One name that's currently trending within range of triggering a major breakout trade is Netflix ( NFLX), a provider of Internet subscription service streaming TV shows and movies. This stock has been on fire so far in 2013, with shares up a whopping 163%.
If you take a look at the chart for Netflix, you'll notice that this stock recently formed a double bottom at around $205.75 to $207.56 a share. Following that bottom, shares of NFLX have soared higher trending back above its 50-day moving average and breaking out above some near-term overhead resistance at $235.88 a share. That move has now pushed shares of NFLX within range of triggering an even bigger breakout trade.
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