New Highs in Market Leaders

June 10, 2013

Uncategorized

By Geoff Bysshe


When the market pulls back from a 52-week high and holds support the question on everyone’s mind is whether or not new highs are in the cards. Regardless of the result, any attempt to move back to the highs can create explosive moves in stocks that are already there.

In other words, when the market looks like it may be in the process of resuming an uptrend, I like to know which stocks are leading by breaking out to new 52-week highs on big volume.

Below you’ll find the results of a simple Big Volume scan with the additional filter that the stock’s high of the day is a 52-week high.

HSBlog-20130610-52wkHighs

Setting up this scan was as simple as electing a basic Big Volume now scans and then changing the Historical Range filter you see below.
(click the image to enlarge it)

SHBlog-52wkhigh-Filter

This is a scan worth looking at daily for stocks that are worth trading as market leaders. You’ll also pick up on market trends like one you can see here today – there are quite a few financial related stocks on this list – GS, MS, AXP, PRU. And they’ve all got very interesting charts.

Two energy names, OAS and MUR also both have similar and interesting charts in that they are breaking out of big weekly patterns.

But you don’t have to be particular about industry groups. There are several other very good looking charts on this list.

If you have questions about how to read the HotScans table you can click here to learn more.