If the base is long enough, buying breakouts can be very profitable. However, the market doesn’t always make things as “easy” as they have been for much of the last 2 years. Many breakouts, and up trending stocks, can give you an even better entry point- the pullback.
Ideally, the pullback will occur during a broad market correction and will happen on significantly lighter volume. (Like today!) Using point and figure charts is can be easier to identify clean breakouts and pullback levels that offer good entry points. Combining this kind of discipline with the best techno-fundamentally strong stocks- Magnet Stocks- you can be involved with only the best companies at the right levels.
Today I am looking at three stocks with this idea in mind, IDT Corporation (IDT), Coffee Holding Co., Inc. (JVA), and TOR Minerals Int’l, Inc. (TORM). Watch the video below.
*DISCLOSURE: Long IDT, JVA, TORM
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