It's not just that stocks are moving higher right now that's significant. It's how they're moving higher that makes them especially tradable right now. Back on Thursday, in "5 Stock Charts Every Investor Needs to See," I talked a lot about how the S&P 500 was making a bounce off of an important support level in the high 1270s. That market bounce, coupled with high correlations in the market right now, is setting the stage for some attractive breakout trades in Wall Street's biggest names.
To take full advantage, we'll look at how five of those trades are setting up in this market.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 five technical setups that could deliver breakout gains to your portfolio this week.
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