5 Stocks Poised for Breakouts
CTC Media
One more stock that's nearing a major breakout trade is CTC Media (CTCM), 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.
Select the service that is right for you!
COMPARE ALL SERVICESAction Alerts PLUS
TRY IT FREEJim 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
Dividend Stock Advisor
TRY IT FREENew! $49.95/yr
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
Stocks Under $10
TRY IT FREEDavid 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
Real Money
TRY IT FREE24/7 market commentary from Jim Cramer and 20+ veteran Wall Street gurus. Get access to the latest trading ideas on stocks, options, and ETFs as well as a real-time forum to see the pros exchanging their investment ideas.
Product Features:
- Jim Cramer + 20 Wall Street pros
- Intraday commentary & news
- Real-time trading forum
- Actionable trade ideas
Real Money Pro
TRY IT FREEAll 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 + 15 more Wall Street Pros
- Intraday commentary & news
- Ultra-actionable trading ideas
Options Profits
TRY IT FREEOur 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
