Top Advisors Corner

Here's One Financial Service Stock Breaking Out


Hello fellow StockCharts users! With markets free-falling and stocks pulling back to their 200-day moving averages, it may be hard to find a stock that's actually breaking out. Well here's a name that you can consider...

Virtu Financial (VIRT) is a financial service company that has had quite the bear market, going from 2018 all the way to 2020. However, right now the stock is breaking out of its downtrend going all the way back to the top in 2018. Price is now above the 40-week moving average or the 200-day moving average and is offering a potential nice risk/reward. We can also see that the SCTR has surged past 75, while the relative performance indicators relative to the $SPX & XLF are showing signs of breaking out. As a potential target, we can look at the $25 level as previous support becomes new resistance.

- Aleksandar Bozic

Aleksandar Bozic
About the author: is the founder of the Bozic Market Report. He previously worked at ValueTrend Wealth Management as a Technical Analyst Associate. He also founded the Ryerson Society of Technical Analysts and became the first student ambassador for the CMT Association. He now serves as Chapter Assistant for the Toronto wing of the CMT Association. Learn More
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