Recent Breakouts
Our recent breakout scan returned a few promising stocks -- in the USA and Australia -- but none in Canada or the UK. We look for shallow corrections and Trend Index troughs above zero which indicate healthy buying pressure.
Australia
CSL Ltd (CSL) – Strong breakout above 280. Rising Trend Index indicates growing interest from buyers. Retracement respecting the new support level of 280 would confirm an advance to test 315.
USA
Simulations Plus Inc (SLP) – Breakout from a narrow base between 35 and 50. Trend Index trough at zero indicates buying pressure. Follow-through above 60 would signal a new up-trend.
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
The trend is your friend except at the end where it bends.
~ Ed Seykota
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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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