Another stock that's coming up on a major breakout is Claude Resources ( CGR). This company acquires, explores, and develops precious metal properties, as well as produces and markets minerals in Canada. Claude Resources principally focuses on gold. This stock is off to a solid start in 2011, with shares up around 11%. But those gains are going to look like nothing if this stock does what it technically looks poised about to do. If you take a look at the chart for Claude Resources, you'll see that this stock is setting up to potentially trade above $2.60 to $2.90 a share. Both resistance levels are very significant. The $2.60 level has been an area that the stock has struggled to get over for the past two weeks. The $2.90 area is even more key because it marks the all-time high on the stock. What I love about the technical action in CGR is that the stock has been in a strong uptrend for quite some time. During this uptrend, CGR has been making higher highs and higher lows, and it's formed a bullish uptrend channel. Another reason to love CGR is because the company is in the right sector at the right time. Gold, as represented by the SPDR Gold Trust ( GLD), is only a few points away from breaking out and printing new all-time highs. Jim Cramer says that half of a stock's move comes from its sector. I agree, and I completely expect CGR to follow any future strength in gold prices. If CGR breaks out to all-time highs, then I see this name doubling or more from current levels. What's great about this play is that you can place a stop if you buy now right around the 50-day moving average of $2.37 or even near the uptrend line at around $2.15. If CGR trades below either level, then you can dump the stock and move on. However, if it starts breaking out above those resistance levels mentioned earlier, then I would add aggressively and look for an explosive move higher.