On Tuesday, May 7:
Of 2,299 stocks and exchange-traded funds in this week's analytical universe, 105 that are traded on the major American stock exchanges broke beyond their 20-day price channels, 96 to the upside and nine to the downside.
In addition, four that are traded over the counter broke out, three to the upside and one 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.
Eighteen of the major-exchange symbols survived my initial screening, all having broken out to the upside. They are BKU, CW, DRC, ETN, EVR, FTI, FUL, GBCI, GPC, HRS, LECO, LYB, PDCE, RYN, SAH, TNA, TWC and UHAL.
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 Wednesday, May 8.
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