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5 Breakout Stocks to Eye for a Buy

Sify Technologies

One stock in the computer services complex that's nearing a major breakout is Sify Technologies (SIFY). This company is an integrated Internet, network and electronic commerce services companies in India, offering end-to-end solutions with a range of services delivered over a common Internet backbone infrastructure. This stock is ripping big so far in 2012 with shares already up over 20%.

If you look at the chart for Sify Technologies, you'll notice that this stock has been uptrending since it hit a near-term bottom at $3.70 in mid-December. Since hitting that bottom, the stock has been spiking higher on solid volume back above its 50-day and 200-day moving averages. That's bullish price action, and now shares of SIFY are setting up to trigger a big breakout trade.

Market players should SIFY for a breakout trade if this stock can manage to clear some near-term overhead resistance levels at $5.08 to $5.39 on heavy volume. A sustained high-volume move or close above those levels should set this stock up to trend back towards its next significant overhead resistance level at $6.45 a share, or potentially much higher. Look for volume on the breakout that registers near or well above its three-month average action of 852,390 share.
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