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Today, 24 stocks are on the positive breakouts list, while the list of stocks with negative breakouts climbed to 39.

Of note is the concentration of resource stocks on the negative breakouts list. There are 18 energy stocks on the negative breakouts list, representing 46 per cent of the stocks. There are nine stocks on the negative breakouts from the materials sector. These two sectors, energy and materials, account for 69 per cent of the stocks breaking to the downside. In other words, continue to avoid stocks in these sectors as they remain under pressure.

Lucara Diamond (LUC-T) surfaced on the positive breakouts list last week after the company reported remarkable diamond discoveries in Botswana, including a baseball sized, 1,111 carat diamond – the world's second largest gem quality diamond recovered in history. Headquartered in Vancouver, B.C., Lucara is a diamond producer with its 100 per cent owned Karowe mine in Botswana, Africa. In addition, last week management announced the recovery of two other large diamonds, a 813 carat diamond and a 374 carat stone. Continued discoveries announcements are catalysts for the stock.

According to Bloomberg, there are currently eight analysts whom cover this stock and all eight have "buy" recommendations. Price targets vary widely by analysts and are as follows: $2.20, $2.25, two at $2.50, $2.70, two at $2.91, and $3.70. The average one-year price target is $2.68, implying a potential price return of 24 per cent.

Analysts have been revising their sales and earnings estimates higher for 2016. The consensus revenue estimate is $217 million (U.S.) in 2015, rising 13 per cent to $245 million in 2016. Consensus earnings per share estimates 19 cents in 2015, and 18 cents in 2016.

Lucara pays shareholders a semi-annual dividend of 2 cents (Cdn) per share, or 4 cents per year, equating to an annualized yield of 1.9 per cent.

Year-to-date, the share price is basically unchanged, down 1 per cent. The stock price soared 34 per cent, on high volumes, over the past two trading day after reporting the amazing diamond discoveries. The stock has technical resistance at $2.20, then between $2.40 and $2.50. There is downside support at $2.

The diamond industry has been under pressure with weakness in small and medium sized diamonds. Declining demand from Asia has caused an increase in inventory levels, driving prices down.

As always, I strongly encourage readers to consult a financial advisor, and to do their own proper due diligence before taking any investment action.

Below is a list of stocks in the S&P/TSX composite index and the S&P/TSX Small Cap index that are technically breaking out, reaching new 55-day highs or lows.

24 Positive Breakouts
HOT.UN-TAmerican Hotel Income Properties REIT LP
CFX-TCanfor Pulp Products Inc
GIB.A-TCGI Group Inc
DSG-TDescartes Systems Group Inc
ECI-TEnerCare Inc
ESL-TEnghouse Systems Ltd
ET-TEvertz Technologies Ltd
EXE-TExtendicare Inc
FFH-TFairfax Financial Holdings Ltd
FN-TFirst National Financial Corp
FSV-TFirstService Corp
GRT.UN-TGranite Real Estate Investment Trust
INN.UN-TInnVest Real Estate Investment Trust
ITP-TIntertape Polymer Group Inc
PJC.A-TJean Coutu Group
LB-TLaurentian Bank of Canada
LUC-TLucara Diamond Corp
NBD-TNorbord Inc
NPI-TNorthland Power Inc
NWH.UN-TNorthWest Healthcare Properties REIT
OTC-TOpen Text Corp
PWF-TPower Financial Corp
SAP-TSaputo Inc
SRU.UN-TSmart Real Estate Investment Trust
39 Negative Breakouts
ASR-TAlacer Gold Corp
AGI-TAlamos Gold Inc
ALA-TAltaGas Ltd
BNK-TBankers Petroleum Ltd
BNP-TBonavista Energy Corp
BXO-TBoulder Energy Ltd
DOO-TBRP Inc
CBL-TCallidus Capital Corp
CEU-TCanadian Energy Services & Technology
FRC-TCanyon Services Group Inc
CMG-TComputer Modelling Group Ltd
CJR.B-TCorus Entertainment Inc
DDC-TDominion Diamond Corp
DC.A-TDundee Corp
ENF-TEnbridge Income Fund Holdings Inc
EDR-TEndeavour Silver Corp
ESI-TEnsign Energy Services Inc
GUY-TGuyana Goldfields Inc
HGN-THalogen Software Inc
LSG -TLake Shore Gold Corp
DR-TMedical Facilities Corp
MTL-TMullen Group Ltd
NGD-TNew Gold Inc
NIF.UN-TNoranda Income Fund
NVA-TNuVista Energy Ltd
PRE-TPacific Exploration and Production Corp
POU-TParamount Resources Ltd
RKN-TRedknee Solutions Inc
SES-TSecure Energy Services Inc
XSR-TSirius XM Canada Holdings Inc
SGY-TSurge Energy Inc
TCK.B-TTeck Resources Ltd
TH-TTheratechnologies Inc
TOU-TTourmaline Oil Corp
TGL-TTransGlobe Energy Corp
TCN-TTricon Capital Group Inc
TDG-TTrinidad Drilling Ltd
VET-TVermilion Energy Inc
WTE-TWestshore Terminals Investment Corp