Pentair (PNR - Get Report) is another name that's seen some impressive price appreciation in the last six months. Shares of this water pump manufacturer have climbed 18% and change in the last half-year. Now the technical setup in shares of this stock points to even more upside in the second quarter of 2013.
That's because Pentair is currently forming an ascending triangle pattern, a bullish breakout trade that's formed by a horizontal resistance level above shares (in this case at $54) and uptrending support to the downside. Essentially, as PTR bounces in between those two technically-important price levels, it's getting squeezed closer and closer to a breakout above $54.
When that move through resistance happens, traders have a buy signal in this stock. Don't try to get in early on this setup. Until the breakout happens, there isn't a high probability trade here.
Check Out Our Best Services for Investors
- $2.5+ million portfolio
- Large-cap and dividend focus
- Intraday trade alerts from Cramer
Access the tool that DOMINATES the Russell 2000 and the S&P 500.
- Buy, hold, or sell recommendations for over 4,300 stocks
- Unlimited research reports on your favorite stocks
- A custom stock screener
- Model portfolio
- Stocks trading below $10
- Intraday trade alerts