Another under-$10 name that's quickly moving within range of triggering a major breakout trade is Rubicon Technology ( RBCN), an electronic materials provider that develops, manufactures and sells monocrystalline sapphire and other innovative crystalline products for LEDs, RFICs, blue laser diodes, optoelectronics and other optical applications. This stock is off to a hot start in 2013, with shares up by 22%. If you take a look at the chart for Rubicon Technology, you'll notice that this stock has recently started to rebound off its 50-day moving average of $6.04 a share with heavy upside volume flows. That rebound has now started to push RBCN back above its 200-day moving average of $7.60 a share and above some a key near-term breakout level at $7.62 a share. At last check, RBCN has hit an intraday high of $7.70 a share and volume is well above is three-month average action of 381,737 shares. Market players should now look for long-biased trades in RBCN as long as it's trending above those key breakout levels of $7.60 to $7.62 a share with high volume. Look for a sustained move or close above those levels with volume that registers near or above its three-month average action of 381,737 shares. If RBCN can maintain that trend, then this stock will set up to re-test or possibly take out its next major overhead resistance levels at $8.50 to $9.50 a share. Any high-volume move above $9.50 will then put $10 to $10.80 into focus for shares of RBCN. Traders can look to buy RBCN off weakness to anticipate that breakout and simply use a stop that sits just below $7 a share. One can also buy RBCN off strength once it clears those breakout levels with volume and then simply use the same stop below $7 a share. This stock is a favorite target of the short-sellers, since the current short interest as a percentage of the float for RBCN is extremely high at 23.9%. This stock has monster short-squeeze potential if this breakout holds, so make sure to have this name on watch.