Engineering and manufacturing software producer PTC Inc. joined the SIA S&P 500 Index Report back in April. For the second time in less than a year, PTC shares have staged a major breakout. Just as they did back in November, this week the shares have rallied to a new all-time high and completed a bullish Ascending Triangle pattern to signal the start of a new advance.
For the last six months, Monolithic Power Systems (MPWR), producer of power modules for semiconductors has been stuck in a sideways trading range between $300 and $400, consolidating previous gains. Since the last successful test of the channel bottom near $300, the shares have been under renewed accumulation, consistently climbing back up to the top of their range.
Colliers International (CIGI.TO) shares have been under accumulation, establishing an upward trend of higher lows and completing a series of bullish Ascending Triangle breakouts as it climbs in a step pattern. recently returning to the Green Favored Zone of the SIA S&P/TSX Composite Index Report from a dip down into the yellow zone. Yesterday, Colliers finished in 44th place, up 7 spots on the day and up 18 spots in the last week.
Dover Corp. (DOV) staged a major breakout yesterday, blasting through the top of a $143 to $155 consolidation range which had been in place since April to a new all-time high. This move occurred on a spike in volume, indicating increased investor interest and the start of a new advance.
Less than a week after reporting strong quarterly results, Bank of America (BAC) has dropped out of the green zone of the SIA S&P 100 Index report into the Yellow Neutral Zone for the first time since February as traders continue to take profits against the news. Yesterday the shares finished in 26th place, down one spot on the day and down 12 places in the last month.
The recovery trend in Marathon Petroleum (MPC) shares which started with a breakaway gap last October, appears to have run out of steam for now. The shares were unable to overcome previous resistance near $65.00 last month. In the last two weeks, the shares appear to have come under distribution, falling on increasing volumes, snapping an uptrend line and diving back under $60.00.
A major breakout is underway in Apple (AAPL) this week with the shares blasting through $145 to a new all time high, with the completion of a bullish Ascending Triangle ending a consolidation phase and signaling the start of a new advance. This move also indicates that the uptrend which started back in March of 2020 but slowed earlier this year has resumed in earnest.
A major breakout is underway in Estee Lauder (EL) shares. For over a year, the shares have been trending upward in a step pattern of rallies followed by periods of consolidation at higher levels. Consistently higher lows indicate steady accumulation and consistent investor support.
Boardwalk REIT has returned to the Green Favored Zone of the SIA S&P/TSX Composite Index Report for the first time since 2018. Since bottoming out in March of 2020, shares have been steadily recovering lost ground, advancing in a step pattern of rallies followed by consolidation at higher levels, and completing a series of bullish Ascending Triangle patterns.
Back in May, Albemarle (ALB) shares broke out of a Symmetrical Triangle which suggested they were resuming a long-term uptrend after a correction. Yesterday, the shares blasted through two resistance levels, including their previous peak set back in January to a new all-time high on a big jump in volume, completing two bullish Ascending Triangle patterns, indicating strong new investor interest and signaling the start of a new advance.
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