This is a stock screen similar to “Stocks That Are Breaking Down” (but just the exact opposite). A lot of these stocks are positioned for breakouts in the near future. If you are a momentum trader, you have to take a look at the charts of each of these stocks listed below. Each of the stocks below were hand-picked from a list of screen returns of more than 100 stocks/ETF’s. These are the ones that I would consider the best of the best from those returns.
Be careful though with any long trades that you make and plan on holding overnight. While I think the trades below look great and have some very nice setups to them, I am also weary, in this market environment, of holding too many breakout plays overnight, as the market’s flucuations and swift and sudden reversals makes for a difficult trading environment.
But of those listed below, keep a close eye on Mindspped Technologies (MSPD) which is on the verge of breaking out nicely on the daily chart, as well as Sourcefire (FIRE) which is attempting to break through resistance dating back to the November highs of last year. Finally – watch Allied Nevada Gold Corp (ANV) which has formed a nice short-term double bottom and could easily make a move for the mid-$45’s.
Here are the 10 Stocks with the Momentum.
