5 Eurozone Technical Setups for Breakout Gains

BALTIMORE (Stockpickr) -- Europe's back in the spotlight again, as Greece hits another speed bump on the road to financial recovery. Greece is hand-wringing over the decision to accept a 130 billion euro stabilization package that comes with strings attached -- the terms for the rescue package include austerity measures that Greek politicians aren't agreeing to yet.

So what does all of this mean for stocks?

In late 2011, the eurozone debt debacle was a driving force in the U.S. stock market, pushing equity prices markedly lower as uncertainty in the global financial system ratcheted higher. Today, things have changed a bit. Improved investor sentiment and positive economic data are overshadowing the situation in the EU -- at least for now.

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That could certainly change Greece's ticking time bomb of a deal is allowed to fall through before the country is able to pay off its creditors. With the eurozone catching the headlines again this week, it makes sense to take a closer look at some of the technical trading setups shaping up in stocks right now.

For the unfamiliar, technical analysis is a way for investors to quantify qualitative factors, such as investor psychology, based on a stock's price action and trends. Once the domain of cloistered trading teams on Wall Street, technicals can help top traders make consistently profitable trades and can aid fundamental investors in better planning their stock execution.

Here's a look at a handful of eurozone technical setups that could deliver breakout gains to your portfolio this week -- and one recap from last week's trades.