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Breakouts for July 29th:
Thin pickings in a volatile market. Penny stock,
EGSR, gained on heavier volume for a second
day, but today's small real body should be viewed with concern by
the bulls. A better entry price is likely over the coming days,
GTC orders around $0.45 should be good to be filled. Resistance
at $0.57 should stall the move for a couple of weeks before the
main upside break to $1 resistance begins. There was no
stock related news to account for the current move. FMC
rallied on earnings
news. Prices are likely to retreat into the body of todays large
white candlestick, so GTC orders around $40-41 would provide a better
risk:reward than buying todays close. Overhead resistance sits a
short distance away at $45. Beyond that there is no overhead resistance.
The stock rallied strongly off $14.22 lows and is in the latter
stages of a mature rally. It remains vulnerable to a more prolonged
pullback. A high volume move above $45 followed by a close below
$45 should be a red flag for a potential bull trap (and lower prices
ahead). GRMN is in the process of building
a bottom to its base. Todays strong earnings
limits further downside risk. The rising support line connecting
low of $28.08 and $30.53 should be used for a trailing stop. Todays
erratic trading (today ended on a neutral spinning top ie. neither
bulls or bears are in control) with a wide spread between the days
highs and lows should be viewed with caution. GTC orders near todays
lows will give a better risk:reward, as would raising the stop to
below the rising trendline. For the purposes of my analysis, risk:reward
is worked from today's close and the prior reaction low.
| $0.50 |
$0.36 |
$0.96 |
$0.49 |
$0.57 |
3.3 |
n/a |

Back
to top
| $43.65 |
$38.71 |
$49.84 |
$43.25 |
$45.00 |
1.3 |
B |

Back
to top
| $37.74 |
$31.49 |
$43.14 |
$37.00 |
$44.50 |
0.9 |
B- |

Back
to top
"IBD"
refers to Investors Business Daily |
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Prior breakout candidates: Breakout
home, 1Sep04,
2Sep04,
3Sep04,
7Sep04,
8Sep04,
9Sep04,
10Sep04,
13Sep04,
14Sep04,
15Sep04,
16Sep04,
17Sep04,
20Sep04,
21Sep04,
22Sep04,
23Sep04,
24Sep04,
27Sep04,
28Sep04,
29Sep04,
30Sep04,
1Oct04,
4Oct04,
5Oct04,
6Oct04,
7Oct04,
8Oct04,
11Oct04,
12Oct04,
13Oct04,
14Oct04,
15Oct04,
18Oct04,
19Oct04,
20Oct04,
21Oct04,
22Oct04,
25Oct04,
26Oct04,
27Oct04,
28Oct04,
29Oct04,
1Nov04,
2Nov04,
3Nov04,
4Nov04,
5Nov04,
8Nov04,
9Nov04,
10Nov04,
11Nov04,
15Nov04,
16Nov04,
17Nov04,
18Nov04,
22Nov04,
23Nov04,
24Nov04,
26Nov04,
29Nov04,
30Nov04,
1Dec04,
2Dec04,
3Dec04,
6Dec04,
7Dec04,
8Dec04,
9Dec04,
10Dec04,
13Dec04,
14Dec04,
15Dec04,
16Dec04,
17Dec04,
20Dec04,
21Dec04,
22Dec04,
23Dec04,
28Dec04,
29Dec04,
30Dec04,
3Jan05,
4Jan05,
5Jan05,
7Jan05,
10Jan05,
11Jan05,
12Jan05,
13Jan05,
18Jan05,
19Jan05,
20Jan05,
21Jan05,
24Jan05,
25Jan05,
26Jan05,
27Jan05,
28Jan05,
31Jan05,
1Feb05,
2Feb05,
3Feb05,
4Feb05,
7Feb05,
8Feb05,
9Feb05,
10Feb05,
11Feb05,
14Feb05,
15Feb05,
16Feb05,
17Feb05,
22Feb05,
23Feb05,
24Feb05,
25Feb05,
28Feb05,
1Mar05,
2Mar05,
3Mar05,
4Mar05,
8Mar05,
9Mar05,
10Mar05,
11Mar05,
14Mar05,
15Mar05,
16Mar05,
17Mar05,
21Mar05,
22Mar05,
23Mar05,
24Mar05,
28Mar05,
29Mar05,
30Mar05,
1Apr05,
4Apr05,
5Apr05,
6Apr05,
7Apr05,
8Apr05,
11Apr05,
12Apr05,
13Apr05,
14Apr05,
18Apr05,
19Apr05,
20Apr05,
21Apr05,
22Apr05,
25Apr05,
26Apr05,
27Apr05,
28Apr05,
29Apr05,
1May05,
2May05,
3May05,
5May05,
6May05,
9May05,
10May05,
11May05,
12May05,
13May05,
2Jun05,
3Jun05,
6Jun05,
7Jun05,
8Jun05,
9Jun05,
10Jun05,
13Jun05,
14Jun05,
15Jun05,
16Jun05,
20Jun05,
21Jun05,
22Jun05,
23Jun05,
24Jun05,
27Jun05,
28Jun05,
29Jun05,
30Jun05,
1July05,
5July05,
6July05,
7July05,
8July05,
11July05,
15July05,
18July05,
19July05,
20July05,
21July05,
22July05,
25July05,
26July05,
27July05,
28July05,
29July05,
1Aug05,
2Aug05,
3Aug05,
4Aug05,
5Aug05,
9Aug05,
10Aug05,
11Aug05,
12Aug05,
15Aug05,
17Aug05,
18Aug05,
19Aug05,
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