Breakouts for May 13th: The first pick, NFLX, had enjoyed a great 2004, but has suffered in the first half of 2005. The stock was upgraded by Pacific Growth Equities and the spark may slowly be returning. Most of Thursday's action looks vulnerable to retracement, so buying around $12.72 looks to be best play here. Technical support came on a crossover in the MACD trigger line (above the bullish zero line) and new highs in on-balance-volume. Thursday also marked a quadruple top breakout on the point-n-figure chart with a price target of $20.50. The second pick, HSP, breached $34.90 resistance on a 19% increase in Q1 earnings. Technicals had remained bullish throughout the formation of the 'handle' of a 'cup-and-handle' pattern. The MACD trigger line held above the bullish zero line, slow stochastics remained above the bullish mid-line, and on-balance-volume ended at new highs. A move to $37 will push the stock to new multi-year highs. The point-n-figure target is $51.00 but I have set my target below the psychological $50 level. The third pick, INNO, has been a frequent feature on this site. It's last visit for April 27th ended in disappointment as the stock hit its suggested stop price. The stock eventually consolidated into a pennant before today's breakout. This move came in the absence of stock related news but was supported by new near term highs in the MACD trigger line on-balance-volume. I have maintained the earlier price target as the point-n-figure chart shows an ascending triple top breakout with a price target of $8.00.

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