Breakoutwatch Weekly Summary 07/05/2024
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Contents
Market Summary
Small-caps and tech stocks outperform in quiet week
Most major U.S. stock indexes posted gains in a light news week during what seemed to be a bit of a lull in market activity ahead of second-quarter earnings reports, according to T. Rowe Price traders. Small-cap companies and information technology stocks performed best, with growth stocks outpacing their value cousins. Index provider FTSE Russell was due to rebalance its series of Russell indexes after the close on Friday, so some of the week’s activity may have stemmed from positioning adjustments by investors tracking those indexes. [more...]
Major Index Performance
| Dow Jones | |
|---|---|
| Last Close | 39308 |
| Wk. Gain | 0.55 % |
| Yr. Gain | 4.64 % |
| Trend | Up |
|
|
| S&P 500 | |
|---|---|
| Last Close | 5537 |
| Wk. Gain | 0.89 % |
| Yr. Gain | 16.69 % |
| Trend | Up |
|
|
| NASDAQ Comp. | |
|---|---|
| Last Close | 18188 |
| Wk. Gain | 1.66 % |
| Yr. Gain | 22.28 % |
| Trend | Up |
|
|
| Russell 2000 | |
|---|---|
| Last Close | 2037 |
| Wk. Gain | -0.68 % |
| Yr. Gain | 1.19 % |
| Trend | Up |
|
|
Performance by Sector
| Sector | Wk. Change % | Yr. Change % | Trend |
|---|---|---|---|
| Consumer Discretionary | 1.37 | 5.05 | Up |
| Consumer Staples | -0.7 | 6.4 | Down |
| Energy | 0.13 | 8.75 | Up |
| Finance | 1.2 | 9.82 | Up |
| Health Care | -2.05 | 4.88 | Down |
| Industrials | -0.36 | 7.32 | Down |
| Technology | 2.17 | 24.04 | Up |
| Materials | -0.63 | 1.66 | Down |
| REIT | -0.25 | -5.42 | Down |
| Telecom | 0.01 | 19.01 | Up |
| Utilities | -0.76 | 8.79 | Down |
Breakouts This Week Still Within 5% of Breakout Price (Limit 20 top C Score)
| Watchlist | Symbol | Company | Industry | C Score* | % Gain |
|---|---|---|---|---|---|
| SQZ | MMYT | MakeMyTrip Limited | Textile Manufacturing | 84.6 % | 2.9 % |
| SQZ | PNTG | The Pennant Group, Inc. | Health Information Services | 83.3 % | 3.9 % |
| SQZ | APP | Applovin Corporation | Utilities - Renewable | 81.3 % | 4.5 % |
| SQZ | META | Meta Platforms, Inc. | Grocery Stores | 79.6 % | 0.1 % |
| SQZ | GCT | GigaCloud Technology Inc | Utilities - Regulated Gas | 79.2 % | 1.4 % |
| SQZ | AXON | Axon Enterprise, Inc. | Drug Manufacturers - General | 78.2 % | 1.1 % |
| DB | KB | KB Financial Group Inc | Household & Personal Products | 75.4 % | 3.2 % |
| SQZ | STRA | Strategic Education, Inc. | Biotechnology | 73.9 % | 0.6 % |
| SQZ | BAH | Booz Allen Hamilton Holding Corporation | Semiconductors | 73.7 % | 1.1 % |
| SQZ | ERIE | Erie Indemnity Company | Beverages - Brewers | 72.5 % | 0.9 % |
| SQZ | IDCC | InterDigital, Inc. | Specialty Chemicals | 72.5 % | 0.2 % |
| SQZ | PGY | Pagaya Technologies Ltd. | Utilities - Regulated Gas | 72.1 % | 1 % |
| SQZ | KTOS | Kratos Defense & Security Solutions, Inc. | Packaged Foods | 71.1 % | 0.7 % |
| SQZ | VIST | Vista Energy S.A.B. de C. | Utilities - Regulated Water | 71 % | 0.2 % |
| SQZ | BLX | Banco Latinoamericano de | Household & Personal Products | 70.7 % | 1.9 % |
| SQZ | MBIN | Merchants Bancorp | Household & Personal Products | 70.7 % | 0.5 % |
| DB | GS | Goldman Sachs Group, Inc. | Beverages - Non-Alcoholic | 70.4 % | 0.7 % |
| SQZ | UBER | Uber Technologies, Inc. | Utilities - Renewable | 70.3 % | 0.9 % |
| SQZ | JXN | Jackson Financial Inc. | Grocery Stores | 69.1 % | 0.5 % |
| SQZ | EHC | Encompass Health Corporation | Health Information Services | 68.3 % | 0.5 % |
| *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 | DUOL | Duolingo, Inc. | Utilities - Renewable | 69.4 % | -4.4 % |
| SS | PEGA | Pegasystems Inc. | Utilities - Renewable | 64.5 % | -1.8 % |
| SS | FHTX | Foghorn Therapeutics Inc. | Biotechnology | 50.6 % | -0.9 % |
| SS | ORN | Orion Group Holdings, Inc. | Biotechnology | 48 % | -3.4 % |
| SS | OLMA | Olema Pharmaceuticals, Inc. | Biotechnology | 27.7 % | -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. | |||||
Cup and Handle Chart of the Week
There were no cup and handle stocks meeting our breakout model criteria this week.