Stocks Poised for Breakouts

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Stock Pick for Mon, Jan 26, 2015: E*TRADE Financial Corporation (ETFC)

E*TRADE Financial Corporation (ETFC) jumped 8.4% on Friday on almost 4x average volume after the release of its good fourth-quarter results and closed at 24.56, right at resistance area, which if broken with a move (confirmation of trend) above 25 is likely to accelerate prices even higher toward 26-27 in the short term period.

 

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Stock Pick for Tue, Jan 27, 2015: Merck & Co. Inc. (MRK)

Merck & Co. Inc. (MRK) has been consolidating in a bullish flag pattern in the last two weeks after a move of about $6 from the 57 range to around 63 earlier this month. A breakout of the resistance at 63.4 could initiate new momentum and accelerate prices toward 65 area in the short term. Initial stop is set below flag low at 61.4.

 

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Stock Pick for Mon, Feb 2, 2015: Goldcorp Inc. (GG)

Goldcorp Inc. (GG) his consolidating in a bullish flag after a move of about 40% from the 17 range on mid-December to around 24 earlier this month. A break out of the flag at 24.85 could initiate new momentum and accelerate prices toward 26 in the short term. Initial stop is set below THE trend line at 22.9.

 

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4 charts ready fro breakout...

4 charts ready for breakout...

 

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General Motors Company (GM)

General Motors Company (GM) - after more than 15% move in the first half of February the stock is consolidating in rectangle formation with the horizontal resistance at 38.2, which if broken today/in the coming days could lead to a new wave toward upper channel line at around 39.5 zone. Another bullish sign is that despite recent correction in market, the stock didn't show any signs of weakness but remains withing its tight pattern range. Trade strategy will be to enter if it breaks 38.2 with initial stop at 37.4.

 

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Stock Pick for Tue, Mar 31 - Apple Inc. (AAPL)

After more than 5 weeks of consolidation Apple Inc. (AAPL) chart looks like it may start new momentum which could move the stock toward new highs into 135-150 range. Helped with strong bounce in overall market it already broke 20 day moving average today and is moving toward descending trend line at around 128 which if broken is likely to confirm the end of consolidation period and accelerate prices higher. Downside protection(stop) at 50SMA & horizontal support at around 122.

 

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5 Stocks Poised for Breakout

 

[Konviction]

Interesting charts. Nice analysis.

 

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Jazz Pharma. (JAZZ)

Jazz Pharma. (JAZZ) is approaching horizontal resistance at 190.5 that has contained prices on two occasions in the last two months, the stock is in an up trend with higher lows and is putting pressure on that resistance, a break of which could lead to 195 on the short term. Trading strategy: entry on a breakout confirmation at 190.5 with 192.9 as a 1st target for partial profit and stop adjustment from initial stop level at 185.9 to break even, main target at 195.9.

 

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Xyl

Xylem Inc. (XYL)* is positioned for a possible upside reversal after it has been consolidating for more than three months in a sideways pattern. The stock needs to break resistance at 36.4, which has been tested three times in the last two months, for confirmation of the trend reversal. First target at 36.95 set for partial profit and stop adjustment from initial stop loss level at 35.7 to break even.

XYL earnings on 30th April

 

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Trade Idea for Wed, Jun 24, 2015

Lululemon Athletica Inc. (LULU) broke out today on a higher then average volume after two week of consolidation in a bullish pennant formation. The stock is likely to continue with momentum toward the resistance of a bigger (8 month) broadening wedge formation in 72 area. For an entry I will wait confirmation of a trend - move above 69. Referent point for the initial stop loss is pennant support trend line at 66.

 

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Flotek Industries Inc. (FTK)

Flotek Industries Inc. (FTK) is consolidating in ascending triangle beneath key resistance at 19.2 that has contained prices on 5 occasions over the last 12 months, breakout above that resistance would signal major reversal which could lead prices toward 22 area on the short term.

 

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Watch List

Watch List:

 

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Aerospace & Defense has been one of the best performing industry today as reaction to terrorist attacks. Three stocks within that industry with bullish technicals which suggests high possibility for continuation of momentum for the rest of the week are:

 

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After 4 month of consolidation Broadcom Corp. (BRCM) broke it’s horizontal resistance at 54 and is likely to start new momentum which could move prices toward June highs at around 57 area. With initial stop below today’s low at 53.2 this trade has solid risk reward ratio…

 

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NeoPhotonics Corporation (NPTN) broke key technical resistance

NeoPhotonics Corporation (NPTN) broke key technical resistance at 11 yesterday after the stock has been moving sideways for more then 6 months. Today breakout is a 2nd day of momentum which started last week when the stock broke out of a mini consolidation between 9 and 10 area. Increasing volume, which is today more then double then average is confirming the strength and increases the chance for success of the breakout. Short term target is in 13 area.

 

[dbphoenix]

NeoPhotonics Corporation (NPTN) broke key technical resistance at 11 yesterday after the stock has been moving sideways for more then 6 months. Today breakout is a 2nd day of momentum which started last week when the stock broke out of a mini consolidation between 9 and 10 area. Increasing volume, which is today more then double then average is confirming the strength and increases the chance for success of the breakout. Short term target is in 13 area.

Nice channel. Note also that yesterday's high was at the median of this channel.

Db

 

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This Gold Stock is Poised for Breakout...

Traders and investors continue to reallocate capital in defensive sectors and GOLD which is in a strong momentum for 4th day in a row, trading at highest level since November ’15. Gold stocks are following momentum in commodity and most of them already broke out of their consolidation periods but one gold stock is lagging and just approaching its potential reversal point at 39 which if broken could reverse its 6 month bearish trend move into 43 area.

 

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Ppc

 

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