Breakouts
for Sep 13th:The
first pick, FCN, previously featured
as a Breakout for April
29th, and as a Gold Member pick
for
August
1st. There was no company specific news for Monday's
move. The stock continues to march its way towards resistance
at $33.00 as part of the April 28th double top breakout on
the point-n-figure chart. The latter target is $43.50 but
I am looking for a projected base move to around $38.00. A
continued solid player. The second pick, NEXM,
is a more speculative play from July
19th. The stock has managed to move one grade up in the
Investors Business Daily rankings which is a step
in the right direction at least. Monday's gains came late
in the day in the absence of company specific news - something
in the pipeline? A CEO presentation is set for September
20th.
A move to $2.25 will trigger a double top breakout on the
point-n-figure chart although the bearish price target of
$1.00 remains. The third pick is, RTSX,
most recently featured as a breakout for June 20th. Monday's gains came in the
absence of company specific news as earnings were
released in early August, but the move was enough to trigger
an ascending triple top breakout in the point-n-figure chart
with a price
target of $33.50. Watch for a confirmation break of the MACD
"buy" signal in MACD trigger line resistance. On-balance-volume
at new highs and overbought slow stochastics favors the bulls.
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