Market has lost a bit of momentum in recent days. Follow through on breakouts is a bit of problem.
A stock that breaks out should find intraday momentum rather than fading. After a breakout stock should immediately have 3 to 5 days follow through before a pullback. Many stocks are just giving up gains post breakout.
A slow selling is apparent in number of stocks. But the selling is more like orderly pullback and not breakdowns.
As of now this looks like slow sideways move.
Stocks priced above 20 and with minimum liquidity of 100000 in last 3 trading days. Stocks are ranked by momentum.
- acat (setting up for breakout)
- stx (setting up for a breakout)
You will see that most of these are extended currently.