Another under-$10 stock that's starting to move within range of triggering a near-term breakout trade is Anacor Pharmaceuticals ( ANAC), which is engaged in the discovery, development and commercialization of novel small molecule therapeutics derived from its novel boron chemistry platform. This stock is off to a strong start in 2013, with shares up sharply by 31%. This company has a catalyst on the horizon, since the firm will present pivotal phase 3 data for Tavaborole, a novel boron-based molecule for the topical treatment of toenail onychommycosis, on July 22 at the APMA Annual Scientific Meeting held in Las Vegas. >>4 Biotech Stocks Under $10 Making Big Moves If you take a look at the chart for Anacor Pharmaceuticals, you'll notice that this stock has uptrending for the last two months, with shares moving higher from its low of $4.83 to its recent high of $6.93 a share. During that uptrend, shares of ANAC have been mostly making higher lows and higher highs, which is bullish technical price action. That move has now pushed shares of ANAC within range of triggering a near-term breakout trade. Market players should now look for long-biased trades in ANAC if it manages to break out above some near-term overhead resistance levels at $6.93 to $7.09 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 volume of 452,332 shares. If that breakout triggers soon, then ANAC will set up to re-test or possibly take out its 52-week high at $8.25 a share. Any high-volume move above that level will then give ANAC a chance to tag $9 to $10 a share. Traders can look to buy ANAC off any weakness to anticipate that breakout and simply use a stop that sits right below its 50-day moving average at $5.73 a share. One can also buy ANAC 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. This stock also has a decent amount of bears involved in the name, since the current short interest as a percentage of the float for ANAC is pretty high at 8.9%. The bears have also been increasing their bets from the last reporting period by 10.2%, or by about 226,000 shares. If that breakout triggers soon, then the shorts could get caught in a vicious short-squeeze, so make sure to have this name on your breakout trading radar.