These NYSE stocks are forming as breakouts, a dots and figures chart term for a generally positive setup in these situations. The reason to use pnf price charts is the clarity they provide. When you see the x’s and o’s line up over a particular time frame, you can begin to understand why some analysts still use it.

X represents the upward movement of a dollar and O represents the downward movement of a dollar. This method provides a trader or investor with the ability to quickly identify support and resistance levels. It also shows the direction of the trend and makes it easier to see when the trend is breaking.

Another advantage: It has largely fallen out of favor among Wall Street money managers with statistics degrees and MBAs who consider the method too old-school in the age of algorithms and artificial intelligence. Viewed from a contrasting perspective, this makes the dot and figure chart a valuable resource.

NYSE Stocks With Breakout Pattern.

adecoagro.

The Luxembourg-based agricultural products company has a stock that goes up to $12 and then sells off. As you can see on the chart, it was at this price and pulled back in 2012, 2022, 2023 and early this year. Higher lows since 2020 suggest buyers may break above this resistance level next time. Market capitalization is $1.18 billion. With a price-to-earnings ratio of 5.70, Adecoagro is trading at 87% of its book value.

Banco de Chile.

In March, the stock broke above the $21 resistance zone and continued to rise to $25 until some selling occurred. As the price chart analysis says, a test of $21/$20 can be expected if the former resistance becomes support. Banco de Chile’s market capitalization is $11.84 billion. It’s trading lightly, with average daily volume of 161,000 shares.

Clearwater Analytics Holdings.

Shares of the software application company broke above the $21 resistance level in August and are currently challenging the 2021 resistance at $27. A closing price above this may indicate an uptrend. Market capitalization is $6.59 billion. Citigroup analysts began covering the stock with a “buy” rating and a $28 price target earlier this year.

VanEck Vectors Gold Miners ETF.

This exchange-traded fund of 61 gold mining stocks recently broke above its 2020 high of $43. It pulled back from that breakout as sellers stepped in, but it remains bullish throughout the year and since the 2022 lows. The three largest holdings are Newmont, Agnico Eagle and Barrick Gold.

mednax.

After several years of a downward trend, this medical care stock bucked the trend this year. The “triple top breakout” of $10 occurred on August 19, and you can see that the price has risen to the current level of $15. It is impossible to know whether this move will continue upwards, but the break above the red downtrend line in 2021 is clear.

No artificial intelligence was used in the writing of this article.

More price chart analysis and commentary johnnavin.substack.com.