Breadth bounces back a bit | stockbee


Breadth bounces back a bit

The market continues to be in a range bound correction phase. The Worden T2108 indicator dropped to 20 from a high readings of 88. In last few weeks it has climbed back to 60% level. So as of now 60% of the stock in Worden universe are above their 40 day moving average.

On our breadth model the breadth has been below average for a sustained rally. As of now we do not have a breadth thrust. Most rallies start with a big breadth thrust of 2 plus in their first few beginning days. A series of big breadth days can change that.

On individual stocks some setups look attractive on selective basis. Some of the stocks likely to breakout in next few days are:

  1. RDEN
  2. AAPL
  3. VAC
  4. TWER
  5. CKEC
  6. PHH
  7. ACTV
  8. XPO
  9. RUTH
  10. AMCX

1 comment:

neelkanth said...

The market trend so indicated in the post is just quite meaningful.