Breakoutwatch Weekly Summary 05/01/21
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| This week, 37 Breakouts Gained over
5% Despite Market Consolidation The major indexes all consolidated this week as market participants fretted over the "peak growth" narrative, which contends that Q1 saw a year-on-year growth rate that can't be sustained as the year progresses, and consequently, the recent upward trend can't be sustained, despite the mostly excellent recent earnings reports, massive projected fiscal stimulus, and a promise of continued low interest rates from the Fed. The NASDAQ set another new high on Thursday and then retreated on Friday to finish the week with a loss of 0.4%.  The consolidation, particularly in
the DJI and S&P 500, allowed volatility to fall leaving many
stocks in a Volatility Squeeze (SQZ). As a consequence, we saw a
very large number of stocks breakout from that pattern, with
many making large percentage gains. Because of the high number
of SQZ breakouts (296), I have chosen to limit the number of
breakouts in the table below to only those gaining at least 5%.
|
Avid Technology
(AVID) is showing a handle setup with 4 days of profit
taking after setting a pivot on April 14 since followed by 8
days of accumulation on the right side of the handle. Notably
volume increased over the last 2 days to 50 day average levels.
Should AVId continue to move higher, there is an opportuity of
at least a 10% gain before meeting resitance at the left cup
level. Honorable mention: HyreCar
(HYRE)
HyreCar, Inc. were a chart of the
week selection 2 weeks ago and went on to make a 9% gain after
breakout. It is now back on the Cup and Handle list and
Friday's volume indicates that buyers are back after profit
taking on the last breakout, HYRE also has a very high
relative Strength rank of 98.
 Both AVID and HYRE are on our
list of stocks likely to breakout at the next session.
|
| No new features this week |
|
Our latest strategy
suggestions are here.
|
| List | Breakouts | Avg. Gain |
|---|---|---|
| CWH | 13 | 0.2 |
| SQZ | 296 | 0.57 |
| HTF | 2 | 2.89 |
| HSB | 0 | |
| DB | 14 | -0.23 |
| Because of the large number of SQZ breakouts, this list has been trimmed to include only those breakouts exceeding a 5% gain at Friday's Close | |||||||||
| Brkout Date | Symbol | Base | Squeeze | Brkout Price | Brkout Day Close | RS Rank* | Last Close | Current % off BOP | Gain at Intraday High |
|---|---|---|---|---|---|---|---|---|---|
| 2021-04-26 | EDRY | SQZ | y | 10.32 | 10.35 | 94 | 12.85 | 24.52% | 24.52% |
| 2021-04-26 | CROX | SQZ | y | 84.16 | 84.84 | 93 | 100.12 | 18.96% | 22.21% |
| 2021-04-27 | CROX | SQZ | y | 84.85 | 97.82 | 92 | 100.12 | 18% | 21.21% |
| 2021-04-27 | OSTK | SQZ | y | 69.53 | 70.56 | 93 | 81.5 | 17.22% | 27.14% |
| 2021-04-28 | CNTY | SQZ | y | 11.23 | 12.81 | 95 | 13.15 | 17.1% | 20.84% |
| 2021-04-26 | EVLO | SQZ | y | 11.55 | 12.24 | 90 | 13.15 | 13.85% | 14.03% |
| 2021-04-26 | IMO | SQZ | y | 25.51 | 25.54 | 82 | 28.95 | 13.48% | 13.96% |
