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

Anacor Pharmaceuticals

One stock that's trending within range of triggering a major breakout trade is Anacor Pharmaceuticals (ANAC - Get Report), a biopharmaceutical company focused on discovering, developing and commercializing novel small-molecule therapeutics derived from its boron chemistry platform. This stock has been hammered by the bears so far in 2013, with shares off by 25%.

This company reported earnings on Thursday, beating Wall Street EPS estimates by 9 cents per share, after reporting a loss of 36 cents per share versus estimates of a loss of 44 cents per share. Revenue rose 26.15% to $3.28 million from the year-earlier period.

>>4 Biotech Stocks Under $5 to Watch

If you take a look at the chart for Anacor Pharmaceuticals, you'll see that this stock has been uptrending strong for the last few weeks, with shares marching higher from its low of $3 to its intraday high of $4.02 a share. During that uptrend, shares of ANAC have been mostly making higher lows and higher highs, which is bullish technical price action. That move is quickly pushing shares of ANAC within range of triggering a near-term breakout trade.

Traders should now look for long-biased trades in ANAC if it manages to break out above its 50-day moving average of $4.10 a share and then above its gap down day high from January at $4.39 a share with volume. Look for a sustained move or close above those levels with volume that registers near or above its three-month average action of 375,222 shares. If that breakout triggers soon, ANAC will set up to refill some of its previous gap-down zone that started near $5.50 a share. Any high-volume move above its 200-day at $5.34 and then above $5.90 will put $6.50 to $6.70 into range for shares of ANAC.

Traders can look to buy ANAC off any weakness to anticipate that breakout and simply use a stop that sits right around some key near-term support at $3.50 a share. One could also buy off strength once ANAC takes out those breakout levels with volume and then simply use a stop near $3.70 a share.
2 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
DRTX $24.16 1.73%
ATOS $0.39 0.00%
ANAC $66.11 -0.23%
JVA $3.86 0.52%
SAND $4.11 -0.24%


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