September 04, 2012 at 10:37 am | | Comments 0

4 High-Level Breakout Candidates

With the indexes sitting not far from 52-week highs, a number of individual names are also pressuring longer-term resistance zones.  I wanted to share a few breakout candidates I’m watching which belong on the radar in the days and weeks ahead.

AIG is acting well with a high Cup and Handle pattern, and is actually attempting a breakout today.  A close above $35 is needed to confirm a breakout.

Why I Use TC2000

MKC has created a high-level base which almost resembles a saucer pattern.  A push through $62 would constitute a solid breakout. This stock trades slightly lighter volume than the others.

Why I Use TC2000

RYL continues to exhibit strength, and has spent a few weeks challenging resistance.  A breakout takes place through $27.25.

Why I Use TC2000

The $56 level has posed as multi-month resistance for CRI, and although the stock has pushed past it a few times intraday it has yet to close above it.  That’s a well-defined level to keep an eye on which if cleared, would indicate an exit from this wide channel.

Why I Use TC2000

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Jeff White
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