Buying stocks on a technical breakout isn’t always the formula for a swift gain. That said, if we’re talking about a company whose fundamentals or growth trajectory have drastically improved for the better, perhaps following an upbeat quarterly earnings report, the shares may still be cheap despite flirting with new highs.
Whenever there’s a technical breakout and enough reason to warrant a fundamental rerating in a stock (analyst upgrades may start flowing in if new drivers start to work their way into coming quarterly results), you could have a name that’s worth picking up on the way up!
In this piece, we’ll look at three breakout plays for June that seem supported by robust and improving fundamentals.
This post originally appeared at 24/7 Wall St.