'Upside Breakouts' - New, Established, and Pending Breakouts

Andrew Severino Author is a PRO member Rank: 97 Followers: 2 Votes: 0 Years Member: 0 Last Update: 11 April 2018, 20:25 Categories: Chart Patterns
Momentum Stocks
Support / Resistance Lines

The purpose of this ChartList is to identify, analyze and track existing breakouts, as well as identify stocks which look like they may be getting ready to breakout while consolidating or forming a base prior to a trend reversal. Primary signals are based on price, support and resistance, and technical confirmations of trend and demand vs supply.


000 CNH Industrial NV (CNHI)

001 Adobe Systems, Inc. (ADBE) Upside Breakout 2017-10-19

2017-10-19 Breakout!

2017-10-27 Update: All is well with this chart. Adobe is making new Lifetime Highs and price is confirmed by accumulation.

001 Xunlei Limited (XNET)

002 Chubb Ltd. (CB) 2017-10-16

005 NEW 2017-10-13: Southern Copper Corp. (SCCO) BREAKOUT! 2017-10-12 Daily

2017-10-11: Risk On! Southern Cooper Breakout! Above 7 Year Resistance late September is confirmed! An upward break above this leg term resistance suggests this could be a big move.
2017-10-13: Successfully tested resistance now support yesterday, gapping up today following yesterday's very bullish candlestick. Price action has been strong, confirming breakout +9% in 12 days. Technicals look strong, new highs in OBV and Accumulation / Distribution confirm demand for SCCO shares. Q3 Earnings 10/26 - Copper Prices have done well in Q3.
2017-10-16 Update: Rather than fill the upward gap from yesterday, SCCO opened further to the upside as $COPPER made 3 yr highs. The longer upper tail on today's candlestick suggests some selling into the highs of the day, nonetheless price held up closing up 1.25% With $COPPER making new highs, SCTR increasing to 93.3, confirmation in OBV and room to run on the RSI, higher prices into Oct 26th earnings seems realistic. See weekly chart below for the bigger picture.
2017-10-17 Update: At market open SCCO sold off for an hour, and rallied 2% making new highs on the Accumulation/Distribution line. While SCCO closed down .5% for the day, the long tail on the candlestick bouncing off of upward trending resistance now support demonstrates buyers were in control from 10am to market close.
2017-10-19 Update: SCCO opened lower, shares rose throughout the day as accumulation continued. Up-trending support line (dashed grey) held perfectly in early trading. Candlesticks suggest a tug-of-war between buyers and sellers price holds above most recent upward break. Gap up form Oct 13 has been filled while also showing a near-term support area.

006 NEW 2017-10-13: SCCO - BREAKOUT Above 7 year Resistance Weekly Candlesticks, 1280

2017-10-13: Up 3.65% for the week, Southern Copper's relative strength is strong with a SCTR ranking of 91.5, making a new high relative:$SPX. Having bounced off of 7 year resistance now support around 39.50 in late September, SCCO is making higher highs and higher lows holding above more recent resistance just below 42. With plenty of room on RSI and strong demand, we may see a nice rally here. Will the upward momentum continue next week?
2017-10-20 Update: Earnings report came, and SCCO beat estimates by $.06 due to higher copper prices. So we got that right, although it looks like that was baked into the stock's price already. Nonetheless, new highs were made this week and the breakout is still intact.
2017-10-27 Update: Closing down 2 weeks in a row, and closing gaps on daily chart while breaking most recent support, SCCO bounced off support at 41.75 after taking new highs this week. If SCCO can hold and move higher this upcoming week, breakout is extended.

010 3M Co. (MMM) 2017-10-4

10-4-2017: MMM shows a double top breakout on a Point and Figure Chart as price cleared 216.
10-6-2017: MMM closed the week at 216.52, holding above support and logging new highs. Technicals remain strong, continuing to trade around the upper levels of the exponential moving average envelope and just above the center of the upward trending price channel. Accumulation/Distribution continues upwards with a new high as well.
10-12-2017: All is well with MMM today. Yesterday's selling was absorbed quite nicely as buyers pushed price back near the highs for the day at the close. Today's price action, on decent volume, looks like buyers are back in the driver's seat. Technicals look good as MACD is turning back up and Accumulation made a new high.
10-13-2017: 3M made a new 52 wk high today...again. Shares opened strong gapping up, peaked at 219.76, and got sold back down closing flat. While selling pressure knocked MMM down, higher highs and higher lows show uptrend intact.
10-19-2017: Shares closed at the high today. MMM continues to move up steadily, in the middle of the price channel that has been in place for about six weeks, and in the upper portion of the EMA envelope.
10-24-2017: 3M was up $17.35 intraday on EARNINGS BEAT before market open, gapping up and closing +5.9% for the day. On strong volume. Good things happen to good stocks! Uptrend intact!

