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 Breakout Stocks to Eye for a Buy


One final stock that's quickly nearing a big breakout trade is OxiGene (OXGN). This is a clinical-stage, biopharmaceutical company that's developing therapeutics to treat cancer and eye diseases. This stock has traded up slightly so far in 2012 with shares up over 5%.

If you look at the chart for OxiGene, you'll notice this stock was drilled after it printed $1.97 in early November, falling to a recent low of $0.89 a share. After hitting that near-term low, this stock has started to trade sideways between $0.97 and $1.37 a share. A move to the upside outside if that sideways trading pattern should break this stock out and potentially set it up for a sharp spike higher.

Market players should watch OXGN for a high-volume move and close back above some near-term overhead resistance at $1.16 and then above $1.37 a share. Watch for volume to track in close to or well above its three-month average action of 475,874 shares. At last check, volume has already hit over 700,000 shares, so market players should now watch for OXGN to close above its 50-day moving average of $1.03.

If we get that action, then OXGN has a good chance to break out next week and spike higher once $1.16 is taken out with volume. A sustained high-volume move or close over $1.16 should set this stock up to re-test $1.37 to $1.97 a share. That $1.97 level could easily get hit once $1.37 is taken out with heavy volume, so keep this name on your trading radar for next week.

To see more breakout candidates like Melco Crown Entertainment (MPEL - Get Report), Opnext (OPXT) and Mag Silver (MVG), check out the Breakout Stocks of the Week portfolio on Stockpickr.

-- Written by Roberto Pedone in Winderemere, Fla.


Follow Stockpickr on Twitter and become a fan on Facebook.
At the time of publication, author had no positions in stocks mentioned.
Roberto Pedone, based out of Windermere, Fla., is an independent trader who focuses on stocks, options, futures, commodities and currencies. He is also an outside contributor to and maintains the website, which he sold to Blue Wave Advisors in 2008. Roberto studied International Business at The Milwaukee School of Engineering, and he spent a year overseas studying business in Lubeck, Germany.
6 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
CYOU $17.01 0.00%
DATE $7.25 0.00%
MPEL $13.46 0.00%
MVG $7.36 0.00%
OXGN $0.61 0.00%


Chart of I:DJI
DOW 16,204.97 -211.61 -1.29%
S&P 500 1,880.05 -35.40 -1.85%
NASDAQ 4,363.1440 -146.4150 -3.25%

Free Reports

Top Rated Stocks Top Rated Funds Top Rated ETFs