CenterState Banks (CSFL) showed up on the Parabolic predefined scan today. With a really nice high volume push off support, the stock looks set to break above the table top it has built over the last year. This $26 level has been hard to push through. With the solid volume that was more than double the average, the breakout of this 6-week downtrend is attracting some interest.
As the popular names are continually waved in the press, some of these other companies look to be building solid setups.
I have recorded two videos this week. One for Canadian investors highlighting the divergence in the Canadian market relative to the US market.
As well Chartcon 2018 opened for registration today! Chartcon 2018
Greg Schnell, CMT, MFTA.
About the author:Greg Schnell, CMT, is a Senior Technical Analyst at StockCharts.com specializing in intermarket and commodities analysis. He is also the co-author of Stock Charts For Dummies (Wiley, 2018). Based in Calgary, Greg is a board member of the Canadian Society of Technical Analysts (CSTA) and the chairman of the CSTA Calgary chapter. He is an active member of both the CMT Association and the International Federation of Technical Analysts (IFTA).