Traders can look to buy AMSC off any weakness and then simply use a stop that sits right around $2.44 to $2.40 a share. One could also buy AMSC off strength once it clears those breakout levels with volume and then simply use a stop near $2.60 a share. Safe Bulkers One final under-$10 name that's trending very close to triggering a major breakout trade is Safe Bulkers ( SB), which is an international provider of marine drybulk transportation services, transporting bulk cargoes, particularly coal, grain and iron ore, along worldwide shipping routes for some of the consumers of marine drybulk transportation services. This stock has been hit hard by the sellers so far in 2012, with shares off by 40%. If you take a look at the chart for Safe Bulkers, you'll notice that this stock has been downtrending badly for the last month and change, with shares plunging from a high of $5.96 to a recent low of $3.23 a share. During that downtrend, shares of SB have been consistently making lower highs and lower lows, which is bearish technical price action. That move has also pushed the stock into extremely oversold territory, since its current relative strength index (RSI) reading is 25. That said, shares of SB have now started to stabilize at around $3.30 a share and it's moving within range of triggering a near-term breakout trade. Traders should now look for long-biased trades in SB once it breaks out above some near-term overhead resistance levels at $3.62 to $3.81 a share with high volume. Look for a sustained move or close above those levels with volume that hits close to or above its three-month average action of 331,677 shares. If that breakout triggers soon, then SB will set up to re-test or possibly take out its next major overhead resistance levels at $4.25 to $5 a share. It's even possible for SB to hit its 50-day at $5.19 or $5.50 to $5.75 a share. Traders can look to buy SB off any weakness and simply use a stop that sits right around some key near-term support at $3.34 to $3.23 a share. One could also buy SB off strength once it clears those breakout levels with volume and then simply use a stop right around $3.50 to $3.34 a share.