If you look at the chart for AMAG Pharmaceuticals, you'll notice that this stock has been uptrending notably for the last three months, with shares moving higher from its low of $13.85 to its recent high of $16.46 a share. During that uptrend, shares of AMAG have been consistently making higher lows and higher highs, which is bullish technical price action. That move has now pushed shares of AMAG within range of triggering a near-term breakout trade. Traders should now look for long-biased trades in AMAG if it manages to break out above some near-term overhead resistance at $16.46 a share with high volume. Look for a sustained move or close above $16.46 a share with volume that hits near or above its three-month average action of 84,356 shares. If that breakout hits soon, then AMAG will set up to re-test or possibly take out its next major overhead resistance levels at $18.50 to $19.62 a share. Any high-volume move above $19.62 a share will then put $21.22 into range for shares of AMAG. Traders can look to buy AMAG off any weakness to anticipate that breakout and then simply use a stop that sits just below some key near-term support at $15 a share. One could also buy AMAG off strength once it takes out $16.46 a share with volume and then simply use a stop that sits just below the 200-day moving average of $15.43 a share. To see more breakout candidates, check out the Breakout Stocks of the Week portfolio on Stockpickr. -- Written by Roberto Pedone in Winderemere, Fla.