The trend is stocks are moving higher and as the saying goes the trend is your friend. When a stock breaks out from resistance, the initial push is usually strong, then the momentum fades but as long as the stock stays above that last resistance it is one you want to own.
On Friday we saw Ford “F” break resistance and move right to the next level of resistance at $15.42 before stopping. The stock is up in pre-market but not above the next spot.
My top four breakout picks for today are:
1) General Electric (NYSE:GE): I have been watching this one for a while and have not traded it, but with a move above $20.38 there is only minor resistance to $21.50
2) CROCS (NASDAQ:CROX): Oh I hate the look of these ridiculous shoes, but the look of the chart is quite a bit different. On Friday the stock got above $18.20 but was unable to hold but that is most likely just the opportunity we need to buy this stock cheap. $20 is easily within reach.
3) Citrix (NASDAQ:CTXS): This one has already broken out of major daily and weekly resistance, I am an aggressive buyer on pullbacks into $73 range.
4) JP Morgan (NYSE:JPM): One of the better looking bank names any print above $47 and $48.50 is in the cards.Personally I like to see the breakout happen first, then wait for a pullback with which to enter. Here are four stocks that can be actioned today in different sectors. Have a plan for your trading and stick to that plan.
Disclosure: I have no positions in any stocks mentioned, and no plans to initiate any positions within the next 72 hours.