One more under-$10 name that's trending very close to triggering a near-term breakout trade is Medgenics ( MDGN), which is a medical technology and therapeutics company focused on providing sustained protein therapies. This stock has been destroyed by the sellers so far in 2013, with shares off by 32.8%. If you take a look at the chart for Medgenics, you'll notice that this stock has been downtrending badly for the last three months, with shares falling from its high of $10.05 a share to its recent low of $4.86 a share. During that downtrend, shares of MDGN have been consistently making lower highs and lower lows, which is bearish technical price action. That said, shares of MDGN have started to find support near $5 a share and its quickly moving within range of triggering a near-term breakout trade. Traders should now look for long-biased trades in MDGN if it manages to break out above some near-term overhead resistance at $5.20 a share with high volume. Look for a sustained move or close above $5.20 a share with volume that hits near or above its three-month average action of 81,157 shares. If that breakout triggers soon, then MDGN will set up to re-fill its previous gap down zone from earlier this month that started near $6 a share. It's even possible that MDGN could bounce back towards its 50-day moving average of $6.91 a share if that breakout hits. Traders can look to buy MDGN off any weakness to anticipate that breakout and simply use a stop that sits right below some key near-term support at $4.86 a share. One could also buy MDGN off strength once it clears $5.20 with volume and then simply use the same stop at $4.86 a share. I would add to either position if MDGN punches through $6 with solid volume. To see more hot under-$10 equities, check out the Stocks Under $10 Setting Up to Explode portfolio on Stockpickr. -- Written by Roberto Pedone in Winderemere, Fla.