Quick Charting the Nine Uptrending Dow Jones Stocks Breaking to New Highs
A quick scan of the Dow Jones Industrials (30) stocks reveals nine names in a strong uptrend breaking to new highs.
Let’s take a moment to highlight these stocks and compare their daily charts for possible trading candidates:
Using clean charting data from FinViz.com (one of my favorite trader websites), we see the uptrending and breakout candidates in the Dow Jones Industrial Average.
There’s a little something for everyone:
- American Express (AXP) broke free of a sideways/horizontal trading range or channel
- Pfizer (PFE) similarly broke free of a near-perfect symmetrical triangle
- Boeing (BA) and MMM (MMM) continue to trade within tight yet strong rising parallel trendline channels
- General Electric (GE) and Visa (V) also trade within wider rising parallel patterns
- Disney (DIS) and Travelers (TRV) broke horizontal resistance trendlines
StockCharts presents similar chart-data in a different format:
Nevertheless, all stocks above recently broke to new chart highs and are thus on breakout watchlists as potential trading candidates, either on the breakout itself or on a future reaction/retracement opportunity.
I’ll be discussing breakout, retracement, and reversal trading tactics live at the Las Vegas Traders Expo on November 22 – join me and your fellow traders at the free expo!
Corey Rosenbloom, CMT
Afraid to Trade.com
Follow Corey on Twitter: http://twitter.com/afraidtotrade
Corey’s book The Complete Trading Course (Wiley Finance) is available along with the newly released Profiting from the Life Cycle of a Stock Trend presentation (also from Wiley).