Thursday January 2, 2025 Stocks Breaking Out Of A Base 199 Days Ago $PTEN $ZIM $OXY $NNOX $TGT $RIG $ROST $VST $DVN $GUSH $U $ERX $NBIS $XOM

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Rank Ticker Days Since Previous High
1 PTEN 23
2 ZIM ðŸš€ ðŸ“ˆ 22
3 OXY 19
4 NNOX ðŸ“ˆ 16
5 TGT 16
6 RIG 12
7 ROST 12
8 VST ðŸ“ˆ 12
9 DVN 11
10 GUSH 11
11 U ðŸš€ 11
12 ERX 9
13 NBIS ðŸš€ ðŸ“ˆ 9
14 XOM 9
15 PINS 8
16 UBER 8
17 VZ 8
18 AEO ðŸš€ 7
19 JNUG ðŸš€ ðŸ“ˆ 7
20 PBR 7
21 MDB ðŸš€ 6
22 GS 5
Stocks Breaking Out Of A Base

In stock trading, a "consolidation" period is a phase where a stock's price trades within a narrow range, often with decreasing volume. This represents a period of market indecision, where buyers and sellers are in a relative balance. The "good" thing about a stock breaking higher out of this consolidation is that it can signal the start of a new, powerful uptrend. A breakout to the upside suggests that buyers have finally overwhelmed sellers, and the accumulated energy from the consolidation period is being released in a bullish direction. This is often accompanied by a significant increase in trading volume, which confirms the conviction of the move. The longer and tighter the consolidation, the more significant the potential breakout. For traders, a breakout from consolidation can provide a low-risk, high-reward entry point. The resistance level that defined the top of the consolidation range now becomes a new support level. This provides a clear area for traders to place a stop-loss order, helping to manage risk. The potential for a strong, sustained move higher makes this a favorite strategy for identifying new momentum plays.