RE: US Stocks Breakouts & Breakdowns - SP500, NYSE, & Nasdaq Stock Charts
MOH, RGEN and SIMO
I have a feeling that this list is less of a watchlist rather than things that came out my screener initially looking good, but after deeper inspection, are less good. Still interesting, will have to see if these fail or do work. I suspect that they are more likely to fail for the reasons below.
MOH:
On the 2y chart this looks like a reaonable continuation. On the 6m one I note the hammer with the long tail and then the breakout, both with strong volume. But this is a large jump up rather than volatility contraction.
RGEN:
Breakout is a few days old. Chart pattern in terms of weeks / month seems to be the opposite of a volatility contraction, though on a shorter time scale you could argue that it has contracted.
SIMO:
Prety much the same situation as MOH, except that it was falling back on the 2y chart as well. So there is zero short term support near the breakout.