011 3M Co. (MMM) Momentum - MAP SYNTAX

2017-10-7: After studying Stephen Stewarts Map Syntax Public ChartList https://stockcharts.com/public/1130973 , I began to apply Stephen's materials to charts on this list. What I find very interesting here is that his model not only appears to confirm the breakout identified in Chart 010 that I started on Oct 4, I applied his models on this chart to a nice move beginning Feb 13, 2017. I have annotated that move in the green shade area and found that not only did the Map Syntax 'Rules of Engagement' work very well, Stephen's use of RSI, On Balance Volume and Relative Strength to $SPX gave an early warning of a few weeks to the July 12th 'trim or sell' date, which was confirmed by a MACD sell signal and A/D line breakdown on that date. Were a momentum trader only using the MACD and A/D line in conjunction with the RSI, $10-15 in share price may have been left on the table due to a gap down the following week (see daily chart #010) , simultaneously missing a nice entry point as MMM rallied off support at 197/198 just above the dotted upward trendily on this chart. It sounds to me like the Map Syntax 'Rules of Engagement' call for risk on this week, with a sell stop below 212/210, or the 10 period EMA.
2017-10-13 Update: Weekly close slightly higher, new 52 week high,, upward momentum waning. MACD looks good, OBV and Accumulation / Distribution not confirming new high. If they don't improve, an 8-10% retreat is not unrealistic.
2017-10-20 Update: 3M made a nice move today and closed the week @ new 52 week high. On the daily chart, it looks like waning interest has been rekindled.
2017-10-27 Update: Stellar earnings pushed MMM higher yet again, closing up 6% for the week. The chart shows 3 back-to-back breakouts since February, each returning respectable gains.

012 AbbVie Inc. (ABBV) Poised for Back-to-Back Upside Breakout? 2017-10-4

2017-10-7 Update: As shown in the weekly chart below (#013 ABBV - Momentum MAP SYNTAX), Abbvie has been on a 5 week tear after a month of consolidation in August. I guess it was resting, after it broke out from a 34 month base-building consolidation period. This past week, after recovering from severely over bought territory per RSI and MACD, it managed to close friday ABOVE resistance turned support at 88-90, logging new highs yesterday (Friday 10/6) above 91. With RSI just above 70 at 71.47, buying pressure on good volume in the upcoming week should turn MACD positive with a buy signal. If sellers prevail this week, ABBV could break below the price channel (dotted lines) and return to the trading range between between 83 and 90 it just emerged form. After the move in this stock, you cannot blame sellers for taking profits. However, with all the positive news that has come out recently and the breakout on the P and F chart, we may see another leg up into the rest of the year. I will be watching the stock this week.

2017-10-10 Update: ABBV seems to be breaking out as buyers overwhelmed sellers, making a new high on the Accumulation / Distribution line and closing at the near the high for the day just $.16 below the very recent new 52 week high. A close on Friday above 90 with the MACD crossing over would increase confidence. Price today bounced right off of recent resistance now support like clockwork. MACD is a legging indicator, it does look like it is trying to cross over creating a buy signal.

2017-10-13 Update: Buyers gave up ground. Likely test of recent support @ 89.10. Weekly chart below suggests higher prices.

2017-10-18 Update: +4.2%! Good things happen to great stocks! Today ABBV claimed #3 SCTR ranking, beating out Align Technology. MACD crossed finally to confirm upward momentum, Accum / Distribution line made new high. I'm thinking this move is far from over.

2017-10-24 Update: Profit taking in ABBV extended today. Earnings report is 10/27 before market open.

013 ABBV - Momentum MAP SYNTAX

On this chart I am borrowing from Stephen Stewart's Momentum Model 'map Syntax' https://stockcharts.com/public/1130973

2017-10-7: Map Syntax ROE call for a buy on the dip should ABBV pull back to for a bounce off of the 10 period EMA. While RSI looks overbought, OBV and Accumulation/Distribution show a serious commitment by buyers during the last few weeks. MACD and ABBV:$SPX confirm demand and performance. This should be an interesting week for ABBV. Should the stock meander around between 83 and 90, that may be an opportunity to accumulate shares before another run like it did in September. Any short term weakness or stalling in the stock I will be chalking up to well justified profit taking as ABBV gained roughly 18% in September alone.

2017-10-13: ABBV weekly chart looks good, technicals confirm new highs, currently overbought; maybe getting ready for a rest. Earnings Oct 27 could be a catalyst to higher prices as these guys bank $$!

2017-10-20: ABBV closed 6% higher this week, posting +28% gain for this 7 week and counting breakout.

2017-10-27 Update: ABBV sold off all week before Friday's earnings, which were above expectations. It closed down for the week, bouncing beautifully off the 50 day moving average on Thursday. What a buying opportunity that was. Dividend was increased 11%, now yielding over 3%. ABBV's history of rewarding shareholders with dividend hikes is one of the primary reasons I own this stock.

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