Another under-$10 name in the biotechnology and drugs complex that's trading within range of triggering a major breakout trade is Acadia Pharmaceuticals ( ACAD), which is focused on small molecule drugs that address unmet medical needs in neurological and related central nervous system disorders. This stock is off to a monster start in 2012, with shares up over 60% so far. This company has a catalyst on the horizon for its drug Pimavanserin, which is a treatment for patients suffering psychosis due to Parkinson's disease. Top-line results for this phase III study are expected to be released in the third quarter of 2012. As of early August, the trail is 95% enrolled, and management recently said it expects to offer data in late November to early December of this year. >>22 Biopharma Stocks With Breakout Potential in 2012 If you take a look at the chart for Acadia Pharmaceuticals, you'll see that this stock has been uptrending strong for the last three months, with shares rising from a low of $1.29 to its recent high of $1.96 a share. During that uptrend, shares of Acadia Pharmaceuticals have been making mostly higher lows and higher highs, which is bullish technical price action. That move has now pushed ACAD within range of triggering a major breakout trade. Traders should now look for long-biased trades in ACAD once it manages to break out above some near-term overhead resistance levels at $1.85 to $1.96 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 374,948 shares. If that breakout triggers soon, then look for ACAD to re-test and possibly take out its next significant overhead resistance levels at $2.30 to $3.30 a share. Any high-volume move above $3.30 will setup ACAD to trend north of $5 a share, which happens to be where it traded back in 2009. Traders can look to buy ACAD off any weakness, and simply use a stop at around its 50-day moving average of $1.63 or even down towards its 200-day moving average of $1.52 a share, depending on where you enter. One can also get long once $1.85 to $1.96 a share are taken out with high volume, and then use a stop at around $1.70 to $1.63 a share. I would add to either position once $2.30 gets taken out with volume, and then once $3.30 a share gets smashed with volume.