Breakoutwatch Weekly Summary 04/01/2023
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Contents
Market Summary
Stocks post solid gains
The major equity indexes posted solid gains in a relatively quiet week for economic data releases and financial news. Small-caps outperformed large-caps, and value stocks advanced modestly more than growth stocks. Rising oil prices boosted energy stocks, which make up a significant part of value indexes. U.S. benchmark West Texas Intermediate crude oil rose more than 9% for the week, climbing back above the USD 70 per barrel level. [more...]
Major Index Performance
| Dow Jones | |
|---|---|
| Last Close | 33274.1 |
| Wk. Gain | 3.09 % |
| Yr. Gain | 0.46 % |
| Trend | Up |
|
|
| S&P 500 | |
|---|---|
| Last Close | 4109.31 |
| Wk. Gain | 3.17 % |
| Yr. Gain | 7.32 % |
| Trend | Up |
|
|
| NASDAQ Comp. | |
|---|---|
| Last Close | 12221.9 |
| Wk. Gain | 2.98 % |
| Yr. Gain | 17.88 % |
| Trend | Up |
|
|
| Russell 2000 | |
|---|---|
| Last Close | 1802.48 |
| Wk. Gain | 3.12 % |
| Yr. Gain | 1.85 % |
| Trend | Down |
|
|
Performance by Sector
| Sector | Wk. Change % | Yr. Change % | Trend |
|---|---|---|---|
| Consumer Discretionary | 4.71 | 16.15 | Up |
| Consumer Staples | 2.02 | 0.75 | Up |
| Energy | 4.96 | -4.63 | Down |
| Finance | 2.04 | -5.5 | Down |
| Health Care | 1.34 | -3.69 | Up |
| Industrials | 3.77 | 4.56 | Down |
| Technology | 3.52 | 21.89 | Up |
| Materials | 4.13 | 4.46 | Up |
| REIT | 4.77 | 0.68 | Down |
| Telecom | 2.4 | 19.05 | Up |
| Utilities | 2.72 | -4.78 | Up |
Breakouts This Week Still Within 5% of Breakout Price (Limit 20 top C Score)
| Watchlist | Symbol | Company | Industry | C Score* | % Gain |
|---|---|---|---|---|---|
| SQZ | STM | STMicroelectronics N.V. | Semiconductors | 86 % | 3.7 % |
| CWH | MHO | M/I Homes, Inc. | Residential Construction | 84.6 % | 1.7 % |
| SQZ | QIPT | Quipt Home Medical Corp. | Medical Devices | 84.3 % | 3.7 % |
| SQZ | SPSC | SPS Commerce, Inc. | Software - Infrastructure | 83.1 % | 3.5 % |
| SQZ | XPEL | XPEL, Inc. | Auto Parts | 82.1 % | 4.3 % |
| CWH | GRBK | Green Brick Partners, Inc. | Residential Construction | 80.8 % | 0.2 % |
| SQZ | ON | ON Semiconductor Corporation | Semiconductors | 80.6 % | 3.1 % |
| CWH | RELX | RELX PLC PLC American Dep | Publishing | 80.4 % | 1.1 % |
| SQZ | AEIS | Advanced Energy Industries, Inc. | Electrical Equipment & Parts | 79.8 % | 4.9 % |
| CWH | MTH | Meritage Homes Corporation | Residential Construction | 79.3 % | 0.2 % |
| SQZ | MPC | Marathon Petroleum Corporation | Oil & Gas Refining & Marketing | 79 % | 4.6 % |
| CWH | ASX | ASE Technology Holding Co., Ltd. American Deposita | Semiconductors | 78.9 % | 1.5 % |
| SQZ | FUTU | Futu Holdings Limited | Capital Markets | 78.4 % | 0.1 % |
| SQZ | PHM | PulteGroup, Inc. | Residential Construction | 78.3 % | 3 % |
| SQZ | ICHR | Ichor Holdings | Semiconductor Equipment & Materials | 77.1 % | 4.7 % |
| SQZ | DFH | Dream Finders Homes, Inc. | Residential Construction | 76.9 % | 4.7 % |
| SQZ | AMKR | Amkor Technology, Inc. | Semiconductors | 76.7 % | 2.1 % |
| CWH | NEU | NewMarket Corp | Specialty Chemicals | 76.5 % | 1.7 % |
| SQZ | WSO | Watsco, Inc. | Industrial Distribution | 76.4 % | 3.8 % |
| SQZ | DKNG | DraftKings Inc. | Gambling | 76.3 % | 2.6 % |
| *C score is our assessment of a Stock's correlation to CAN SLIM principles. It combines a stock's Technical and Fundamental merits and is expressed as a percentage. | |||||
Breakdowns within 5% of Breakdown Price
| Watchlist | Symbol | Company | Industry | C Score* | % Loss |
|---|---|---|---|---|---|
| SS | KFS | Kingsway Financial Services, Inc. | Auto & Truck Dealerships | 73.9 % | -1.3 % |
| SS | DIT | AMCON Distributing Company | Food Distribution | 57.2 % | -1.6 % |
| SS | HUM | Humana Inc. | Healthcare Plans | 53.7 % | -2 % |
| SS | EMBC | Embecta Corp. | Medical Instruments & Supplies | 52.5 % | -3.3 % |
| *C score is our assessment of a Stock's correlation to CAN SLIM principles. It combines a stock's Technical and Fundamental merits and is expressed as a percentage. | |||||
Cup and Handle Stocks Likely to Breakout at Next Session
| Symbol | BoP | Company | Industry | Within x% of BoP | C Score* | |
|---|---|---|---|---|---|---|
| There were no CWH stocks meeting our breakout model criteria | ||||||
| *C score is our assessment of a Stock's correlation to CAN SLIM principles. It combines a stock's Technical and Fundamental merits and is expressed as a percentage. | ||||||
Cup and Handle Chart of the Week
Lantheus Holdings (LNTH) shows just the kind of action we like to see after setting the pivot. The handle has bottomed and LNTH is now moving up the right side of the cup and could breakout in the coming days.
