One more under-$10 technology player that's quickly moving within range of triggering a major breakout trade is FalconStor Software ( FALC), which provides data protection solutions that facilitate the continuous availability of business-critical data with speed, integrity and simplicity. This stock has been hammered by the bears so far in 2013, with shares off by 38%. If you take a look at the chart for FalconStor Software, you'll notice that this stock has been uptrending strong for the last three months, with shares soaring higher from its low of 88 cents to its recent high of $1.45 a share. During that uptrend, shares of FALC have been making mostly higher lows and higher highs, which is bullish technical price action. That move has now pushed shares of FALC within range of triggering a major breakout trade. Traders should now look for long-biased trades in FALC if it manages to break out above some near-term overhead resistance levels at $1.44 to $1.45 a share with high volume. Look for a sustained move or close above those levels with volume that hits near or above its three-month average action of 160,280 shares. If that breakout hits soon, then FALC will set up to re-test or possibly take out its next major overhead resistance levels at its 200-day moving average of $1.69 to $1.90 a share. Any high-volume move above those levels will then give FALC a chance to tag $2 to $2.20 a share, or even $2.50 a share. Traders can look to buy FALC off weakness to anticipate that breakout and simply use a stop that sits right below its 50-day moving average of $1.25 a share. One can also buy FALC off strength once it takes out 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 Delafield, Wis.