On Thursday, May 16:
Of 2,305 stocks and exchange-traded funds in this week's analytical universe, 45 that are traded on the major American stock exchanges broke beyond their 20-day price channels, 24 to the upside and 21 to the downside.
In addition, nine that are traded over the counter broke out, three to the upside and six to the downside
The symbols I'm analyzing are mid- and large-cap stocks that are covered by analysts, as well as selected exchange-traded funds.
Eight of the major-exchange symbols survived my initial screening, six having broken out to the upside and two to the downside. The symbols giving bull signals are are CDNS, CEB, DHR, FBP, RJF and TMH. The symbols giving bear signals are FTE and MTL.
One of the over-the-counter symbols survived initial screening, LDBKY, which broke out to the upside.
I'll do further analysis on the survivors that confirm their signals by trading beyond their breakout levels on Friday, May 17.
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