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TheStreet Open House

5 Stocks Ready to Break Out

Stock quotes in this article: ISIS, IRDM, ZLC, LCAV, GERN, AMAG

Market players should now look for long-biased trades in ZLC if it manages to break out above some near-term overhead resistance levels at $4.86 to $4.97 a share and then once it clears its 50-day at $5.02 a share with high volume. Look for a sustained move or close above those levels with volume that hits near or above its three-month average action of 731,154 shares. If that breakout triggers soon, then ZLC will set up to re-test or possibly take out its next major overhead resistance levels at $6 to $7.50 a share. Any move above $6 would then give ZLC a chance to re-fill its previous gap down zone from last November that started at $7.50 a share.

Traders can look to buy ZLC off any weakness to anticipate that breakout and simply use a stop that sits right around some key near-term support levels at $4.09 to $3.85 a share. One could also buy off strength once ZLC clears those breakout levels with volume and then simply use a stop that sits just below its 200-day moving average of $4.23 a share.

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