Breakoutwatch Weekly Summary 06/10/2024

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Contents

Market Summary

Major benchmarks end mixed as longer-term bond yields fall

The major indexes ended mixed for the week, as investors appeared to weigh contradictory data from the week’s busy economic calendar. The S&P 500 Index and technology-heavy Nasdaq Composite reached record intraday highs, but the smaller-cap indexes pulled back. Relatedly, growth stocks outpaced value shares by the widest amount since early in the year, as falling longer-term interest rates increased the notional value of future earnings. [more...]

Major Index Performance

Dow Jones
Last Close 38799
Wk. Gain 0.23 %
Yr. Gain 3.28 %
Trend Down
Dow Jones
S&P 500
Last Close 5347
Wk. Gain 0.94 %
Yr. Gain 12.69 %
Trend Up
S&P 500
NASDAQ Comp.
Last Close 17133
Wk. Gain 1.58 %
Yr. Gain 15.19 %
Trend Up
NASDAQ Comp.
Russell 2000
Last Close 2027
Wk. Gain -2.64 %
Yr. Gain 0.7 %
Trend Down
Russell 2000

Performance by Sector

Sector Wk. Change % Yr. Change % Trend
Consumer Discretionary 0.86 1 Down
Consumer Staples 0.14 8.3 Up
Energy -0.2 6.56 Down
Finance 0.36 9.24 Down
Health Care 1.02 6.88 Up
Industrials 0.08 7.81 Down
Technology 2.39 15.03 Up
Materials -1.08 4.35 Down
REIT 0.18 -5.78 Down
Telecom 1 16.08 Up
Utilities -2.52 11.11 Down

Breakouts This Week Still Within 5% of Breakout Price (Limit 20 top C Score)

