Breakouts

Free pick for May 21st: Exide Technologies (XIDE) got an extra lift after hours on news it would supply batteries for the Peps Boys. The regular trading break of $15.54 probably reflected some whisper buying in this regard. The stock originally featured as a Subscriber pick in February and it has been one of the few picks not to disappoint (unfortunately, not one of many). The stock sports an excellent accumulation trend in on-balance-volume and enjoyed a fresh MACD trigger 'buy'. If there is a disappointment it is the sharp drop in bull trend strength (ADX), from highs of 50 down to the barely bullish 23; further weakness will likely lead to a failed breakout. The point-n-figure chart shows a target of $23.50, but it will take a touch of $16 to generate a double top breakout. I have opted for a measured move target.

Fallond Breakouts

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