This Day On The Street
Continue to site right-arrow
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
TheStreet Open House

5 Breakout Stocks to Eye for a Buy India

Another stock in the computer services complex that's nearing a big breakout is India (REDF). This company, along with its subsidiaries, is engaged in the business of providing online Internet-based services, focusing on India and the global Indian community. This is another stock that's off to blazing start in 2012 with shares up over 17% so far.

If you look at the chart for India, you'll notice this stock has found some big buying support in the past few months at around $7.11 to $7.37 a share. After that buying interest swept in, shares of REDF started to uptrend, and it's now challenging a move back above its 200-day moving average of $9.06 a share. If that level can get taken out along with some near-term overhead resistance, then REDF could easily breakout and spike significantly higher.

Market players should now watch REDF for a sustained high-volume move and close above $9.06 and $9.25 a share. Look for a volume that's near or above its three-month average action of 460,685 shares. If we get that action, then I would look for REDF to re-test $10.50 to $11.20 a share, or possibly much higher.

Keep in mind that REDF will report earnings on January 25 before the market opens. Regardless of that upcoming news event, I would still look to play this breakout for a trade going into next week. This stock could easily spike up towards $11.20 before their numbers are released.

5 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
Try it NOW
Only $9.95
Try it NOW
14-Days Free
Try it NOW

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
Try it NOW
Try it NOW
Try it NOW
To begin commenting right away, you can log in below using your Disqus, Facebook, Twitter, OpenID or Yahoo login credentials. Alternatively, you can post a comment as a "guest" just by entering an email address. Your use of the commenting tool is subject to multiple terms of service/use and privacy policies - see here for more details.
Submit an article to us!
CYOU $26.84 0.00%
DATE $5.07 0.00%
MPEL $21.70 0.00%
MVG $6.85 0.00%
OXGN $1.42 0.00%


DOW 17,712.66 +34.43 0.19%
S&P 500 2,061.02 +4.87 0.24%
NASDAQ 4,891.2190 +27.8570 0.57%

Partners Compare Online Brokers

Free Reports

Free Newsletters from TheStreet

My Subscriptions:

After the Bell

Before the Bell

Booyah! Newsletter

Midday Bell

TheStreet Top 10 Stories

Winners & Losers

Register for Newsletters
Top Rated Stocks Top Rated Funds Top Rated ETFs