This Day On The Street
Continue to site
ADVERTISEMENT
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 Poised to Break Out

Amarin

If you're looking for a biotech player that looks poised to breakout, then put Amarin (AMRN) on your trading radar. This company is a clinical-stage biopharmaceutical player focused on developing improved treatments for cardiovascular disease. Amarin's development programs capitalize in the field of lipid science and the therapeutic benefits of essential fatty acids in cardiovascular disease. This stock is off to a fantastic start so far in 2011, with shares up over 76%.

If you take a look at the chart for Amarin, you'll see that this stock has been trading inside of a channel chart pattern for the past two months. During that time, the stock has been trading between the upper-end at around $15 a share and the lower-end at around $13.30 a share. Traders should now watch for a breakout above the upper-end if they're bullish on AMRN.

A move above $15.02 a share and then above its 50-day moving average of $15.74 a share could trigger a big bullish run for AMRN. I would suggest watching for a breakout that comes on big volume above these levels. Look for volume that's close to or well above its three-month average action of 2.9 million shares. This stock has a ton of upside if the breakout does hit because this name was just trading at $19.87 back in early June.

One could simply be a buyer of this stock right now and anticipate the breakout above $15.02 a share. I would add to any long position aggressively if you see AMRN trade above $15.74 on big volume. The only way I would get short this stock is if you see it trade below $13.30 on heavy volume, since that level has already triggered a double bottom support zone.

5 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
Options Profits

Our options trading pros provide over 100 monthly option trading ideas and strategies to help you become a well-seasoned trader.

Product Features:
  • Actionable options commentary and news
  • Real-time trading community
SYM TRADE IT LAST %CHG
LLEN $0.03 0.00%
ACTG $10.33 0.00%
AMRN $1.92 0.00%
CRIS $3.04 0.00%
DNN $0.85 0.00%

Markets

DOW 18,232.02 -53.72 -0.29%
S&P 500 2,126.06 -4.76 -0.22%
NASDAQ 5,089.3620 -1.4320 -0.03%

Partners Compare Online Brokers

Free Reports

Top Rated Stocks Top Rated Funds Top Rated ETFs