Watchlist Symbol Company Industry C Score* % Gain
SQZ PLMR Palomar Holdings, Inc. Insurance - Property & Casualty 79.7 % 0.8 %
SQZ META Meta Platforms, Inc. Grocery Stores 74.8 % 3.3 %
CWH SIMO Silicon Motion Technology Corporation Semiconductors 71.1 % 0.7 %
SQZ EMN Eastman Chemical Company Specialty Chemicals 67.8 % 2.3 %
SQZ BKNG Booking Holdings Inc. Travel Services 65.8 % 0.1 %
CWH ASML N/A Biotechnology 63.5 % 3.6 %
SQZ CGNT Cognyte Software Ltd. Software - Infrastructure 63.4 % 0.4 %
SQZ HCP N/A Utilities - Regulated Gas 62.2 % 0.2 %
SQZ EZPW EZCORP, Inc. Credit Services 62 % 0.5 %
SQZ RYTM Rhythm Pharmaceuticals, Inc. Biotechnology 60 % 0.7 %
CWH JMIA N/A Personal Services 58.6 % 0.9 %
SQZ PROP Prairie Operating Co. Capital Markets 53.9 % 1.3 %
SQZ CLFD N/A Utilities - Regulated Water 52.5 % 1.6 %
*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 UTI Universal Technical Institute Inc Biotechnology 67.7 % -4.7 %
SS NCMI National CineMedia, Inc. Advertising Agencies 66.3 % -0.4 %
SS SCS Steelcase Inc. Business Equipment & Supplies 65.2 % -1.5 %
SS MDXG MiMedx Group, Inc Biotechnology 65 % -2.1 %
SS GE GE Aerospace Aerospace & Defense 64.8 % -0.1 %
SS WAL Western Alliance Bancorporation Household & Personal Products 63.3 % -3.7 %
SS NN NextNav Inc. Utilities - Regulated Gas 60.3 % -3 %
SS OBT Orange County Bancorp, Inc. Household & Personal Products 60.3 % -2.1 %
SS HOV Hovnanian Enterprises, Inc. Residential Construction 60.1 % -2.4 %
SS NMRK Newmark Group, Inc. Oil & Gas Midstream 57.9 % -4.2 %
SS TTSH Tile Shop Holdings, Inc. Home Improvement Retail 51.1 % -0.7 %
SS SPRY ARS Pharmaceuticals, Inc. Biotechnology 50.2 % -2.7 %
SS PSTX Poseida Therapeutics, Inc. Biotechnology 50.1 % -2.5 %
SS FHTX Foghorn Therapeutics Inc. Biotechnology 48 % -1.2 %
SS CTRN Citi Trends, Inc. Apparel Retail 44.8 % -4.9 %
SS TDUP ThredUp Inc. Personal Services 42.9 % -2.2 %
SS VYGR Voyager Therapeutics, Inc. Biotechnology 41.3 % -2.1 %
SS NAUT Nautilus Biotechnology, Inc. Biotechnology 30.8 % -2.6 %
*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 9.26 The9 Limited Capital Markets 99.00 91.14 75.9
SKIL 10.31 Skillsoft Corp. Class A Education & Training Services 98.00 88.94 54.4
ARR 19.82 ARMOUR Residential REIT, Inc. REIT - Mortgage 97.00 98.64 65.7
CURV 6.86 Torrid Holdings Inc. Apparel Retail 97.00 95.77 58.3
GPS 29.08 Gap, Inc. Apparel Retail 95.00 87.59 69.6
PEPG 18.35 PepGen Inc. Biotechnology 95.00 90.3 49.5
BLTE 49.16 Belite Bio, Inc Biotechnology 94.00 98.6 57.6
BWAY 7.30 BrainsWay Ltd. Medical Devices 94.00 88.22 37.5
KURA 23.10 Kura Oncology, Inc. Biotechnology 93.00 94.2 47.6
WIRE 289.35 Encore Wire Corporation Electrical Equipment & Parts 92.00 99.78 58.6
GPCR 58.38 Structure Therapeutics Inc. Biotechnology 92.00 90.9 48.3
MPTI 39.68 M-tron Industries, Inc. Electronic Components 92.00 87.42 65
ITOS 18.75 iTeos Therapeutics, Inc. Biotechnology 91.00 89.07 52.1
HEAR 17.06 Turtle Beach Corporation Consumer Electronics 91.00 90.42 62.6
AMCX 18.58 AMC Networks Inc. Entertainment 90.00 92.84 62.9
LPG 51.66 Dorian LPG Ltd. Oil & Gas Midstream 90.00 85.69 66.6
DAKT 11.93 Daktronics, Inc. Electronic Components 89.00 95.22 65.3
AMAT 225.07 Applied Materials, Inc. Semiconductor Equipment & Materials 89.00 98.52 67.8
ESEA 41.54 Euroseas Ltd. Marine Shipping 88.00 91.79 64.1
MARA 22.86 Marathon Digital Holdings, Inc. Capital Markets 88.00 84.3 69
TRMD 38.51 TORM plc Oil & Gas Midstream 88.00 94.94 37.4
RL 187.50 Ralph Lauren Corporation Apparel Manufacturing 87.00 96.94 68.6
SILK 22.89 Silk Road Medical, Inc. Medical Devices 87.00 91 54.2
WWW 14.45 Wolverine World Wide, Inc. Footwear & Accessories 87.00 90.66 53.4
JWN 22.59 Nordstrom, Inc. Department Stores 87.00 95.17 64
ARLP 25.01 Alliance Resource Partners, L.P. Thermal Coal 86.00 98.32 56.7
MEC 16.54 Mayville Engineering Company, Inc. Metal Fabrication 86.00 99.21 66.5
OLMA 15.36 Olema Pharmaceuticals, Inc. Biotechnology 85.00 85.48 49.6
CXW 16.46 CoreCivic, Inc. Security & Protection Services 85.00 93.68 61.9
EVR 206.32 Evercore Inc. Capital Markets 85.00 93.35 63.5
MPWR 776.01 Monolithic Power Systems, Inc. Semiconductors 85.00 96.86 66.4
FSS 92.03 Federal Signal Corporation Pollution & Treatment Controls 85.00 93.2 69.1
LRCX 992.66 Lam Research Corporation Semiconductor Equipment & Materials 85.00 96.98 65.4
LILA 9.11 Liberty Latin America Ltd. Telecom Services 85.00 97.15 57.6
CRK 11.86 Comstock Resources, Inc. Oil & Gas Exploration & Production 84.00 98.65 50.7
CTAS 705.74 Cintas Corporation Specialty Business Services 84.00 96.66 69.3
SEM 35.08 Select Medical Holdings Corporation Medical Care Facilities 84.00 95.38 62.5
SIG 109.53 Signet Jewelers Limited Luxury Goods 84.00 96.53 67.3
HA 13.86 Hawaiian Holdings, Inc. Airlines 83.00 96.39 54.4
MKSI 135.00 MKS Instruments, Inc. Scientific & Technical Instruments 83.00 94.96 60.5
SRCL 59.41 Stericycle, Inc. Waste Management 83.00 99.26 58.9
KGS 29.43 Kodiak Gas Services, Inc. Oil & Gas Equipment & Services 83.00 87.29 61.7
SBOW 39.51 SilverBow Resorces, Inc. Oil & Gas Exploration & Production 83.00 96.18 69.2
SCS 14.04 Steelcase Inc. Business Equipment & Supplies 83.00 89.25 65.2
LFVN 8.05 Lifevantage Corporation Electronic Components 83.00 95.53 59.9
PCVX 76.00 Vaxcyte, Inc. Biotechnology 82.00 93.38 45.4
DCO 60.00 Ducommun Inco Aerospace & Defense 82.00 96.63 61
KSPI 129.65 Joint Stock Company Kaspi.kz Software - Infrastructure 81.00 97.62 36.1
NXT 58.38 Nextracker Inc. Solar 81.00 95.32 64.1
HOV 184.42 Hovnanian Enterprises, Inc. Residential Construction 81.00 80.34 60.1
MEOH 56.43 Methanex Corporation Chemicals 81.00 90.18 60.4
ERO 24.34 Ero Copper Corp. Copper 80.00 80.61 54.9
TRTX 8.96 TPG RE Finance Trust, Inc. REIT - Mortgage 80.00 93.42 52.9
BFH 42.73 Bread Financial Holdings, Inc. Credit Services 80.00 96.3 61.9
*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 Chart of the Week

There were no cup and handle stocks meeting our breakout model criteria this week.