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

Acacia Research

Another stock that's starting to move within range of triggering a near-term breakout trade is Acacia Research ( ACTG), which through its operating subsidiaries acquires, develops, licenses and enforces patented technologies. This stock is off to a slow start in 2013, with shares down by 6.4%.

>>5 Stocks Poised to Pop on Bullish Earnings

If you look at the chart for Acacia Research, you'll notice that this stock has been trending sideways for the last two months, with shares moving between $22.84 on the downside and $25.48 on the upside. Shares of ACTG are now starting to push higher and move within range of both its 50-day and 200-day moving averages. That move is quickly setting up ACTG to potentially trigger a near-term breakout trade above the upper end of its recent sideways chart pattern.

Market players should now look for long-biased trades in ACTG if it manages to break out above both its 50-day at $24.57 and its 200-day at $25.69 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 702,953 shares. If that breakout hits soon, then ACTG will set up to re-test or possibly take out its next major overhead resistance level at $27 a share. Any high-volume move above $27 will then give ACTG a chance to re-fill its previous gap down zone from April that started near $30 a share.

Traders can look to buy ACTG off any weakness to anticipate that breakout and simply use a stop that sits right below some near-term support levels at $23.33 or $22.84 a share. One can also buy ACTG off strength once it clears those breakout levels with volume and then simply use a stop that sits a comfortable percentage from your entry point.
4 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
ACTG $4.60 3.80%
PKD $3.02 1.00%
RAX $23.50 -2.61%
PBYI $32.48 0.62%
SGYP $3.30 -8.33%


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