Breakoutwatch Weekly Summary 11/20/21
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| NASDAQ Closes at Another New High
Led by Mega Cap Techs The NASDAQ continued to outpace the major indexes with a 1.2% gain while the DJI went backwards (-1.4%) and the S&P 500 gained just 0.3%. Market participants are favoring the growth potential of the large tech stocks as evidenced by the Vanguard Mega Cap MGK etf moving 2.2% higher. The economic news is good with retail sales for October climbing, unemployment falling and passage of the Infrastructure legislation which will add further stimulus.  Although the NASDAQ continues to
advance, there are fewer opportunities for breakouts and gains
are limited by the already high valuations of stocks that do
breakout. As of Friday, there were just 34 cup and handle stocks
on our watchlist and only 2 Volatility Squeeze candidates.
|
Our price model has
selected Alpine Immune Sciences (ALPN) as the cup and handle
pattern stock most likely to breakout at the next session. ALPN
closed 1.5% below its breakout price on Friday on above average
volume |
| The Breakoutwatch Support forum is now available again. The forum was restored after being unavailable since the site was hacked in August. The backtest pages are still unavailable but I am working on getting them restored also. |
|
Our latest strategy
suggestions are here.
|
| List | Breakouts | Avg. Gain |
|---|---|---|
| CWH | 7 | 0.39 |
| SQZ | 9 | -2.23 |
| 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 |
|---|---|---|---|---|---|---|---|---|---|
| 2021-11-18 | RCUS | CWH | n | 40.33 | 43.54 | 85 | 47.55 | 17.9% | 19.09% |
| *RS Rank on day before breakout. | |||||||||
| Symbol | Company | Industry | RS Rank | Last Close | BoP | % off BoP |
|---|---|---|---|---|---|---|
| ALPN | Alpine Immune Sciences, Inc. | Biotechnology | 88 | 13.57 | 13.77 | 98.55 |
| TRIL | Trillium Therapeutics Inc. | Biotechnology | 98 | 18.44 | 18.49 | 99.73 |
| PNRG | PrimeEnergy Resources Corporation | Oil & Gas E&P | 87 | 67.75 | 71.59 | 94.64 |
| SGA | Saga Communications, Inc. | Broadcasting | 81 | 27.06 | 27.48 | 98.47 |
| *These stocks were selected using our CWH price breakout model. This model selects stocks likely to close above the breakout price at the next session. When backtested over the three years beginning January 2019 until October 28, 2021, 80% of the stocks selected closed above their breakout price. This does not mean that on any day, 80% of the stocks selected will breakout, but it is the expectation over an extended period of time. | ||||||
| Symbol | BO Price |
BO Vol. |
Company | Industry | RS Rank |
Last Close |
|---|---|---|---|---|---|---|
| TRIL | 18.49 | 4,956,141 | Trillium Therapeutics Inc. | Biotechnology | 98 | 18.44 |
| PBF | 16.46 | 6,360,809 | PBF Energy Inc. | Oil & Gas Refining & Marketing | 93 | 12.77 |
| PRQR | 8.67 | 748,862 | ProQR Therapeutics N.V. | Biotechnology | 92 | 7.77 |
| ARLO | 8.39 | 947,118 | Arlo Technologies - Inc. | Security & Protection Services | 89 | 7.90 |
| CNR | 17.50 | 823,683 | Cornerstone Building Brands - Inc. | Building Products & Equipment | 89 | 16.77 |
| GOSS | 14.30 | 839,217 | Gossamer Bio - Inc. | Biotechnology | 83 | 11.57 |
| 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 | 35602 |
-1.38% | 16.32% | Up |
| NASDAQ | 16057.4 |
1.24% | 24.59% | Up |
| S&P 500 | 4697.96 |
0.32% | 25.08% | 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 |
|---|---|---|---|
| NASDAQ Composite |
NASDAQ Composite 9.12 |
NASDAQ Composite 19.2 |
S&P 500 25.08 |
| 1 Week | 3 Weeks | 13 Weeks | 26 Weeks |
|---|---|---|---|
| Uranium |
Thermal Coal |
Aluminum |
Silver |
| Aerospace & Defense 0 |
Aerospace & Defense 0 |
Aerospace & Defense 0 |
Aerospace & Defense 0 |
| Charts of each industry rank and performance over 12 months are available on the site | |||
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