Wednesday, April 17, 2013

Wednesday's Breakouts

Wednesday, April 17:

Of 2,315 stocks and exchange-traded funds in this week's analytical universe, 96 that are traded on the major American stock exchanges broke beyond their 20-day price channels, three to the upside and the 93 to the downside. In addition, 15 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.

Three of the major-exchange symbols survived my initial screening. The most liquid, QIHU, broke out to the upside. ORIG and AIR broke out to the downside. The two bear symbols lack sufficient liquidity for options trades or short sales of shares.

Three over-the-counter symbols survived my initial screenings, all of them downside breakouts. They are AIQUY, ATLKY and BZLFY. None has options, nor are they sufficiently liquid for short sales.

That leaves one survivor, the potential bull play QIHU, with an average volume of 1.1 million shares. Its options at first glance seem to have sufficient liquidity to trade, but a final decision on that will await Thursday's analysis, if the bull signal is confirmed.

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