5 Technical Setups to Buy for August Breakouts

BALTIMORE ( Stockpickr) -- Investors are still anxious right now -- and for good reason.

With the debt ceiling debate still far from settled, the added uncertainty in the markets makes sitting on the sidelines a safer choice for risk-averse investors. One of the side effects of that is the lack of buying that I talked about briefly last week.

That investor ennui won't last forever; it's going to be difficult for market participants to outright ignore another quarter of strong earnings this year, given that the broad market continued to lurch sideways after last quarter's strong numbers.

Ultimately, it seems likely that buying pressures will take hold once some sort of debt ceiling resolution exists. In the mean time, there are still pockets of strength in stocks right now. The key to finding short-term buying opportunities is technical analysis.

Related: 5 Rocket Stocks to Buy This Week

Remember, 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.

Here's a look at this week's setups.

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