Recent Breakouts
Our recent breakout scan returned a number of promising stocks for review.
Australia
Hansen Technologies (HSN) – Breakout above 6.40 and Trend Index trough at zero are both bullish.
Canada
Filo Mining (FIL) – Trend Index crossing above its descending trendline indicates a change in sentiment. Follow-through above 12.00 would be bullish.
UK
Avi Global Trust (AVI) – Shallow trough and Trend Index trough above zero indicate rising buying pressure.
USA
Regions Financial (RF) – Recovery from a deep trough. Trend Index troughs above zero indicates long-term buying pressure. Follow-through above 24.00 would signal a fresh advance.
More breakout charts below
Banner Corp (BANR) – Breakout above 60.00. Trend Index troughs above zero indicates long-term buying pressure.
TopBuild (BLD) – Breakout above 230.00 signals a fresh advance. Trend Index troughs above zero indicates rising buying pressure.
ConMed (CNMD) – Breakout above 145.00. Trend Index trough at zero indicates buying pressure. Follow-through above 150.00 would confirm a fresh advance.
Ryder System (R) – Has made a strong recovery from a deep trough. Rising Trend Index indicates buying pressure. Follow-through above 90.00 would signal a fresh advance.
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
The pessimist complains about the wind;
the optimist expects it to change;
the realist adjusts the sails.~ William Arthur Ward
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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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