Breakoutwatch Weekly Summary 07/08/2024
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Contents
Market Summary
Exceptionally narrow advance continues on falling interest rates
The S&P 500 Index continued to climb to record highs, although the market’s gains remained notably narrow. As measured by Russell 1000 indexes, growth shares outperformed value stocks by 415 basis points (4.15 percentage points), while the small- and mid-cap benchmarks recorded losses. [more...]
Major Index Performance
| Dow Jones | |
|---|---|
| Last Close | 0 |
| Wk. Gain | -100 % |
| Yr. Gain | -100 % |
| Trend | Up |
|
|
| S&P 500 | |
|---|---|
| Last Close | 0 |
| Wk. Gain | -100 % |
| Yr. Gain | -100 % |
| Trend | Up |
|
|
| NASDAQ Comp. | |
|---|---|
| Last Close | 0 |
| Wk. Gain | -100 % |
| Yr. Gain | -100 % |
| Trend | Up |
|
|
| Russell 2000 | |
|---|---|
| Last Close | 2027 |
| Wk. Gain | -1.17 % |
| Yr. Gain | 0.7 % |
| Trend | Up |
|
|
Performance by Sector
| Sector | Wk. Change % | Yr. Change % | Trend |
|---|---|---|---|
| Consumer Discretionary | 2.14 | 5.58 | Up |
| Consumer Staples | 0.27 | 7.48 | Down |
| Energy | -1.77 | 6.94 | Up |
| Finance | 0.35 | 9.6 | Up |
| Health Care | -1.08 | 5.69 | Down |
| Industrials | -0.89 | 6.84 | Down |
| Technology | 3.09 | 24.67 | Up |
| Materials | -0.59 | 1.68 | Down |
| REIT | -0.22 | -5.15 | Down |
| Telecom | 2.69 | 21.48 | Up |
| Utilities | -0.3 | 8.8 | Down |
Breakouts This Week Still Within 5% of Breakout Price (Limit 20 top C Score)
| Watchlist | Symbol | Company | Industry | C Score* | % Gain |
|---|---|---|---|---|---|
| CWH | PLTR | Palantir Technologies Inc. | Utilities - Regulated Gas | 84.1 % | 2.5 % |
| SQZ | PNTG | The Pennant Group, Inc. | Health Information Services | 82.7 % | 1.5 % |
| SQZ | GCT | GigaCloud Technology Inc | Utilities - Regulated Gas | 79.9 % | 2.4 % |
| SQZ | AXON | Axon Enterprise, Inc. | Drug Manufacturers - General | 78.2 % | 1.8 % |
| CWH | AMZN | Amazon.com, Inc. | Personal Services | 78.1 % | 0.1 % |
| CWH | IBN | ICICI Bank Limited | Household & Personal Products | 77.3 % | 0.2 % |
| SQZ | STRA | Strategic Education, Inc. | Biotechnology | 73.5 % | 0.5 % |
| SQZ | IDCC | InterDigital, Inc. | Specialty Chemicals | 73.3 % | 1.7 % |
| SQZ | BPMC | Blueprint Medicines Corporation | Biotechnology | 72.5 % | 2.4 % |
| SQZ | ERIE | Erie Indemnity Company | Beverages - Brewers | 72.1 % | 0.5 % |
| CWH | SAP | SAP SE ADS | Utilities - Renewable | 71.9 % | 0.8 % |
| SQZ | KTOS | Kratos Defense & Security Solutions, Inc. | Packaged Foods | 71.5 % | 1.4 % |
| SQZ | VIST | Vista Energy S.A.B. de C. | Utilities - Regulated Water | 71 % | 0.5 % |
| DB | GS | Goldman Sachs Group, Inc. | Beverages - Non-Alcoholic | 70.1 % | 0 % |
| SQZ | UBER | Uber Technologies, Inc. | Utilities - Renewable | 69.9 % | 0.5 % |
| SQZ | TPB | Turning Point Brands, Inc. | Insurance - Diversified | 68.6 % | 1.9 % |
| SQZ | MOD | Modine Manufacturing Company | Specialty Retail | 68.5 % | 4.1 % |
| SQZ | SPNS | Sapiens International Corporation N.V. | Utilities - Renewable | 67.8 % | 2.3 % |
| SQZ | BGC | BGC Group, Inc. | Beverages - Non-Alcoholic | 67.5 % | 2.6 % |
| DB | PTC | PTC Inc. | Utilities - Renewable | 67.4 % | 0.3 % |
| *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. | |||||
Breakdowns within 5% of Breakdown Price
| Watchlist | Symbol | Company | Industry | C Score* | % Loss |
|---|---|---|---|---|---|
| SS | VRT | Vertiv Holdings, LLC Class A | Utilities - Regulated Gas | 68.2 % | -1.6 % |
| SS | FCNCA | First Citizens BancShares, Inc. | Household & Personal Products | 65.2 % | -0.1 % |
| SS | PEGA | Pegasystems Inc. | Utilities - Renewable | 63.9 % | -1.8 % |
| SS | AXTI | AXT Inc | Advertising Agencies | 59 % | -4.4 % |
| SS | TLS | Telos Corporation | Utilities - Regulated Gas | 54 % | -2.9 % |
| SS | ORN | Orion Group Holdings, Inc. | Biotechnology | 48.2 % | -2.9 % |
| SS | FUBO | fuboTV Inc. | Steel | 42.9 % | -3.1 % |
| SS | OLMA | Olema Pharmaceuticals, Inc. | Biotechnology | 28.5 % | -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. | |||||
Cup and Handle Chart of the Week
There were no cup and handle stocks meeting our breakout model criteria this week.