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Chartology: “Big Brown” Breakouts

Just as Big Brown broke out and won the Preakness technical analyst Quint Tatro sees more breakouts coming – but this time in stocks!

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Quint Tatro founder of Tatro Capital is keeping his eye on three charts. They follow.

Corning

After a strong earnings report, trends in this chart look bullish to Tatro. He says it’s a buy with a stop at $22.

I wouldn’t rush in, counters Guy Adami. Wait for a pullback.

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Terra Nitrogen

Although this stock has traded sideways for the last 12 months, Tatro now thinks it could go higher. However, stop out at $140.

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Coinstar

Tatro is also bullish on Coinstar which he thinks could prosper in a rough economy as people convert their loose change into dollars. He recommends this stock as a buy with a stop at $28.

Be careful of this stock, counters Karen Finerman. There’s a proxy fight going on.

For an closer look at the trends in Quint Tatro's analysis please watch the video.

















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Trader disclosure: On May 19, 2008, the following stocks and commodities mentioned or intended to be mentioned on CNBC’s Fast Money were owned by the Fast Money traders; Adami Owns (C), (GS), (INTC), (MSFT), (AGU), (BTU), (NUE); Najarian Owns (AAPL), (TSO), (XLF); Najarian Owns (TE) Calls; Macke Owns (DIS), (INTC), (ATVI), (EMC); Finerman Owns (GS); Finerman's Firm And Finerman Own (HD) And (HD) Puts; Finerman's Firm Owns (GLNG), (MSFT), (SUN), (TSO), (VLO); Finerman's Firm And Finerman Own (C) And (C) Leaps; Finerman's Firm Owns SPX Index Puts; Finerman's Firm Is Short (IYR), (IJR), (MDY), (SPY), (IWM)

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