Westport InnovationsAnother stock that's trending within range of triggering a near-term breakout trade is Westport Innovations ( WPRT), which is engaged in the research, development and marketing of low-emission engine and fuel injection systems that utilize alternative gaseous fuels such as natural gas, propane or hydrogen. This stock is off to a decent start in 2013, with shares up 14.5%. >>4Hot Stocks to Trade (or Not) If you take a look at the chart for Westport Innovations, you'll notice that this stock has been uptrending strong for the last three months, with shares moving higher from its low of $23.01 to its intraday high of $31 a share. During that uptrend, shares of WPRT have been consistently making higher lows and higher highs, which is bullish technical price action. Shares of WPRT have just started to move back above its 200-day moving average of $30.08 today and it's quickly moving within range of triggering a near-term breakout trade. Market players should now look for long-biased trades in WPRT if it manages to break out above some near-term overhead resistance levels at $31.60 to $32.64 a share and then once it clears more resistance at $33.30 a share with high volume. Look for a sustained move or close above those levels with volume that registers near or above its three-month average action of 646,160 shares. If that breakout triggers soon, then WPRT will set up to re-test or possibly take out its next major overhead resistance levels above $35 a share to possible $39 a share. Traders can look to buy WPRT off any weakness to anticipate that breakout and simply use a stop that sits close to some near-term support at $28.61 a share or near its 50-day at $27.74 a share. One could also buy off strength once WPRT clears those breakout levels with volume and then simply use a stop that sits just below its 200-day moving average of $30.08 a share. This is another name that the short-sellers love, since the current short interest as a percentage of the float for WPRT is massive at 26.8%. We could easily see a monster short-squeeze if WPRT takes out those key resistance levels soon, so be ready to play it.