Arrow Electronics Inc. (ARW) — After a decline from $45 in October 2007, this worldwide distributor of a range of electronic components and enterprise computing products appears to have turned positive.

A triple breakout at $21 and the potential for a quadruple-top breakout through the 200-day moving average make ARW a prime candidate for a major move up.

But its recent move makes it just a bit overbought, so it would be wise to buy a half-position at current prices and then add to it on a pullback or breakout at over $22. The target is $30.

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Sam Collins is a registered, fee-based portfolio manager who may be contacted samailc@cox.net. You can also check out an archive of some of his most recent market outlooks by clicking here.