Breakout Candidates For The Week Ahead
With the S&P 500 printing new highs above the recent $1515 resistance, we expect more upside to follow into next week. Here are some long breakout setups for the week ahead 2/11/13.
Stewart Enterprises Inc. (STEI)
Weekly- Forming an ascending triangle with resistance at $8.40-$8.50
Daily- A confirmed breakout over $8.50 would suggest a long opportunity.
Citizens Republic Bancorp (CRBC)
Weekly- Weekly price forming between $17-$21
Daily- Breakout over $20.80 would suggest a long opportunity.
IntraLinks Holdings (IL)
Weekly-$7.00 level has acted as support and resistance for over a year.
Daily- Ascending triangle formation with $6.80 resistance. Breakout above would suggest a long opportunity.
First Midwest Bancorp (FMBI)
Weekly- Multiple year resistance at $13.50
Daily- Price failed to hold ascending triangle formation, but was bought up rather quickly. Near term resistance at $13. A breakout over $13.50 would suggest a long opportunity.