A Trio of Breakouts

Sometimes patterns show up like three peas in a pod -- but when you investigate, you may not find quite what you would expect. I know I would have never expected to see Jazz Pharmaceuticals (JAZZ), Qihoo 360 Technology (QIHU) and Rite-Aid (RAD) all show up as stocks with the potential to break out -- and, in fact, at this point all have undergone actual breakouts. The similarities among some of these is actually a bit scary.

Qihoo (QIHU) -- Daily Source: StockCharts.com View Chart » View in New Window »

Qihoo is getting a nice push above the $100 level today, and it's not looking back: The price is going north out of an ascending triangle on good volume. The money flow index (MFI) is a little soft, but I expect to see a nice rebound in that indicator today. The $102.50 area has now become support, and the stock would be worth buying on a successful retest of that level....459 more words left in this article. To read them, just click below and try Real Money FREE for 14 days.

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