Recent Breakouts
Our recent breakout scan returned a number of promising stocks for review.
Australia
Galan Lithium (GLN) – Turnover of over $1million per day, has recovered from its recent trough and shows a strong up-trend.
Canada
Obsidian Energy (OBE) – Breakout above 5.00 completes a bullish cup-and-handle pattern.
UK
HSBC FTSE 100 ETF (HUKX) – Breakout above 7,150 with Trend Index troughs above zero indicate buying pressure.
USA
Norfolk Southern (NSC) – Has made a strong recovery from a deep trough.
More breakout charts below
Byline Bancorp (BY) – Shallow trough and Trend Index holding above zero indicates long-term buying pressure. Follow-through above 26.00 would confirm a fresh advance.
F5 Networks (FFIV) – Bullish ascending triangle and Trend Index troughs above zero indicate long-term buying pressure. Follow-through above 215 would signal a fresh advance.
Steven Maddens (SHOO) – Trend Index troughs above zero indicate long-term buying pressure. Follow-through above 46.00 would signal a fresh advance.
United Dominion Realty Trust (UDR) – Shallow trough and Trend Index above zero indicate buying pressure. Follow-through above 56.00 would signal a fresh advance.
Notes
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
If you always do what you've always done,
you'll always get what you've always got.~ Henry Ford
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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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