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5 Stocks Poised for Breakouts

WINDERMERE, Fla. ( Stockpickr) -- U.S. stocks finished lower on Friday as traders remained cautious due to the continued uncertainty surrounding the European sovereign-debt crisis, specifically focused on Greece and the possibly consequences for the euro.

That uncertainly was only heightened Friday after German Chancellor Angela Merkel said few countries in the G-20 had committed to providing more resources for a eurozone rescue fund. Market players seemed to be in a risk off mood since the possible failure of Europe to agree on a eurozone bailout package could be another nightmarish scenario for the markets.

Despite the weakness in the broad indices on Friday, there were many stocks that were breaking out and printing new 52-week highs. One example of both was coffee king Starbucks (SBUX - Get Report), which reported solid earnings and saw its stock close very close to its all-time high of $44.69, which was hit earlier in the day.

>>5 Beaten-Down Tech Stocks Poised to Rebound

The top traders in the world know that markets are made up of thousands of stocks in different sectors. With so many moving parts, there's always some sector or stock that's acting strong and breaking out. 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 potentially trade higher from current levels.

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SYM TRADE IT LAST %CHG
STP $0.53 0.00%
AMAG $60.01 0.00%
CSGS $29.82 0.00%
PPHM $1.38 0.00%
SBUX $51.84 0.00%

Markets

DOW 18,080.14 +21.45 0.12%
S&P 500 2,117.69 +4.76 0.23%
NASDAQ 5,092.0850 +36.0220 0.71%

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