The BRCD breakout came on a 6%+ rise after the company announced earnings that were twice the estimates.
CHIM tracks the China materials sector.
DAL today came within 4¢ of breaking out to the bull side. The breakout level is $11.64.
DE has touched the lower price channel boundary without breaking through. The level is $84.27.
GME shows a bullside breakout after an earnings surprise, but a declining average directional index (adx) negates the phase change.
The S breakout comes amid an ongoing bull phase that has lated since March 8. I note it in the analysis because of its strength.
- phase: Green for a bull-phase breakout, red for a bear phase.
- adx: Average direction index location, indicating the strength, or the temperature, of the trend. Orange for 40 or greater, aqua (light blue) for 30 and up but below 40, magenta (light purple) for 20 and up but below 30, and brown for anything below 20. (Mnemonic: Orange for the overhead sun, blue for the surrounding sky, purple for sunset on the horizon and brown for the earth.)
- bday: Breakout day, the day the price broke through the upper or lower 55-day price line.
- blevel: Breakout level, the price level of the line that was broken through.
- bstop: The stop/loss price calculated on breakout days as the 14-day average true range below the breakout-day low for a bull phase and above thre breakout-day high for a bear phase.
- atr: The 14-day average true range, in the same currency as the price.
- atr%: The average true range as a percentage of the breakout level, an indicator of volatility that is comparable for all potential trades.
About channel analysis
Read a detailed explanation of my channel analysis method, including trading rules.