Thursday, May 9, 2013

Friday's Prospects

On Thursday, May 9:

Of 2,299 stocks and exchange-traded funds in this week's analytical universe, 36 that are traded on the major American stock exchanges broke beyond their 20-day price channels, 18 to the upside and 18 to the downside.

In addition, nine that are traded over the counter broke out, five to the upside and four 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.

Four of the major-exchange symbols survived my initial screening, all having broken out to the upside. They are CRUS, NLSN, STSA and ZNH.

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 10.

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