Breakoutwatch Weekly Summary 05/17/2024
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Contents
Market Summary
Stocks climb back toward record highs on light volumes
The S&P 500 Index neared its all-time high and recorded its third consecutive week of gains. The other major indexes also advanced, with value stocks generally outperforming growth shares. T. Rowe Price traders noted that market volumes were especially low over much of the week, however, with Wednesday marking the lowest notional (in terms of the value of shares traded) session of the year and its third-lightest volume (in terms of number of shares traded) session. [more...]
Major Index Performance
| Dow Jones | |
|---|---|
| Last Close | |
| Wk. Gain | -100 % |
| Yr. Gain | -100 % |
| Trend | Up |
|
|
| S&P 500 | |
|---|---|
| Last Close | |
| Wk. Gain | -100 % |
| Yr. Gain | -100 % |
| Trend | Up |
|
|
| NASDAQ Comp. | |
|---|---|
| Last Close | |
| Wk. Gain | -100 % |
| Yr. Gain | -100 % |
| Trend | Up |
|
|
| Russell 2000 | |
|---|---|
| Last Close | |
| Wk. Gain | -100 % |
| Yr. Gain | -100 % |
| Trend | Up |
|
|
Performance by Sector
| Sector | Wk. Change % | Yr. Change % | Trend |
|---|---|---|---|
| Consumer Discretionary | -0.5 | 1.78 | Up |
| Consumer Staples | 0.72 | 9.85 | Up |
| Energy | -0.29 | 10.96 | Down |
| Finance | 0.56 | 11.56 | Up |
| Health Care | 1.56 | 6.92 | Up |
| Industrials | -0.77 | 10.6 | Up |
| Technology | 2.66 | 11.68 | Up |
| Materials | -0.57 | 6.84 | Up |
| REIT | 2.04 | -3.58 | Up |
| Telecom | 1.67 | 14.33 | Up |
| Utilities | 1.01 | 14.96 | Up |
Breakouts This Week Still Within 5% of Breakout Price (Limit 20 top C Score)
| Watchlist | Symbol | Company | Industry | C Score* | % Gain |
|---|---|---|---|---|---|
| CWH | PDD | PDD Holdings Inc. | Personal Services | 92.1 % | 0.3 % |
| SQZ | KEY | KeyCorp | Household & Personal Products | 74.5 % | 1.4 % |
| CWH | BGC | BGC Group, Inc. | Beverages - Non-Alcoholic | 72.1 % | 0.4 % |
| SQZ | FFNW | First Financial Northwest, Inc. | Household & Personal Products | 71.2 % | 2.7 % |
| CWH | TTD | The Trade Desk, Inc. | Utilities - Renewable | 69.5 % | 1.1 % |
| SQZ | PEGA | Pegasystems Inc. | Shell Companies | 69.3 % | 2.9 % |
| SQZ | NRP | Natural Resource Partners | Shell Companies | 67.8 % | 0.4 % |
| CWH | ATGE | Adtalem Global Education Inc. | Health Information Services | 66.5 % | 1.4 % |
| SQZ | STC | Stewart Information Services Corporation | Beverages - Wineries & Distilleries | 66.5 % | 0.2 % |
| SQZ | KRYS | Krystal Biotech, Inc. | Biotechnology | 64.9 % | 2.7 % |
| CWH | TWST | Twist Bioscience Corporation | Shell Companies | 64.6 % | 3.5 % |
| CWH | BRP | The Baldwin Insurance Group, Inc. | Beverages - Brewers | 63.5 % | 1.6 % |
| SQZ | SLG | SL Green Realty Corp | Shell Companies | 61.7 % | 1.7 % |
| SQZ | SWX | Southwest Gas Holdings, Inc. | Engineering & Construction | 61.6 % | 1.6 % |
| SQZ | SYRE | Spyre Therapeutics, Inc. | Shell Companies | 61.5 % | 2.1 % |
| SQZ | VERA | Vera Therapeutics, Inc. | Shell Companies | 60.9 % | 2.9 % |
| SQZ | AU | N/A | Gold | 59.4 % | 2.4 % |
| SQZ | M | N/A | Shell Companies | 58 % | 1.3 % |
| SQZ | DYN | Dyne Therapeutics, Inc. | Biotechnology | 52.4 % | 2.1 % |
| SQZ | ZIMV | ZimVie Inc. | Drug Manufacturers - General | 51.3 % | 1.7 % |
| *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. | |||||
Breakdowns within 5% of Breakdown Price
| Watchlist | Symbol | Company | Industry | C Score* | % Loss |
|---|---|---|---|---|---|
| SS | GE | N/A | Specialty Industrial Machinery | 75.8 % | -0.9 % |
| SS | URI | United Rentals, Inc. | Biotechnology | 75.8 % | -0.2 % |
| SS | YELP | Yelp Inc. | Software - Application | 65 % | -3.4 % |
