Here are five stocks to watch, most of them in bullish ascending-triangle patterns that are putting pressure on resistance.
Mentor Graphics MENT , with higher lows pressing toward 17.50, is consolidating the up move from the 13.50 area in November. A move above 17.55 would signal a breakout, with a next target of 18.
Anadigics ANAD �is pressing up against the 2.75 resistance line, consolidating its big 150% move from 1.14 in November. A break of this level would lead to our next target of 3.
Sprint Nextel S �is in a longer rising-triangle formation, moving relatively sideways for the past six months after its big move from the 2.30 area in the summer. Watch for a move above 6 to break the stock out.
M&T Bank MTB �has edged above its resistance line at 105 after a four-month consolidation. The stock is at multi-year highs going back to 2007.
Supervalu SVU �has a somewhat different pattern than the others. The stock has been flagging after a steep up move from 2.50 in January, and could test its rising trend line in the 4.50 area.
See charts illustrating the technical patterns on these stocks.
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