6/13 Top Prospects

Fourteen breakouts beyond the 55-day price channel among the 300+ stocks and exchange trade funds I screened. One of them has a strong trend.

Strong-trend Breakouts

sym	phase	adx	bday	blevel	stop	atr	atr%
NEM		28	jun13	$51.69	$52.94	1.25	2.4%

Exchange-traded funds are marked with a plus sign (+) after the ticker symbol. My holdings are marked with an asterisk (*).

NEM has extremely bullish financials, so the bear breakout is a contrary move.

Weak-trend Breakouts

sym	phase	adx	bday	blevel	stop	atr	atr%
APA		16	jun13	$114.94	$117.94	3.00	2.6%
BHP		19	jun13	$89.48	$91.45	1.97	2.2%
BRCM		20	jun13	$32.64	$33.67	1.03	3.2%
CLF		18	jun13	$83.00	$85.47	2.47	3.0%
CMCSA		19	jun13	$23.82	$24.29	0.50	2.0%
CNX		12	jun13	$46.74	$48.35	1.61	3.4%
EWA+		22	jun13	$25.24	$25.69	0.45	1.8%
MMR		16	jun13	$15.89	$16.63	0.74	4.7%
REMX+		21	jun13	$24.54	$25.22	0.68	2.8%
SBUX		9	jun13	$34.84	$35.48	0.64	1.8%
VRSN		23	jun13	$33.35	$34.04	0.69	2.1%
XLY+		24	jun13	$37.81	$38.32	0.51	1.4%
XOM		22	jun13	$79.42	$80.27	1.43	1.8%

Exchange-traded funds are marked with a plus sign (+) after the ticker symbol. My holdings are marked with an asterisk (*).



Key

• 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 25 and up but below 40, magenta (light purple) for 20 and up but below 25, and brown for anything below 20. (Mnemonic: Orange for the overhead sun, blue for the surrounding sky, magenta 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.