One communications services player that's trading within range of a near-term breakout trade is Lumos Networks ( LMOS), a fiber-based service provider in the Mid-Atlantic region. The company provides data, broadband, voice and Internet protocol services over fiber optic network. This stock is off to a bearish start in 2012, with shares off by over 30%. If you take a look at the chart for Lumos Networks, you'll see that this stock was stuck in a nasty downtrend from the start of this year until May. During that downtrend, shares of Lumos Networks plunged from a high of $17.32 to a recent low of $7.65 a share. As this stock made that large plunge, shares of Lumos Networks consistently made lower highs and lower lows, which is bearish technical price action. That said, this stock has stopped that downtrend for the past two months, with shares making higher lows and now trading into position to trigger a breakout trade. >>5 Tech Stocks to Watch if QE3 Happens Traders should now look for long-biased traders in LMOS if it can manage to trigger a break out above some near-term overhead resistance at $10.40 a share with high-volume. Look for a sustained move or close above $10.40 with volume that hits near or above its three-month average action of 80,686 shares. If we get that action soon, then LMOS could easily spike higher towards $12 to $14 a share in the near future. One could be a buyer of LMOS once it takes out $10.40 with volume, and then stay with the trade if it maintains a trend above that level. This stock saw heavy volume buying on Thursday, after shares closed up around 10% and volume finished at 162,700 shares traded. Look for a continuation pattern of strong upside volume for LMOS if it triggers that breakout soon.