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 Poised for Breakouts

CTC Media

One more stock that's nearing a major breakout trade is CTC Media (CTCM - Get Report), which operates three Russian television networks, offering entertainment programming. This stock has been starting to heat up over the past three months, with shares up around 25%.

If you look at the chart for CTC Media, you'll notice that this stock has been uptrending strong for the past two months, with shares soaring from a low of $7.08 to its recent high of $9.81 a share. During that uptrend, shares of CTCM have been consistently making higher lows and higher highs, which is bullish technical price action. That move has now pushed CTCM within range of triggering a major near-term breakout trade.

Traders should now look for long-biased trades in CTCM once it manages to clear some near-term overhead resistance at $9.81 a share with high volume. Look for a sustained move or close above $9.81 with volume that hits near or above its three-month average action of 468,889 shares. If that breakout triggers soon, then CTCM will have a great chance of re-testing or possibly taking out its next major overhead resistance levels at $11.40 to $11.79 a share.

One could look to buy CTCM off any weakness to anticipate that breakout, and simply use a stop that sits right below its 200-day at $9.25 a share, or around some near-term support at $8.96 a share. One could also buy off strength once CTCM clears $9.81 with volume, and then use a stop right below its 200-day.

To see more breakout candidates, check out the Breakout Stocks of the Week portfolio on Stockpickr.

-- Written by Roberto Pedone in Winderemere, Fla.


Follow Stockpickr on Twitter and become a fan on Facebook.
At the time of publication, author had no positions in stocks mentioned.

Roberto Pedone, based out of Windermere, Fla., is an independent trader who focuses on stocks, options, futures, commodities and currencies. He is also an outside contributor to and maintains the website, which he sold to Blue Wave Advisors in 2008. Roberto studied International Business at The Milwaukee School of Engineering, and he spent a year overseas studying business in Lubeck, Germany.
6 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
ALXA $0.64 0.00%
CTCM $1.97 0.00%
QTM $0.47 0.00%
SIMO $39.33 0.00%
SUPN $17.17 0.00%


Chart of I:DJI
DOW 17,830.76 -210.79 -1.17%
S&P 500 2,075.81 -19.34 -0.92%
NASDAQ 4,805.2910 -57.85 -1.19%

Free Reports

Top Rated Stocks Top Rated Funds Top Rated ETFs