Noah One name that's trending very close to triggering a major breakout trade is Noah ( NOAH), a service provider focusing on distributing wealth management products to the high net worth population in the People's Republic of China. This stock is down notably so far in 2012, with shares off by 14%. The chart for Noah shows this stock has been uptrending very strong for the last month and change, with shares moving from a low of $4.25 to its recent high of $5.29 a share. During that uptrend, shares of NOAH have been consistently making higher lows and higher highs, which is bullish technical price action. That move has now pushed shares of NOAH within range of triggering a major breakout trade. Market players should now look for long-biased trades in NOAH once it manages to break out above some past overhead resistance at $5.45, and then once it takes out its 200-day moving average of $5.82 a share with volume. Look for a sustained move or close above those levels with volume that registers near or above its three-month average action of 29,578 shares. If that breakout triggers soon, then NOAH will set up to re-test or possibly take out its next significant overhead resistance levels at $7 to $8 a share. One can look to buy NOAH off any weakness to anticipate that breakout and simply use a stop that sits right around its 50-day moving average of $4.78 a share. Traders can also buy off strength once NOAH clears $5.45 to $5.82 a share with high volume and then use a stop just below $5.35 a share. Idenix Pharmaceuticals Another stock that's quickly pushing into range of triggering a near-term breakout trade is Idenix Pharmaceuticals ( IDIX). This company is engaged in the discovery and development of drugs for the treatment of human viral diseases with operations in the U.S. and Europe. This stock has been a favorite target of the bears, with shares down by close to 35% so far in 2012. The chart for Idenix Pharmaceuticals shows this stock had been downtrending badly from July to early November, with shares plunging from a high of $11.30 to a recent low of $3.35 a share. During that downtrend, shares of IDIX consistently made lower highs and lower lows, which is bearish technical price action. That said, shares of IDIX have just started to come off that $3.35 low and break back above its 50-day moving average of $4.54 a share with heavy upside volume. That move is now pushing IDIX within range of triggering a near-term breakout trade.