Tuesday January 7, 2025 Stocks Breaking Out Of A Base 161 Days Ago $NOK $NVDA $ULTA $RUN $DVN $RIG $SNAP $BAC $AMD $SLB $JNJ $NET $PBR $ROKU

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Rank Ticker Days Since Previous High
1 NOK ðŸš€ 40
2 NVDA 30
3 ULTA 20
4 RUN ðŸš€ 19
5 DVN 17
6 RIG 17
7 SNAP 17
8 BAC 16
9 AMD 15
10 SLB 13
11 JNJ 12
12 NET 12
13 PBR 12
14 ROKU 12
15 IREN ðŸš€ 10
16 DKNG 8
17 DIS 7
18 GME ðŸš€ 7
19 SIRI 7
20 XPEV ðŸš€ 6
21 DAL 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.