Breakoutwatch Weekly Summary 04/23/22

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Weekly Commentary
Fed Tightening Slams NASDAQ

The NASDAQ gave up 3.8% this week in response to Fed Chairman Powell saying "50 basis points will be on the table for the May meeting," at the IMF Debate on the Global Economy on Thursday. The NASDAQ looks likely to test support at 12555 which would be 20.8% below the November 22 high. A fall of 20% is considered to confirm a bear market. A 50 basis point (0.5%) rise is unlikely to be the end of tightening, with St. Louis Fed President Bullard predicting a 3.5% rate by year's end.
NASDQ Chart
Reminder: Our rates will rise 5% on May 1

Months 1 3 6 12
Silver $21 $57 $107 $200
Gold $31 $91 $161 $302
Platinum $42 $113 $214 $403

Chart of the Week
Verint Systems Inc.

Verint was the only cup and handle stock that met my Friday screen for stocks likely to breakout. VRNT stock closed 6% higher than the previous day's close on Friday on double the average 50 day volume.
VRNT Chart
New Features this Week

No new features this week
Strategy Suggestions
Our latest strategy suggestions are here.
Breakouts Summary by Watchlist for Week Beginning 04/18/22
List Breakouts Avg. Gain
CWH 23 -2.07
SQZ 110 -2.86
HTF
0
HSB
0
DB
0
Breakouts Gaining at Least 5% for Week Beginning 04/18/22
Brkout Date Symbol Base Squeeze Brkout Price Brkout Day Close RS Rank* Last Close Current % off BOP Gain at Intraday High
2022-04-19 CHEF SQZ y 33.32 34.15 82 35.91 7.77% 9.99%
2022-04-18 TCDA CWH n 9.88 10.18 97 10.62 7.49% 21.26%
2022-04-20 CHEF SQZ y 34.16 35.5 83 35.91 5.12% 7.29%
*RS Rank on day before breakout.
CwH Stocks Likely to Close above BoP at Next Session*
Symbol Company Industry RS Rank Last Close BoP % off BoP
VRNT Verint Systems Inc. Software - Infrastructure 90 55.75 56.39 98.87
CMLS Cumulus Media Inc. Broadcasting 95 14.8 15.20 97.37
RNDB Randolph Bancorp, Inc. Banks - Regional 89 26.4 26.56 99.4
*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.

Top Rated Cup and Handle Stocks as of Friday April 22, 2022
Symbol BO
Price		 BO
Vol.		 Company Industry RS
Rank		 Last
Close
UUUU 10.98 7,723,858 Energy Fuels Inc Uranium 95 8.19
DNOW 11.83 1,186,598 NOW Inc. Oil & Gas Equipment & Services 94 11.16
MGI 10.87 8,482,975 Moneygram International - Inc. Credit Services 93 10.36
LPG 16.20 662,576 Dorian LPG Ltd. Oil & Gas Midstream 92 14.86
AROC 9.91 1,413,287 Archrock - Inc. Oil & Gas Equipment & Services 87 9.36
ACRE 16.48 735,274 Ares Commercial Real Estate Corporation REIT - Mortgage 85 15.74
OII 18.20 1,383,629 Oceaneering International - Inc. Oil & Gas Equipment & Services 84 13.49
KT 15.30 1,234,631 KT Corporation Telecom Services 83 14.33
LADR 12.70 1,012,354 Ladder Capital Corp Class A REIT - Mortgage 81 12.08
RQI 17.11 513,426 Cohen & Steers Quality Inco Asset Management 80 16.27
These stocks meet our suggested screening factors for our Cup and Handle Chart Pattern watchlist.
See Revised Rules for Trading Cup and Handle Breakouts
Major Index Summary
Index Value Change Week Change YTD Trend1
Dow 33811.4
 -1.86% -6.95% Down
NASDAQ 12839.3
 -3.83% -17.93% Down
S&P 500 4271.78
 -2.75% -10.37% 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.
Best Performing Index
1 Week 13 Weeks 26 Weeks Year-to-Date
Dow Jones Dow Jones
-1.32		 Dow Jones
-5.23		 Dow Jones
-6.95
Best Performing Industry
1 Week 3 Weeks 13 Weeks 26 Weeks
Thermal Coal
 Healthcare Plans
 Uranium
 Aluminum
Most Improved Industry (by change in technical rank2)
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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