Recent Breakouts
Our recent breakout scan returned some promising stocks in the USA and the UK but none in Canada or Australia. We look for shallow corrections and Trend Index troughs above zero which indicate healthy buying pressure.
UK
Assura Plc (AGR) – Recovery from shallow trough. Rising Trend Index troughs indicate increased interest from buyers. Retracement respecting the new support level at 70 would confirm the up-trend.
Empiric Student Property Plc (ESP) – Shallow trough and Trend Index holding above zero indicate buying pressure. Follow-through above 94 would confirm a fresh advance.
USA
Cabot Corp (CBT) – Breakout above 74 signals another advance in the LT up-trend. Trend Index troughs at zero indicate persistent buying pressure. Retracement that respects support at 74 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
A bull market is when you check your stocks every day to see how much they went up. A bear market is when you don't bother to look anymore.
~ John Hammerslough
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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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