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November 18, 2005
A Few Stock Breakouts
IAH - The Internet Architecture HOLDRS (IAH) broke consolidation resistance with a gap.
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FDRY - Foundry Networks broke falling flag resistance with a gap and sharp advance on good volume. Broken resistance around 13 turns into support and a pullback into this area could provide a chance to partake in the advance.
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IGT - International Gaming Tech broke falling wedge resistance with a big move on big volume. Upside volume continued strong early this week and the breakout looks valid. Watch 27 for signs of trouble.
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ITMN - Intermune broke falling flag resistance with a good November move on high volume. Watch 14 for signs of a failure.
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PBY - Pep Boys Manny did not partake in the November rally, but upside volume has been outpacing downside volume. On Balance Volume (blue line) moved to a new high yesterday and the stock is trading near trendline support. I would like to see at least a move above 13.55 before betting on a bounce.
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WDC - Western Digital broke resistance in early November and surged on big volume yesterday. There is trendline resistance near, but the hard drive group is looking good. Also checkout IMN, which remains the strongest of the group.
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Posted by Arthur B. Hill at November 18, 2005 01:38 PM