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5 Stocks to Trade for Breakout Gains

Stocks in this article: LNKD PAY ESRX CVX IP

BALTIMORE ( Stockpickr) -- It looks like investors are getting some love this Valentine's Day.

Major indices might be dipping into the red this morning, but investors have been swooning over stocks since the beginning of the new year. And those who bought into the rally are up around 7.5% for their trouble. That's a prodigious rally for the first month and a half of 2012.

So is this relationship going to last? At this point, at least, it looks pretty put together. The S&P 500 has been locked above key resistance since the start of the year, sending a bullish signal to technicians that buyers are in control of the market. At the same time, the fact that traders have been shrugging off news from Europe speaks to the positive sentiment that remains in the equity market right now.

>>5 Rocket Stocks Worth Buying

This week is going to be heavy on both earnings and economic data, two factors that have buoyed stock prices this quarter. That's what makes it a perfect opportunity to take a look at five new technical setups in stocks for this week.

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 technical setups that could deliver breakout gains to your portfolio this week.

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