Breakoutwatch Weekly Summary 05/02/2024
You are receiving this email because you are or were a
BreakoutWatch.com subscriber, or have subscribed to our weekly
newsletter.
To read this newsletter on the site, click here: Newsletter
.
Market Summary
Stocks break losing streak
The S&P 500 Index and most other major benchmarks managed to snap a string of three weekly losses as investors responded to the busiest week of the first-quarter earnings reporting season. As of the end of the week, analysts polled by FactSet were expecting overall earnings for the S&P 500 to have increased 3.7% in the first quarter relative to the year before, with “both the percentage of S&P 500 companies reporting positive earnings surprises and the magnitude of earnings surprises... above their 10-year averages.” [more...]
Major Index Performance
| Dow Jones
|
| Last Close
| |
| Wk. Gain
| NAN % |
| Yr. Gain
| -100 % |
| Trend
| Down |
|
| S&P 500
|
| Last Close
| |
| Wk. Gain
| NAN % |
| Yr. Gain
| -100 % |
| Trend
| Down |
|
| NASDAQ Comp.
|
| Last Close
| |
| Wk. Gain
| NAN % |
| Yr. Gain
| -100 % |
| Trend
| Down |
|
| Russell 2000
|
| Last Close
| |
| Wk. Gain
| NAN % |
| Yr. Gain
| -100 % |
| Trend
| Down |
|
Performance by Sector
| Sector |
Wk. Change % |
Yr. Change % |
Trend |
| Consumer Discretionary |
-1.07 |
0.4 |
Up |
| Consumer Staples |
0.12 |
5.96 |
Up |
| Energy |
-3.2 |
9.42 |
Down |
| Finance |
-0.64 |
7.22 |
Down |
| Health Care |
0.53 |
2.98 |
Down |
| Industrials |
-0.52 |
7.73 |
Down |
| Technology |
-1.98 |
3.78 |
Down |
| Materials |
-0.82 |
3.55 |
Down |
| REIT |
0.31 |
-8.28 |
Down |
| Telecom |
0.33 |
10.55 |
Down |
| Utilities |
2.15 |
8.22 |
Up |
Breakouts This Week Still Within 5% of Breakout Price (Limit 20 top C Score)
| Watchlist |
Symbol |
Company |
Industry |
C Score* |
% Gain |
| SQZ |
BMA |
Banco Macro S.A. ADR (representing Ten Class B |
Banks - Regional |
75.3 % |
3.6 % |
| SQZ |
GLP |
Global Partners LP |
Information Technology Services |
68 % |
1.6 % |
| SQZ |
UVE |
UNIVERSAL INSURANCE HOLDINGS INC |
Uranium |
65.5 % |
1 % |
| CWH |
GNK |
Genco Shipping & Trading |
Marine Shipping |
63.3 % |
2.5 % |
| SQZ |
NAMS |
NewAmsterdam Pharma Company N.V. |
Biotechnology |
59.6 % |
3.4 % |
| SQZ |
GIII |
N/A |
Apparel Manufacturing |
59 % |
1.2 % |
| SQZ |
RACE |
Ferrari N.V. |
Auto Manufacturers |
36.7 % |
2.1 % |
| *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. |
Breakdowns within 5% of Breakdown Price
| Watchlist |
Symbol |
Company |
Industry |
C Score* |
% Loss |
| SS |
SKT |
Tanger Inc. |
REIT - Retail |
75.3 % |
-1.7 % |
| SS |
URI |
United Rentals, Inc. |
Biotechnology |
75.2 % |
-2.2 % |
| SS |
CEIX |
CONSOL Energy Inc. |
Thermal Coal |
62 % |
-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. |
| 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
There were no cup and handle stocks meeting our breakout model criteria this week.