Thursday, April 21, 2011

Two More Stocks Close To Breaking Out

The market’s pop caused at least a few breakouts today (yesterday by the time of this writing) and as we get ready for Thursday’s action, keep an eye on Netflix, NFLX, and Acme Packet, APKT.


Both stocks have stellar fundamentals and have unique products showing secular growth. Perhaps the most negative aspect of these stocks is that they have had long runs.

Nonetheless, funds have been aggressively buying shares of these stocks and the stocks’ strong technical action suggests their uptrends could continue, if even for just a little longer.

Below are daily charts of these stocks. The arrows indicate their pivot points. Both stocks are cup with handle patterns.



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