Recent Breakouts
Our recent breakout scan returned a few promising stocks in the USA but none in Australia, Canada and the UK.
We look for shallow corrections and Trend Index troughs above zero which indicate healthy buying pressure.
USA
Enstar Group Ltd (ESGR) – Breakout above 265 and rising Trend Index indicate buying pressure. Follow-through above 270 would confirm a fresh advance.
Williams Companies (WMB) – In our sights once more, with a continuing uptrend confirmed by the recovery from a second deep trough. Trend Index recovering above zero indicates rising buying pressure. Follow-through above 30.00 would signal a fresh advance.
Karyopharm Therapeutics (KPTI) – Rising Trend Index troughs suggest a reversal. Breakout above 8.50 would signal an up-trend. Retracement that respects the new support level would strengthen the signal.
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
I never allow myself to have an opinion on anything that I don't know the other side's argument better than they do.
~ Charlie Munger
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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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