Gramercy Capital One stock that could be setting up for a big breakout is Gramercy Capital ( GKK). This is an integrated commercial real estate finance and property investment company. This stock is off to a very solid start in 2011 with shares up over 35%. The stock is also acting strong today in a weak tape with shares up over 10% on heavy volume. If you take a look at the chart for Gramercy Capital, you'll see that this stock has been trending higher during the month of August as shares have traded above both its 50-day and 200-day moving averages, which is bullish. Just today, the stock has spiked up over 10% through its 200-day moving average of $3.16 on monster volume. Volume so far on Friday has registered over 1.1 million shares which is well above its three-month average volume of 325,000 shares. Much of that move was due to the news that Gramercy agreed to settle $549.7 million in mortgage debt by transferring hundreds of U.S. buildings to lenders. One analyst at Real Capital told Bloomberg in telephone interview that Gramercy might be an attractive acquisition target for buyers of discounted financial assets and someone looking to buy a public real estate platform. Market players should keep an eye on shares of Gramercy for a breakout trade if the stock can close above some significant overhead resistance at $3.21 a share. A move above that level will could easily set this stock up for a sharp move back towards $4.50 or even higher than $5 a share. The reason I think this one could move huge if it can sustain a trend over $3.21 is because there's not a whole lot of overhead resistance until $4.50. One could be a buyer of this stock once it trades above $3.21 a share on strong volume. The volume today is very encouraging, so watch for this exact type of action to follow through into next week. If you get into this name above $3.21, then I would use a mental stop at around $3 in case this stock isn't ready to rip higher. Watch for any move above $3.21 where volume is tracking in close to or above 1.1 million shares.