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
Stocks Under $10 with 50-100% upside potential - 14 days FREE!

5 Stocks Poised for Breakouts

Apple

Another tech stock that's setting up to trigger a near-term breakout is technology king Apple (AAPL). This stock is off to a strong start in 2012, with shares up around 50%. (It was also featured earlier today in "5 Stocks Ready to Slingshot Higher."

If you look at the chart for Apple, you'll notice that this stock recently found some buying interest right around its 50-day moving average of $573.95 a share. After buyers stepped in, shares of AAPL started to soar and trigger a near-term breakout trade once it cleared some overhead resistance levels at $588.50 to $590 a share with decent volume. That move is now pushing AAPL within range of triggering another major breakout trade that could lead to a sharp move higher.

>>4 Ways to Profit When Apple Hits $725

Market players should now look for long-biased traders in AAPL if this stock can manage to trigger a break out above some near-term overheard resistance at $618 to $620.25 a share with high-volume. Look for a sustained move or close above those levels with volume that registers near or above its three-month average action of 19.1 million shares. If we get that action soon, then AAPL has a great chance of re-testing and possibly taking out its all-time high of $644 a share.

One could look to buy AAPL off weakness and simply anticipate the breakout with a stop just below today's low of $599.65 a share. A better way to play this trade is to simply buy off strength once AAPL takes out $618 to $620.25 with decent volume, and then use a stop just below those key breakout levels. Either way, this stock will be in play if it can manage to hold a trend above those breakout levels with decent volume.

5 of 6

Select the service that is right for you!

COMPARE ALL SERVICES
Action Alerts PLUS
Try it NOW

Jim Cramer and Stephanie Link actively manage a real portfolio and reveal their money management tactics while giving advanced notice before every trade.

Product Features:
  • $2.5+ million portfolio
  • Large-cap and dividend focus
  • Intraday trade alerts from Cramer
  • Weekly roundups
TheStreet Quant Ratings
Try it NOW
Only $49.95/yr

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
  • Upgrade/downgrade alerts
Stocks Under $10
Try it NOW

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

Product Features:
  • Model portfolio
  • Stocks trading below $10
  • Intraday trade alerts
  • Weekly roundups
Dividend Stock Advisor
Try it NOW

Jim Cramer's protege, 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
  • Alerts when market news affect the portfolio
  • Bi-weekly updates with exact steps to take - BUY, HOLD, SELL
Real Money Pro
Try it NOW

All of Real Money, plus 15 more of Wall Street's sharpest minds delivering actionable trading ideas, a comprehensive look at the market, and fundamental and technical analysis.

Product Features:
  • Real Money + Doug Kass Plus 15 more Wall Street Pros
  • Intraday commentary & news
  • Ultra-actionable trading ideas
Options Profits
Try it NOW

Our options trading pros provide daily market commentary and over 100 monthly option trading ideas and strategies to help you become a well-seasoned trader.

Product Features:
  • 100+ monthly options trading ideas
  • Actionable options commentary & news
  • Real-time trading community
  • Options TV
To begin commenting right away, you can log in below using your Disqus, Facebook, Twitter, OpenID or Yahoo login credentials. Alternatively, you can post a comment as a "guest" just by entering an email address. Your use of the commenting tool is subject to multiple terms of service/use and privacy policies - see here for more details.
Submit an article to us!
DOW 16,943.81 +28.74 0.17%
S&P 500 1,967.57 +2.89 0.15%
NASDAQ 4,415.49 +19.2860 0.44%

Brokerage Partners

Rates from Bankrate.com

  • Mortgage
  • Credit Cards
  • Auto
Advertising Partners

Free Newsletters from TheStreet

My Subscriptions:

After the Bell

Before the Bell

Booyah! Newsletter

Midday Bell

TheStreet Top 10 Stories

Winners & Losers

Register for Newsletters
Top Rated Stocks Top Rated Funds Top Rated ETFs