Breakouts for July 29th: There were a number of breakout picks which made follow on moves, some on heavier volume. These include: ACL, AMHC, ARTC, AIZ, AVX, WEL, CL, FCN, GENZ, LFB, MAC, NUVA, SCH, and URS. But for Friday I have featured three Gold Member picks, two of which are on the verge of breakouts, and one which closed over resistance on heavier volume. The first pick, NOVA, is a pending 6-month breakout play. Earnings are scheduled for next week, but price looks set to go off before then. There has been a modest increase in buying interest in this relatively thinly traded stock supported by a breakout in the MACD trigger line and rising on-balance-volume. The point-n-figure chart still shows a double top breakout from July 1st with an upside target of $14.25. The stock first featured as a Gold Member pick on July 5th. The second pick, ENS, is another pending breakout play which featured as a Gold Member pick back on June 27th. The stock reported Q4 earnings in June off which the stock still looks to be riding the good will. A push over $15.50 will put this into rarified air of a new all-time high. Watch on-balance-volume for leads as this will likely breakout first. The MACD trigger 'sell' is weak given the trigger line is mostly flat. Strong slow stochastics further weakens the bearish nature of the MACD trigger line sell. I have set a target drawn from a projected base move. The third pick, ORBK, did break resistance Thursday as it prepares for its earnings release on Monday. If you don't like shocks it may be prudent to sit this one out until the figures are in but if you are looking to beat the rush then GTC buy orders down to $24.16 may be sufficient to get into the game. Support for the breakout can be found from a similar move in on-balance-volume, and the pending breakout in the MACD trigger line. The point-n-figure chart will show a double top breakout on a move to $25.00, although the price target of $26.50 should be ignored in this instance. I am looking for a move to secondary resistance at $33 (primary resistance can be found at $28.00). It featured as a Gold Member play on July 11th.

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