One stock that's trending very close to triggering a major breakout trade is Sinovac Biotech (SVA - Get Report), which is a fully integrated, profitable China-based biopharmaceutical company that focuses on the research, development, manufacturing and commercialization of vaccines that protect against human infectious diseases. This stock is off to a hot start in 2013, with shares up 24%.
If you take a look at the chart for Sinovac Biotech, you'll notice that this stock has been trending sideways for the last few weeks, with shares moving between $3.56 on the downside and $3.95 on the upside. Shares of SVA have just started to bounce right above the 50-day moving average of $3.43 and are now quickly moving within range of taking out the upper-end of their recent sideways chart pattern.
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