The purpose of the article is to show readers some companies that could potentially breakout a resistance shortly. Unlike the other articles that is published here on BullDude.com which refers to companies that have already breakout a resistance, this article shows some companies that have a chart configuration that increases the probability to breakout the next resistance and continue the positive trend. By anticipating entry, the potential gain may be greater, but the potential risk is higher.
What is a Resistance?
Resistance is a price level within a positive trend in the stock price that stops growth and does not allow for continuation, so it is an obstacle. In order for the stock price to continue growth it must overcome this obstacle, i.e. reach a price level above the resistance.
So knowing which companies have just overcome this hurdle and are ready to continue growth is very useful information.
Precisely for this reason within the BullDude.com Membership you will find every day an article called “Resistance Breakout” containing the best companies that have just overcome this obstacle but also an article called “Potential Breakout” containing companies that have not yet overcome this obstacle (Resistance) but have a good chance of doing so in subsequent trading sessions.
In the image above you find an example of this type of article called “Potential Breakout: 4 Interesting Stocks To Watch” published on June 18, 2020 here on BullDude.com where the company Fiverr International Ltd. (FVRR) was reported because it showed a good chance of overcoming the resistance to $ 73 (black line) in subsequent trading sessions. In fact, it did it in just 5 days and the price went from $ 68 (on the day the article was published) to over $ 122 (+ 80%) in the next 2 months.
In mid-February 2021, the price of Fiverr International Ltd. (FVRR) reached $ 335 per share (+ 380%)
How do I know if it’s a false potential breakout?
The potential 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” potential breakout because often the cause is natural temporary volatility (given by the retest of the signal level or profit taking or general market crash).
Potential Breakout
Inside the charts below there is a black half-line (with relative price) which represents the first resistance where the breakout can occur and continue growing.
Company 1:
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Access hundreds of exclusive content with the BullDude.com Membership
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In BullDude.com Membership you will find exclusive content in one place:
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Stocks and Cryptocurrencies that show the best Chart Patterns.
Resistance and Key Moving Average Breakout, Potential Breakout and Buy The Dip.
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Stocks with growing Key Business Data and estimates of further future growth.
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Stocks that are about to release the Earnings Reports and Pre-Market movers.
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