Select Medical One name that's just starting to trigger a big breakout here is Select Medical ( SEM), which provides long term acute care hospital services and inpatient acute rehabilitative hospital care and provides physical, occupational and speech rehabilitation service. This stock has been uptrending strong so far in 2012, with shares up by 37%. If you look at the chart for Select Medical, you'll notice that this tock has been trending sideways for the last two months and change, with shares moving between $10 on the downside and $11.61 on the upside. Just today shares of SEM have started to blast higher and take out the high end of its recent trading range. This move has been accompanied by decent overall volume. Market players should now look for long-biased trades in SEM as long as it's trending above some near-term overhead resistance at $11.61 a share, and then once it breaks out above more overhead resistance at $12.50 a share with volume. Look for a sustained move or close above those breakout levels with volume that hits near or above its three-month average action of 442,614 shares. If that breakout triggers soon, then SEM will set up to re-test or possibly take out its next major overhead resistance level at $14.89 a share. One can look to buy SEM off any weakness to anticipate that breakout and simply use a stop that sits just below its 50-day moving average of $10.87 a share. Traders can also buy off strength once SEM clears $11.61 to $12.50 a share with high volume and then use a stop just below $11 a share.