Quick Charting the Nine Uptrending Dow Jones Stocks Breaking to New Highs

Oct 23, 2013: 2:20 PM CST

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:

Dow Jones Industrial Average Stock Scanning Uptrends and Breakouts FinViz

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:

Dow Jones Industrial Average INDU DJIA Stock Scanning Breakouts and Uptrending Stocks Screen

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).

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