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 & Canada
No significant breakouts this week.
UK
iShares UK Property UCITS ETF GBP [Dist] (IUKP) – A strong recovery from a deep trough. Trend Index troughs above zero indicate LT buying pressure. Follow-through above 670 would complete a large cup-and-handle pattern, signaling a fresh advance.
![iShares UK Property UCITS ETF GBP [Dist] (IUKP)](https://www.incrediblecharts.com/images/2021/2021-11-29-uk-iukp.png)
USA
CARS.com Inc (CARS) – Strong breakout above $15.00 after S&P Dow Jones Indices announced that it will be added to the S&P SmallCap 600.
CARS recently acquired CreditIQ, enabling them to enter the multi-billion-dollar auto finance market; Cars.com's 142.4 million visits, coupled with 247.5 million visits across 5,200 Dealer Inspire websites, will create a new, lender-based revenue source (Morningstar).
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
Inflation is always and everywhere a monetary phenomenon in the sense that it is and can be produced only by a more rapid increase in the quantity of money than in output.
~ Milton Friedman
M2 = quantity of money; Gross Domestic Product (GDP) = output
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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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