Thursday December 26, 2024 Stocks Breaking Out Of A Base 200 Days Ago $GME $LUNR $OKLO $RKLB $BBAI $CSCO $EH $M $RDDT $GM $XPEV $NIO $OXY $MMM

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Rank Ticker Days Since Previous High
1 GME ðŸš€ ðŸ“ˆ 20
2 LUNR ðŸš€ ðŸ“ˆ 18
3 OKLO ðŸš€ ðŸ“ˆ 18
4 RKLB ðŸ“ˆ 17
5 BBAI ðŸš€ ðŸ“ˆ 12
6 CSCO 12
7 EH ðŸ“ˆ 12
8 M ðŸš€ 12
9 RDDT ðŸš€ ðŸ“ˆ 12
10 GM ðŸš€ 11
11 XPEV ðŸš€ ðŸ“ˆ 11
12 NIO ðŸš€ ðŸ“ˆ 10
13 OXY 10
14 MMM 9
15 JPM 8
16 PTEN 8
17 HPE 7
18 ROST 7
19 AVGO 6
20 BTDR ðŸš€ ðŸ“ˆ 6
21 SERV ðŸš€ ðŸ“ˆ 6
22 BABA 5
23 C 5
24 COF 5
25 F 5
26 INTC ðŸš€ 5
27 NNOX ðŸ“ˆ 5
28 QS ðŸš€ ðŸ“ˆ 5
29 RGTI ðŸš€ ðŸ“ˆ 5
30 SOUN ðŸš€ ðŸ“ˆ 5
31 TGT 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.