{"id":12328,"date":"2024-11-17T00:03:12","date_gmt":"2024-11-17T00:03:12","guid":{"rendered":"https:\/\/businesstriumphs.com\/index.php\/2024\/11\/17\/3-breakouts-ready-for-massive-climbs\/"},"modified":"2024-11-17T00:03:12","modified_gmt":"2024-11-17T00:03:12","slug":"3-breakouts-ready-for-massive-climbs","status":"publish","type":"post","link":"https:\/\/businesstriumphs.com\/index.php\/2024\/11\/17\/3-breakouts-ready-for-massive-climbs\/","title":{"rendered":"3 Breakouts Ready for Massive Climbs!"},"content":{"rendered":"
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As the secular bull market takes a short-term pause, now is the time to research tremendous opportunities that lie ahead. I\u2019ve looked at more than a thousand charts and wanted to point out 3 in particular that I see heading much, much higher as we close out 2024 and move into a brand new year. There are tons of companies that have been regularly setting 52-week and all-time highs. Most of those are very overbought and carry more short-term risk. I want to instead focus on stocks that have been basing for an extended period of time and have just made a breakout.<\/p>\n

Stock 1 \u2013 Amazon.com (AMZN)<\/h2>\n

I love this breakout. We\u2019ve actually had two breakouts. The first was the move above the 190 area, stopping at 200. Then more recently, AMZN cleared 200 before profit taking kicked in this past week with options expiration. We\u2019re now back close to that 200 support level. Here\u2019s the 10-year weekly chart:<\/p>\n

The current setup looks eerily similar to the setup heading into 2020. I trust this current breakout, considering that AMZN\u2019s top in 2021 started a lengthy consolidation\/basing period \u2013 similar to a cup formation. If we use that cup as a measurement stick for the potential rally ahead in AMZN shares, we\u2019d be looking at 320. I\u2019d take that 60% gain.<\/p>\n

Stock 2 \u2013 Fortinet, Inc. (FTNT)<\/h2>\n

FTNT is another stock that has an excellent long-term track record, but struggled during a lengthy consolidation\/basing period since late-2021:<\/p>\n<\/p>\n

It\u2019s important to point out that software ($DJUSSW) just broke out and it\u2019s been the 3rd best industry group since the current secular bull market was confirmed in April 2013, rising 774% over the past 11 1\/2 years. The only two industry groups stronger have been computer hardware ($DJUSCR, +1019%) and semiconductors ($DJUSSC, +1488%). This compares to a 266% jump in the S&P 500. I\u2019ll take a leading stock in a leading industry group, both of which are breaking out, ANY TIME.<\/p>\n

Stock 3 \u2013 Home Depot, Inc. (HD)<\/h2>\n

Yep, that\u2019s 2 out of 3 Dow Jones component stocks, joining AMZN. I love the breakout here. The patterns don\u2019t get any nicer and more bullish than this one. HD topped in late-2021, just like both AMZN and FTNT, before proceeding to print a beautiful, symmetrical, rounded cup:<\/p>\n<\/p>\n

I see HD having a strong finish to 2024 and a very solid 2025. Throw in HD\u2019s 2.2% dividend yield, a dividend that\u2019s risen every year since the turn of the century, and I believe there are the makings of a \u201csuper stock\u201d in the years ahead. Steady grower with rising income to boot! Yes please!<\/p>\n

I see the Dow Jones Industrial Average being very strong for the foreseeable future, partly due to the AMZN and HD outlooks, but I still favor small- and mid-caps BIG TIME. I\u2019m hosting a webinar later this morning at 11:00am ET, \u201cCapitalizing on Small- and Mid-Cap Strength\u201d<\/a>. It\u2019s completely free (no credit card required) to the public, but you do need to register for the event. You can follow the link to do so and to learn more information about the event. If you can\u2019t make the 11am webinar, absolutely no worries. All of those who register will gain access to the recording, including those registering after the event has ended. So be sure to REGISTER NOW to find out why small and mid caps are poised to EXPLODE!<\/p>\n

Also, my latest Weekly Market Recap video, \u201cMonthly Options and Negative Divergences Hammer the Bulls!\u201d has been published on YouTube. You can watch it HERE<\/a>.<\/p>\n

Happy trading!<\/p>\n

Tom<\/p>\n<\/div>\n","protected":false},"excerpt":{"rendered":"

As the secular bull market takes a short-term pause, now is the time to research tremendous opportunities that lie ahead. I\u2019ve looked at more than a thousand charts and wanted to point out 3 in particular that I see heading much, much higher as we close out 2024 and move into a brand new year. […]<\/p>\n","protected":false},"author":0,"featured_media":12329,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[2],"tags":[],"class_list":["post-12328","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-stock"],"_links":{"self":[{"href":"https:\/\/businesstriumphs.com\/index.php\/wp-json\/wp\/v2\/posts\/12328","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/businesstriumphs.com\/index.php\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/businesstriumphs.com\/index.php\/wp-json\/wp\/v2\/types\/post"}],"replies":[{"embeddable":true,"href":"https:\/\/businesstriumphs.com\/index.php\/wp-json\/wp\/v2\/comments?post=12328"}],"version-history":[{"count":0,"href":"https:\/\/businesstriumphs.com\/index.php\/wp-json\/wp\/v2\/posts\/12328\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/businesstriumphs.com\/index.php\/wp-json\/wp\/v2\/media\/12329"}],"wp:attachment":[{"href":"https:\/\/businesstriumphs.com\/index.php\/wp-json\/wp\/v2\/media?parent=12328"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/businesstriumphs.com\/index.php\/wp-json\/wp\/v2\/categories?post=12328"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/businesstriumphs.com\/index.php\/wp-json\/wp\/v2\/tags?post=12328"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}