My final breakout trading candidate is Venaxis ( APPY), which advances products that address unmet human diagnostic needs. This stock has been hit hard by the bears so far in 2013, with shares down by 48%. >>5 Rocket Stocks to Buy for Earnings Season If you look at the chart for Venaxis, you'll notice that this stock has started to consolidate and trend sideways after a major downtrend from February to late May, with the stock now moving between $1.15 on the downside and $1.45 on the upside. Shares of APPY have just started to uptrend over the last few weeks, with shares moving higher from its low of $1.17 to its recent high of $1.41 a share. That move is quickly pushing shares of APPY with range of triggering a major breakout trade above the upper-end of its recent sideways trading chart pattern. Traders should now look for long-biased trades in APPY if it manages to break out above some near-term overhead resistance levels at $1.41 to $1.45 a share with high volume. That breakout, if triggered, would also push APPY back above its 50-day at $1.44 a share. Look for a sustained move or close above those levels with volume that hits near or above its three-month average action of 749,656 shares. If that breakout triggers soon, then APPY will set up to re-test or possibly take out its next major overhead resistance levels at $1.70 to $1.80 a share. Any high-volume move above those levels will then give APPY a chance to tag its next major overhead resistance levels at $1.94 to its 200-day at $2.08 a share. Traders can look to buy APPY off any weakness to anticipate that breakout and simply use a stop that sits right below either of its key near-term support levels at $1.20 or $1.15 a share. One could also buy APPY off strength once it clears those breakout levels with volume and then simply use a stop that sits a conformable percentage from your entry point. To see more breakout candidates, check out the Breakout Stocks of the Week portfolio on Stockpickr. -- Written by Roberto Pedone in Delafield, Wis.