Another under-$10 name that's trending very close to triggering a near-term breakout trade is BroadVision ( BVSN), which develops, markets, and supports enterprise portal applications that enable companies to unify their e-business infrastructure and conduct both interactions and transactions with employees, partners and customers. This stock has been rising during the past three months, with shares moving higher by 13.3%.

If you take a look at the chart for BroadVision, you'll see that this stock has been trending sideways for the last month and change, with shares moving between $8.25 on the downside and $9.52 on the upside. This trend has been occurring just above the stock's 50-day moving average of $8.55 a share. Shares of BVSN are now just starting to break out above $9.52 a share with above-average volume.

Market players should now look for long-biased trades in BVSN if it manages to break out above some near-term overhead resistance levels at $9.52 to $10.46 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 of 61,531 shares. If that breakout triggers soon, then BVSN will set up to re-test or possibly take out its next major overhead resistance levels at $11.50 to $11.96 a share. Any high-volume move above those levels could then send BVSN towards its next major overhead resistance level at $13.19 a share.

Traders can look to buy BVSN off any weakness and then simply use a stop that sits just below its 50-day moving average of $8.55 a share. One could also buy BVSN off strength once it takes out those breakout levels with volume and then simply use a stop that sits just below $9 a share.

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