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Breakout Stocks: Warner Chilcott, Alliance

Another stock that could be setting up to breakout is VanceInfo (VIT), an information technology service provider and an offshore development company in China. This company offers IT services including R&D services, enterprise solutions, application development and maintenance, testing, as well as globalization and localization.

Shares of VanceInfo are trading up more than 1% today as the stock nears some previous overhead resistance at around $28 a share. If the stock can manage to trade above that level it would mark a brand new all-time high. This is a great sign if you're long the stock because it means shares will have no previous resistance that could stall any further upside move.

If a breakout does happen on VanceInfo, and it isn't a false move, then this stock could be just beginning a much longer term uptrend. It's worth noting that the stock sold off a few points on Aug. 17 after company issued a tepid forecast for its third-quarter earnings. That selloff came on heavy volume of 2 million shares vs. the average three-month daily volume of over 540,000 shares. It's possible that many of the sellers that wanted out of the stock in the near term got out on that move.

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