5 Stocks With Relative Strength Poised to Break Out
WINDERMERE, Fla. (Stockpickr) -- U.S. stocks are once again trending lower today as market players reacted negatively to weak overseas economic data and as the market registered its worst quarter in years. Unfortunately for the bulls, quarter-end window dressing has turned into window undressing as large traders continue to sell and ask questions later.
At last check, the Dow Jones Industrial Average was down almost 150 points while the S&P 500 was off by 19 points. The tech-heavy Nasdaq was dropping by 44 points.
>>5 Stocks With Big Downside Potential
On days like today, I scan the markets for countertrending stocks are displaying relative strength and frustrating the bears. If the short-sellers can't knock these names down today, then there could be an underlying bid on these stocks that makes them attractive buys. An even more bullish sign is a stock displaying relative strength that's either approaching a breakout or breaking out on a big down day like today.
Trading breakouts is not a new game on Wall Street. This strategy has been by legendary traders such as William O'Neal, Stan Weinstein and Nicolas Darvas. Here 's a look at a number of stocks that are setting up to break out and trade higher from current levels.
 |
Select the service that is right for you!
COMPARE ALL SERVICESAction Alerts PLUS
TRY IT FREEJim Cramer and Stephanie Link actively manage a real portfolio and reveal their money management tactics while giving advanced notice before every trade.
Product Features:
- $2.5+ million portfolio
- Large-cap and dividend focus
- Intraday trade alerts from Cramer
- Weekly roundups
Dividend Stock Advisor
TRY IT FREENew! $49.95/yr
Jim Cramer's protege, 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
- Alerts when market news affect the portfolio
- Bi-weekly updates with exact steps to take - BUY, HOLD, SELL
Stocks Under $10
TRY IT FREEDavid Peltier, uncovers low dollar stocks with extraordinary upside potential that are flying under Wall Street's radar.
Product Features:
- Model portfolio
- Stocks trading below $10
- Intraday trade alerts
- Weekly roundups
Real Money
TRY IT FREE24/7 market commentary from Jim Cramer and 20+ veteran Wall Street gurus. Get access to the latest trading ideas on stocks, options, and ETFs as well as a real-time forum to see the pros exchanging their investment ideas.
Product Features:
- Jim Cramer + 20 Wall Street pros
- Intraday commentary & news
- Real-time trading forum
- Actionable trade ideas
Real Money Pro
TRY IT FREEAll of Real Money, plus 15 more of Wall Street's sharpest minds delivering actionable trading ideas, a comprehensive look at the market, and fundamental and technical analysis.
Product Features:
- Real Money + Doug Kass + 15 more Wall Street Pros
- Intraday commentary & news
- Ultra-actionable trading ideas
Options Profits
TRY IT FREEOur options trading pros provide daily market commentary and over 100 monthly option trading ideas and strategies to help you become a well-seasoned trader.
Product Features:
- 100+ monthly options trading ideas
- Actionable options commentary & news
- Real-time trading community
- Options TV
