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Link for this issue: https://tradingdiary.incrediblecharts.com/2021-10-11-markets.php
 

Recent Breakouts

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.

Orica (ORI)

Canada

Precision Drilling (PD) – Trend Index trough above zero indicates strong buying pressure.

Precision Drilling (PD)

UK

Metro Bank (MTRO) – not a conventional breakout but rising Trend Index indicates buying pressure.

Metro Bank (MTRO)

USA

Marathon Petroleum (MPC) – Trend Index troughs above zero indicate strong buying pressure.

Marathon Petroleum (MPC)

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.

Spirit of Texas Bancshares (STXB)

CURO Group Holdings (CURO) – Trend Index trough above zero indicates strong buying pressure.

CURO Group Holdings (CURO)

Curtiss-Wright (CW) – Trend Index trough above zero indicates strong buying pressure.

Curtiss-Wright (CW)

Acuity Brands (AYI) – Trend Index troughs above zero indicate strong buying pressure. Follow-through above 200 is bullish.

Acuity Brands (AYI)

Apollo Gloabl Management (APO) – Trend Index trough above zero indicates strong buying pressure.

Apollo Gloabl Management (APO)

Williams Companies (WMB) – Trend Index trough above zero indicates strong buying pressure.

Williams Companies (WMB)

Home Bancorp (HBCP) – shallow trough is a bullish sign. Trend Index trough above zero indicates strong buying pressure.

Home Bancorp (HBCP)

APA Corp (APA) – Breakout above 24.00.

APA Corp (APA)

Occidental Petroleum (OXY) – Breakout above 33.00.

Occidental Petroleum (OXY)

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.

Quote for the Week

In 2002 in Berlin, Pres. Bush told Chancellor Schroeder directly that Schroeder's decision to phase out nuclear power meant he was turning Germany's energy security over to Russia. Little did anyone know Schroeder would go on to become chairman of Rosneft.

~ Former WH Press Secretary Ari Fleischer, 7/11/18

(Hat tip to Luke Gromen)


Colin Twiggs is director of The Patient Investor Pty Ltd, an Authorised Representative (no. 1256439) of MoneySherpa Pty Limited which holds Australian Financial Services Licence No. 451289.

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