BALTIMORE ( Stockpickr) -- As an investor, it's easy to ignore what's going on overseas and just focus on U.S. stocks. After all, in today's global markets, everything trades together, right?
For a number of reasons, foreign stocks trading on U.S. exchanges tend to have lower correlations with the broad market here at home. That means that traders looking to find unique setups can often find trades in foreign stocks that aren't showing up in domestic equities. And with so much focus on how foreign markets in Asia and Europe are leading U.S. stocks in March, it makes even more sense to take a closer technical look at some of the setups showing themselves in foreign ADRs right now.
Today, we'll take a look at five foreign names that trade on U.S. markets.>>5 Stocks Set to Soar on Bullish Earnings 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.