The 8320 is a great overclocker, considering it is a factory underclocked 8350 you can get to 4.2ghz no problem. I've seen people get it up to 4.8 or even 5 with a hyper 212 evo. Your motherboard could be an issue though, it is fairly low quality, and I'm not sure it supports 125 tdp.
Edit: Doing more research, that board doesn't even support the 8320. You need a new one, sorry.