This Day On The Street
Continue to site
This account is pending registration confirmation. Please click on the link within the confirmation email previously sent you to complete registration.
Need a new registration confirmation email? Click here

5 Stocks Setting Up to Break Out


One stock in the computer services complex that looks ready to trigger a big breakout is professional networking website LinkedIn (LNKD - Get Report). This stock is off to a blazing start in 2012, with shares up a whopping 68%.

If you look at the chart for Linkedin, you'll see that this stock has been uptrending strong since the start of 2012, with shares running up from a low of $61.28 to its current price of $105.90 a share. During that monster up move, shares of LNKD have consistently made higher lows and higher highs, which is bullish technical price action. This stock has also never looked back once after it crossed its 50-day moving average in January, with shares consistently trending above that average during the entire uptrend.

Market players should now look for long-biased trades in LNKD if it can manage to trigger a breakout trade on a move or close above some near-term overhead resistance at $106.97 a share with high-volume. Look for volume on that move that hits near or well above its three-month average action of about 3 million shares. On Thursday, LNKD ripped higher by 8.4% to close just one dollar off its daily highs on volume of 3.84 million shares traded.

If LNKD can sustain a trend above $106.97 with strong upside volume flows, then this stock has an awesome chance of trading up towards its next significant overhead resistance level at $115.05 a share, or possibly up to its 52-week high of $122.70 a share. Keep in mind that the probability for a much larger move to happen will increase if LNKD clears $106.97 with solid volume.

LinkedIn, one of Tiger Global Management's holdings, was also featured recently in " 7 Stocks With Relative Strength to Beat the Market."

4 of 6

Check Out Our Best Services for Investors

Action Alerts PLUS

Portfolio Manager Jim Cramer and Director of Research Jack Mohr reveal their investment tactics while giving advanced notice before every trade.

Product Features:
  • $2.5+ million portfolio
  • Large-cap and dividend focus
  • Intraday trade alerts from Cramer
Quant Ratings

Access the tool that DOMINATES the Russell 2000 and the S&P 500.

Product Features:
  • Buy, hold, or sell recommendations for over 4,300 stocks
  • Unlimited research reports on your favorite stocks
  • A custom stock screener
Stocks Under $10

David Peltier uncovers low dollar stocks with serious upside potential that are flying under Wall Street's radar.

Product Features:
  • Model portfolio
  • Stocks trading below $10
  • Intraday trade alerts
14-Days Free
Only $9.95
14-Days Free

Check Out Our Best Services for Investors

Dividend Stock Advisor

David Peltier identifies the best of breed dividend stocks that will pay a reliable AND significant income stream.

Product Features:
  • Diversified model portfolio of dividend stocks
  • Updates with exact steps to take - BUY, HOLD, SELL
Trifecta Stocks

Every recommendation goes through 3 layers of intense scrutiny—quantitative, fundamental and technical analysis—to maximize profit potential and minimize risk.

Product Features:
  • Model Portfolio
  • Intra Day Trade alerts
  • Access to Quant Ratings
Real Money

More than 30 investing pros with skin in the game give you actionable insight and investment ideas.

Product Features:
  • Access to Jim Cramer's daily blog
  • Intraday commentary and news
  • Real-time trading forums
MKTG $0.00 0.00%
LNKD $244.59 0.00%
NQ $3.97 0.00%
TESO $8.05 0.00%
AAPL $117.81 0.00%


Chart of I:DJI
DOW 17,798.49 -14.90 -0.08%
S&P 500 2,090.11 +1.24 0.06%
NASDAQ 5,127.5250 +11.3820 0.22%

Free Reports

Top Rated Stocks Top Rated Funds Top Rated ETFs