Breakoutwatch Weekly Summary 03/19/22
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| NASDAQ Follow Through Day; 80
Breakouts Exceed 5% Gain Friday's 2% gain by the NASDAQ on well above average volume qualifies as a 'follow through day' following the low set on March 14. Friday was the 4th day after the March 14 bottom, it closed higher than the previous day and did so on higher volume, meeting the O'Neil criteria. This was not enough to change our market trend algorithm, which is still negative for all three major indexes, although another positive day could swing the trend(s) into a positive direction. For the week, the NASDAQ gained 8.2%.  This was also a very strong week
for breakouts with 80 watchlist stocks exceeding a 5% gain.
|
Apple (AAPL)
met our criteria for an Average True Range Breakout on Friday.
AAPL was the best performing mega cap tech stock on Friday, and
played a major role in moving the NASDAQ higher. If the tech
stock rally continues, AAPL will likely continue to be the mega
cap leader. |
| No new features this week |
|
Our latest strategy
suggestions are here.
|
| List | Breakouts | Avg. Gain |
|---|---|---|
| CWH | 13 | 2.33 |
| SQZ | 67 | 2.28 |
| 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 |
|---|---|---|---|---|---|---|---|---|---|
| 2022-03-17 | LMST | SQZ | y | 19.23 | 20.67 | 86 | 21.49 | 11.75% | 12.09% |
| 2022-03-14 | MKL | SQZ | y | 1301.67 | 1355.51 | 86 | 1429 | 9.78% | 9.87% |
| 2022-03-16 | FGBI | CWH | y | 22.31 | 22.51 | 88 | 24.35 | 9.14% | 12.28% |
| 2022-03-17 | CIX | SQZ | y | 22.17 | 22.99 | 86 | 24 | 8.25% | 8.25% |
| 2022-03-17 | FGBI | SQZ | y | 22.52 | 23.43 | 88 | 24.35 | 8.13% | 11.23% |
| 2022-03-14 | REGN | SQZ | y | 642.59 | 656.41 | 88 | 685.94 | 6.75% | 7.38% |
| 2022-03-16 | BSAC | CWH | n | 21.08 | 21.71 | 85 | 22.24 | 5.5% | 6.26% |
| 2022-03-14 | SLGN | SQZ | y | 42.82 | 44.08 | 81 | 44.99 | 5.07% | 6.19% |
| 2022-03-16 | MGPI | SQZ | y | 79.37 | 83.71 | 88 | 83.37 | 5.04% | 6.87% |
| *RS Rank on day before breakout. | |||||||||
| Symbol | Company | Industry | RS Rank | Last Close | BoP | % off BoP |
|---|---|---|---|---|---|---|
| RCMT | RCM Technologies, Inc. | Engineering & Construction | 97 | 7.72 | 7.75 | 99.61 |
| FLMN | Falcon Minerals Corporation | Oil & Gas E&P | 95 | 6.29 | 6.48 | 97.07 |
| MAXR | Maxar Technologies Inc. | Communication Equipment | 86 | 35.84 | 36.17 | 99.09 |
| STNG | Scorpio Tankers Inc. | Oil & Gas Midstream | 92 | 19.23 | 19.64 | 97.91 |
| TCFC | The Community Financial Corporation | Banks - Regional | 86 | 40.38 | 41.00 | 98.49 |
| *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. | ||||||
| Index | Value | Change Week | Change YTD | Trend1 |
|---|---|---|---|---|
| Dow | 34754.9 |
5.5% | -4.36% | Down |
| NASDAQ | 13893.8 |
8.18% | -11.19% | Down |
| S&P 500 | 4463.12 |
6.16% | -6.36% | 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 |
|---|---|---|---|
| NASDAQ Composite |
Dow Jones -3.41 |
S&P 500 0.68 |
Dow Jones -4.36 |
| 1 Week | 3 Weeks | 13 Weeks | 26 Weeks |
|---|---|---|---|
| Oil & Gas Drilling |
Oil & Gas Integrated |
Airports & Air Services |
Utilities - Renewable |
| 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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