Schwab Seems Set to Break Out

Shares of Charles Schwab (SCHW) have been in consolidation mode for the past three weeks. Shortly after the stock's powerful earnings-inspired breakout back on Oct. 15, Schwab stalled. The rally off the October lows, that had carried the stock 17% higher, needed a rest. The sideways consolidation continues as a new month begins, but the pattern appears headed for an upside resolution.

The October low near the $20.50 area was the fourth straight monthly low at this major support zone. When the markets began to turn higher on Oct. 10, Schwab was in the process of leaving behind an important bottom....186 more words left in this article. To read them, just click below and try Real Money FREE for 14 days.

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