Leo Fasciocco is a technical specialist who focuses on finding breakout buys -- stocks that have broken out from their trading bases and are poised, in his view, to move higher.
In his Ticker Tape Digest he has isolated two intriguing energy plays: Diamond Offshore Drilling Inc. (NYSE: DO) searches for energy below the sea, while solar firm Suntech Power Holdings Co. (NYSE: STP) looks skyward.
The advisor explains, "Diamond Offshore has 30 semisubmersibles, 13 jack-up rigs (mobile drilling platforms), and one drillship. They operate around the world. The company contracts with major oil and gas companies.
"DO's profit outlook is excellent and should be the driver to send the stock higher. Technically, the stock's long-term chart shows a powerful bull market. It has soared from 20 to 113 the past three years, riding the rising price of crude oil.
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