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TheStreet Open House

5 Consumer Stocks Ready to Push Higher This Week

Stocks in this article: VSIRIFBHSBPOPWHR

Whirlpool

Appliance-maker Whirlpool (WHR) has managed to stay arm's-length ahead of the S&P's already impressive climb this year, up more than 11% since the first trading session in January. That's even after yesterday's 5% decline in the $9 billion dishwasher and dryer giant. Now shares look well-positioned to move even higher in April.

>>5 Dividend Stocks Ready to Pay You More

Whirlpool is currently forming an ascending triangle, a technical setup that's formed by horizontal resistance above shares (in this case at $120) and uptrending support below shares. Essentially, as WHR bounces in between those two technical levels, it's getting squeezed closer and closer to a breakout above that $120 mark. When that breakout happens, traders have another buy signal in this stock.

It's critical to wait for resistance to get taken out before jumping into a trade in WHR -- $120 has acted as a ceiling on the last three attempts that buyers have made to move higher. When the breakout happens, I'd recommend keeping a protective stop at the 50-day moving average.

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