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Charts courtesy of stockcharts.com

Wednesday, June 27, 2012

Price Relative Scans

Here is the price relative scan for Wednesday: no 200 or 100 day breakouts, 4 50 day breakouts (Finviz screen here), and 10 20 day breakouts (here).

Ticker 20 day 10 day 5 day
MWIV 7 5 4
SBAC 5 5 4
TAYC 4 4 4
AKRX 4 4 4
WFM 4 4 4
AEPI 5 4 4
DVA 10 7 3
KBALB 10 6 3
TWTC 12 3 3
NLNK 7 6 3
POOL 6 6 3
ADS 5 5 3
CLDT 3 3 3
SIX 6 3 3
LNDC 4 4 3
PEBO 3 3 3
ALXN 3 3 3
DF 9 6 2
DEST 7 7 2
WWWW 7 6 2

In order to qualify as a breakout, a stock has to hit a new 200 day high in price relative no earlier than 6 days after the previous time it hit a new high, which means that stocks that repeatedly hit new highs are not picked up in the scan. That serious flaw in the logic finally occurred to me about a month ago, and I began tracking the stocks that were hitting new highs, not qualifying as breakouts, and showing strong 200 day trends in price relative. The table above contains the strongest of those stocks, ranked by the number of new highs hit in the last 5 days. I will run this table at a minimum a couple of times a week, and possibly daily if it is not too time consuming.

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