Another under-$10 stock that's just starting to trigger a near-term breakout trade is Aastrom Biosciences ( ASTM), which is a regenerative medicine company engaged in clinical development of autologous cell products for the repair or regeneration of multiple human tissues, based on proprietary Tissue Repair Cell Technology. This stock has been hammered lower during the last six months, with shares off by 37%. If you take a look at the chart for Aastrom Biosciences, you'll notice that this stock had been downtrending badly from July to late November, with shares falling from over $2 a share to its recent low of $1.11 a share. During that downtrend, shares of ASTM were consistently making lower highs and lower lows, which is bearish technical price action. That said, shares of ASTM have just started to rebound off that low of $1.11 low and enter near-term breakout territory. During the last month, shares of ASTM have reversed its downtrend now that the stock is making higher lows and higher highs as it flirts with a near-term breakout trade. Market players should now look for long-biased trades in ASTM once it breaks out above some near-term overhead resistance levels at $1.35 to $1.36 a share with high volume. Look for a sustained move or close above those levels with volume that hits near or above its three-month average action 168,221 shares. At last check, ASTM has hit an intraday high today of $1.42 and volume is already tracking in above its three-month average action. If ASTM can maintain this breakout, then the stock will set up to re-test or possibly take out its next major overhead resistance levels at $1.57 to $1.85 a share. Any move above its 200-day at $1.87 will then put $2 to $2.10 into focus for shares of ASTM. Traders can look to buy ASTM off any weakness as long as it's trending above some near-term support levels at $1.26 to $1.22 a share. One can also buy off strength as long as ASTM is trending above those breakout levels with strong upside volume flows.