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Express Checkout: Breakouts

These are stocks that have broken out to new highs (52-Week, 6-Month, or 3-Month highs) from a consolidation of at least 4 weeks in length (effective Apr21,2003: 2 weeks in length); however, since this is an Express Checkout screen, only stocks with a 1-Year Performance Ranking of 70 or above are shown. It is essentially a subset of the Ceiling Bursters screen.

Stocks in this screen must satisfy the following requirements:
  • The stock has achieved a new period high
  • The breakout is from a base of at least 4 weeks in length (effective Apr21,2003: 2 weeks in length)
  • The price advance for the week must be at least 3%
  • The 1-Year Performance Ranking is at least 70
Stocks included in this screen are sorted in descending order by the number of weeks it had been since they had achieved the previous old high, so the stocks at the top of the tables are those that had been basing the longest before they hit their new high.

Before you decide to buy one of these stocks, make sure that it pierced through the resistance to its new high on heavy volume. As mentioned in the New Highs and Volume section, you want a stock that has a big buying commitment behind it.

If you find a stock that looks compelling, you can buy it right away or wait for a pullback. But be careful of chasing a stock that has extended itself far above the prior resistance level.

See Express Checkout: Breakouts table from several weeks ago.
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