Often, when a leading stock is setting up to breakout of a solid base it is highlighted in CANSLIM.net's Mid-Day Breakouts Report.  The most relevant factors are noted in the report which allows prudent CANSLIM oriented investors to place the issue in their watch list.  After doing any necessary backup research, the investor is prepared to act if and when the stock triggers a technical buy signal (breaks above its pivot point on more than +50% average turnover). In the event the stock fails to trigger a technical buy signal and its price declines then it will simply be removed from the watch list.

Perrigo Co (PRGO +$2.27 or +3.65% to $64.43) rallied near its 52-week high and finished at a new high close today. After an orderly 5-month base, its color code was changed to yellow as it was featured in yellow in the mid-day report today (read here), while confirming gains with above average volume and a close above the pivot point cited would trigger a technical buy signal. No overhead supply remains to act as resistance. The high-ranked Medical - Generic Drugs firm's sales revenues showed a +22% increase (acceleration) in the latest quarter.  It has shown very strong quarterly earnings increases and has a good annual earnings (A criteria) history.