Another stock that's starting to push within range of triggering a major breakout trade is Echo Therapeutics ( ECTE), a transdermal medical device company. This stock has been destroyed by the bears so far in 2013, with shares off sharply by 76%. >>5 Stocks Rising on Unusual Volume If you look at the chart for Echo Therapeutics, you'll notice that this stock recently dropped sharply from $5.99 to its low of $2.32 a share with heavy downside volume flows. Following that plunge, share of ECTE have started to stabilize and trend sideways between $2.32 on the downside and $2.68 on the upside. That stabilization is occurring after the stock entered oversold territory, since its relative strength index reading recently dipped below 30. Shares of ECTE have now marked a double bottom at $2.32 to $2.39 a share and it's starting to move within range of triggering a major breakout trade. Traders should now look for long-biased trades in ECTE if it manages to break out above some near-term overhead resistance levels at $2.68 to $3 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 127,076 shares. If that breakout hits soon, then ECTE will set up to re-test or possibly take out its next major overhead resistance levels at $3.50 to its 50-day moving average of $4.20 a share. Any high-volume move above its 50-day at $4.20 a share will then give ECTE a chance to tag $5 to $5.50 a share. Traders can look to buy ECTE off any weakness to anticipate that breakout and simply use a stop that sits right below some key near-term support levels at $2.39 to $2.32 a share. One can also buy ECTE 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.