Breakoutwatch Weekly Summary 11/18/17
You are receiving this email because you are or were a BreakoutWatch.com subscriber, or have subscribed to our weekly newsletter. This newsletter summarizes the breakout events of the week and provides additional guidance that does not fit into our daily format. It is published each weekend.
The NASDAQ Composite set another new
high on Thursday in response to the House of Representatives
passing it's tax bill. The bill promises lower corporate tax rates
which should lead to higher corporate profits and higher share
prices. The index slipped slightly on Friday, as the Senate has
not yet finalized it's tax bill and doubts remain that the two
bills can be reconciled. For the week, the index closed with a
modest 0.5% gain while the DJI and S&P 500 suffered small
losses. |
I have temporarily suspended publication of the High Tight Flag watchlist. There were some spuriously low data values for September 28 that was tricking the algorithm for some stocks on September 28. The HTF watchlist will return just as soon as I have cleaned the data.
Cup and Handle (CWH) and Volatility Squeeze (SQZ) stocks again dominated the breakouts. CNCE was the best performer after breaking out form a long CWH base. Note in the inset chart below how how the price rose on strong volume in the two days before breakout. This is a common sign that a breakout is about to occur.
| No new features this week.
I noticed there are some errors on the daily report and these should be corrected beginning Monday. |
|
Our latest strategy
suggestions are here.
|
| List | Breakouts | Avg. Gain |
|---|---|---|
| CWH | 4 | 4.51 |
| SQZ | 4 | 0.96 |
| HTF | ||
| HSB | ||
| DB | 1 | 5.08 |
| Brkout Date | Symbol | Base | Squeeze | BrkoutOut Price | Brkout Day Close | RS Rank* | Last Close | Current % off BOP | Gain at Intraday High |
|---|---|---|---|---|---|---|---|---|---|
| 2017-11-13 | CNCE | CWH | n | 18.45 | 19 | 91 | 20.67 | 12.03% | 19.73% |
| 2017-11-14 | HOLI | SQZ | y | 23.48 | 26 | 86 | 25.4 | 8.18% | 15.8% |
| 2017-11-17 | LTM | DB | n | 13.78 | 14 | 76 | 14.48 | 5.08% | 5.15% |
| 2017-11-17 | BURL | CWH | n | 101.63 | 105 | 80 | 104.73 | 3.05% | 3.16% |
| 2017-11-16 | FRPT | CWH | n | 17.70 | 18 | 90 | 18.1 | 2.26% | 4.8% |
| 2017-11-16 | MODN | SQZ | y | 14.36 | 14 | 86 | 14.55 | 1.32% | 4.11% |
| 2017-11-17 | VRSN | SQZ | y | 112.98 | 114 | 88 | 113.75 | 0.68% | 0.9% |
| 2017-11-17 | GES | CWH | y | 17.54 | 18 | 88 | 17.66 | 0.68% | 3.76% |
| 2017-11-15 | FENG | SQZ | y | 6.30 | 6 | 94 | 5.9 | -6.35% | 2.86% |
| *RS Rank on day before breakout. | |||||||||
| Symbol | BO Price |
BO Vol. |
Company | Industry | RS Rank |
Last Close |
|---|---|---|---|---|---|---|
| SORL | 8.45 | 879,358 | SORL Auto Parts - Inc. - Common Stock | Auto Manufacturers - Major | 94 | 6.56 |
| These stocks meet our suggested screening factors
for our Cup and Handle Chart Pattern watchlist. See Revised Rules for Trading Cup and Handle Breakouts |
||||||
| Index | Value | Change Week | Change YTD | Trend1 |
|---|---|---|---|---|
| Dow | 23362.3 |
-0.26% | 18.21% | Up |
| NASDAQ | 6781.84 |
0.46% | 25.98% | Up |
| S&P 500 | 2578.97 |
-0.13% | 15.19% | Up |
|
1The Market Trend is derived from
our proprietary market model. The market model is described on
the site here.
2The site also shows industry rankings based on fundamentals, combined technical and fundamentals, and on price alone. The site also shows daily industry movements. |
||||
| 1 Week | 13 Weeks | 26 Weeks | Year-to-Date |
|---|---|---|---|
| NASDAQ Composite |
NASDAQ Composite 7.79 % |
Dow Jones 12.29 % |
NASDAQ Composite 25.98 % |
| 1 Week | 3 Weeks | 13 Weeks | 26 Weeks |
|---|---|---|---|
| Manufactured Housing |
Manufactured Housing |
Aluminum |
Aluminum |
| Publishing - Periodicals 126 |
Aerospace/Defense - Major Diversified 134 |
Medical Practitioners 216 |
Medical Practitioners 215 |
| Charts of each industry rank and performance over 12 months are available on the site | |||
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