Another stock that's starting to move within range of triggering a near-term breakout trade is Noodles (NDLS), which develops and operates fast casual restaurants that serves noodle and pasta dishes, soups, salads and sandwiches. This stock is off to a decent start so far in 2013, with shares up 12.2%.
If you look at the chart for Noodles, you'll notice that this stock recently pulled back from $49.15 to $38.90 a share. During that pullback, shares of NDLS were marking lower highs and lower lows, which is bearish technical price action. That said, shares of NDLS have now started to stabilize below $39 a share and the stock is starting to form a near-term uptrend. That uptrend is quickly pushing NDLS within range of triggering a near-term breakout trade.
Select the service that is right for you!COMPARE ALL SERVICES
- $2.5+ million portfolio
- Large-cap and dividend focus
- Intraday trade alerts from Cramer
- Weekly roundups
Access the tool that DOMINATES the Russell 2000 and the S&P 500.
- Buy, hold, or sell recommendations for over 4,300 stocks
- Unlimited research reports on your favorite stocks
- A custom stock screener
- Upgrade/downgrade alerts
- Diversified model portfolio of dividend stocks
- Alerts when market news affect the portfolio
- Bi-weekly updates with exact steps to take - BUY, HOLD, SELL
- Real Money + Doug Kass Plus 15 more Wall Street Pros
- Intraday commentary & news
- Ultra-actionable trading ideas
- 100+ monthly options trading ideas
- Actionable options commentary & news
- Real-time trading community
- Options TV