4 Stocks Breaking Out: January 25, 2017

By Harry Boxer, TheTechTrader.com

Here are four stocks breaking out and looking strong technically.

CF Industries Holdings, Inc. (CF), like many stocks in the agricultural chemicals group, ran on Tuesday, up 1.60, or 4.5%, to 36.85, on 10.5 million shares. This stock has been up three days in a row, bouncing off lateral support as well as the rising channel bottom under 32 to gain 5 points in the three days. Watch for a test of its spike high at 37.72 reached in March of last year. If it gets through that, the next line of resistance is around 39 1/2. 

Oclaro, Inc. (OCLR) appears to be setting up for a strong move, pressuring its triple top just above current levels.  On Tuesday, it gained 68 cents, or 7.3%, to 9.99, on 11.2 million shares traded. The stock intraday got right near overhead resistance above 10 near where it touched in November and December.  Having also recently broken out of a declining wedge and held support in the 8 range on several occasions, the stock looks like it wants to blow through this triple top area for a move to the channel top near 13.

Potash Corporation of Saskatchewan Inc. (POT), another stock in agricultural chemicals, was up 98 cents, or 5%, to 19.87, on 16.6 million shares traded on Tuesday.  That’s the best volume since August. The stock is up 10% since Friday when it bounced off its channel bottom near 18 and ran.  It looks like it wants to see 21, and then 22 1/2. 

Western Digital Corporation (WDC) broke out yesterday ahead of its earnings report, taking out the rising trendline of the shallow channel that it’s been in this month.  The stock gained 3.36, or 4.6%, to 76.01 on 6.3 million shares.  The channel top points to the 80-82 zone next.

See Harry’s video chart analysis on these and other stocks.

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Harry Boxer is founder of TheTechTrader.com, a live trading room featuring his stock picks, technical market analysis, and live chart presentations.