Another day, another flat base breakout!  You’ll see me feature these kinds of breakouts here quite a bit because in my opinion they are one of the best formations around – clearly defined support and resistance levels with a high success rate.  I featured flat base breakouts in MPWR and ENR in the past 2 days and today I highlight a breakout in Banco Itau (ITU).  Foreign banks have been moving of late and ITU is no exception.  Today, it breaks of a well formed flat base to a new all time high.  I do no own this stock currently but may consider a position on a bit of a pull back.  While at the top of a buyable range, I prefer to get into position very close to the breakout point.  Why not wait for perfect entries when there are so many great trade candidates?