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4 Stocks Triggering Breakout Trades

CaesarStone Sdot-Yam

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CaesarStone Sdot-Yam ( CSTE) manufactures engineered quartz surfaces used in both residential and commercial buildings. This stock closed up 3.8% at $42.69 in Wednesday's trading session.

Wednesday's Volume: 305,000
Three-Month Average Volume: 270,314
Volume % Change: 50%

>>5 Stocks With Big Insider Buying

From a technical perspective, CSTE bounced sharply higher here right above some near-term support at $40.04 with decent upside volume. This stock has been trending sideways for the last few weeks, with shares moving between $44.70 on the upside and $40.04 on the downside. Prior to this sideways action, shares of CSTE were uptrending strong for the last four months, with the stock exploding higher from its low of $21.60 to its all-time high at $44.70. Shares of CSTE now look ready to trigger a near-term breakout trade above the upper end of its recent sideways trading price action. That breakout will hit if CSTE manages to clear $44 to its all-time high at $44.70 with high volume.

Traders should now look for long-biased trades in CSTE as long as it's trending above $40.04 and then once it sustains a move or close above those breakout levels with volume that's near or above 270,314 shares. If that breakout hits soon, then CSTE will set up to enter new all-time-high territory, which is bullish technical price action. Some possible upside targets off that breakout are $50 to $60.

To see more stocks rising on unusual volume, check out the Stocks Rising on Unusual Volume portfolio on Stockpickr.

-- Written by Roberto Pedone in Delafield, Wis.


Follow Stockpickr on Twitter and become a fan on Facebook.

At the time of publication, author had no positions in stocks mentioned.

Roberto Pedone, based out of Delafield, Wis., is an independent trader who focuses on technical analysis for small- and large-cap stocks, options, futures, commodities and currencies. Roberto studied international business at the Milwaukee School of Engineering, and he spent a year overseas studying business in Lubeck, Germany. His work has appeared on financial outlets including and . You can follow Pedone on Twitter at or @zerosum24.
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