On Monday, May 20:
Of 2,328 stocks and exchange-traded funds in this week's analytical universe, 38 that are traded on the major American stock exchanges broke beyond their 20-day price channels, 26 to the upside and 12 to the downside.
In addition, seven that are traded over the counter broke out, three to the upside and four to the downside
The symbols I'm analyzing are mid- and large-cap stocks having analyst coverage, as well as selected exchange-traded funds.
Ten of the major-exchange symbols survived my initial screening, nine having broken out to the upside and one to the downside. The symbols giving bull signals are are ACAD, OG, HERO, IMAX, MPC, QUAD, TUP, TV and WY. The symbol giving a bear signal is FB.
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 Tuesday, May 21.
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