Recent Breakouts
Our recent breakout scan returned a number of promising stocks for review.
Australia
Orica (ORI) – rising Trend Index indicates buying pressure. Follow-through above 14.50 would complete a double bottom reversal.
Canada
Precision Drilling (PD) – Trend Index trough above zero indicates strong buying pressure.
UK
Metro Bank (MTRO) – not a conventional breakout but rising Trend Index indicates buying pressure.
USA
Marathon Petroleum (MPC) – Trend Index troughs above zero indicate strong buying pressure.
More Breakouts
Spirit of Texas Bancshares (STXB) – shallow trough is a bullish sign. Trend Index holding above zero indicates strong buying pressure. Breakout above 25.00 would signal a fresh advance.
CURO Group Holdings (CURO) – Trend Index trough above zero indicates strong buying pressure.
Curtiss-Wright (CW) – Trend Index trough above zero indicates strong buying pressure.
Acuity Brands (AYI) – Trend Index troughs above zero indicate strong buying pressure. Follow-through above 200 is bullish.
Apollo Gloabl Management (APO) – Trend Index trough above zero indicates strong buying pressure.
Williams Companies (WMB) – Trend Index trough above zero indicates strong buying pressure.
Home Bancorp (HBCP) – shallow trough is a bullish sign. Trend Index trough above zero indicates strong buying pressure.
APA Corp (APA) – Breakout above 24.00.
Occidental Petroleum (OXY) – Breakout above 33.00.
Shallow corrections and Trend Index troughs above zero indicate healthy buying pressure.
A word of caution: the above stocks are selected on the basis of technical analysis and do not consider fundamentals like sales, earnings, debt, etc. Please do your own research. They are not a recommendation to buy or sell.
Quote for the Week
In 2002 in Berlin, Pres. Bush told Chancellor Schroeder directly that Schroeder's decision to phase out nuclear power meant he was turning Germany's energy security over to Russia. Little did anyone know Schroeder would go on to become chairman of Rosneft.
~ Former WH Press Secretary Ari Fleischer, 7/11/18
(Hat tip to Luke Gromen)
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Colin Twiggs is director of The Patient Investor Pty Ltd, an Authorised Representative (no. 1256439) of MoneySherpa Pty Limited which holds Australian Financial Services Licence No. 451289.
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