NEW YORK (Real Money) -- It's a three-day weekend, so why not take some time to check out three daily charts looking to break through resistance and power higher next week. I would put these in a more aggressive group though, so this is one time I'd rather take smaller positions if these trigger and try to let them have a little more room to run.
Vista Outdoor (VSTO) is a newer issue here only have about four months of trading under its belt. The stock took off like a rocket running from $31 all the way up to $46.50 in less than the first month of trading. Since that time, it has consolidated in a very wide channel testing that high once in April. Now, we are testing that high again after a false breakdown in May.
Given that it is a newer issue and seeing that May's false breakdown is a big reason why I would look at a smaller size position here with more room for a stop. While we haven't quite broken out yet, I'm optimistic given the new highs in the RSI here and the strong stochastics. The change in money flow has been green for several days, even through the false breakdown. The upside seems modest in the $50-52 range but against a stop of $43.75 this wouldn't be a bad risk-reward scenario for a bullish play.
Veeva Systems (VEEV) is trying to push through similar resistance here and fill a gap. This is a textbook, and very pretty, an ascending triangle with the stock right at resistance. If this one goes back under $27.50 for two days in a row, then the triangle becomes useless.