Another under-$10 name that's starting to move within range of triggering a near-term breakout trade is Biostar Pharmaceuticals ( BSPM), which develops, manufactures and markets pharmaceutical products for a variety of diseases and conditions in the People's Republic of China. This stock is off to a decent start in 2013, with shares up 12.9% so far. If you take a look at the chart for Biostar Pharmaceuticals, you'll notice that this stock is just starting to spike higher off its 50-day moving average of $1.06 a share with above-average volume. This move is quickly pushing shares of BSPM within range of triggering a near-term breakout trade. >>4 Biotech Stocks Under $10 Moving Higher Market players should now look for long-biased trades in BSPM if it manages to break out above some near-term overhead resistance levels at $1.18 a share to its 200-day moving average at $1.21 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 37,579 shares. If that breakout triggers soon, then BSPM will set up to re-test or possibly take out its next major overhead resistance levels at $1.36 to $1.39 a share. Any high-volume move above $1.39 will then put $1.55 to $2 into range for shares of BSPM. Traders can look to buy BSPM off any weakness to anticipate that breakout and simply use a stop that sits right below its 50-day moving average of $1.06 a share. One could also buy BSPM off strength once it takes out those breakout levels with volume and then simply use a stop that sits just below $1.10 a share.