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Breakouts
for April 26th: The first pick, ILSE, recently featured on March 23rd. The follow through from this breakout consolidated into a small flag. The flag provides an opportunity to raise the stop price to protect the earlier position. Technicals are bullish, although the MACD is in consolidation mode. The point-n-figure chart holds to the March 22nd Triple Top Breakout with a price target of $26. Earnings are scheduled for April 27th at 11:00 am ET. The
second pick, VICR, featured a couple of weeks back, but Tuesday's rise, driven by earnings, helped define a new breakout. Stops should be raised to protect the earlier position as the rally from $9.63 is looking extended and in need of a consolisation (i.e. a reversal of at least $3 from point-n-figure highs). Technicals remain firm although on-balance-volume is some way off from confirming new price highs. The third
pick, CCI,
is a Subscriber play from April 6th. The small handle ($30.50-$31.00) broke upside on heavier volume in the run up to Thursday's earnings. Strong earnings should easily dispatch $32.34 resistance. Watch for a leading breakout in on-balance-volume helped by overbought slow stochastics. The MACD is bullish, but unspectacular (i.e. no new reaction highs). The point-n-figure chart holds to a target of $56.50. A move to $33 would register a double top breakout.
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