price action. This stock just recently spiked big right off its 50-day moving average of $3.28 a share. That spike is has now pushed NSPH within range of triggering a major breakout trade. Market players should now look for long-biased trades in NSPH as long as it's trending above its 50-day, and then once it manages to trigger a break out above some near-term overhead resistance levels at $3.64 to $3.89 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 volume of 1,185,590 shares. If NSPH can trigger that breakout soon, then look for this stock to tag its next significant overhead resistance levels at $4.50 to $5.50 a share. Traders can now look to buy NSPH off any weakness as long as it's trending above its 50-day at $3.28 a share, and simply anticipate that breakout. You could also buy off strength once NSPH clears those breakout levels with volume, and simply use a stop at around $3.50 a share.