One more under-$10 name that looks ready to trigger a near-term breakout trade is Ballard Power Systems ( BLDP), which is engaged in the design, development, manufacture, sale and service of fuel cell products for a variety of applications, focusing on motive power and stationary power. This stock is off to a monster start in 2013, with shares up a whopping 96%. If you take a look at the chart for Ballard Power Systems, you'll notice that that this stock has been uptrending strong for the last month and change, with shares soaring higher from its low of 76 cents per share to its recent high of $1.28 a share. During that uptrend, shares of BLDP have been consistently making higher lows and higher highs, which is bullish technical price action. That move has now pushed shares of BLDP within range of triggering a near-term breakout trade. Traders should now look for long-biased trades in BLDP if it manages to break out above some near-term overhead resistance levels at $1.28 to $1.44 a share and then once it clears its 52-week high at $1.54 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 770,411 shares. If that breakout hits soon, then BLDP will set up to enter new 52-week-high territory above $1.54, which is bullish technical price action. Some possible upside targets off that breakout are $1.75 to $2.20 a share, or even $2.50 a share. Traders can look to buy BLDP off weakness to anticipate that breakout and simply use a stop that sits just below its 50-day at $1.03 a share. One can also buy off strength once BLDP clears those breakout levels with volume and then simply use a stop that sits a comfortable percentage point from your entry. I would add to either position once BLDP clears $1.54 and then $1.75 a share with heavy upside 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 Madison, Wis.