My final idea for a near-term breakout trade is First Solar (FSLR), which designs, manufactures and sells solar electric power modules using a proprietary thin film semiconductor technology. This stock is off to strong start in 2013, with shares up sharply by 24%.
If you look at the chart for First Solar, you'll notice that this stock recently spiked dramatically higher in one trading session, with shares soaring from below $28 to its recent high of $41 a share. That move came on extremely strong upside volume. Shares of FSLR pulled back off that $41 high and have now found support at around $36 a share. This stock is now quickly moving within range of triggering a near-term breakout trade.
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