Thursday, April 18, 2013

Thursday's Breakouts

Thursday, April 17:

Of 2,315 stocks and exchange-traded funds in this week's analytical universe, 82 that are traded on the major American stock exchanges broke beyond their 20-day price channels, one to the upside and 81 to the downside. In addition, three that are traded over the counter broke out, all to the downside.

The symbols I'm analyzing are among those that have drawn some attention from brokerage analysts. The range from penny stocks to blue chips with liquidity running from barely existing to the max.

Three of the major-exchange symbols survived my initial screening, all having broken out to the downside. They are, in descending volume order, MW, TFM and THO. All have options available. MW and THO are also eligible for short sales of shares.

None of the over-the-counter symbols survived initial screening.

I'll do further analysis on MW, TFM and THO if they trade below their breakout levels on Friday, confirming the bear signals.

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