| 2021-04-26 | WLL | SQZ | y | 35.49 | 35.93 | 99 | 40.07 | 12.91% | 15.89% |
| 2021-04-26 | UAN | HTF | n | 49.90 | 52.7 | 99 | 56.01 | 12.24% | 26.22% |
| 2021-04-28 | IMO | SQZ | y | 25.89 | 27.01 | 83 | 28.95 | 11.82% | 12.28% |
| 2021-04-26 | IRIX | SQZ | y | 7.72 | 9.2 | 97 | 8.6 | 11.4% | 25.84% |
| 2021-04-27 | LDL | SQZ | y | 33.16 | 34.1 | 91 | 36.85 | 11.13% | 13.9% |
| 2021-04-26 | DFS | SQZ | y | 102.85 | 106.19 | 87 | 114 | 10.84% | 11.62% |
| 2021-04-28 | NOG | SQZ | y | 13.07 | 14.21 | 99 | 14.48 | 10.79% | 15.99% |
| 2021-04-26 | ALPN | SQZ | y | 12.08 | 12.56 | 85 | 13.27 | 9.85% | 10.6% |
| 2021-04-27 | GLP | SQZ | y | 22.22 | 22.76 | 86 | 24.13 | 8.6% | 10.17% |
| 2021-04-28 | LDL | SQZ | y | 34.11 | 36.02 | 91 | 36.85 | 8.03% | 10.73% |
| 2021-04-29 | RLGY | DB | n | 16.05 | 16.83 | 86 | 17.28 | 7.66% | 11.65% |
| 2021-04-28 | HT | SQZ | y | 10.74 | 11.02 | 89 | 11.56 | 7.64% | 10.24% |
| 2021-04-26 | LAZY | CWH | n | 23.00 | 23.51 | 98 | 24.75 | 7.61% | 11.91% |
| 2021-04-27 | EVLO | SQZ | y | 12.25 | 12.42 | 90 | 13.15 | 7.35% | 7.51% |
| 2021-04-27 | AGS | SQZ | y | 8.35 | 8.63 | 93 | 8.95 | 7.19% | 8.98% |
| 2021-04-29 | IMO | SQZ | y | 27.02 | 27.64 | 85 | 28.95 | 7.14% | 7.59% |
| 2021-04-26 | EVH | SQZ | y | 20.34 | 21.19 | 88 | 21.66 | 6.49% | 8.95% |
| 2021-04-26 | PGNY | CWH | n | 53.47 | 55.9 | 85 | 56.91 | 6.43% | 11.39% |
| 2021-04-26 | DBD | SQZ | y | 14.15 | 14.2 | 92 | 15.01 | 6.08% | 10.53% |
| 2021-04-27 | THC | SQZ | y | 55.89 | 56.46 | 89 | 59.26 | 6.03% | 9.57% |
| 2021-04-28 | GLP | SQZ | y | 22.77 | 23.73 | 86 | 24.13 | 5.97% | 7.51% |
| 2021-04-28 | PBFX | SQZ | y | 14.57 | 14.65 | 83 | 15.4 | 5.7% | 7.69% |
| 2021-04-27 | XEC | SQZ | y | 62.69 | 63.63 | 92 | 66.2 | 5.6% | 10.34% |
| 2021-04-26 | PRTY | SQZ | y | 6.63 | 6.65 | 99 | 7 | 5.58% | 10.41% |
| 2021-04-28 | DVN | SQZ | y | 22.15 | 24.03 | 90 | 23.38 | 5.55% | 12.19% |
| 2021-04-27 | FANG | SQZ | y | 77.47 | 79.32 | 90 | 81.73 | 5.5% | 13.07% |
| 2021-04-26 | GTLS | SQZ | y | 152.80 | 155.2 | 94 | 160.63 | 5.12% | 9.55% |
| 2021-04-26 | VRTS | CWH | n | 260.20 | 261.68 | 89 | 273.46 | 5.1% | 6.82% |
| 2021-04-29 | PBFX | SQZ | y | 14.66 | 15.23 | 82 | 15.4 | 5.05% | 7.03% |
| 2021-04-28 | APA | SQZ | y | 19.04 | 20.49 | 81 | 20 | 5.04% | 11.61% |
| *RS Rank on day before breakout. | |||||||||
| Symbol | Company | Industry | RS Rank | Last Close | BoP | % off BoP |
|---|---|---|---|---|---|---|
| CDNA | CareDx, Inc. | Diagnostics & Research | 89 | 79.07 | 81.86 | 96.59 |
| ALB | Albemarle Corporation | Specialty Chemicals | 86 | 168.17 | 171.96 | 97.8 |
| AVID | Avid Technology, Inc. | Electronic Gaming & Multimedia | 94 | 22.74 | 23.54 | 96.6 |
| LBAI | Lakeland Bancorp, Inc. | Banks - Regional | 81 | 18.13 | 18.32 | 98.96 |
| HYRE | HyreCar Inc. | Rental & Leasing Services | 98 | 13.4 | 13.98 | 95.85 |
| CLNY | Colony Capital, Inc. | REIT - Diversified | 95 | 7 | 7.22 | 96.95 |
| ALTM | Altus Midstream Company | Oil & Gas Midstream | 98 | 60 | 61.84 | 97.02 |
