247Bull Trading Portfolio: Upside breakout triggers buy signal for Kimco Realty Corp.

The 247Bull Trading Portfolio is dedicated to taking advantage of trading opportunities that arise within the markets. The current focus is on those companies that are breaking out from a period of consolidation, and this article provides an update on existing trades, new trades, and possible future trades.

Existing trades

On 22 January 247Bull went long Kimberly-Clark at $87.25 as it broke above its October 2012 high. Since its initial pullback (which did not violate the initial stop loss of $85.00), the stock has begun a nice uptrend.

We remain long KMB but have moved the stop loss up to $87.50.

A 1 year daily chart of Kimberly-Clark Corporation (NYSE:KMB) (Click on the chart for a larger version)

A 1 year daily chart of Kimberly-Clark Corporation (NYSE:KMB) (Click on the chart for a larger version)

Chart courtesy of stockcharts.com

On 25 January 247Bull went long HCP at $46.94 after it breached previous overhead resistance. HCP is now experiencing a period of congestion, however it remains above the stop loss at $45.90 and we remain long the stock.

A 1 year daily chart of HCP, Inc. (NYSE:HCP) (Click on the chart for a larger version)

A 1 year daily chart of HCP, Inc. (NYSE:HCP) (Click on the chart for a larger version)

Chart courtesy of stockcharts.com

New trades

On 1 February one of the stocks on our watch list, Kimco Realty Corp., broke out above previous resistance (upper blue line) and we went long at $21.00. Since then KIM has continued to rally and we remain long with a stop loss set at $20.55.

A 1 year daily chart of Kimco Realty Corp. (NYSE:KIM) (Click on the chart for a larger version)

A 1 year daily chart of Kimco Realty Corp. (NYSE:KIM) (Click on the chart for a larger version)

Chart courtesy of stockcharts.com

Possible future trades

We continue to watch M&T Bank Corp. which is once again flirting with overhead resistance but remains in its consolidation pattern.

A 1 year daily chart of M&T Bank Corp. (NYSE:MTB) (Click on the chart for a larger version)

A 1 year daily chart of M&T Bank Corp. (NYSE:MTB) (Click on the chart for a larger version)

Chart courtesy of stockcharts.com

We will go long MTB on a decisive upside breakout.

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