Another stock that's starting to move within range of triggering a major breakout trade is Venaxis ( APPY), which develops products for human diagnostic and animal health therapeutic needs. This stock has hot during the last three months, with shares up by 30%. If you take a look at the chart for Venaxis, you'll see that this stock has started to bounce today right above its 50-day moving average of $2.42 a share and back above its 200-day moving average of $2.70 a share. This action is quickly pushing APPY within range of triggering a major breakout trade. Market players should now look for long-biased trades in APPY if it manages to break out above some near-term overhead resistance levels at $2.91 to $2.94 a share and then once it takes out some more overhead resistance levels at $3.17 to $3.18 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 371,216 shares. If that breakout triggers soon, then APPY will set up to re-test or possibly take out its next major overhead resistance levels at $3.50 to $3.96 a share. Any high-volume move above those levels will then put $4 to $4.50 into focus for shares of APPY. Traders can look to buy APPY off any weakness to anticipate that breakout and simply use a stop that sits just below its 50-day moving average of $2.42 a share. One could also buy off strength once APPY clears those breakout levels with volume and then simply use a stop right around its 200-day or 50-day moving averages.