Breakouts for Aug 17th: The first pick, MMSI, is a current Breakout feature from June 29th. The stock received analyst coverage from CL King (?) on August 5th and was rated a 'Strong Buy'. The company had reported record revenues for Q2 in late July. This has helped support the recent consolidation up to Tuesday's modest (low volume) breakout. Technicals remain firm with a 'buy' signal in the MACD trigger line and a resistance break in on-balance-volume. Slow stochastics are once again inside overbought territory implying strong bullish momentum. A move to $18.50 will trigger a double top breakout on the point-n-figure chart with resistance lurking at $25.00 but yet a price target of $31.50. I have set my price target at resistance. The second pick, IFUE, breached $1.80 resistance following a bounce off the 50-day MA and a break through the 200-day MA. The stock had released its 10Q on August 1st. Reasonable technical strength as marked by a resistance break in the MACD trigger line and on-balance-volume. The point-n-figure chart shows stiff resistance at $3.00 - but look for a substantial move once this level is breached. I have set my price target at nearest resistance. The third pick is NOOF, last featured as a Breakout for January 10th but was stopped out for a loss. The stock has since crawled back to its 200-day MA and further gains would mark the first upside break of this moving average for the year. The point-n-figure chart is neutral (although holds a bearish price target of <$0.10) and it would take a move to $10.50 to trigger a double top breakout and negate the bearish price target. The stock gained on news of the recruitment of an investment bank for future strategic options.

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"IBD" refers to Investors Business Daily

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