Top ASX breakout stocks 16 to 20 Sep

top ASX breakout stocks

We examine the data generated by our ASX breakout stocks scan. Here are this week's top 10 breakouts, ranked by % gain since breaking out.

Ticker (click
for chart)
Closing
price
Breakout
level
Breakout
date
% gain
since
KYK 0.24 0.105 19 Sep +128.6
BET 0.10 0.08 18 Sep +25.0
AQX 0.027 0.022 20 Sep +22.7
BNO 0.049 0.04 19 Sep +22.5
WHA 0.545 0.45 20 Sep +21.1
GPR 0.036 0.03 18 Sep +20.0
WKT 0.28 0.235 16 Sep +19.1
GED 0.032 0.027 18 Sep +18.5
CLV 2.55 2.17 19 Sep +17.5
PMV 18.12 15.87 20 Sep +14.2


KYK – this week's top breakout stock with the highest % gain. For more charts, please click on the respective tickers.
 

 

This week's top breakout stocks in terms of $ gain since breaking out

Ticker (click
for chart)
Closing
price
Breakout
level
Breakout
date
$ gain
since
BKL 84.65 77.47 16 Sep 7.18
PMV 18.12 15.87 20 Sep 2.25
MQG 131.05 129.43 19 Sep 1.62
REA 108.06 106.58 19 Sep 1.48
NCM 35.96 34.95 18 Sep 1.01
BKW 17.90 17.00 19 Sep 0.90
MP1 9.48 8.82 20 Sep 0.66
JHX 24.69 24.30 20 Sep 0.39
CLV 2.55 2.17 19 Sep 0.38

BKL – this week's top breakout stock in $ gains.
 



How Stockbeep detects breakout stocks on ASX

A breakout stock can be defined in 3 ways:

–  hitting a new all time/52 week high
–  moving above its previous trading range
–  via a technical analysis model

At Stockbeep, we use the second method, which is termed as the range breakout. If you are looking for stocks making new highs, you can try the New Highs scan here.

The scanner qualifies a breakout when the stock has crossed above the 5-day range by the minimum of one standard deviation. A standard deviation measures how much the stock usually moves.

The higher the standard deviation (SD), the greater the magnitude of the breakout.

These are the week's top 10 breakouts, measured by the number of standard deviations since breaking out.

Ticker (click
for chart)
Closing
price
Breakout
level
Breakout
date
Standard
deviations
KYK 0.24 0.105 19 Sep 18.0
PMV 18.12 15.87 20 Sep 8.9
CLV 2.55 2.17 19 Sep 8.6
BET 0.10 0.08 18 Sep 7.1
TLX 1.55 1.385 17 Sep 6.3
GPR 0.036 0.03 18 Sep 6.0
IFL 5.99 5.65 20 Sep 5.7
BNO 0.049 0.04 19 Sep 5.3
CLQ 0.345 0.315 20 Sep 5.0
BGA 4.62 4.45 19 Sep 4.7

ASX coverage

Stockbeep tracks the top 1000 most actively traded counters on the Australian Stock Exchange. We use the 5-day average daily volume as the measuring baseline.

If a breakout occurs outside the top 1000 stocks in our dataset, it will not be covered. Generally, most professional and institutional traders would avoid low-priced low-volume stocks. These are often prone to manipulation and “pump and dump" schemes.


Keeping track of breakout stocks during ASX trading hours

If you are on your computer, you can simply navigate to the ASX breakout stocks page. The scan operates from 10am to 4pm Sydney time. Results update every 5 seconds.

If you're away from your trading desk, you may want to follow us on Twitter. We've automated regular updates on the day's breakout stocks.

Twitter – @stockbeepASX
top breakout stocks

As with all trades, approach breakouts with caution

Breakouts occur quite frequently for a multitude of reasons. A breakout may reverse as quickly as it happened, this is known as the failed breakout.

Always consider the reasons if any, that might explain the breakout. The combination of a fundamental catalyst and increased volumes should help to filter better trading opportunities. Examples of catalysts include an earnings surprise, a major announcement or improved business/operating conditions.

Continued buying on increasing volumes may lead to a sustained move, while thin/declining volumes may lead to a reversal.

→ Next:  How our stock scanner works

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Disclaimer: Data and information are provided for informational purposes only, and is not intended for trading purposes. Stockbeep shall not be liable for any errors or delays in the content, or for any actions taken in reliance thereon.

About the author

David Miller is the Market Data Engineer at Stockbeep. He has spent more than two decades working across dealing rooms, market data vendors and trading ISVs.

For short term trading, David employs a data-based approach to trade equities and derivatives. For long term investing, he prefers thematic ETFs and fixed income.

Besides helping traders find actionable information from data, he is an avid fan of hockey, golf and fishing.