Recent Breakouts
Our recent breakout scan returned some promising stocks in USA, Canada and the UK but none in Australia. We look for shallow corrections and Trend Index troughs above zero which indicate healthy buying pressure.
Canada
First Majestic Silver Corp Common (FR) – Testing resistance at 18. Breakout above resistance would signal the start of a new up-trend.
UK
Coats Group Plc (COA) – Recovering from a deep trough. Rising Trend Index troughs indicate increasing buyer interest. Follow-through above 80 would signal a fresh advance.
USA
Tennant Company (TNC) – Rising Trend Index troughs indicate increased buying pressure. Breakout above 86 would signal a fresh advance.
Aerovironment Inc (AVAV) – Recovering from LT down-trend. Breakout above resistance at 100 would signal a fresh advance.
Crane Company (CR) – Recovery from the recent shallow trough with a breakout above 108. Trend Index troughs above zero indicate LT buying pressure. Follow-through above 110 would confirm a fresh advance.
Reminder
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
There are two kinds of failures:
those who thought and never did,
and those who did and never thought.~ Laurence J. Peter
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.