One more under-$10 name that looks ready to trigger a near-term breakout trade is Daqo New Energy ( DQ), which is polysilicon manufacturer based in China. This stock is off to a decent start in 2013, with shares up by 18%. If you take a look at the chart for Daqo New Energy, you'll notice that this stock has been uptrending strong for the last month, with shares moving higher from its low of $6.37 to its recent high of $10.24 a share. During that uptrend, shares of DQ have been mostly making higher lows and higher highs, which is bullish technical price action. That move has now pushed shares of DQ within range of triggering a near-term breakout trade. >>5 Stocks the Pros Love This Summer Traders should now look for long-biased trades in DQ if it manages to break out above some near-term overhead resistance levels at $10.24 to $10.66 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 67,922 shares. If that breakout triggers soon, then DQ will set up to re-test or possibly take out its next major overhead resistance levels at $12 to $13 a share. Any high-volume move above those levels will then put $14 to $15 within range for shares of DQ. Traders can look to buy DQ off weakness to anticipate that breakout and simply use a stop that sits right below $8.50 a share, or below $8 a share. One can also buy DQ 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. 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.