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
Fineos Corp Holdings Plc (FCL) – Testing resistance at 4.60. Trend Index troughs above zero indicate buying pressure. Follow through above 4.80 would signal a fresh advance.
Uniti Group Ltd (UWL) – Strong up-trend, a shallow trough and Trend Index holding above zero indicate LT buying pressure. Follow-through above 4.40 would confirm a fresh advance.
Canada
No significant breakouts this week.
UK
Victoria Plc (VCP) – Has recovered from its recent trough. Trend Index crossing above zero indicates rising buyer interest. Follow-through above 1,200 would confirm a fresh advance.
USA
General Mills (GIS) – Recovery from a deep trough. Trend Index trough at zero indicates buying pressure. Breakout above 64.00 would signal a fresh 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
In order of importance to me are:
1) the long term trend,
2) the current chart pattern, and
3) picking a good spot to buy or sell.~ Ed Seykota (featured in Market Wizards)
Recent updates for Market Analysis Subscribers
If you are not a Market Analysis subscriber, please take advantage of our $1 special.
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.
Everything contained in this web site, related newsletters, training videos and training courses (collectively referred to as the "Material") has been written for the purpose of teaching analysis, trading and investment techniques. The Material neither purports to be, nor is it intended to be, advice to trade or to invest in any financial instrument, or class of financial instruments, or to use any particular methods of trading or investing.
Advice in the Material is provided for the general information of readers and viewers (collectively referred to as "Readers") and does not have regard to any particular person's investment objectives, financial situation or needs. Accordingly, no Reader should act on the basis of any information in the Material without properly considering its applicability to their financial circumstances. If not properly qualified to do this for themselves, Readers should seek professional advice.
Investing and trading involves risk of loss. Past results are not necessarily indicative of future results.
You, the Reader, need to conduct your own research and decide whether to invest or trade. The decision is yours alone. We expressly disavow all and any liability to any person, with respect of anything, and of the consequences of anything, done or omitted to be done by any such person in reliance upon the whole or any part of the Material.
Read the Financial Services Guide.