One stock that's trading within range of a breakout trade is Monster Beverage (MNST), which develops, markets, sells and distributes alternative beverage. This stock is off to a hot start in 2012, with shares up over 60%.
If you take a look at the chart for Monster Beverage, you'll see that this stock has been trading in a perfect uptrend for the last six months. At the start of 2012, shares of Monster Beverage broke out above $49.18 a share, and they haven't looked back since. This stock has soared since it broke out over $49.18 to a recent high of $83.96 a share. During that move, shares of Monster Beverage have consistently made higher lows and higher highs, which is bullish technical price action. Also during that uptrend this stock has never once violated its 50-day or 200-day moving averages. Now the stock is trading very close to triggering a near-term breakout trade.
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