Our recent breakout scan returned a number of promising stocks for review.
Australia
Orica (ORI) – rising Trend Index indicates buying pressure. Follow-through above 14.50 would complete a double bottom reversal.
Canada
Precision Drilling (PD) – Trend Index trough above zero indicates strong buying pressure.
UK
Metro Bank (MTRO) – not a conventional breakout but rising Trend Index indicates buying pressure.
USA
Marathon Petroleum (MPC) – Trend Index troughs above zero indicate strong buying pressure.
More Breakouts
Spirit of Texas Bancshares (STXB) – shallow trough is a bullish sign. Trend Index holding above zero indicates strong buying pressure. Breakout above 25.00 would signal a fresh advance.
CURO Group Holdings (CURO) – Trend Index trough above zero indicates strong buying pressure.
Curtiss-Wright (CW) – Trend Index trough above zero indicates strong buying pressure.
Acuity Brands (AYI) – Trend Index troughs above zero indicate strong buying pressure. Follow-through above 200 is bullish.
Apollo Gloabl Management (APO) – Trend Index trough above zero indicates strong buying pressure.
Williams Companies (WMB) – Trend Index trough above zero indicates strong buying pressure.
Home Bancorp (HBCP) – shallow trough is a bullish sign. Trend Index trough above zero indicates strong buying pressure.
APA Corp (APA) – Breakout above 24.00.
Occidental Petroleum (OXY) – Breakout above 33.00.
Shallow corrections and Trend Index troughs above zero indicate healthy buying pressure.
A word of caution: the above stocks are selected on the basis of technical analysis and do not consider fundamentals like sales, earnings, debt, etc.
Please do your own research. They are not a recommendation to buy or sell.
Colin Twiggs is a former investment banker with almost 40 years of experience in financial markets. He founded PVT Capital (AFSL number 546090), which provides income and growth strategies to wholesale clients.
Colin also co-founded Incredible Charts and writes the popular Patient Investor newsletter.
Using a top-down approach, Colin identifies macro trends in the global economy and then combines fundamental and technical analysis to evaluate opportunities in sectors that stand to benefit.
Focusing on interest rates and financial market liquidity as primary drivers of the economic cycle, he warned of the 2008/2009 and 2020 bear markets well ahead of actual events.
