Breakoutwatch Weekly Summary 02/01/20

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Weekly Commentary
Trend Indicator For DOW Turns Negative, NASDAQ and S&P Positive for Now

Fears that the spreading coronavirus would slow world trade started to affect the markets on Wednesday. A 'buy the dip' rally on Thursday was ended on Friday as President Trump imposed travel restrictions and Delta, United and American airlines suspended flight to China. The DJI dropped 600 points on Friday causing a loss of 2.5% for the week. The NASDAQ gave up 1.8% and the S&P 500 2.1%. Only NASDAQ is still positive for the year.
NASDAQ Chart
Chart of the Week
Although only the second strongest breakout of the week, DECK, was perhaps the most easily selected from our cup and handle watchlist because of its classic behavior in the handle just before breakout.
  1. The price fell on much lower volume after the pivot was set.
  2. After setting the handle low on January 28 price and volume started to improve indicating the stock was under accumulation.
  3. The day before breakout, volume was significantly higher than the previous day and well above the 50 day average. 
A filter setting as follows would have selected DECK on the day before breakout (01/31/20).

cwh_filters
DECK Breakout
New Features this Week

No new features this week
Strategy Suggestions
Our latest strategy suggestions are here.
Breakouts Summary by Watchlist for Week Beginning 01/27/20
List Breakouts Avg. Gain
CWH 5 -0.13
SQZ 2 1.17
HTF
0
HSB
0
DB
0
Breakouts Detail for Week Beginning 01/27/20
Brkout Date Symbol Base Squeeze Brkout Price Brkout Day Close RS Rank* Last Close Current % off BOP Gain at Intraday High
2020-01-27 GSHD CWH n 47.12 48.91 83 52.18 10.74% 13.82%
2020-01-31 DECK CWH n 180.00 190.91 82 190.91 6.06% 10.73%
2020-01-30 ENV CWH n 75.65 79.55 80 78.88 4.27% 6.6%
2020-01-30 INS SQZ y 41.68 42.58 84 42.45 1.85% 3.77%
2020-01-30 LN SQZ y 49.09 49.28 93 49.33 0.49% 0.59%
2020-01-30 YETI CWH n 37.15 37.39 86 36.36 -2.13% 1.24%
2020-01-30 BZH CWH n 17.10 17.21 87 13.75 -19.59% 0.76%
*RS Rank on day before breakout.
Top Rated Cup and Handle Stocks as of Friday January 31, 2020
Symbol BO
Price		 BO
Vol.		 Company Industry RS
Rank		 Last
Close
DBD 12.91 1,748,868 Diebold Nixdorf Incorporated Common Stock Software - Application 96 11.51
OSMT 7.25 583,206 Osmotica Pharmaceuticals plc - Ordinary Shares Biotechnology 95 6.44
RUBI 10.96 2,056,629 The Rubicon Project - Inc. Common Stock Advertising Agencies 94 9.36
NERV 9.23 661,046 Minerva Neurosciences - Inc - Common Stock Biotechnology 94 8.13
OMI 7.02 2,526,102 Owens & Minor - Inc. Common Stock Medical Distribution 93 6.26
SWCH 16.56 1,308,456 Switch - Inc. Class A Common Stock Information Technology Services 92 16.00
HABT 14.10 807,285 The Habit Restaurants - Inc. - Class A Common Stock Restaurants 91 13.91
VSLR 9.02 1,359,410 Vivint Solar - Inc. Common Stock Solar 91 8.16
CYTK 13.27 1,228,438 Cytokinetics - Incorporated - Common Stock Biotechnology 88 12.30
SNR 8.03 604,556 New Senior Investment Group Inc. Common Stock REIT - Residential 88 7.62
These stocks meet our suggested screening factors for our Cup and Handle Chart Pattern watchlist.
See Revised Rules for Trading Cup and Handle Breakouts
Major Index Summary
Index Value Change Week Change YTD Trend1
Dow 28256
 -2.53% -0.99% Down
NASDAQ 9150.94
 -1.76% 1.99% Up
S&P 500 3225.52
 -2.12% -0.16% 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.
Best Performing Index
1 Week 13 Weeks 26 Weeks Year-to-Date
NASDAQ Composite
-1.76 %		 NASDAQ Composite
9.12 %		 NASDAQ Composite
14.33 %		 NASDAQ Composite
1.99 %
Best Performing Industry
1 Week 3 Weeks 13 Weeks 26 Weeks
Financial Data & Stock Exchanges


Most Improved Industry (by change in technical rank2)
Financial Conglomerates
191		 Financial Conglomerates
184		 Gold
171		 Closed-End Fund - Debt
189
Charts of each industry rank and performance over 12 months are available on the site

 

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