Breakoutwatch Weekly Summary 04/11/20
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| Trend is Still Down Despite Record
Week for Markets The NASDAQ gained 11% this week in what Marketwatch called the best week for stocks in 45 years. Nevertheless our trend model still considers that the overall market direction is negative. Although that results from a purely technical analysis, many market observers who compare this rally to previous meltdowns of this scale, believe the March low will be retested in the coming weeks (example). Has the reality of the hit to the economy of 16 million unemployed (and climbing) yet been priced into the market? We could learn more next week as the Q1 earnings season begins and companies report forward guidance.  |
This week I've
chosen a cup and handle pattern stock to watch on Monday: MSCI
inc. MSCI Inc., together with its subsidiaries, provides
investment decision support tools for the clients to manage
their investment processes worldwide. Thursday's volume was
above the 50 day average and above that of the day before. The
stock is above both it's 50 and 200 day moving average. A
breakout could test resistance at 322. |
| No new features this week |
|
Our latest strategy
suggestions are here.
|
| List | Breakouts | Avg. Gain |
|---|---|---|
| CWH | 1 | 1.02 |
| SQZ | 3 | 4.77 |
| HTF | 0 | |
| HSB | 0 | |
| DB | 0 |
| Brkout Date | Symbol | Base | Squeeze | Brkout Price | Brkout Day Close | RS Rank* | Last Close | Current % off BOP | Gain at Intraday High |
|---|---|---|---|---|---|---|---|---|---|
| 2020-04-09 | CYRX | SQZ | y | 17.00 | 18.27 | 90 | 18.27 | 7.47% | 11.29% |
| 2020-04-07 | HTLD | SQZ | y | 18.99 | 19.24 | 81 | 20.26 | 6.69% | 7.27% |
| 2020-04-07 | CY | CWH | n | 23.58 | 23.81 | 93 | 23.82 | 1.02% | 1.06% |
| 2020-04-07 | CHT | SQZ | y | 35.85 | 35.99 | 88 | 35.9 | 0.14% | 0.75% |
| *RS Rank on day before breakout. | |||||||||
| Symbol | BO Price |
BO Vol. |
Company | Industry | RS Rank |
Last Close |
|---|---|---|---|---|---|---|
| CTSO | 7.73 | 1,229,976 | Cytosorbents Corporation - Common Stock | Medical Devices | 96 | 6.59 |
| VSTO | 9.71 | 1,307,824 | Vista Outdoor Inc. Common Stock | Leisure | 94 | 8.95 |
| 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 | 23719.4 |
12.67% | -16.89% | Down |
| NASDAQ | 8153.58 |
10.59% | -9.13% | Down |
| S&P 500 | 2789.82 |
12.1% | -13.65% | Down |
|
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 |
|---|---|---|---|
| Dow Jones |
NASDAQ Composite -11.41 |
NASDAQ Composite 2.55 |
NASDAQ Composite -9.13 |
| 1 Week | 3 Weeks | 13 Weeks | 26 Weeks |
|---|---|---|---|
| Shell Companies |
REIT - Industrial |
| Uranium 50 |
Gold 95 |
Grocery Stores 203 |
Grocery Stores 185 |
| Charts of each industry rank and performance over 12 months are available on the site | |||
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