Another under-$10 name that's trending very close to triggering a near-term breakout trade is Dara Biosciences ( DARA), a specialty pharmaceutical company focused on the development and commercialization of oncology treatment and supportive care pharmaceutical products. This stock has been in play to the upside during the last six months, with shares up by 23%. If you take a look at the chart for Dara Biosciences, you'll notice that this stock recently formed a triple bottom chart pattern at 76 cents per share. Following that bottom, shares of DARA have started to move back above both its 50-day moving average at 81 cents per share and its 200-day moving average at 84 cents per share. That action is now quickly pushing DARA within range of triggering a near-term breakout trade. Traders should now look for long-biased trades in DARA if it manages to break out above some near-term overhead resistance levels at 92 to 99 cents per 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 209,822 shares. If that breakout triggers soon, then DARA will set up to re-test or possibly take out its next major overhead resistance levels at $1.20 to $1.22 a share. Any high-volume move above those levels will then put $1.38 to $1.40 into range for shares of DARA. Traders can look to buy DARA off any weakness to anticipate that breakout and then simply use a stop that sits right below its 50-day moving average of 81 cents per share. One could also buy DARA off strength once it clears those breakout levels with volume and then simply use a stop that sits just below 87 cents per share.