One stock that's trending very close to triggering a near-term breakout trade is Velti ( VELT), which is a global provider of mobile marketing and advertising technology and solutions. This stock has been destroyed by the bears during the last six months, with shares off by 74%. If you take a look at the chart for Velti, you'll notice that this stock has been trending sideways in a consolidation pattern for the last month, with shares moving between $1.80 on the downside and $2.10 on the upside. This consolidation pattern is occurring after shares of VELT gapped down in mid-March from over $3 to around $2 a share. Shares of VELT are now starting to move within range of triggering a near-term breakout trade above the upper-end of its recent sideways chart pattern. >>5 Stocsk Under $10 Making Big Moves Traders should now look for long-biased trades in VELT if it manages to break out above some near-term overhead resistance levels at $2.08 to $2.10 a share and then above more resistance at $2.13 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 2.35 million shares. If that breakout triggers soon, then VELT will set up to re-test or possibly take out its gap down day high that sits right around $2.50 a share. Traders can look to buy VELT off any weakness to anticipate that breakout and simply use a stop that sits just below some key near-term support levels at $1.86 to $1.80 a share. One could also buy VELT off strength once it takes out those breakout levels with volume and then simply use a stop right at around $2 to $1.86 a share. I would add to either position once VELT clears its gap down day high at $2.50 with strong volume. This stock is a favorite target of the short-sellers, since its current short interest as a percentage of the float is extremely high at 27.9%. If that breakout triggers soon, then I expect to see a monster move higher for VELT as the shorts rush to cover some of those bearish bets.