| CDMO | Avid Bioservices, Inc. | Biotechnology | 96 | 21.405 | 22.14 | 96.68 |
| RL | Ralph Lauren Corporation | Apparel Manufacturing | 84 | 133.29 | 135.25 | 98.55 |
| NUAN | Nuance Communications, Inc. | Software - Application | 86 | 53.17 | 53.93 | 98.59 |
| SIM | Grupo Simec, S.A.B. de C. | Steel | 85 | 14.5 | 14.73 | 98.44 |
| LDL | Lydall, Inc. | Auto Parts | 91 | 36.85 | 37.77 | 97.56 |
| CMD | Cantel Medical Corp. | Medical Instruments & Supplies | 83 | 87.91 | 89.76 | 97.94 |
| HBI | Hanesbrands Inc. | Apparel Manufacturing | 80 | 21.06 | 21.49 | 98 |
| STXB | Spirit of Texas Bancshares, Inc. | Banks - Regional | 85 | 23.17 | 24.27 | 95.47 |
| REZI | Resideo Technologies, Inc. | Security & Protection Services | 97 | 30.01 | 31.22 | 96.12 |
| NTRA | Natera, Inc. | Diagnostics & Research | 88 | 110.02 | 117.54 | 93.6 |
| NET | Cloudflare, Inc. | Software - Infrastructure | 90 | 84.74 | 88.04 | 96.25 |
| NVAX | Novavax, Inc. | Biotechnology | 98 | 236.93 | 263.67 | 89.86 |
| *These stcocks were selected using our price breakout model. This model correctly selected CWH stocks that met or exceeded their breakout price with 80% probability over Jan. 2019 to Nov. 2020. This does not imply that on any one day, 80% or any of the stocks selected will meet or exceed their breakout price. | ||||||
| Symbol | BO Price |
BO Vol. |
Company | Industry | RS Rank |
Last Close |
|---|---|---|---|---|---|---|
| HYRE | 13.98 | 736,461 | HyreCar Inc. | Rental & Leasing Services | 98 | 13.40 |
| CLNY | 7.22 | 5,251,682 | Colony Capital - Inc. | REIT - Diversified | 95 | 7.00 |
| VLRS | 16.94 | 222,820,496 | Controladora Vuela Compan | Airlines | 94 | 16.27 |
| UMC | 11.25 | 294,692,070 | United Microelectronics Corporation (NEW) | Semiconductors | 93 | 9.92 |
| SKT | 18.82 | 291,562,317 | Tanger Factory Outlet Centers - Inc. | REIT - Retail | 92 | 17.45 |
| HBM | 8.54 | 2,208,210 | Hudbay Minerals Inc. | Copper | 91 | 7.47 |
| GT | 18.66 | 7,321,438 | The Goodyear Tire & Rubber Company | Auto Parts | 90 | 17.21 |
| DVAX | 11.84 | 4,790,488 | Dynavax Technologies Corporation | Biotechnology | 89 | 9.98 |
| AGRO | 9.64 | 824,412 | Adecoagro S.A. | Farm Products | 87 | 9.31 |
| SIM | 14.73 | 223,504,947 | Grupo Simec - S.A.B. de C. | Steel | 85 | 14.50 |
| 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 | 33874.9 |
-0.5% | 10.68% | Up |
| NASDAQ | 13962.7 |
-0.39% | 8.34% | Up |
| S&P 500 | 4181.17 |
0.02% | 11.32% | 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 |
|---|---|---|---|
| S&P 500 |
Dow Jones 6.82 |
NASDAQ Composite 27.96 |
S&P 500 11.32 |
| 1 Week | 3 Weeks | 13 Weeks | 26 Weeks |
|---|---|---|---|
| Aluminum |
Luxury Goods |
Home Improvement Retail |
| Beverages - Non-Alcoholic 32 |
Beverages - Brewers 59 |
REIT - Residential 97 |
Airports & Air Services 117 |
| Charts of each industry rank and performance over 12 months are available on the site | |||
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