Breakout Up

[zippy]

This is a breakout up. It would be interesting to devise some kind of method to go through these shares to find the support/resistance levels, that is if they have not already been breached.

http://www.advfn.com/cmn/tl/breakouts.php?week=1&type=P&direction=U

 

[darth trader]

zippy,
you need to have a premium account at advfn to access this url nowadays though it was free for a short while when it was introduced.

I use metastock and sharescope to look for breakouts though I usually find that a simple approach to support and resistance is best - eg. a stock that's making a new high today but didn't yesterday.

You can also look for volume and gaps for additional information.

advfn gives real-time info though I only have end of day tools.

I've tried a variety of methods for finding good trading candidates and from a TA point of view breakout related signals are the most useful. They also tie in with the concept of buying a stock when it is making new highs.

 

[zippy]

darth trader

I do have have a premium account at advfn, I think I could be breaching thier rules by pasting this information
here. I was just wondering whethr there was a swifter way of looking at support/resistance levels.
Thanks for your comments. By the way I use Market Eye and AIQ.
Had I noticed Royal Sun a few days ago I would have shorted it!

 

[darth trader]

within metastock I use the following code:

c > ref(hhv(c,28),-1) and
ref(c,-1) <= ref(hhv(c,27),-2)

for a short term break through resistance. I'm sure that AIQ will allow you to do something similar.

There are also various other functions available eg. pricechannelhigh()...

 

[darth trader]

sorry, I should add

c is the closing price
hhv() is highest high value of specified period and
ref() is an indexing function eg -1 is yesterday