Another stock that's quickly approaching a major breakout is EnerNOC ( EOC), a provider of clean and intelligent energy solutions, which include demand response services, energy efficiency, or monitoring-based commissioning, services, energy procurement services and emissions tracking and trading support services. This stock has gotten creamed in 2011, with shares off by over 50%. If you take a look at the chart for EnerNOC, you'll notice that this stock has been making higher lows for the past few months after it formed a double bottom chart pattern at around $8 to $8.05 in October. Whenever any stock is making higher lows, then it's considered bullish price action. Now shares of ENOC are setting up for a major breakout if it can manage to take out some near-term overhead resistance levels. Traders should now watch for ENOC to sustain a high-volume move and close above $10.65 to $11.05 (today's high) to trigger a bigger spike higher. Look for volume that's tracking in near or above its three-month average action of 326,021 shares. So far today, the volume for ENOC has hit 360,000 shares, which is well above its average volume. >>5 Stocks That Could Rocket Higher You could be a buyer of ENOC off any weakness since the stock is flirting with a close over $10.65 today on high volume. I would use a mental stop near today's low of $10.25 in case the breakout fails to hold. I would target a run back toward $12.24 a share if ENOC continues to trend above its key breakout levels. If $12.24 is then taken out with volume, then look for a bigger move towards its 50-day moving average of $13.69 a share. This is a heavily shorted stock since 14% of the tradable float for ENOC is sold short by the bears. Any near-term breakout for ENOC could easily spark a monster short-squeeze, so make sure to keep this name on your trading radar.