Breakoutwatch Weekly Summary 06/06/20

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Weekly Commentary
Breakouts Average 6.1% for the Week. NASDAQ Recovery Almost Complete.

Confirmed breakouts averaged a 6.1% gain this week with Cup and Handle pattern breakouts delivering a 6.5% average gain above breakout price. The NASDAQ gained 3.4% for the week and closed just below its all-time high.

Friday's job figures showing an unemployment rate of 13.3% caught analysts by surprise as the expectation was that the rate would climb to almost 20% (Briefing.com consensus 19.9%). The surprise caused the three major indexes to gap up at Friday's open and the DJI closed 3.2% higher while the NASDAQ lagged with a 2.1% gain. Overlooked in the rejoicing, was a footnote to the report identifying a misclassification error of around 3%. In the light of this, Monday may bring a reassessment of market values.
NASDAQ Chart
Chart of the Week
Best Buy (BBY) is on Friday's Cup and Handle watchlist and is showing constructive action in the handle since setting a pivot on March 18. The handle is showing exactly the kind of behavior we expect prior to a breakout (see Anatomy of a Cup-with-Handle Chart Pattern), and is a stock to watch in the near future.

Best Buy Chart
New Features this Week

No new features this week
Strategy Suggestions
Our latest strategy suggestions are here.
Breakouts Summary by Watchlist for Week Beginning 06/01/20
List Breakouts Avg. Gain
CWH 6 6.53
SQZ 13 5.95
HTF
0
HSB
0
DB
0
Breakouts Detail for Week Beginning 06/01/20
Brkout Date Symbol Base Squeeze Brkout Price Brkout Day Close RS Rank* Last Close Current % off BOP Gain at Intraday High
2020-06-01 LEU CWH n 8.88 9.17 97 10.95 23.31% 35.25%
2020-06-02 EFX SQZ y 155.06 167.12 81 177.01 14.16% 15.92%
2020-06-01 NLS SQZ y 6.12 7.28 99 6.97 13.89% 24.67%
2020-06-02 MTBC SQZ y 6.72 7.4 91 7.44 10.71% 15.94%
2020-06-03 STM SQZ y 25.79 27.58 86 27.96 8.41% 11.01%
2020-06-05 DVA SQZ y 82.40 88.28 89 88.28 7.14% 7.65%
2020-06-02 ARNA CWH n 61.08 68.22 86 64.66 5.86% 14.19%
2020-06-03 DMTK SQZ y 13.30 13.64 87 14.07 5.79% 7.14%
2020-06-01 EPAY CWH n 51.17 53.36 82 54.02 5.57% 8.07%
2020-06-01 HUBS CWH n 200.78 213.22 82 211.76 5.47% 8.77%
2020-06-03 STAA SQZ y 41.01 43.05 90 43.18 5.29% 9.41%
2020-06-05 BYSI SQZ y 17.30 18.01 81 18.01 4.1% 4.57%
2020-06-01 FRPT SQZ y 77.19 84.49 92 80.05 3.71% 12.77%
2020-06-04 DMTK SQZ y 13.65 13.78 81 14.07 3.08% 4.4%
2020-06-02 PSN SQZ y 41.51 41.71 81 42.05 1.3% 4.48%
2020-06-05 IEC SQZ y 9.01 9.1 88 9.1 1% 3.22%
2020-06-01 PING CWH y 29.21 30.5 87 29.47 0.89% 7.84%
2020-06-01 GHG SQZ y 13.28 14.45 86 13.12 -1.2% 14.23%
2020-06-02 NICE CWH n 188.38 188.86 85 184.73 -1.94% 1.66%
*RS Rank on day before breakout.
Top Rated Cup and Handle Stocks as of Friday June 05, 2020
Symbol BO
Price		 BO
Vol.		 Company Industry RS
Rank		 Last
Close
APTO 9.00 1,229,220 Aptose Biosciences - Inc. - Common Shares Biotechnology 98 7.07
OMI 8.21 4,512,246 Owens & Minor - Inc. Common Stock Medical Distribution 94 7.89
OCUL 7.63 1,323,524 Ocular Therapeutix - Inc. - Common Stock Biotechnology 94 7.24
AUPH 18.72 1,808,667 Aurinia Pharmaceuticals Inc - Common Shares Biotechnology 93 14.98
SYRS 10.76 517,934 Syros Pharmaceuticals - Inc. - common stock Biotechnology 93 8.79
ARDX 8.33 1,048,494 Ardelyx - Inc. - Common Stock Biotechnology 92 6.92
CNSL 7.04 813,164 Consolidated Communications Holdings - Inc. - Commo Telecom Services 92 6.84
TEVA 13.23 22,116,776 Teva Pharmaceutical Industries Limited American De Drug Manufacturers - Specialty & Generic 91 12.84
GCAP 6.72 897,016 GAIN Capital Holdings - Inc. Common Stock Capital Markets 88 6.09
IOTS 12.22 792,048 Adesto Technologies Corporation - Common Stock Semiconductors 87 11.93
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 27111
 6.81% -5% Up
NASDAQ 9814.08
 3.42% 9.38% Up
S&P 500 3193.93
 4.91% -1.14% 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
Dow Jones NASDAQ Composite
14.44		 NASDAQ Composite
13.37		 NASDAQ Composite
9.38
Best Performing Industry
1 Week 3 Weeks 13 Weeks 26 Weeks
Grocery Stores
 Shell Companies

Most Improved Industry (by change in technical rank2)
Beverages - Wineries & Distilleries
32		 Airports & Air Services
50		 Copper
117		 Gold
195
Charts of each industry rank and performance over 12 months are available on the site

 

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