Cascade Bancorp: Attractive Breakout Stock

Jul.18.06 | About: Cascade Bancorp (CACB)

Now is certainly not the time to try and chase a bottom, especially with CPI and PPI data, FOMC minutes and Mid East violence all expected to create big time volatilitly in the coming days. However, there are some opportunities in this top breakouts list worth putting on the 'ol watch list for future consideration (click to enlarge):

The best opportunity in the list that I see is Cascade Bancorp (NASDAQ:CACB) which broke out with force following an outstanding earnings report on Thursday. Technicals look for very strong as well with a nice shallow base followed by the high volume breakout to a new all time high. It's returned to a buyable range today, but it's probably best to wait to see how it reacts to the upcoming inflation data on Wed and Thurs, which would weigh heavily on the Fed's decision with future rate hikes.