One stock in the electronic instruments and controls complex that's approaching a major breakout trade is Maxwell Technologies ( MXWL), which develops, manufactures and markets energy storage and power delivery products for transportation, industrial, telecommunications and other applications and microelectronic products for space and satellite applications. The bears have slaughtered this stock so far in 2012, with shares off by over 55%. If you look at the chart for Maxwell Technologies, you'll notice that this stock gapped down huge back in April from over $15 to under $8 a share with heavy volume. Following that massive move lower, shares of Maxwell Technologies went on to continue to downtrend and hit its 52-week low in July at $5.81 a share. During that downtrend, shares of Maxwell Technologies were consistently making lower highs and lower lows, which is bearish technical price action. That said, the stock has formed a massive range bound trade for the last three months, with shares bouncing back and forth between $7.20 and $5.81 a share. Now this stock has started to take out its 50-day moving average of $6.68 a share, and it's moving within range of triggering a near-term breakout trade. >>7 Stocks Under $10 Making Big Moves Market players should now look for long-biased trades in MXWL if it can manage to trigger a near-term breakout trade above some overhead resistance levels at $6.78 to $7.20 a share with high volume. Look for a sustained move or close above those levels with volume that hits near or above its three-month average action of 445,698 shares. If we get that action soon, then MXWL could easily re-test and possibly take out its next major overhead resistance levels at $8.55 to $10 a share. One could buy MXWL off any weakness and simply use a stop that sits below some near-term support at $6.40 a share. You could also get long off strength once MXWL sustains a move above $6.78 to $7.20 with high volume. If you buy off strength, then I would use a stop that sits just below its 50-day moving average of $6.68 a share.