Knight Therapeutics (GUD.TO) has been basing nicely over the last few years. Two weeks ago it broke out from the base. Last week it printed a very weak candle so the breakout was looking a little suspect. However, this week, it has continued to climb.
The Relative Strength compared to the $SPX is breaking out to new 52-week highs. With the SCTR breaking back above 75 as the stock breaks above former resistance, this looks pretty attractive. This means that the stock price is moving faster than 86% of the stocks in Canada right now.
With the MACD turning up this looks like an interesting stock that is non-correlated to the overall market pullback.
Greg Schnell, CMT, MFTA.