One final stock that's trading within range of a major breakout trade is communications giant Verizon Communications ( VZ), a provider of communications, information and entertainment products and services to consumers, businesses and governmental agencies. This stock is off to a slow start in 2012, with shares up just 3% so far. If you look at the chart for Verizon, you'll see that this stock has been uptrending strong since its April low of $36.80 a share. During that uptrend, shares of Verizon have consistently made higher lows and higher highs, which is bullish technical price action. That strength has now pushed VZ within range of triggering a breakout trade that would push the stock into new 52-week high territory. Traders should now look for long-biased trades in VZ if it can manage to trigger a break out above some near-term overheard resistance at $41.43 a share with high-volume. Look for a sustained move or close above that level with volume that's near or well above its three-month average action of 14.5 million shares. If we get that action soon, then VZ has a great chance to trade up towards its next significant overhead resistance levels near $45 to $50 a share. Traders should now consider getting long VZ as long as it's trending above its 50-day moving average of $39.06 a share, and above that breakout level of $41.43 a share. I would use a stop just below the 50-day if we see some weakness soon, or I would buy a strong volume breakout over $41.43, and then simple use a stop at around $40.50 a share. Volume on Thursday clocked in at 15.6 million as VZ pushed near that breakout level, which is a bullish sign since it's above the average action. Verizon shows up on a recent list of 5 Stocks Ready for Rising Data Demand. To see more breakout candidates, check out the Breakout Stocks of the Week portfolio on Stockpickr. -- Written by Roberto Pedone in Winderemere, Fla.