Recent Breakouts
Welcome to the first Chart of the Week newsletter for 2022.
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
Blackwall Ltd (BWF) – Has recovered from its recent trough continuing a strong up-trend. Trend Index troughs above zero indicate long-term buying pressure. Respect of support at 0.640 with follow-through above 0.680 would confirm a fresh advance.
Canada
BMO Europe High Dividend Covered Call CAD Hedged ETF (ZWE) – Trend Index holding above zero indicates long-term buying pressure. Follow-through above 20.20 would signal a fresh advance.
UK
British Land Company Plc (BLND) – Testing resistance at 550. Trend Index above zero indicates rising buying pressure. Follow-through above 560 would signal a fresh advance.
USA
Pioneer Natural Resources Company (PXD) – Has recovered from its recent trough. Trend Index trough at zero indicates buying pressure. Follow-through above 200 would confirm 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
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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