Bullish Breakout Stocks: $SSNI, $CROX

BNN Top Picks from Mike Newton: Home Depot, Luxottica Group, Vanguard FTSE Developed Europe All Cap Index ETF

Mike Newton, Director, Wealth Management & Portfolio Manager, Scotia Wealth Management
Focus: North American Large Caps & ETFs
MARKET OUTLOOK:
It is at this time of the year when I go on a strict diet of avoiding the bountiful “Outlook / Forecast / 2016 Top Picks” buffets offered everywhere you look. No one ever has a precise view on where we are going to finish and when. The turning of the calendar from one year to the next has zero influence on great companies. Long-term investors should bypass this market timing discussion and stay long superb companies with positive trends. In my world, price is the ultimate arbiter of truth. So, until the current consensus trades start failing, stay with them. And when they begin to falter, have a playbook for the next non-consensus trade and reposition accordingly.
Top Picks:

Home Depot (HD.N -1.45%)
Last purchased on November 19^th at $127.50 U.S.
Home Depot continues to execute very well, consistently delivering better than expected results in a challenging retail environment. The housing market remains robust, which is increasing customers’ willingness to take on more discretionary home improvement projects. The housing market in the U.S. will remain on a positive trajectory and that spending on home improvement will continue to be a bright spot supported by low gasoline prices and positive consumer confidence. (more)

Sunedison Inc (NYSE:SUNE)

Sunedison Inc (NYSE:SUNE) closed at $3.96 a share on strong money flow. Momentum picking up with MACD climbing and Slow Stochastic continues to trend higher. If the stock can break Wednesday's high, I think we will rally back to the $5 level.

SINA Corp (NASDAQ: SINA)

Sina Corporation, through its subsidiaries, operates as an online media company in the People’s Republic of China. It operates SINA.com, an online brand advertising portal that provides region-focused format and content, including multimedia news; sporting events news; automobile-related news; business news coverage and personal finance columns; entertainment news and events; technology updates; interactive video products, such as news, sports, entertainment, and education; and education, digital, fashion, eLadies, luxury, health, collectibles, travel, and other interest-based channels.
Take a look at the 1-year chart of Sina (NASDAQ: SINA) below with my added notations:

SINA has hit the $52.50 mark (red) as resistance multiple times in the past month. In addition, the stock has been climbing a trend line of support (green) since mid-November. Eventually, the stock will have to break either the $52.50 resistance or the trendline support.

The Tale of the Tape: SINA is winding up between two key levels. A long trade could be made at the trendline support or on a break above $52.50. A break below trendline would be an opportunity to enter a short trade.