Another under-$10 stock that's starting to push into range of triggering a major breakout trade is TearLab ( TEAR), which commercializes a proprietary tear-testing platform that enables eye care practitioners to test for highly sensitive and specific biomarkers using nanoliters of tear film. This stock has been crazy hot so far in 2013, with shares up 143%. >>4 Health Care Stocks Spiking on Big Volume If you take a look at the chart for TearLab, you'll see that this stock has been in a beautiful uptrend for the last five months, with shares soaring higher from its low of $3.71 to its recent high of $10.25 a share. During that uptrend, shares of TEAR have been consistently making higher lows and higher highs, which is bullish technical price action. That move has now pushed shares of TEAR within range of triggering a major breakout trade. Market players should now look for long-biased trades in TEAR if it manages to break out above its 52-week high at $10.25 a share with high volume. Look for a sustained move or close above that level with volume that registers near or above its three-month average action of 367,590 shares. If that breakout triggers soon, then TEAR will set up to enter new 52-week-high territory, which is bullish technical price action. Some possible upside targets off that breakout are $12 to $15 a share. Traders can look to buy TEAR off weakness to anticipate that breakout and simply use a stop that sits right below some key near-term support levels at $9.41 or at $8.50 a share. One can also buy TEAR off strength once it clears $10.25 a share with volume and then simply use a stop right below $9.41 a share. This stock is a favorite target of the bears, since the current short interest as a percentage of the float for TEAR is extremely high at 23.8%. If that breakout triggers soon, then we could easily see a large short-squeeze develop for TEAR, so make sure to put this name on your breakout trading radar.