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 Breakout Candidates to Trade

Select Medical

One name that's just starting to trigger a big breakout here is Select Medical (SEM - Get Report), which provides long term acute care hospital services and inpatient acute rehabilitative hospital care and provides physical, occupational and speech rehabilitation service. This stock has been uptrending strong so far in 2012, with shares up by 37%.

If you look at the chart for Select Medical, you'll notice that this tock has been trending sideways for the last two months and change, with shares moving between $10 on the downside and $11.61 on the upside. Just today shares of SEM have started to blast higher and take out the high end of its recent trading range. This move has been accompanied by decent overall volume.

Market players should now look for long-biased trades in SEM as long as it's trending above some near-term overhead resistance at $11.61 a share, and then once it breaks out above more overhead resistance at $12.50 a share with volume. Look for a sustained move or close above those breakout levels with volume that hits near or above its three-month average action of 442,614 shares. If that breakout triggers soon, then SEM will set up to re-test or possibly take out its next major overhead resistance level at $14.89 a share.

One can look to buy SEM off any weakness to anticipate that breakout and simply use a stop that sits just below its 50-day moving average of $10.87 a share. Traders can also buy off strength once SEM clears $11.61 to $12.50 a share with high volume and then use a stop just below $11 a share.
4 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
MSPD $0.00 0.00%
RATE $8.77 -2.88%
SLCA $23.44 -6.01%
SEM $13.33 0.68%
TBI $18.75 -1.83%


Chart of I:DJI
DOW 17,750.91 -140.25 -0.78%
S&P 500 2,063.37 -18.06 -0.87%
NASDAQ 4,763.2240 -54.37 -1.13%

Free Reports

Top Rated Stocks Top Rated Funds Top Rated ETFs