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5 Stocks With Breakout Potential This Week

Microsoft

Last up this week is Microsoft (MSFT - Get Report), a stock that's showing a similar setup to JPM, just one that's delayed a bit. Microsoft has enjoyed a stellar rally in 2012, pushing more than 20% higher following a breakout above longstanding resistance at $27.

In the past week or so, however, shares have been consolidating in a tight range as investors justify the size of the move. That consolidation is creating an if/then Setup in shares of MSFT right now.

Essentially, an if/then Setup is a trade whose direction is contingent on the direction that shares move outside of MSFT's horizontal channel. Put a different way, if MSFT pushes above resistance at $31.68, then it becomes a buy. Otherwise, if shares fall below support at $31, then the stock is a short candidate.

The narrowness of the range (just 68 cents) means that traders won't have to wait long for a signal.

Microsoft, one of Greenlight Capital's top holdings , shows up on recent lists of 10 Companies in the "Ultimate Stock Pickers" Portfolio and 3 Booming Tech Stocks to Own for 2012 .

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SYM TRADE IT LAST %CHG
ZNGA $2.61 4.40%
JPM $63.92 -0.75%
LEG $45.51 -0.42%
MSFT $46.28 -2.77%
SINA $43.40 -1.41%

Markets

DOW 17,841.98 -86.22 -0.48%
S&P 500 2,080.15 -9.31 -0.45%
NASDAQ 4,919.6440 -19.6830 -0.40%

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