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5 Stocks With Breakout Potential This Week


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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ZNGA $2.38 -0.83%
JPM $63.20 -0.63%
LEG $49.29 3.35%
MSFT $49.87 -0.06%
SINA $50.09 -0.54%


Chart of I:DJI
DOW 17,773.64 -57.12 -0.32%
S&P 500 2,065.30 -10.51 -0.51%
NASDAQ 4,775.3580 -29.9330 -0.62%

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