Breakout Stocks – Check out Q and ECL

Finally we got the breakout stocks in the stock Quintiles Transitional Holding (Q) that I’ve been looking for – let’s see what ends up happening with this trade. The stock Ecolab (ECL) also broke to the upside, let’s see if the first profit objective can get hit today. Be sure to watch the video for all the details. Have a profitable day and I hope this video helps you in your trading.

Q – A Breakout Stock Today

We are going to look at Quintiles Transitional Holding (Q), I’ve been outlining this trade for a few days. This market’s really been consolidating. We’ve been patiently waiting for a break up through these highs right here which we got yesterday. This is one of those breakout stocks. If you recall, we were looking to buy this market at  $50.58. We broke up through that and hit $51.09 yesterday.  This morning, we have actually hit $51.44. Our initial catastrophic stop-loss on this is pretty tight. Our stop is at $49.61 and our first profit target is $51.98, a little more than 50 cents above today’s intra-day high so far. This looks nice so we’re going to keep this one on. 
ECL – Worth Your While
The other trade that I outlined for you yesterday was  Ecolab (ECL). We had a tight little inside vertical bar back at the 50, nice pullback, nice support zone. We bought this at $107.18, twenty cents above the high of Friday which was $106.98. The market rallied up to $108.06 yesterday, and we are doing a little rally. The market hasn’t been open for very long, thirteen minutes. But we’re up; the intraday high so far is $108.45. If the market can continue moving higher (I would wait another 20 minutes), and if we can continue moving a little higher to break the $108.20 goal, maybe $108.30 or 40, I would bring up that stop to today, below today’s intraday low so it’s literally a free trade.
[Tweet “Sometimes, with breakout stocks, you can get what I call a ‘free trade’.”]
We’ll look at the E-minis as they are getting close to their all-time high. Let’s just pay attention to this and  see if we can make some money on these stocks.