Breakoutwatch Weekly Summary 11/03/2023
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Contents
Market Summary
Stocks see best gain since November 2022 on falling yields
The S&P 500 Index recorded its strongest weekly gain in nearly a year, as signs of a slowing economy and a policy statement from the Federal Reserve that was generally perceived as dovish led to a sharp decrease in long-term bond yields. Growth stocks and the technology-heavy Nasdaq Composite Index outperformed somewhat, but the gains were broad-based and led by the small-cap Russell 2000 Index, which scored its best weekly gain since October 2022. [more...]
Major Index Performance
| Dow Jones | |
|---|---|
| Last Close | 34061.3 |
| Wk. Gain | 4.68 % |
| Yr. Gain | 2.75 % |
| Trend | Down |
|
|
| S&P 500 | |
|---|---|
| Last Close | 4358.34 |
| Wk. Gain | 5.29 % |
| Yr. Gain | 13.12 % |
| Trend | Down |
|
|
| NASDAQ Comp. | |
|---|---|
| Last Close | 13478.3 |
| Wk. Gain | 5.71 % |
| Yr. Gain | 27.61 % |
| Trend | Down |
|
|
| Russell 2000 | |
|---|---|
| Last Close | 1760.7 |
| Wk. Gain | 6.95 % |
| Yr. Gain | -0.53 % |
| Trend | Down |
|
|
Performance by Sector
| Sector | Wk. Change % | Yr. Change % | Trend |
|---|---|---|---|
| Consumer Discretionary | 6.63 | 24.1 | Up |
| Consumer Staples | 2.89 | -5.15 | Up |
| Energy | 2.27 | 2.02 | Down |
| Finance | 6.89 | -0.79 | Up |
| Health Care | 3.11 | -6.52 | Down |
| Industrials | 5.07 | 6.66 | Down |
| Technology | 6.07 | 35.3 | Down |
| Materials | 4.41 | 1.29 | Up |
| REIT | 8.24 | -5.93 | Up |
| Telecom | 6.96 | 33.73 | Down |
| Utilities | 5.02 | -13.74 | Up |
Breakouts This Week Still Within 5% of Breakout Price (Limit 20 top C Score)
| Watchlist | Symbol | Company | Industry | C Score* | % Gain |
|---|---|---|---|---|---|
| SQZ | ICPT | Intercept Pharmaceuticals, Inc. | Biotechnology | 86.2 % | 0.1 % |
| SQZ | MNSO | MINISO Group Holding Limi | Specialty Retail | 80.2 % | 3.4 % |
| SQZ | GBDC | Golub Capital BDC, Inc. | Asset Management | 79.9 % | 2.6 % |
| CWH | QLYS | Qualys, Inc. | Software - Infrastructure | 79.7 % | 3 % |
| CWH | CXW | CoreCivic, Inc. | Specialty Industrial Machinery | 77.3 % | 3 % |
| SQZ | LI | Li Auto Inc. | Auto Manufacturers | 76.9 % | 3.9 % |
| CWH | PSN | Parsons Corporation | Information Technology Services | 76.6 % | 4.7 % |
| CWH | EQT | EQT Corporation | Asset Management | 76.1 % | 0.1 % |
| CWH | VRTX | Vertex Pharmaceuticals Inco | Biotechnology | 75.9 % | 0.1 % |
| SQZ | TJX | TJX Companies, Inc. | Apparel Retail | 75.9 % | 1.2 % |
| SQZ | LEU | Centrus Energy Corp. Class A | Uranium | 75.7 % | 0.6 % |
| SQZ | COKE | Coca-Cola Consolidated, Inc. | Beverages - Non-Alcoholic | 75 % | 1.9 % |
| DB | DKNG | DraftKings Inc. | Gambling | 74.9 % | 3.4 % |
| DB | TM | Toyota Motor Corporation | Auto Manufacturers | 74.8 % | 3.6 % |
| SQZ | SPOK | Spok Holdings, Inc. | Health Information Services | 74.7 % | 2.5 % |
| SQZ | LIN | Linde plc Ordinary Shares | Specialty Chemicals | 74.5 % | 3.6 % |
| CWH | VIV | Telefonica Brasil S.A. American Depositary Shares | Telecom Services | 74.2 % | 3.6 % |
| CWH | TIMB | TIM S.A. American Depositary Shares (Each represen | Telecom Services | 73.7 % | 4 % |
| DB | MSI | Motorola Solutions, Inc. | Communication Equipment | 73.6 % | 1.5 % |
| SQZ | NABL | N-able, Inc. | Information Technology Services | 72.9 % | 1.4 % |
| *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 | MDWT | Midwest Holding Inc. | Insurance - Life | 78.7 % | -0.9 % |
| SS | SXC | SunCoke Energy, Inc. | Coking Coal | 66.4 % | -3.2 % |
| SS | ZEUS | Olympic Steel, Inc. | Steel | 61.6 % | -1.5 % |
| SS | REPX | Riley Exploration Permian, Inc. | Biotechnology | 58.8 % | -1.1 % |
| *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* |
|---|---|---|---|---|---|
| KTOS | 17.85 | Kratos Defense & Security Solutions, Inc. | Asset Management | 95.52 | 72 |
| PSN | 58.87 | Parsons Corporation | Information Technology Services | 96.06 | 76.6 |
| RNR | 224.00 | RenaissanceRe Holdings Ltd. | Insurance - Reinsurance | 98.03 | 72.8 |
| COOP | 57.80 | Mr. Cooper Group Inc. | Mortgage Finance | 97.8 | 66.7 |
| EG | 410.74 | Everest Group, Ltd. | Insurance - Reinsurance | 96.32 | 80.8 |
| TIMB | 15.66 | TIM S.A. American Depositary Shares (Each represen | Telecom Services | 96.36 | 73.7 |
| VIV | 9.32 | Telefonica Brasil S.A. American Depositary Shares | Telecom Services | 95.6 | 74.2 |
| HUM | 530.54 | Humana Inc. | Healthcare Plans | 98.71 | 67.1 |
| GEL | 11.63 | Genesis Energy, L.P. | Health Information Services | 95.27 | 71.1 |
| *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
Aug. 16, 2023 /PRNewswire/ -- IDEAYA Biosciences, Inc. (Nasdaq: IDYA), a precision medicine oncology company committed to the discovery and development of targeted therapeutics, announced the achievement of First-Patient-In for the company-sponsored Phase 2 clinical trial evaluating darovasertib as neoadjuvant and adjuvant therapy in primary uveal melanoma (UM) patients.
