4 Stocks Breakout a Trendline Today | August 1

Inside this article you can find the companies that today showed the Trendline Breakout Chart Patterns. In addition, the companies shown here have a particular chart conformation that increases the probability of the positive trend continuing.

For each of the stocks included in this article, the following information is shown:

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  • Last Price:
    Closing price of the last trading session
  • Perf. 10-Years / Perf. since IPO:
    If the company has been listed on the stock exchange for at least 10 years, the wording “Perf. 10-Years” appears, containing the performance of the last 10 years. On the other hand, if the company has been listed more recently, the words “Perf. Since IPO” will appear, representing the performance since the day the company was listed on the stock exchange (IPO = Initial Public Offering).
  • Market Cap ($M):
    Market capitalization (in millions of dollars)
  • Perf. 1-Month:
    Performance over the past month
  • Perf. YTD:
    Performance since the beginning of the year (Year-To-Date)
  • Perf. 1-Year:
    Performance over the past 12 months

*if the company had not yet been listed on the stock market on the date useful for calculating the performance of the various periods indicated, the data shown reflects the performance from the day it was listed on the stock market.


What is a Trendline?

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A trendline is a line that combines a series of minimum or maximum to identify the presence of a trend. The trendline indicates a positive trend if it combines a series of increasing minimums, while indicates a negative trend if it combines a series of decreasing maximums.

If the company is in a medium-long term positive trend (increasing lows for several weeks or months) and shows a short-term negative trend (decreasing highs for days or weeks), the trendline breakout of this negative short-term trend increases the probability that the company will start growing again to follow the positive medium-long term trend.

So, within this article you will find companies that have breakout a short-term negative trendline and have increased their chances of resuming the positive medium-long term trend.

Real example of Trendline Breakout

Below is a chart of a company that appeared in a “Trendline Breakout” article here on BullDude.com.

Trendline Breakout: Shopify Inc (SHOP)

As shown in the chart, Shopify Inc (SHOP) breakout an important trendline on April 13, 2020, reported in the article published on the same day “3 Stocks Breakout a Trendline Today”. Since that day Shopify (SHOP) has grown by more than + 130% in just 3 months. The other 2 stocks included in the article were Domino’s Pizza (DPZ) which grew by + 8% in the same period of time and Kirkland Lake Gold (KL) which grew by + 23%.

How do I know if it’s a false breakout?

The breakout is defined as “false” when the positive trend that supported the price growth reverses the direction (going from positive to negative). To understand when this event occurs, there is a red half-line in the chart that indicates the level below which the positive trend can be considered concluded.

A few negative days are not enough to call it a “false” breakout because often the cause is natural temporary volatility (given by the retest of the signal level or profit taking or general market crash).


Today’s Trendline Breakout


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