Recent Breakouts
Our recent breakout scan returned a number of promising stocks for review.
We look for shallow corrections and Trend Index troughs above zero which indicate healthy buying pressure.
Australia
Commonwealth Bank Of Australia (CBA) – Recovered from its recent trough and shows a strong up-trend. Breakout above 105.00 is a bullish sign.
CSR Ltd (CSR) – Trend Index indicates rising buying pressure. Follow-through above 6.40 would signal a fresh advance.
Canada
CAE Inc (CAE) – Shallow trough and Trend Index holding above zero indicate buying pressure. Breakout above 40.00 signals a fresh advance.
Brookfield Business Partners LP (BBU-UN) – Trend Index above zero indicates buying pressure.
Riocan Real Estate Investment Trust (REI-UN) – Shallow trough and Trend Index holding above zero indicate buying pressure. Breakout above 23.00 would signal a fresh advance.
UK
Intercontinental Hotels Group PLC (IHG) – Trend Index indicates rising buying pressure, while breakout above 5,200 signals a fresh advance.
USA
Triumph Group (TGI) – Trend Index holding above zero indicates long-term buying pressure. Breakout above 22.00 signals a fresh advance.
American Financial Group (AFG) – Trend Index holding above zero indicate long-term buying pressure. Breakout above 140.00 signals a fresh advance.
Emcor Group (EME) – Trend Index trough above zero indicates buying pressure. Follow-through above 130.00 confirms the advance.
Enpro Industries (NPO) – Trend Index trough above zero indicates buying pressure. Breakout above 100.00 would signal a fresh advance.
Provident Bancorp CS (PVBC) – Trend Index trough above zero indicates buying pressure. Follow-through above 19.00 confirms the advance.
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 trend is your friend
except at the end where it bends.~ Ed Seykota
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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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