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5 Stocks Ready to Break Out This Month

Rockwood Holdings

We're seeing the exact same trading setup in shares of Rockwood Holdings ( ROC) right now, only stretched out much longer term. ROC has actually spent most of 2013 stuck consolidating in an ascending triangle pattern of its own, with resistance in place at $68. Despite some attempts at pushing through that price level back in late September, ROC is still in the pattern.

That makes $68 the price level to watch in November.

>>5 Rocket Stocks to Buy in November

Momentum, measured by 14-day RSI, adds some extra evidence that this latest bounce in ROC will hold. The 30 level in RSI has acted as a momentum floor over the course of this setup, and it's getting touched again. Expect a move through 70 on that momentum gauge to precede a breakout.

If you decide to be a buyer when that happens, I'd recommend keeping a stop on the other side of the 200-day moving average.
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SYM TRADE IT LAST %CHG
ROC $79.20 0.00%
COST $136.39 -0.07%
HTGC $11.48 0.53%
LGF $36.92 -0.97%
MSFT $44.40 -0.10%

Markets

DOW 17,730.11 -27.80 -0.16%
S&P 500 2,076.78 -0.64 -0.03%
NASDAQ 5,009.2140 -3.9090 -0.08%

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