A stock in the computer hardware complex that's trading very close to triggering a major breakout trade is Cray (CRAY), which develops, manufactures, markets and services high-performance computing systems, known as supercomputers and provides engineering services related to HPC systems and solutions. This stock is blazing a trail to the upside so far in 2012, with shares up around 75%.
If you look at the chart for Cray, you'll notice that this stock gapped up big in late April twice as the stock skyrocketed from around $7 to a high of $11.50 a share. Those gap-ups were accompanied with heavy upside trading volume. Following that action, shares of Cray have trended sideways for the past month and change, between $10 on the downside and $11.87 on the upside. That move has now pushed Cray within range of triggering a major near-term breakout trade and taking out its upside resistance.
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