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 Breakout Stocks to Eye for a Buy

WINDERMERE, Fla. ( Stockpickr) -- The Nasdaq and S&P 500 were under some selling pressure Friday after a pair of heavyweight corporate earnings failed to meet Wall Street expectations, despite a trio of strong results from some blue-chip names that kept the Dow index trading to the upside.

IBM (IBM) and Intel (INTC) helped to give the Dow strength a day after IBM issued a bullish earnings outlook, and Intel said it would boost capital spending in 2012. However, weakness at General Electric (GE) and Google (GOOG) put pressure on the on the broader indices.

At last check, the Dow Jones Industrial Average was trading up 55 points and the S&P 500 was off by 4.3 points. The tech-heavy Nasdaq was sliding lower by 9.8 points.

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 setting up to breaking out. Once a technical breakout is triggered, it can lead to big buying that will push any stock significantly higher.

Trading breakouts is not a new game on Wall Street. This strategy has been mastered by legendary traders such as William O'Neal, Stan Weinstein and Nicolas Darvas. These pros know that once a stock starts to break out above past resistance levels and to hold above those breakout prices, then it can easily trend significantly higher.

Here's a look at a number of stocks that are setting up to break out and potentially trade higher from current levels.

1 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
CYOU $33.04 2.70%
DATE $7.90 1.80%
MPEL $19.55 1.40%
MVG $7.29 -1.50%
OXGN $1.49 -2.60%

Markets

DOW 18,011.19 -29.18 -0.16%
S&P 500 2,107.04 -4.69 -0.22%
NASDAQ 5,072.4780 -10.4510 -0.21%

Partners Compare Online Brokers

Free Reports

Top Rated Stocks Top Rated Funds Top Rated ETFs