One more stock that's trading very close to triggering a major breakout trade is Bridgepoint Education ( BPI), a provider of postsecondary education services whose academic institutions include Ashford University and University of the Rockies. Its institutions deliver programs primarily online, as well as at their traditional campuses. This stock has been smacked down by the sellers so far in 2012, with shares off by over 55%. If you look at the chart for Bridgepoint Education, you'll notice that this stock has been trending sideways for the past three months, with shares moving between $9.50 on the downside and $11.96 on the upside. Shares of BPI are now starting to trend within range of its 50-day at $10.39, and its moving very close to challenging some near-term breakout levels. Traders should now look for long-biased trades in BPI once it manages to clear some near-term overhead resistance levels at $10.33 to $11.44 a share, and then once it takes out $11.96 a share with high volume. Look for a sustained move or close above those levels with volume that tracks near or above its three-month average volume of 440,069 shares. If that breakout triggers soon, then BPI will set up for a potentially explosive move. Some upside targets that could get hit are $14 to $17 a share. One could look to buy BPI off any weakness to anticipate that breakout, and simply use a stop that sits just below some near-term support at $9.50 a share. Traders can also just buy off strength once BPI starts to take out those breakout levels with volume, and then simply use a stop a few percentage points below its 50-day at $10.39 a share. Look to add to either position once BPI clears $11.96 with heavy volume. To see more breakout candidates, check out the Breakout Stocks of the Week portfolio on Stockpickr. -- Written by Roberto Pedone in Winderemere, Fla.