LOGM

LogMeIn, Inc (LOGM) is setting up to breakout as early as Friday into new all time highs.

The daily chart looks cup and handle-ish but technically the base is an IPO base with the pivot coming on new highs $23.60

An aggressive trader (i.e. me) could have bought today through the $22 area as volume poured in. In fact, LOGM traded nearly 600% more than it average 50 day volume. It was it's largest single day up volume since its IPO in July 2009.

You might ask, what is LOGM and what do they do?

LOGM has a technology that allows you to log onto your desktop via iPad and perform any tasks that your desktop runs.

LOGM recently reported earnings growth of 23% and sales growth of 24%. They sport an impressive ROE of 38%. The largest shareholder is Fidelity (FMR). And if you are a William O'Neil follower you know FMR always has the goods.

Good luck and do your due diligence!