These 5 stocks are breaking higher out of excellent base patterns. In addition, the strength is coming from industry groups that are showing relative strength and buying on above average volume.
Stocks Breaking Out
Booz Allen Hamilton (BAH) surged 4.6% higher out of a flat base today closing up +4.45 at 100.88. Sanmina Corp. (SANM) gained 2.206%, while property and casualty insurance provider Kinsale Capital Group (KNSL) gained 1.59%. Eastern Bankshares (EBC) briefly broke above its pivot closing flat on the day. Consol Energy (CEIX) attempted a breakout but failed.
Booz Allen Hamilton (BAH) traded higher today closing at the top of its daily range on above average volume. Earnings have increased every year without fail, with an excellent growth rate of 21%. In addition, accumulation distribution ranking is A+ the highest possible, indicating institutions are building positions.
With earnings next week, we’ll look for price action to continue along this bullish path over the next few days.
Understand that buying just before a stock reports can be risky. You don’t know how the stock will report and how the market will react, and you don’t have enough time to build a profit cushion. You can reduce your exposure by waiting to see how the company reports and how the market reacts.