One final under-$10 name that looks ready to trigger a major breakout trade is Delcath Systems ( DCTH), a pharmaceutical and medical device company that focuses on the treatment of primary and metastatic liver cancers. This stock has been crushed by the bears so far in 2013, with shares off by 63%. If you take a look at the chart for Delcath Systems, you'll notice that this stock gapped down sharply in late April and early May from over $1.40 to its recent low of 38 cents per share with heavy downside volume. Following that move, shares of DCTH have been trending sideways inside of a consolidation chart pattern, with shares moving between 38 cents on the downside and 50 cents on the upside. Shares of DCTH are now starting to move within range of triggering a major breakout trade above the upper-end of its recent sideways chart pattern. >>5 Buy Signals From the Health Care Sector It's worth noting that shares of DCTH are also just starting to trade higher off oversold levels, since its relative strength index was recently trending well below 30. Oversold can always get more oversold, but it can also be an area where a stock rebounds sharply higher from as buyers come in to play the bounce. Traders should now look for long-biased trades in DCTH if it manages to break out above some near-term overhead resistance at 47 cents to 50 cents per 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 1.14 million shares. If that breakout hits soon, then DTCH will set up for a potentially powerful move higher into its previous gap down zone. Some possible upside targets if we get into that gap with volume are 80 cents or even north of $1 a share. Traders can look to buy DCTH off weakness to anticipate that breakout and simply use a stop that sits right around 40 to 38 cents per share. One can also buy DTCH off strength once it clears those breakout levels with volume and then simply use a stop that sits a comfortable percentage from your entry point. Since this is a penny stock that trades under $1 a share, it might be best to go long only off strength that's accompanied by strong 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.