One stock that's starting to move within range of triggering a major breakout trade is Parker Drilling (PKD), which provides contract drilling and drilling-related services and operates in approximately 12 countries. This stock has risen modestly so far in 2013, with shares up 9.7%.
If you take a look at the chart for Parker Drilling, you'll notice that this stock has been uptrending strong for the last few weeks, with shares moving higher from its low of $4.15 to its recent high of $5.20 a share. During that uptrend, shares of PKD have been consistently making higher lows and higher highs, which is bullish technical price action. That move has now pushed shares of PKD within range of triggering a major breakout trade.
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