Breakoutwatch Weekly Summary 09/12/20
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| Market Signals Turn Down for the
Three Major Indexes Our market signals for the three major indexes all turned down on Friday. The NASDAQ closed below its 50 day moving average while the DJI and S&P 500 remain above that level, for now. This change in trends indicates that extra caution is necessary when opening long positions. The NASDAQ has slipped 10% since its September 2 high putting it in 'correction' territory. This may not be a bad thing, as the index was overextended, and a period of consolidation was overdue. While a move down was anticipated, it may have been influenced by the Senate failing to pass its $300 billion coronavirus relief bill, which could have added some stimulus to the economy and the pause in the AstraZeneca (AZN) vaccine trial in the UK,  |
With the market
trends turning negative, readers may be looking for
opportunities to go short. Fastly inc. is on our Head and
Shoulders Top (HST) short position list and fell 9% on Friday.
Read why here.
The stock is close to completing the HST pattern when it falls
to $73.9 in which case the target price becomes $30. See our HST
methodology. |
| No new features this week |
|
Our latest strategy
suggestions are here.
|
| List | Breakouts | Avg. Gain |
|---|---|---|
| CWH | 2 | 6.32 |
| SQZ | 7 | 4.01 |
| HTF | 2 | 3.09 |
| 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 |
|---|---|---|---|---|---|---|---|---|---|
| 2020-09-08 | WKHS | CWH | n | 21.00 | 21.38 | 99 | 23.69 | 12.81% | 16.62% |
| 2020-09-08 | SPAQ | SQZ | y | 13.86 | 14.2 | 88 | 15.18 | 9.52% | 16.67% |
| 2020-09-09 | MPX | SQZ | y | 16.47 | 17.91 | 83 | 17.89 | 8.62% | 13.24% |
| 2020-09-08 | NFE | HTF | y | 29.38 | 31.89 | 95 | 31.75 | 8.07% | 32.91% |
| 2020-09-09 | CRTX | SQZ | y | 44.47 | 47.25 | 88 | 47.58 | 6.99% | 10.95% |
| 2020-09-11 | SNAP | SQZ | y | 23.32 | 24.19 | 90 | 24.19 | 3.73% | 4.71% |
| 2020-09-10 | FRG | SQZ | y | 25.64 | 26.13 | 87 | 25.87 | 0.9% | 6.01% |
| 2020-09-10 | CRTX | SQZ | y | 47.26 | 48.38 | 88 | 47.58 | 0.68% | 4.4% |
| 2020-09-09 | LCA | CWH | n | 17.77 | 18.12 | 94 | 17.74 | -0.17% | 8.5% |
| 2020-09-10 | OESX | HTF | n | 7.09 | 7.34 | 95 | 6.955 | -1.9% | 7.05% |
| 2020-09-10 | BYND | SQZ | y | 138.18 | 143.04 | 82 | 134.88 | -2.39% | 8.24% |
| *RS Rank on day before breakout. | |||||||||
| Symbol | BO Price |
BO Vol. |
Company | Industry | RS Rank |
Last Close |
|---|---|---|---|---|---|---|
| SURF | 7.44 | 1,245,098 | Surface Oncology - Inc. | Biotechnology | 98 | 6.60 |
| CBB | 15.14 | 610,276 | Cinci | Telecom Services | 89 | 15.07 |
| EQT | 17.97 | 6,290,283 | EQT Corporation | Oil & Gas E&P | 85 | 14.03 |
| TME | 16.43 | 14,267,986 | Tencent Music Entertainme | Internet Content & Information | 83 | 15.80 |
| INSU | 14.49 | 599,638 | Insurance Acquisition Corp. | Shell Companies | 83 | 12.77 |
| NWSA | 15.46 | 2,683,056 | News Corporation | Broadcasting | 82 | 15.06 |
| NWS | 15.55 | 572,638 | News Corporation | Broadcasting | 81 | 15.05 |
| 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 | 27665.6 |
-1.66% | -3.06% | Down |
| NASDAQ | 10853.5 |
-4.06% | 20.96% | Down |
| S&P 500 | 3340.97 |
-2.51% | 3.41% | 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 13.19 |
NASDAQ Composite 37.82 |
NASDAQ Composite 20.96 |
| 1 Week | 3 Weeks | 13 Weeks | 26 Weeks |
|---|---|---|---|
| Silver |
Silver |
Shell Companies |
| Farm Products 36 |
Restaurants 40 |
Other Precious Metals & Mining 101 |
Copper 136 |
| Charts of each industry rank and performance over 12 months are available on the site | |||
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