RAM Energy Resources, Inc. (RAME) is being listed as a breakout stock. Though we’ve watched the stock fall back from today’s high of $1.96, the bullish damage has already been done – the ceiling around $1.32 has been smashed.

And that’s nothing to take lightly. RAM Energy Resources shares have been battling that line since late 2008…. Not just mid-September. The move today just finalizes what’s been a long-term paradigm shift for RAME.

As for where it will all end, who know? RAM Energy peaked above $6.00 in mid-2008, so there’s a lot of upside stored up here. More importantly, the direction shift for RAME was made official today.

RAM Energy Resources, Inc. (RAME)

You could consider Reynolds American Inc. (RAI) the low-hanging fruit of the bunch – this chart has made the slow, methodical arc from a bullish period into what’s not clearly a bearish phase.

The biggest worry here is that Reynolds American shares may end up finding support around $42, where a support line currently rest (the line extends back to March’s low). That wouldn’t be a bad move for RAI, but it wouldn’t exactly be exciting either.

We view the more likely landing spot for Reynolds American would be something closer to June’s low around $37.00. The stock certainly has that kind of ground to give up following the excessive runup. RAI has a pretty strong options market as well, and the stock’s low volatility perhaps makes that a more attractive risk/reward scenario.

Reynolds American Inc. (RAI)