Another stock that's moving within range of triggering a big breakout trade is Tesla Motors (TSLA), which designs, develops, manufactures and sells electric vehicles and electric vehicle powertrain components, including the Tesla Roadster, an electric sports car. This stock is off to a decent start in 2012 with shares up around 16%.
If you take a look at the chart for Tesla Motors, you'll see that this stock formed a double-bottom chart pattern a few months ago at $26.83 to $27.11 a share. After marking that bottom, shares of TSLA have started to uptrend strong hitting a recent high of $34.50 a share. During that uptrend, shares of TSLA have been making mostly higher lows and higher highs, which is bullish technical price action. This stock has also started to move into breakout territory, since it's cleared some near-term overhead resistance at $32.80 a share. That move is now pushing TSLA within range of an even bigger breakout trade.
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