One name in the biotechnology and drugs complex that's flirting with a major breakout trade is Synthetic Biologics ( SYN), which is focused on the development of synthetic deoxyribonucleic acid (DNA)-based therapeutics and disease-modifying medicines for serious illnesses. This stock is off to a slow start in 2012, with shares off by around 10% so far. If you look at the chart for Synthetic Biologics, you'll see that this stock formed a perfect triple bottom chart pattern just a few weeks ago at around $1.71 to $1.77 a share. Following that bottom, shares of SYN blasted off its 50-day moving average to its current price of around $2.30 a share. During that sharp spike higher, the upside volume for SYN has been tracking in very strong. A number of recent up days have registered volume between 125,000 to 264,000 shares, which is well above its three-month average action of 70,048 shares. >>5 Health Care Stocks Setting Up to Break Out Traders should now look for long-biased trades in SYN once it can manage to trigger a major breakout trade above some overheard resistance levels at $2.36 to $2.37 a share with high volume. Look for a sustained move or close above those levels with volume that's near or above its three-month average action of 70,048 shares. If we get that move soon, then this stock has an awesome chance of re-testing and possibly taking out its 52-week high of $2.95 a share. I could even see his stock hitting $4 a share, if that $2.95 level gets taken out with volume. I would recommend buying SYN off strength or weakness with a stop near today's low of $2.12 a share, or just below $2 a share if you get it off extreme near-term weakness. If you want to buy off pure strength, then get long once SYN takes out $2.36 to $2.37 with high volume. At last check, SYN has hit an intraday high of $2.38 today and the volume is already over 72,000 shares. Keep in mind that SYN sports a decent short interest as a percentage of its float of 6.4%. The tradable float for SYN is just 19.16 shares, so this stock could easily see a monster short-squeeze that sends shares soaring over $2.95. In fact, that's the reason I think it could take off if we get the $2.95 breakout, since the shorts will be stuck in a stock with such a low float.