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

Mentor Graphics

A stock in the software and programming complex that's just starting to break out today is Mentor Graphics (MENT - Get Report), a supplier of electronic design automation systems-advanced computer software and emulation hardware systems used to automate the design, analysis and testing of electronic hardware and embedded systems software in electronic systems and components. This stock is up around 12% so far this year.

If you look at the chart for Mentor Graphics, you'll see that this stock formed a triple bottom in August and September at $8.50 to $8.75 a share. After putting in that major bottom, the stock then took off and ripped to the upside to its current price of around $13.50 a share. That massive move up has now started to trigger a breakout trade today since shares of MENT are moving above some near-term overhead resistance at $12.98 to$13.17 a share on decent volume.

>>5 Stocks Under $10 Set to Soar

Market players should now watch for a sustained high-volume move and close above $13.17 and near the daily high of $13.52 to trigger a big breakout. Look for volume at today's close that's near or well above its three-month average action of about a million shares. If we see a close for MENT into breakout territory, then watch for this stock to make a run at its next significant overhead resistance levels of $15.40 to $16 a share in the near future.

If you like how Mentor's chart looks, then one could be a buyer off any weakness and simply use a mental stop that's a few percentage points below $13.17, or even just a few points below $12.98 a share.
4 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
CPRX $1.69 0.00%
MENT $17.01 0.00%
RAVN $14.91 0.00%
SCSS $20.32 0.00%
AAPL $94.27 0.00%


Chart of I:DJI
DOW 15,914.74 -99.64 -0.62%
S&P 500 1,851.86 -0.35 -0.02%
NASDAQ 4,283.5920 +14.8290 0.35%

Free Reports

Top Rated Stocks Top Rated Funds Top Rated ETFs