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TheStreet Open House

5 Consumer Stocks Setting Up to Charge Higher in 2013

Fortune Brands Home & Security

There's no two ways about it -- it's been a stellar year for shareholders of Fortune Brands Home & Security (FBHS - Get Report): shares of the $4.8 billion home improvement and security stock have rallied more than 74% since the first trading day in January. And now, it looks like Fortune could be headed even higher in 2013...

That's because shares are currently forming an ascending triangle pattern, a bullish setup that's formed by horizontal resistance to the upside and uptrending support below shares. As FBHS bounces in between those two lines, it's getting squeezed closer and closer to a breakout above that $30 resistance level. When the breakout happens, traders have a buy signal for this stock.

As close as FBHS is to that $30 breakout level right now, this trade looks likely to trigger this week; that's why it's worth keeping a close eye on. The 50-day moving average has acted as a pretty good proxy for support in the last two months, so it's a logical place to put a protective stop below.

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SYM TRADE IT LAST %CHG
AMTD $36.98 0.43%
FBHS $44.35 -1.33%
GRMN $47.47 -1.10%
LII $109.77 0.52%
WTW $7.56 9.60%

Markets

DOW 17,678.23 -40.31 -0.23%
S&P 500 2,056.15 -4.90 -0.24%
NASDAQ 4,863.3620 -13.1570 -0.27%

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