On Tuesday, May 21:
Of 2,328 stocks and exchange-traded funds in this week's analytical universe, 37 that are traded on the major American stock exchanges broke beyond their 20-day price channels, 22 to the upside and 15 to the downside.
In addition, seven that are traded over the counter broke out, five to the upside and two to the downside
The symbols I'm analyzing are mid- and large-cap stocks having analyst coverage, as well as selected exchange-traded funds.
Two of the major-exchange symbols survived my initial screening, both having broken out to the upside: NGLS and TSN.
None of the over-the-counter symbols survived initial screening.
I'll do further analysis on the survivors that confirm their signals by trading beyond their breakout levels on Wednesday, May 22.
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