This Day On The Street
Continue to site
This account is pending registration confirmation. Please click on the link within the confirmation email previously sent you to complete registration.
Need a new registration confirmation email? Click here

5 Stocks Setting Up to Break Out

Coeur d'Alene Mines

Another stock that's just starting to form a breakout chart pattern is silver player Coeur d'Alene Mines (CDE - Get Report), a primary silver producer with gold production and has assets located in the U.S., Mexico, Bolivia, Argentina and Australia. This stock hasn't done much so far in 2011, with shares up just 2.9%.

If you take a look at the chart for Coeur d'Alene Mines, you'll see that this stock has started to break out above two key overhead resistance levels. The first level is at $26 a share, and the second level is at $27.90 a share. With the stock currently up over 7% at $28 a share, both of those levels have been taken out to the upside. What traders should watch for now is a close today on heavy volume. Look for volume that's close to or above the three-month average action of 3.4 million shares.

A strong volume close with the stock up sharply could be a precursor of more gains to come for CDE. This breakout above $27.90 could mean that CDE is setting up to trend back towards its next significant overhead resistance level at $33.10 a share, or possibly even higher.

One could be a buyer of this stock on any weakness and simply stop out of the trade if CDE drops below its 200-day moving average of $26.34 on heavy volume. I would add to any long position if CDE takes out $33.10 since it could mean a run towards its 52-week high of $37.59 is in the cards.
3 of 6

Check Out Our Best Services for Investors

Action Alerts PLUS

Portfolio Manager Jim Cramer and Director of Research Jack Mohr reveal their investment tactics while giving advanced notice before every trade.

Product Features:
  • $2.5+ million portfolio
  • Large-cap and dividend focus
  • Intraday trade alerts from Cramer
Quant Ratings

Access the tool that DOMINATES the Russell 2000 and the S&P 500.

Product Features:
  • Buy, hold, or sell recommendations for over 4,300 stocks
  • Unlimited research reports on your favorite stocks
  • A custom stock screener
Stocks Under $10

David Peltier uncovers low dollar stocks with serious upside potential that are flying under Wall Street's radar.

Product Features:
  • Model portfolio
  • Stocks trading below $10
  • Intraday trade alerts
14-Days Free
Only $9.95
14-Days Free

Check Out Our Best Services for Investors

Dividend Stock Advisor

David Peltier identifies the best of breed dividend stocks that will pay a reliable AND significant income stream.

Product Features:
  • Diversified model portfolio of dividend stocks
  • Updates with exact steps to take - BUY, HOLD, SELL
Trifecta Stocks

Every recommendation goes through 3 layers of intense scrutiny—quantitative, fundamental and technical analysis—to maximize profit potential and minimize risk.

Product Features:
  • Model Portfolio
  • Intra Day Trade alerts
  • Access to Quant Ratings
Real Money

More than 30 investing pros with skin in the game give you actionable insight and investment ideas.

Product Features:
  • Access to Jim Cramer's daily blog
  • Intraday commentary and news
  • Real-time trading forums
CDE $7.90 4.50%
GURE $1.45 0.00%
JAZZ $144.38 -0.94%
AAPL $92.69 -0.59%
FB $119.49 1.43%


Chart of I:DJI
DOW 17,740.63 +79.92 0.45%
S&P 500 2,057.14 +6.51 0.32%
NASDAQ 4,736.1550 +19.0610 0.40%

Free Reports

Top Rated Stocks Top Rated Funds Top Rated ETFs