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:
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.
- 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
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.