Scorpio TankersMy final idea that's trending very close to triggering a near-term breakout trade is Scorpio Tankers ( STNG), which is engaged in seaborne transportation of crude oil and refined petroleum products in the international shipping markets. This stock has been ripping higher so far in 2013, with shares up 18%. If you look at the chart for Scorpio Tankers, you'll notice that this stock has been uptrending strong for the last three months, with shares soaring higher from its low of $5.19 a share to its recent high of $8.51 a share. During that uptrend, shares of STNG have been consistently making higher lows and higher highs, which is bullish technical price action. That move has now pushed shares of STNG within range of triggering a near-term breakout trade. Traders should now look for long-biased trades in STNG once it manages to break out above its 52-week high of $8.51 a share with high volume. Look for a sustained move or close above $8.51 a share with volume that hits near or above its three-month average action of 275,353 shares. If that breakout triggers soon, then STNG will set up to re-test or possibly take out its next major overhead resistance levels at $10 to $11 a share. Traders can look to buy STNG off any weakness to anticipate that breakout and simply use a stop that sits right below its 50-day moving average of $7.39 a share. They can also look to buy STNG off strength once it takes out $8.51 a share with volume and then simply use a stop that sits just below some key near-term support levels at $8 to $7.72 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.
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