Another stock that's trading within range of a major breakout trade is Sirius XM Radio ( SIRI), which broadcasts its music, sports, entertainment, comedy, talk, news, traffic and weather channels in the U.S. on a subscription fee basis through its two satellite radio systems. This stock has been blazing a trail higher so far in 2012, with shares up over 35%. If you look at the chart for Sirius XM Radio, you'll see that this stock has been uptrending extremely strong for the last three months, with shares skyrocketing from $1.80 to its recent high of $2.64 a share. During that uptrend, shares of SIRI have mostly been making higher lows and higher highs, which is bullish technical price action. That move has quickly pushing SIRI within range of triggering a major breakout trade. Traders should now look for long-biased trades in SIRI if it can manage to break out above some near-term overhead resistance levels at $2.59 to $2.64 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 57.7 million shares. If that breakout triggers soon, then I expect SIRI to continue on its uptrend and potentially tag $4 to $5 a share, or possibly even higher. One could look to buy SIRI off weakness and simply use a stop that sits just below its 50-day moving average of $2.37 a share. One could also buy SIRI off strength once it takes out $2.59 to $2.64 a share with high volume, and then simply use a stop at around $2.50 to $2.40 a share. This is another stock that's a favorite target of the bears. The current short interest as a percentage of the float for SIRI is pretty high at 8.6%. The bears have also been increasing their bets from the last reporting period by 9%, or by about 23.4 million shares. Look for a solid short-squeeze to develop if SIRI triggers that breakout soon. Enzo Biochem One more stock that could be ready to trigger a near-term breakout trade is Enzo Biochem ( ENZ), an integrated life sciences and biotechnology company focused on harnessing biological processes to develop research tools, diagnostics and therapeutics and serves as a provider of test services, including esoteric tests, to the medical community. This stock is off to a bearish start in 2012, with shares off by over 25% during the last six months. If you look at the chart for Enzo Biochem, you'll see that this stock hit a near-term bottom in August at around $1.33 a share. Since tagging that bottom, shares of ENZ have started to uptrend towards its current price of around $1.95 a share. During that uptrend, shares of ENZ have been making mostly higher lows and higher highs, which is bullish technical price action. That move is quickly pushing ENZ within range of triggering a near-term breakout trade. Traders should now look for long-biased trades in ENZ once it manages to clear some near-term overhead resistance levels at $2 to $2.19 a share with high volume. Look for volume off that move that registers near or above its three-month average action of 190,455 shares. If that breakout triggers soon, then ENZ will have a great chance of re-testing or possibly taking out its next major overhead resistance levels at $2.88 to $3.12 a share. Any high-volume move above $3.12 could then put $4 a share into play for ENZ. One could look to buy ENZ off any weakness, and simply use a stop that sits right around its 50-day moving average of $1.67 a share. You could also just buy off strength once ENZ clears $2.00 to $2.19 a share with high volume, and then simply use a stop around some near-term support at $1.84 a share. Keep in mind that once ENZ clears $2.17 with volume, then it will have taken out its 200-day moving average, which is bullish technical price action. To see more breakout candidates, check out the Breakout Stocks of the Week portfolio on Stockpickr. -- Written by Roberto Pedone in Winderemere, Fla.