Thursday, March 28, 2013

Thursday's Breakouts

Thursday, March 28:

Of 2,399 stocks and exchange-traded funds in this week's analytical universe, 57 that are traded on the major American stock exchanges broke beyond their 20-day price channels, 37 to the upside and 20 to the downside.

Two survived my initial screens, all with bull signals. In descending volume order, they are FLR and MENT.

Three that would have otherwise survived were knocked out by my rule excluding stocks within 30 days of an earnings announcement. The traditional start the 1st quarter of 2013, the AA announcement, is on April 8. The ensuing flood of earnings announcements will it difficult over the next few weeks to find trades that meet my standards.

Three over-the-counter stocks from my analytical universe broke beyond their 20-day price channels,  one the upside and two to the downside. None had the better than even success rate needed to survive initial screening.

The surviving issues that confirm their signals by trading on Monday beyond their breakout levels will merit further analysis.

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