The S&P 500 is consolidating to start off the week, giving investors and traders a chance to absorb and rationalize the 5.6% gains that the major index booked last week. That could mean some sideways price action is in store for the S&P -- but that's hardly the case for all issues right now.
Last week's shove higher has hoisted a large group of stocks to test resistance levels, setting up an abundance of actionable technical breakout trades worth putting on your radar.
Related: 3 High-Momentum Stocks to WatchRemember, technical analysis is a way for investors to quantify qualitative factors, such as investor psychology, based on a stock's price action and trends. Once the domain of cloistered trading teams on Wall Street, technicals can help top traders make consistently profitable trades and can aid fundamental investors in better planning their stock execution. Here's a look at this week's setups.