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5 Tech Stocks to Watch for Breakout Trades

Stocks in this article: OTEXBBRYSNCRACIWRDWR

ACI Worldwide

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ACI Worldwide ( ACIW) develops, markets, installs and supports a line of software products and services primarily focused on facilitating electronic payments. This stock closed up 5.6% at $51.50 in Monday's trading session.

Monday's Volume: 922,000
Three-Month Average Volume: 252,148
Volume % Change: 241%

>>5 Stocks Setting Up to Break Out

From a technical perspective, ACIW jumped higher here and broke out above some near-term overhead resistance at $49.941 with heavy upside volume. This move is coming after shares of ACIW recently dipped from $49.91 to $46 with heavy downside volume. Shares of ACIW are now trending within range of triggering a major breakout trade. That trade will hit if ACIW manages to take out its 52-week and Monday's intraday high of $51.88 with high volume.

Traders should now look for long-biased trades in ACIW as long as it's trending above that first breakout level of $49.91 or above more near-term support at $48 and then once it sustains a move or close above $51.88 with volume that's near or above 252,148 shares. If that breakout hits soon, then ACIW will set up to enter new 52-week-high territory, which is bullish technical price action. Some possible upside targets off that breakout are $55 to $60.

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