Traders should now look for long-biased trades in IDIX once it manages to break out above some near-term overhead resistance at $5.12 a share with high volume. Look for a sustained move or close above $5.12 a share with volume that hits near or above its three-month average action of 2,203,220 shares. If that breakout triggers soon, then IDIX will set up to re-test or possibly take out its next major overhead resistance levels at $6.08 to $6.35 a share. Any high-volume move above $6.35 a share would then give IDIX a chance to re-fill some of its previous gap down zone from August that started near $8.50 a share. Traders can look to buy IDIX off any weakness to anticipate that breakout and simply use a stop that sits just below its 50-day moving average of $4.54 a share. One could also buy off strength once IDIX takes out $5.12 a share with volume and then simply use the same stop just below its 50-day at $4.54 a share. This stock is a favorite target of short sellers, since its current short interest as a percentage of its float is very high at 12.5%. Shares of IDIX could easily see a large short-squeeze materialize soon, if that breakout triggers with decent volume. Be ready to play that squeeze since it could set up IDIX for a powerful move to the upside. Nordic American Tankers My final idea that's trending very close to triggering a near-term breakout trade is Nordic American Tankers ( NAT), an international tanker company that owns approximately 20 modern double-hull Suezmax tankers, including four newbuilding vessels. This stock has been hammered by the bears in the last six months, with shares off sharply by over 35%. The chart for Nordic American Tankers shows this stock has been downtrending badly for the last four months, with shares falling from a high of $13.88 to its recent low of $8.20 a share. During that downtrend, shares of NAT consistently made lower highs and lower lows, which is bearish technical price action. That bearish action also pushed NAT into extremely oversold territory, since its relative strength index reading hit below 30. Shares of NAT have now potentially formed a double bottom at $8.28 to $8.20 a share and its quickly moving within range of triggering a near-term breakout trade.