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US Stocks Breakouts & Breakdowns - SP500, NYSE, & Nasdaq Stock Charts - Printable Version

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Stage 2A breakouts - $VEEV $AMBR - isatrader - 2016-05-28

With the US market improvement, and potential for a move back into Stage 2 as shown in the main thread, I thought I'd have a look to see if there was any individual stocks Stage 2A breakouts to highlight from Friday.

VEEV - made a Stage 2A breakout, but is still not clear of resistance yet. Volume on the breakout was 3.07x the average weekly volume and relative performance vs the S&P 500 is breaking out above a newly rising zero line.

           


AMBR - Stage 2A breakout on 2.38x average weekly volume from a six month Stage 1 base. Relative performance vs the S&P 500 is breaking above the flattening zero line for the first time.

           

RE: US Stocks - Watchlist and Discussion - kero - 2016-05-28

Interesting: I see that you prefer using the basic Relative Strength, instead of Mansfield's Relative Strength (though still using it's 52 MA as reference). I could never manage to decide which one is better and Weinstein isn't that clear about that point in its book. He uses Mansfield because its charts have Masnfield but that's all. At the moment, I mainly use Mansfield but also have a look on the basic Relative Strength.

Any comment about that ? Wink

RE: US Stocks - Watchlist and Discussion - isatrader - 2016-05-28

(2016-05-28, 02:50 PM)kero Wrote: Interesting: I see that you prefer using the basic Relative Strength, instead of Mansfield's Relative Strength (though still using it's 52 MA as reference). I could never manage to decide which one is better and Weinstein isn't that clear about that point in its book. He uses Mansfield because its charts have Mansfield but that's all. At the moment, I mainly use Mansfield but also have a look on the basic Relative Strength.

Any comment about that ? Wink

It's something that I asked him about a few years ago and he agreed with me, as I found from my own research of thousands of weekly stage analysis charts that the basic relative performance with the 52 week MA visible is much more useful imo than a flat zero line, as it gives an additional reference point, in that you can see the slope of the MA (zero line), which is critical imo. As from my studies I've found that if the relative performance MA is sloping downwards when the RS line breaks above it, then the Stage 2A breakout has a much higher chance of failure than if the relative performance MA is flattening or rising. So, I've made it one of my conditions in identifying the A+ breakouts that the relative performance MA should be flattening or rising only, as I'm only interested in finding the stocks with A+ potential.

$TH.CA - Stage 2 continuation breakout - isatrader - 2016-05-28

TH.TO - Stage 2 continuation breakout to multi year new highs, with 2.62x average weekly volume on breakout week, and strong relative performance vs the S&P 500.

The longer term monthly chart shows a Stage 2 continuation attempt and that volume contracted on the pullback in late 2015/early 2016 and has expanded again over the last three months as it’s moved higher again, and relative performance is it’s strongest in six years. So an interesting one imo.

           

RE: US Stocks - Watchlist and Discussion - kero - 2016-05-28

This goes in the same direction of some thoughts I had since long time.

isatrader Wrote:As from my studies I've found that if the relative performance MA is sloping downwards when the RS line breaks above it, then the Stage 2A breakout has a much higher chance of failure than if the relative performance MA is flattening or rising.

That's quite normal: if the RS line breaks above a descending MA, that just means that eventually, the stock's RS is changing from bear to flat, not from bear/flat to bull. That's why I had the feeling that the Mansfield method could be misleading and that in the end, as you say, the basic RS gives a better view on the global situation of the stock. I suppose that you also use it for sectors ?

Anyway. Thank you for your comment.

RE: US Stocks - Watchlist and Discussion - isatrader - 2016-05-28

(2016-05-28, 05:04 PM)kero Wrote: ...I suppose that you also use it for sectors ?

Yep, it works exactly the same for sectors, indexes or stocks

RE: US Stocks - Watchlist and Discussion - shaunattwood - 2016-05-31

SINA = bullish ascending triangle formation

RE: US Stocks - Watchlist and Discussion - isatrader - 2016-05-31

CLF is looking interesting. Still under long term resistance, but huge moves since the start of the year through it's Stage 1. The Stage 2A breakout failed as it had already moved a long way, but could be setting up for a second attempt.