Another stock that's starting to move within range of triggering a major breakout trade is Impax Laboratories ( IPXL), which is focused on the development and commercialization of bioequivalent and brand-name pharmaceuticals, utilizing its controlled-release and other in-house development. This stock hasn't done much so far in 2013, with shares down by 4.8%. >>4 Stocks Under $10 Making Big Moves If you look at the chart for Impax Laboratories, you'll notice that this stock has been uptrending strong for the last four months, with shares soaring higher from its low of $14.41 to its recent high of $19.95 a share. During that uptrend, shares of IPXL have been consistently making higher lows and higher highs, which is bullish technical price action. Also, the upside volume for IPXL has started to track in strong over the last few trading sessions, with 1.5 million, 1.6 million and 1.3 million shares traded versus its three-month average daily volume of 1.05 million shares. That action has now pushed shares of IPXL within range of triggering a major breakout trade. Traders should now look for long-biased trades in IPXL if it manages to break out above its 200-day moving average at $20.05 share and then once it takes out some past overhead resistance levels at $20.90 to $22.38 with high volume. Look for a sustained move or close above those levels with volume that hits near or above its three-month average volume of 1.05 million shares. If that breakout triggers soon, then IPXL will set up to re-fill some of its previous gap down zone from last October that started near $25 a share. If that gap gets filled with strong volume, then IPXL could re-test or take out its 52-week high at $27.25 a share. Traders can look to buy IPXL off any weakness to anticipate that breakout and simply use a stop that sits right below its 50-day moving average at $18.15 a share. One can also buy IPXL off strength once it takes out those breakout levels with volume and then simply use a stop that sits a comfortable percentage from your entry point.