Another under-$10 stock that looks ready to trigger a near-term breakout trade is Sangamo Biosciences ( SGMO), a clinical stage biopharmaceutical company engaged in the research, development and commercialization of engineered DNA-binding proteins for the development of novel therapeutic strategies for unmet medical needs. This stock has been super hot in 2013, with shares trending up 65%. If you take a look at the chart for Sangamo Biosciences, you'll notice that this stock has been uptrending for the last month, with shares moving higher from its low of $7.92 a share to its intraday high of $10.04 a share. During that move, shares of SGMO have been making mostly higher lows and higher highs, which is bullish technical price action. That spike has now pushed shares of SGMO within range of triggering a near-term breakout trade above its 52-week high of $10.05 a share. Market players should now look for long-biased trades in SGMO if it manages to break out above its 52-week high of $10.05 a share with high volume. Look for a sustained move or close above $10.05 a share with volume that registers near or above its three-month average volume of 523,340 shares. If that breakout hits soon, then SGMO will set up to enter new 52-week high territory, which is bullish technical price action. Some possible upside targets off that move are $12 to $15 a share. Traders can look to buy SGMO off any weakness to anticipate that breakout and simply use a stop that sits close to some key near-term support at $8.58 a share. One can also buy off strength once SGMO takes out $10.05 a share with volume and then simply use a stop around $9.50 to $9.30 a share. This is another short-squeeze candidate, since the current short interest as a percentage of the float of SGMO is rather high at 14%. If that breakout triggers soon with volume, then the shorts could quickly see themselves in a dangerous position, so be ready.