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TheStreet Open House

5 Breakout Stocks to Trade for Gains

BALTIMORE (Stockpickr) -- The big indices posted their best first quarter in more than a decade in the three months ended March 31. So can they do it again?

The S&P 500 climbed a full 12% in the first quarter, itself shy of the massive 18.7% rally that we saw in the Nasdaq Composite over that same period. That's some pretty staggering performance, especially when the weak trading of the latter half of 2011 is taken into account. And now, late-to-the-game investment managers are scrambling to match those returns -- after all, anyone who entered 2012 with a conservative bent is trailing the market big-time right now.

Whether Mr. Market can continue this rally is another story. At this point, the macro technical picture is still looking strong, despite less appealing fundamentals in markets like China. Earning season's start later this month could rekindle the fundamental argument for buyers to keep buying.

>>4 Stocks Set to Soar on Earnings

In the meantime, we're focusing on those technicals factors to take a look at five breakout trades 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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