10 Industrial Stocks Poised to Break Out

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10 Industrial Stocks Poised to Break Out

As the broader market rally continues to bring individual stocks near their highs of earlier last summer, the list of potential breakout candidates grows. The energy and technology sectors both have been fertile ground in which to find stocks on the verge of breaking out to new high ground, and now the industrial sector is setting up as a source of opportunity — providing, of course, that the broader market can hold up.

One way to play this is simply to use the Select Sector Industrial SPDR (NYSE:XLI) ETF, which closed Wednesday 5.9% short of its 52-week high of $38.98. But for those who prefer the higher-beta potential of individual stocks, here are a number of names to consider:

FedEx

fdx 300x173 10 Industrial Stocks Poised to Break Out
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NYSE:FDX

Wednesday’s close: $94.15

Breakout level: $98.66

Percent move needed for breakout: 4.8%

 

This is the fourth time in two years that FDX has entered the $95-$100 range. While a break above $98.66 still would leave the stock well short of its all-time high above $120, set in 2007, note that United Parcel Service (NYSE:UPS) already has moved out to a new high off of a similar formation as FDX. This bodes well for FedEx if the broader market holds up.

Canadian National Railway

cni 300x173 10 Industrial Stocks Poised to Break Out
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NYSE:CNI

Wednesday’s close: $77.53

Breakout level: $81.26

Percent move needed for breakout: 4.8%

 

Similar to FedEx, a number of CNI’s industry peers have broken out to new highs in recent months, among them Union Pacific (NYSE:UNP), Canadian Pacific Railway (NYSE:CP) and Kansas City Southern (NYSE:KSU).

Caterpillar

cat 300x173 10 Industrial Stocks Poised to Break Out
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NYSE:CAT

Wednesday’s close: $112.53

Breakout level: $116.55

Percent move needed for breakout: 3.6%

 

 BorgWarner

bwa 300x173 10 Industrial Stocks Poised to Break Out
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NYSE:BWA

Wednesday’s close: $80.58

Breakout level: $82.28

Percent move needed for breakout: 2.1%

 

 Fiserv

fisv 300x173 10 Industrial Stocks Poised to Break Out
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NASDAQ:FISV

Wednesday’s close: $64.65

Breakout level: $66.06

Percent move needed for breakout: 2.2%

 


Article printed from InvestorPlace Media, http://investorplace.com/2012/02/10-industrial-stock-charts-to-watch-fdx-cni-cat-bwa-fisv-px-hei-ayi-cr-exp/.

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