Let’s look at three stocks hitting new highs this week, a bullish sign. On top of that, these leaders are also breaking out of bases at attractive entries.
Warren Buffett’s Berkshire Hathaway (BRKB) heads the list. Shares broke out briefly above 331.94 from a very long cup with handle and are trading very close to that level on Friday.
The price action follows a quarter of robust revenue and earnings. In the first quarter, BRKB’s revenue grew 21% to $85.4 billion. Earnings per share of $3.69 also showed solid growth, at 14%. The Omaha Oracle’s home and his subsidiaries have diversified operations in insurance, reinsurance, manufacturing, retail, transportation and services.
Intuitive Surgical Hits New Highs
Intuitive Surgical (ISRG) is also at new highs after a breakout at 285.19. Shares have built a four-weeks-tight pattern, according to IBD MarketSmith.
In the first quarter, Intuitive Surgical’s sales of $1.7 billion grew 14% while earnings per share of $1.23 marked modest 9% growth. The Silicon Valley company makes surgical gear for minimally invasive and robotically assisted procedures.
Dorian LPG (LPG) is in a buy zone above a 22.87 buy point. The stock is at new highs, but the late-stage base calls for some caution. The choppy action also makes it difficult to define the base. However, technical strength and strong quarterly results are pluses for the energy stock.
LPG stock sports a 97 Composite Rating and 96 Relative Strength Rating. Q4 sales rose an impressive 51% to $103.3 million, while earnings grew 279% to $1.29 per share. The Stamford, Conn., company ships liquefied petroleum gas and operates very large gas carriers.
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