Friday's Prospects

On Thursday, May 23:

Of 2,328 stocks and exchange-traded funds in this week's analytical universe, 59 that are traded on the major American stock exchanges broke beyond their 20-day price channels, four to the upside and 55 to the downside.

In addition, 12  that are traded over the counter broke out, all to the downside.

The symbols I'm analyzing are mid- and large-cap stocks having analyst coverage, as well as selected exchange-traded funds. I screened them for

• the odds of a successful trades in the direction of the breakout over the past year, 
• a yield adjusted by those odds of 5% 
• or greater and absence of an earnings announcement within the next 30 days. 

For bear signals, I also screened to ensure the ability to do a trade, either because of the presence of options or sufficient liquidity to allow for short sale.

Two of the major-exchange symbols survived my initial screening, one, DPZ, having broken out to the upside and the other, AEE, to the downside.

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

I'll do further analysis on the survivors that confirm their signals by trading beyond their breakout levels on Friday, May 24.