Breakoutwatch Weekly Summary 02/04/2024
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Market Summary
Large-cap benchmarks hit new highs, but small-caps struggle
The major indexes ended the week mixed amid a slew of significant earnings reports and economic data. The S&P 500 Index and Dow Jones Industrial Average moved to intraday highs, but the small-cap indexes recorded losses. The advance was also narrow, with an equally weighted version of the S&P 500 Index recording a modest loss. The week closed out the month of January with the S&P 500 advancing 1.6% over the month, while the equal-weight S&P 500 fell 0.90%, and the small-cap Russell 2000 Index declined nearly 4.0%. [more...]
Major Index Performance
| Dow Jones
|
| Last Close
| 38654 |
| Wk. Gain
| 1.41 % |
| Yr. Gain
| 2.9 % |
| Trend
| Up |
|
| S&P 500
|
| Last Close
| 4959 |
| Wk. Gain
| 1.35 % |
| Yr. Gain
| 4.51 % |
| Trend
| Up |
|
| NASDAQ Comp.
|
| Last Close
| 15629 |
| Wk. Gain
| 1.02 % |
| Yr. Gain
| 5.08 % |
| Trend
| Up |
|
| Russell 2000
|
| Last Close
| 1963 |
| Wk. Gain
| -0.76 % |
| Yr. Gain
| -2.48 % |
| Trend
| Up |
|
Performance by Sector
| Sector |
Wk. Change % |
Yr. Change % |
Trend |
| Consumer Discretionary |
2.66 |
0.07 |
Down |
| Consumer Staples |
1.86 |
3.08 |
Up |
| Energy |
-1.21 |
-1.64 |
Down |
| Finance |
0.67 |
2.95 |
Up |
| Health Care |
1.64 |
3.92 |
Up |
| Industrials |
2.07 |
1.89 |
Up |
| Technology |
0.12 |
5.68 |
Up |
| Materials |
0.48 |
-2.55 |
Down |
| REIT |
-0.67 |
-4.2 |
Down |
| Telecom |
2.6 |
10.04 |
Up |
| Utilities |
0.52 |
-2.52 |
Down |
Breakouts This Week Still Within 5% of Breakout Price (Limit 20 top C Score)
| Watchlist |
Symbol |
Company |
Industry |
C Score* |
% Gain |
| SQZ |
EDU |
New Oriental Education & Technology Group, Inc. |
Biotechnology |
81.4 % |
4 % |
| SQZ |
TGS |
Transportadora de Gas del Sur SA TGS |
Broadcasting |
80.8 % |
0.1 % |
| SQZ |
CECO |
CECO Environmental Corp. |
Chemicals |
79.9 % |
0.7 % |
| SQZ |
LRN |
Stride, Inc. |
Biotechnology |
79.4 % |
0.5 % |
| SQZ |
FCNCA |
First Citizens BancShares, Inc. |
Banks - Regional |
76.9 % |
2.3 % |
| CWH |
MIXT |
MiX Telematics Limited Am |
Software - Application |
76.3 % |
0.9 % |
| SQZ |
FROG |
JFrog Ltd. |
Software - Application |
74.3 % |
3.9 % |
| SQZ |
CSL |
Carlisle Companies Inco |
Solar |
74 % |
2.2 % |
| SQZ |
CAAP |
Corporacion America Airports SA |
Banks - Diversified |
73.6 % |
2 % |
| CWH |
HUBB |
Hubbell Inc |
Asset Management |
73.2 % |
1.9 % |
| SQZ |
FEIM |
Frequency Electronics, Inc. |
Communication Equipment |
73.1 % |
1.1 % |
| SQZ |
CNXN |
PC Connection, Inc. |
Information Technology Services |
70.7 % |
0.2 % |
| SQZ |
CARG |
CarGurus, Inc. |
Banks - Regional |
68.8 % |
1.2 % |
| SQZ |
WIRE |
Encore Wire Corporation |
Shell Companies |
68.8 % |
4.8 % |
| CWH |
SNOW |
Snowflake Inc. |
Software - Application |
68 % |
4 % |
| SQZ |
OC |
Owens Corning Inc |
Banks - Regional |
66.2 % |
2.1 % |
| CWH |
TNGX |
Tango Therapeutics, Inc. |
Biotechnology |
64.4 % |
3.1 % |
| SQZ |
HIBB |
Hibbett, Inc. |
Apparel Retail |
63.3 % |
1 % |
| SQZ |
CRESY |
Cresud S.A.C.I.F. y A. |
Conglomerates |
63 % |
2.3 % |
| SQZ |
LEN |
Lennar Corporation Class A |
Residential Construction |
62.7 % |
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. |
Breakdowns within 5% of Breakdown Price
| Watchlist |
Symbol |
Company |
Industry |
C Score* |
% Loss |
| SS |
NGS |
Natural Gas Services Group, Inc. |
Biotechnology |
72.9 % |
-0.3 % |
| SS |
PR |
Permian Resources Corporation Class A |
Asset Management |
70.8 % |
-2.7 % |
| SS |
UDMY |
Udemy, Inc. |
Telecom Services |
70.6 % |
-0.9 % |
| SS |
OII |
Oceaneering International, Inc. |
Asset Management |
64.4 % |
-2.5 % |
| SS |
HAL |
Halliburton Company |
Packaged Foods |
61 % |
-4.8 % |
| SS |
ULBI |
Ultralife Corporation |
Real Estate Services |
60.1 % |
-1 % |
| SS |
TRDA |
Entrada Therapeutics, Inc. |
Biotechnology |
58.3 % |
-1 % |
| SS |
FSP |
Franklin Street Properties Corp. |
REIT - Office |
57 % |
-0.4 % |
| SS |
SOFI |
SoFi Technologies, Inc. |
Credit Services |
55.2 % |
-3.9 % |
| SS |
ROIV |
Roivant Sciences Ltd. |
Biotechnology |
51.3 % |
-2.9 % |
| *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 next Week
| Symbol |
BoP |
Company |
Industry |
Relative Strength Rank |
Within x% of BoP |
C Score* |
| GRPN |
14.43 |
Groupon, Inc. |
Biotechnology |
96.00 |
97.19 |
64.6 |
| SURG |
7.81 |
SurgePays, Inc. |
Software - Application |
92.00 |
96.16 |
74.4 |
| PRCT |
49.39 |
PROCEPT BioRobotics Corporation |
Medical Devices |
90.00 |
97 |
56.4 |
| MKSI |
112.66 |
MKS Instruments, Inc. |
Computer Hardware |
86.00 |
97.06 |
66.9 |
| CG |
41.40 |
The Carlyle Group Inc. |
Asset Management |
85.00 |
98.91 |
65.4 |
| *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. |
Cup and Handle Chart of the Week
MKS Intruments obtained the best score in my cup and handle breakout model. Although SURG has a higher CAN SLIM score, MKSI is closer to breakout.
