This Day On The Street
Continue to site right-arrow
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 Ready to Break Out


Another stock that looks poised to trigger a near-term breakout trade is Anadigics ( ANAD), which designs and manufactures radio frequency semiconductor solutions for cellular wireless, WiFi and infrastructure applications. This stock is off to a weak start in 2013, with shares off by 12.7%.

If you take a look at the chart for Anadigics, you'll notice that this stock has been uptrending for the last two months, with shares moving higher from its low of $1.67 to its recent high of $2.34 a share. During that uptrend, shares of ANAD have been mostly making higher lows and higher highs, which is bullish technical price action. That move has now pushed shares of ANAD within range of triggering a near-term breakout trade.

>>3 Hot Stocks to Trade (or Not)

Market players should now look for long-biased trades in ANAD if it manages to break out above some near-term overhead resistance levels at $2.23 to $2.34 a share with high volume. Look for a sustained move or close above those levels with volume that registers near or above its three-month average action of 699,164 shares. If that breakout triggers soon, then ANAD will set up to re-test or possibly take out its next major overhead resistance levels at $2.87 to $3.22 a share. Any high-volume move above those levels will then put its next major overhead resistance level at $3.44 into range for shares of ANAD.

Traders can look to buy ANAD off any weakness to anticipate that breakout and simply use a stop that sits right below its 200-day at $1.91 a share, or below some more key near-term support at $1.80 a share. One could also buy ANAD off strength once it takes out those breakout levels with volume and then simply use a stop that sits a comfortable percentage from your entry point.

3 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
Options Profits

Our options trading pros provide over 100 monthly option trading ideas and strategies to help you become a well-seasoned trader.

Product Features:
  • Actionable options commentary and news
  • Real-time trading community
To begin commenting right away, you can log in below using your Disqus, Facebook, Twitter, OpenID or Yahoo login credentials. Alternatively, you can post a comment as a "guest" just by entering an email address. Your use of the commenting tool is subject to multiple terms of service/use and privacy policies - see here for more details.
Submit an article to us!
STEC $0.00 0.00%
AMRI $17.72 0.68%
ANAD $1.37 0.74%
IPXL $46.64 -0.49%
SCTY $50.48 -1.56%


DOW 17,698.18 -77.94 -0.44%
S&P 500 2,059.69 -8.20 -0.40%
NASDAQ 4,880.2280 -20.6570 -0.42%

Partners Compare Online Brokers

Free Reports

Top Rated Stocks Top Rated Funds Top Rated ETFs