One stock that's trending very close to triggering a major breakout trade is Pandora ( P), which provides Internet radio services in the U.S. This stock has been on fire so far in 2013, with shares up a whopping 54%.
If you take a look at the chart for Pandora, you'll notice that this stock recently formed a double bottom chart pattern at $12.66 to $12.76 a share. Following that bottom, shares of Pandora have bounced strongly right off its 50-day moving average and now the stock is quickly moving within range of taking out some near-term overhead resistance levels. Those resistance levels have acted as a wall for the stock for the last two months, so if they get taken out with volume, shares of Pandora could soar higher.
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