One stock that's quickly moving within range of triggering a near-term breakout trade is Stratasys ( SSYS), a global provider of additive manufacturing solutions for the creation of parts used in the processes of designing and manufacturing products and for the direct manufacture of end parts. This stock is off to a slow start in 2013, with shares off by 6.3%.

If you take a look at the chart for Stratasys, you'll notice that this stock has just started to break out above some near-term overhead resistance levels at $73.38 to $74.17 a share. Volume so far today is tracking in below its three-month average action of 875,403 a shares, since only 326,000 shares have traded to this point. This move is quickly pushing shares of SSYS within range of triggering another near-term breakout trade.

Traders should now look for long-biased trades in SSYS if it manages to break out above its 50-day moving average of $75.17 a share and then once it takes out more overhead resistance at $77.50 a share with volume. Look for a sustained move or close above those levels with volume that registers near or above its three-month average action of 875,403 shares. If that breakout triggers soon, then SSYS will set up to re-test or possibly take out its next major overhead resistance levels at $84 to $87.50 a share. Any high-volume move above those levels will then put its all-time high at $92.30 into range for shares of SSYS.

Traders can look to buy SSYS off any weakness to anticipate that breakout and simply use a stop that sits right around today's low of $72.55 a share. One could also buy SSYS off strength once it takes out those breakout levels with volume and then simply use a stop right below $74 a share.

Keep in mind that this stock is popular among the short sellers, since the current short interest as a percentage of the float of SSYS is pretty high at 10.7%. If that breakout can be sustained, then shares of SSYS could easily see a large short-squeeze develop in the near future.

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