Breakoutwatch Weekly Summary 04/09/22
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| Long Term Rates Push NASDAQ Below
200 day Moving Average; Subscription Increase May 1 The minutes of the March FOMC meeting warned that one or more 50 basis point increases in the fed funds rate could be appropriate at future meetings. High priced tech stocks reacted negatively taking the NASDAQ down to a 3.9% loss for the week. The index closed below its 200 day moving average on Friday as did the S&P 500. First quarter reporting starts this week and expectations are that future guidance (more important than Q1 earnings) will trend down. If so, then the indexes will trend down also.  Our subscription rates have held steady for 5 years although our hosting and data costs have risen. Regrettably, it's necessary to raise our rates by 5% and this will go into effect on May 1, 2022. You can upgrade now to longer subscription periods to beat the increase. The new rates will be:
|
| Baxter
International (BAX) Baxter International Inc., through its subsidiaries, develops and provides a portfolio of healthcare products worldwide. BAX recently obtained FDA approval for a new blood purification system which is expected to gain a solid foothold in global renal care. On Friday BAX broke above its Average True Range on above average volume, this was the 4th successive day of upward movement. BAX is 10% below its February high so would appear to have some upside potential.  |
| No new features this week |
|
Our latest strategy
suggestions are here.
|
| List | Breakouts | Avg. Gain |
|---|---|---|
| CWH | 17 | 0.35 |
| SQZ | 31 | 2.51 |
| HTF | 1 | 13.9 |
| 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 |
|---|---|---|---|---|---|---|---|---|---|
| 2022-04-06 | TSRI | SQZ | y | 10.11 | 10.45 | 84 | 13.54 | 33.93% | 54.5% |
| 2022-04-07 | IPI | HTF | n | 93.86 | 101.78 | 99 | 106.91 | 13.9% | 17% |
| 2022-04-04 | CYTK | SQZ | y | 38.39 | 40.04 | 91 | 41.69 | 8.6% | 13.39% |
| 2022-04-07 | ACHC | SQZ | y | 68.40 | 70.92 | 89 | 73.96 | 8.13% | 9.44% |
| 2022-04-06 | WEYS | SQZ | y | 24.87 | 25.84 | 84 | 26.88 | 8.08% | 8.64% |
| 2022-04-04 | XENE | SQZ | y | 32.37 | 34.15 | 97 | 34.7 | 7.2% | 10.26% |
| 2022-04-04 | PERI | CWH | n | 23.89 | 26.51 | 85 | 25.53 | 6.86% | 11.72% |
| 2022-04-06 | CLB | SQZ | y | 31.57 | 31.89 | 86 | 33.62 | 6.49% | 7.95% |
| *RS Rank on day before breakout. | |||||||||
| Symbol | Company | Industry | RS Rank | Last Close | BoP | % off BoP |
|---|---|---|---|---|---|---|
| RNDB | Randolph Bancorp, Inc. | Banks - Regional | 91 | 26.35 | 26.56 | 99.21 |
| AEM | Agnico Eagle Mines Limited | Gold | 91 | 65.13 | 65.22 | 99.86 |
| *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 |
|---|---|---|---|---|---|---|
| CXW | 11.86 | 1,187,496 | CoreCivic - Inc. | REIT - Specialty | 91 | 11.17 |
| SA | 19.90 | 547,461 | Seabridge Gold - Inc. | Gold | 91 | 19.28 |
| SILV | 10.13 | 1,158,461 | SilverCrest Metals Inc. | Other Industrial Metals & Mining | 91 | 9.04 |
| GGAL | 11.28 | 943,759 | Grupo Financiero Galicia S.A. | Banks - Regional | 89 | 10.30 |
| IEA | 14.45 | 846,313 | Infrastructure and Energy Alternatives - Inc. | Engineering & Construction | 89 | 12.51 |
| OII | 18.20 | 1,353,470 | Oceaneering International - Inc. | Oil & Gas Equipment & Services | 89 | 15.18 |
| AROC | 9.77 | 1,445,289 | Archrock - Inc. | Oil & Gas Equipment & Services | 87 | 9.36 |
| DNOW | 11.50 | 1,241,567 | NOW Inc. | Oil & Gas Equipment & Services | 87 | 10.27 |
| MBI | 16.68 | 619,027 | MBIA Inc. | Insurance - Specialty | 86 | 13.64 |
| AG | 14.49 | 9,029,797 | First Majestic Silver Cor | Silver | 85 | 13.47 |
| 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 | 34721.1 |
-0.28% | -4.45% | Up |
| NASDAQ | 13711 |
-3.86% | -12.36% | Up |
| S&P 500 | 4488.28 |
-1.27% | -5.83% | 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 |
|---|---|---|---|
| Dow Jones |
S&P 500 -4.04 |
S&P 500 2.21 |
Dow Jones -4.45 |
| 1 Week | 3 Weeks | 13 Weeks | 26 Weeks |
|---|---|---|---|
| Thermal Coal |
Oil & Gas Drilling |
Thermal Coal |
Solar |
| 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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