One biotechnology player that's starting to trend within range of triggering a big breakout trade is Anacor Pharmaceuticals ( ANAC), which is engaged in the discovery, development and commercialization of novel small molecule therapeutics derived from its novel boron chemistry platform. This stock has been on fire so far in 2013, with shares up huge by 169%. If you take a look at the chart for Anacor Pharmaceuticals, you'll notice that this stock has been uptrending strong for the last two months, with shares moving higher from its low of $9.84 to its recent high of $14.56 a share. During that uptrend, shares of ANAC have been making mostly higher lows and higher highs, which is bullish technical price action. That move has now pushed shares of ANAC within range of triggering a big breakout trade. >>5 Stocks Set to Soar on Bullish Earnings Traders should now look for long-biased trades in ANAC if it manages to break out above last Friday's high of $14.11 to its 52-week high at $14.56 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 volume of 344,886 shares. If that breakout hits soon, then ANAC will set up to enter new 52-week high territory, which is bullish technical price action. Some possible upside targets off that breakout are $18 to $20 a share. Traders can look to buy ANAC off any weakness to anticipate that breakout and simply use a stop that sits right around its 50-day moving average of $12.33 a share. One can also buy ANAC off strength once it starts to take out those breakout levels with volume and then simply use a stop that sits a comfortable percentage from your entry point.