Our latest scan for breakouts turned up only one candidate on the ASX:
Premier Investments is an Australian company that operates six specialty retail fashion chains in the specialty retail fashion markets in Australia & New Zealand and also operates the unique Smiggle brand, retailing children’s stationery in Australia and overseas markets.
Not your normal candidate for a growth stock but PMV has been appreciating steadily, with shallow troughs and regular breakouts since March last year. Trend Index is declining; so we would want to see an upswing, respecting the zero line.
The Russell 3000 yielded a few more promising candidates:
Look for a strong Trend Index, holding above zero, and shallow corrections.
Quote for the Week
No amount of sophistication is going to allay the fact that all your knowledge is about the past and all your decisions are about the future.
~ Ian Wilson, former GE Chairman