Breakoutwatch Weekly Summary 02/06/2024
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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
| 38521.4 |
| Wk. Gain
| 0.91 % |
| Yr. Gain
| 2.54 % |
| Trend
| Up |
|
| S&P 500
|
| Last Close
| 4954.23 |
| Wk. Gain
| 1.92 % |
| Yr. Gain
| 4.41 % |
| Trend
| Up |
|
| NASDAQ Comp.
|
| Last Close
| 15609 |
| Wk. Gain
| 2.33 % |
| Yr. Gain
| 4.94 % |
| Trend
| Up |
|
| Russell 2000
|
| Last Close
| 1953.63 |
| Wk. Gain
| -0.32 % |
| Yr. Gain
| -2.95 % |
| Trend
| Up |
|
Performance by Sector
| Sector |
Wk. Change % |
Yr. Change % |
Trend |
| Consumer Discretionary |
2.23 |
-0.85 |
Up |
| Consumer Staples |
1.3 |
2.7 |
Up |
| Energy |
-0.68 |
-1.47 |
Down |
| Finance |
0.04 |
2.42 |
Up |
| Health Care |
2.4 |
5.39 |
Up |
| Industrials |
1.87 |
2.04 |
Up |
| Technology |
1.64 |
5.55 |
Up |
| Materials |
-1.26 |
-3.54 |
Down |
| REIT |
-0.13 |
-4.95 |
Down |
| Telecom |
2.83 |
8.59 |
Up |
| Utilities |
-1.13 |
-4.17 |
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 |
81.8 % |
3.2 % |
| CWH |
FTNT |
Fortinet, Inc. |
Software - Infrastructure |
80 % |
0.2 % |
| SQZ |
CECO |
CECO Environmental Corp. |
Chemicals |
79.9 % |
0.3 % |
| SQZ |
EXPE |
Expedia Group, Inc. |
Travel Services |
77.2 % |
1.7 % |
| CWH |
MIXT |
MiX Telematics Limited Am |
Software - Application |
76.5 % |
2.2 % |
| CWH |
SURG |
SurgePays, Inc. |
Software - Application |
75.7 % |
4 % |
| DB |
CAAP |
Corporacion America Airports SA |
Banks - Diversified |
75.4 % |
3.2 % |
| SQZ |
CSL |
Carlisle Companies Inco |
Solar |
74.5 % |
1.1 % |
| SQZ |
FROG |
JFrog Ltd. |
Software - Application |
73.8 % |
2.8 % |
| CWH |
HUBB |
Hubbell Inc |
Asset Management |
72.8 % |
0.9 % |
| CWH |
TME |
Tencent Music Entertainme |
Medical Devices |
70.1 % |
2.3 % |
| SQZ |
SP |
SP Plus Corporation |
Specialty Business Services |
70 % |
0.1 % |
| SQZ |
CARG |
CarGurus, Inc. |
Banks - Regional |
69.4 % |
1 % |
| CWH |
ASND |
Ascendis Pharma A/S |
Biotechnology |
68.2 % |
0.6 % |
| CWH |
SNOW |
Snowflake Inc. |
Software - Application |
67.6 % |
1.6 % |
| SQZ |
OC |
Owens Corning Inc |
Banks - Regional |
66.9 % |
0.7 % |
| CWH |
TNGX |
Tango Therapeutics, Inc. |
Biotechnology |
64.5 % |
1.9 % |
| CWH |
PIPR |
Piper Sandler Companies |
Capital Markets |
63.6 % |
0 % |
| SQZ |
LEN |
Lennar Corporation Class A |
Residential Construction |
62.7 % |
0.9 % |
| CWH |
PI |
Impinj, Inc. |
Communication Equipment |
62.1 % |
2 % |
| *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 |
73.6 % |
-1.5 % |
| SS |
PR |
Permian Resources Corporation Class A |
Asset Management |
73 % |
-1 % |
| SS |
REKR |
Rekor Systems, Inc. |
Software - Infrastructure |
67.3 % |
-1.6 % |
| SS |
OII |
Oceaneering International, Inc. |
Asset Management |
65.4 % |
-2 % |
| SS |
MARA |
Marathon Digital Holdings, Inc. |
Capital Markets |
64 % |
-3.7 % |
| SS |
HAL |
Halliburton Company |
Packaged Foods |
61.4 % |
-4.6 % |
| SS |
SOFI |
SoFi Technologies, Inc. |
Credit Services |
57.3 % |
-4.9 % |
| SS |
FSP |
Franklin Street Properties Corp. |
REIT - Office |
55.4 % |
-3.6 % |
| SS |
UDMY |
Udemy, Inc. |
Telecom Services |
36.1 % |
-2.9 % |
| SS |
ULBI |
Ultralife Corporation |
Real Estate Services |
32.2 % |
-3.5 % |
| SS |
TRDA |
Entrada Therapeutics, Inc. |
Biotechnology |
27.4 % |
-4.7 % |
| SS |
WOR |
Worthington Enterprises, Inc. |
Metal Fabrication |
25.9 % |
-2.3 % |
| SS |
VTLE |
Vital Energy, Inc. |
Biotechnology |
21.8 % |
-4.3 % |
| SS |
YEXT |
Yext, Inc. |
Software - Infrastructure |
15.7 % |
-1.3 % |
| *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 next Week
| Symbol |
BoP |
Company |
Industry |
Relative Strength Rank |
Within x% of BoP |
C Score* |
| GRPN |
0 |
UFP Technologies, Inc. |
Medical Devices |
79.00 |
|
64.9 |
| SURG |
|
|
|
|
|
75.7 |
| PRCT |
|
|
|
|
|
57.4 |
| MKSI |
112.66 |
MKS Instruments, Inc. |
Insurance - Property & Casualty |
85.00 |
95.76 |
67.5 |
| CG |
41.40 |
The Carlyle Group Inc. |
Asset Management |
87.00 |
98.36 |
65.7 |
| *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.
