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TheStreet Open House

5 Stocks With Breakout Potential

BALTIMORE ( Stockpickr) -- Buyers flexed their muscles in yesterday's market session, pushing the broad market from medium-sized losses in the big indices at the open to medium-sized gains. If you own stocks right now, that's a very welcome sight.

>>5 Hated Earnings Stocks That You Should Love

There's a lot of headline risk baked into Mr. Market right now. Between earnings season and the battle that wages on in Congress, there is no shortage of items that could inject volatility into stock prices in October. But buyers' asserting themselves yesterday is a good sign.

Another good sign comes from the technical picture in the broad market. With another big confirmed bounce off of the S&P 500 long-term uptrend line this week, now looks like a good time to be a buyer.

>>Why I'm Sticking By Dow 55,000

I've said all year long that we're in a "buy the dips market." Well, that was a dip.

But it's not good enough to just say buy stocks in general. That's why we're taking a closer technical look at five individual names with breakout potential this week.

>>5 Rocket Stocks to Buy This Earnings Season

For the unfamiliar, technical analysis is a way for investors to quantify qualitative factors, such as investor psychology, based on a stock's price action and trends. Once the domain of cloistered trading teams on Wall Street, technicals can help top traders make consistently profitable trades and can aid fundamental investors in better planning their stock execution.

So, without further ado, let's take a look at five technical setups worth trading now.

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