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%

Kenny ebay 2 10 10 Tech Stocks Poised to Break Out[3]

 

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

Kenny pcln 2 10 10 Tech Stocks Poised to Break Out[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%

Kenny asml 2 10 10 Tech Stocks Poised to Break Out[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%

Kenny msi 2 10 10 Tech Stocks Poised to Break Out[9]

 

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

Kenny dox 2 10 10 Tech Stocks Poised to Break Out[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%

Kenny tibx 2 10 10 Tech Stocks Poised to Break Out[13]

 

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

Kenny plt 2 10 10 Tech Stocks Poised to Break Out[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%

Kenny ezch 2 10 10 Tech Stocks Poised to Break Out[17]

 

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

Kenny lscc 2 10 10 Tech Stocks Poised to Break Out[19]

 

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

Kenny mcrs 2 10 10 Tech Stocks Poised to Break Out[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%.

Endnotes:
  1. XLK: http://studio-5.financialcontent.com/investplace/quote?Symbol=XLK
  2. EBAY: http://studio-5.financialcontent.com/investplace/quote?Symbol=EBAY
  3. [Image]: http://investorplace.com/wp-content/uploads/2012/02/Kenny-ebay-2-10.gif
  4. PCLN: http://studio-5.financialcontent.com/investplace/quote?Symbol=PCLN
  5. [Image]: http://investorplace.com/wp-content/uploads/2012/02/Kenny-pcln-2-10.gif
  6. ASML: http://studio-5.financialcontent.com/investplace/quote?Symbol=ASML
  7. [Image]: http://investorplace.com/wp-content/uploads/2012/02/Kenny-asml-2-10.gif
  8. MSI: http://studio-5.financialcontent.com/investplace/quote?Symbol=MSI
  9. [Image]: http://investorplace.com/wp-content/uploads/2012/02/Kenny-msi-2-10.gif
  10. DOX: http://studio-5.financialcontent.com/investplace/quote?Symbol=DOX
  11. [Image]: http://investorplace.com/wp-content/uploads/2012/02/Kenny-dox-2-10.gif
  12. TIBX: http://studio-5.financialcontent.com/investplace/quote?Symbol=TIBX
  13. [Image]: http://investorplace.com/wp-content/uploads/2012/02/Kenny-tibx-2-10.gif
  14. PLT: http://studio-5.financialcontent.com/investplace/quote?Symbol=PLT
  15. [Image]: http://investorplace.com/wp-content/uploads/2012/02/Kenny-plt-2-10.gif
  16. EZCH: http://studio-5.financialcontent.com/investplace/quote?Symbol=EZCH
  17. [Image]: http://investorplace.com/wp-content/uploads/2012/02/Kenny-ezch-2-10.gif
  18. LSCC: http://studio-5.financialcontent.com/investplace/quote?Symbol=LSCC
  19. [Image]: http://investorplace.com/wp-content/uploads/2012/02/Kenny-lscc-2-10.gif
  20. MCRS: http://studio-5.financialcontent.com/investplace/quote?Symbol=MCRS
  21. [Image]: http://investorplace.com/wp-content/uploads/2012/02/Kenny-mcrs-2-10.gif
  22. CHKP: http://studio-5.financialcontent.com/investplace/quote?Symbol=CHKP
  23. MXIM: http://studio-5.financialcontent.com/investplace/quote?Symbol=MXIM
  24. NSIT: http://studio-5.financialcontent.com/investplace/quote?Symbol=NSIT
  25. ARMH: http://studio-5.financialcontent.com/investplace/quote?Symbol=ARMH
  26. SXCI: http://studio-5.financialcontent.com/investplace/quote?Symbol=SXCI

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