| SS | VERA | Vera Therapeutics, Inc. | Biotechnology | 60.9 % | -1 % |
| SS | MRUS | Merus N.V. | Shell Companies | 60.5 % | -0.2 % |
| SS | GIII | N/A | Leisure | 56.4 % | -0.1 % |
| SS | SVRA | Savara, Inc. | Biotechnology | 49.6 % | -3.9 % |
| *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* |
|---|---|---|---|---|---|---|
| NCTY | 0 | Vera Therapeutics, Inc. | Biotechnology | 97.00 | 59.5 | |
| DOMA | 6.21 | Doma Holdings, Inc. | Credit Services | 99.00 | 97.58 | 65.7 |
| SLNO | 53.80 | Soleno Therapeutics, Inc. | Biotechnology | 99.00 | 84.87 | 57.8 |
| GCT | 41.31 | GigaCloud Technology Inc | Utilities - Regulated Gas | 98.00 | 87.65 | 88.3 |
| STTK | 42.2 | |||||
| LBPH | 23.96 | Longboard Pharmaceuticals, Inc. | Biotechnology | 97.00 | 85.6 | 58.2 |
| JMIA | 56.3 | |||||
| NVDA | 83 | |||||
| ALXO | 17.83 | ALX Oncology Holdings Inc. | Biotechnology | 94.00 | 82.22 | 53 |
| ADSE | 50.1 | |||||
| POWL | 82.9 | |||||
| PEPG | 15.22 | PepGen Inc. | Biotechnology | 93.00 | 89.68 | 45 |
| MRUS | 49.50 | Merus N.V. | Biotechnology | 92.00 | 90.95 | 60.5 |
| TILE | 18.18 | Interface, Inc. | Beverages - Non-Alcoholic | 92.00 | 86.3 | 59.4 |
| KURA | 53.3 | |||||
| ELMD | 18.60 | Electromed, Inc. | Drug Manufacturers - General | 89.00 | 91.72 | 71.9 |
| TRTX | 69.4 | |||||
| SNAP | 17.29 | Snap Inc. | Software - Infrastructure | 91.00 | 92.65 | 66.4 |
| UTI | 17.09 | Universal Technical Institute Inc | Biotechnology | 91.00 | 89.29 | 76.6 |
| ARDX | 9.33 | Ardelyx, Inc. | Biotechnology | 90.00 | 83.49 | 70.4 |
| BGC | 72.1 | |||||
| EDN | 21.02 | Empresa Distribuidora Y C | Specialty Business Services | 90.00 | 92.25 | 72.7 |
| SHAK | 111.29 | Shake Shack, Inc. | Residential Construction | 84.00 | 91.17 | 75 |
| TOST | 72.8 | |||||
| ELAN | 17.43 | Elanco Animal Health Inco | Recreational Vehicles | 87.00 | 97.42 | 56.5 |
| EVBG | 35.70 | Everbridge, Inc. | Utilities - Renewable | 88.00 | 97.37 | 64 |
| AG | 38.3 | |||||
| ENV | 68.83 | Envestnet, Inc | Utilities - Renewable | 85.00 | 96.32 | 74.7 |
| QRTEP | 51.20 | Qurate Retail, Inc. | Personal Services | 86.00 | 98.14 | 36.6 |
| MEG | 71.7 | |||||
| RPAY | 11.04 | Repay Holdings Corporation | Utilities - Regulated Gas | 83.00 | 91.39 | 57.6 |
| AGIO | 35.48 | Agios Pharmaceuticals, Inc. | Biotechnology | 86.00 | 98.65 | 57.5 |
| PESI | 70.8 | |||||
| ALKT | 27.94 | Alkami Technology, Inc. | Utilities - Renewable | 87.00 | 95.35 | 72.1 |
| HCC | 77.9 | |||||
| RBB | 18.94 | RBB Bancorp | Household & Personal Products | 84.00 | 98.79 | 67.5 |
| CSWI | 71.8 | |||||
| NR | 65.1 | |||||
| CAL | 39.97 | Caleres, Inc. | Resorts & Casinos | 80.00 | 92.17 | 63.5 |
| HCP | 33.01 | HashiCorp, Inc. | Utilities - Regulated Gas | 84.00 | 99.76 | 71.9 |
| LFVN | 63.9 | |||||
| DVA | 145.04 | DaVita Inc. | Health Information Services | 81.00 | 94.1 | 75.3 |
| ZBRA | 66.4 | |||||
| MPWR | 68.7 | |||||
| LMNR | 22.00 | Limoneira Co | Credit Services | 81.00 | 96.45 | 60.9 |
| BRP | 63.5 | |||||
| JFIN | 77.4 | |||||
| WCC | 67.4 | |||||
| VEON | 52.9 | |||||
| TGTX | 59.4 | |||||
| MTH | 72.2 | |||||
| NWPX | 64.5 | |||||
| GLDD | 58.9 | |||||
| BFH | 72.1 | |||||
| ANAB | 27.02 | AnaptysBio, Inc. | Biotechnology | 83.00 | 94.26 | 58.3 |
| AMRK | 42.48 | A-Mark Precious Metals, Inc. | Beverages - Non-Alcoholic | 81.00 | 87.31 | 73 |
| AESI | 24.03 | Atlas Energy Solutions Inc. | Marine Shipping | 81.00 | 96.34 | 70 |
| AMKR | 67.9 | |||||
| TTD | 69.5 | |||||
| CHEF | 68.1 | |||||
| CXW | 68.7 | |||||
| SAP | 73.4 | |||||
| HIW | 55.6 | |||||
| IBCP | 72.1 | |||||
| *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
There were no cup and handle stocks meeting our breakout model criteria this week.