10 Tech Stocks Poised to Break Out

by Daniel Putnam | February 13, 2012 7:30 am

The tech sector currently offers an abundance of charts that should capture the attention of those inclined to technical analysis. In fact, 10 stocks in the large- and mid-cap range are on the verge of breaking past resistance and moving out to new highs.

While this process may be delayed by broader market weakness in the days and weeks ahead, this group of stocks is bound to provide its share of winners in due time — especially if the Select Sector SPDR Technology ETF (NYSE:XLK[1]) continues to make new highs. A handful of these are stocks that we’ve highlighted in past articles and that have not yet broken out. But they continue to print compelling formations and are, therefore, worthy of ongoing attention.

Here’s the list of stocks to watch, along with the key levels to track and the chart for each:

eBay (NASDAQ:EBAY[2])
Friday’s close: $33.03
Breakout level: $34 (trendline)
Percent move needed for breakout: 2.9%

[3]

 

Priceline.com (NASDAQ:PCLN[4])
Friday’s close: $545.04
Breakout level: $548 (trendline)
Percent move needed for breakout: 0.5%

[5]

 

ASML Holding (NASDAQ:ASML[6])
Friday’s close: $45.25
Breakout level: $45.92 (52-week high)
Percent move needed for breakout: 1.5%

[7]

 

Motorola Solutions (NYSE:MSI[8])
Friday’s close: $47.35
Breakout level: $48.05 (52-week high)
Percent move needed for breakout: 1.5%

[9]

 

Amdocs (NYSE:DOX[10])
Friday’s close: $30.35
Breakout level: $31.80 (trendline)
Percent move needed for breakout: 4.8%

[11]

 

TIBCO Software (NASDAQ:TIBX[12])
Friday’s close: $27.89
Breakout level: $31.45 (52-week high)
Percent move needed for breakout: 12.8%

[13]

 

Plantronics (NYSE:PLT[14])
Friday’s close: $37.40
Breakout level: $39.52 (52-week high)
Percent move needed for breakout: 5.7%

[15]

 

EZchip Semiconductor (NASDAQ:EZCH[16])
Friday’s close: $37.06
Breakout level: $37.85 (52-week high)
Percent move needed for breakout: 2.1%

[17]

 

Lattice Semiconductor (NASDAQ:LSCC[18])
Friday’s close: $6.81
Breakout level: $7.12 (trendline)
Percent move needed for breakout: 4.6%

[19]

 

Micros Systems (NASDAQ:MCRS[20])
Friday’s close: $51.68
Breakout level: $53.36
Percent move needed for breakout: 3.3%

[21]

 

And for extra credit, also take a moment to look at the charts of Check Point Software Technologies (NASDAQ:CHKP[22]), which is 7.5% away from breaking out; Maxim Integrated Products (NASDAQ:MXIM[23]), 4.6%; Insight Enterprises (NASDAQ:NSIT[24]), 6%; ARM Holdings (NASDAQ:ARMH[25]), 19.7%; and SXC Health Solutions (NASDAQ:SXCI[26]), 8%.

Source URL: https://investorplace.com/2012/02/10-tech-stocks-poised-to-break-out/

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