Wednesday, May 15, 2013

Thursday's Prospects

On Wednesday, May 15:

Of 2,305 stocks and exchange-traded funds in this week's analytical universe, 47 that are traded on the major American stock exchanges broke beyond their 20-day price channels, 39 to the upside and eight to the downside.

In addition, six that are traded over the counter broke out, four to the upside and two 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, all having broken out to the upside. They are AVY, CSE, CX, GXP, LPX, MGLN, ODP and OMX.

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 Thursday, May 16.

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