Breakoutwatch Weekly Summary 08/06/2024

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Contents

Market Summary

Downside economic surprises send shares sharply lower

The major benchmarks closed lower, as investors reacted to the busiest week of the quarterly earnings reporting season and arguably the most important week of monthly economic data. The recent rotation toward value stocks and small-caps stalled, at least in part, as the small-cap Russell 2000 Index pulled back sharply at the end of the week. Notably, however, an equal-weighted version of the large-cap S&P 500 Index held up better than its more familiar, market-weighted counterpart, suggesting that the market’s performance continued to broaden away from the so-called Magnificent Seven and other technology-oriented market giants. Relatedly, the Nasdaq Composite pulled back over 10% from its July high, putting it in a technical correction. [more...]

Major Index Performance

Dow Jones
Last Close
Wk. Gain -100 %
Yr. Gain -100 %
Trend Down
Dow Jones
S&P 500
Last Close
Wk. Gain -100 %
Yr. Gain -100 %
Trend Down
S&P 500
NASDAQ Comp.
Last Close
Wk. Gain -100 %
Yr. Gain -100 %
Trend Down
NASDAQ Comp.
Russell 2000
Last Close
Wk. Gain -100 %
Yr. Gain -100 %
Trend Down
Russell 2000

Performance by Sector

Sector Wk. Change % Yr. Change % Trend
Consumer Discretionary -7.71 -1.79 Down
Consumer Staples 0.73 9.84 Up
Energy -6.9 3.14 Down
Finance -6.09 9.82 Down
Health Care -1.57 8.85 Up
Industrials -4.8 7.87 Down
Technology -7.76 9.41 Down
Materials -5.08 2.93 Down
REIT -1.42 2.4 Up
Telecom -5.1 13.19 Down
Utilities -0.09 16.13 Up

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

Watchlist Symbol Company Industry C Score* % Gain
CWH WLDN Willdan Group, Inc. Engineering & Construction 71.6 % 4.7 %
SQZ ITCI Intra-Cellular Therapies Inc. Drug Manufacturers - Specialty & Generic 67.2 % 1 %
SQZ PRMW Primo Water Corporation Beverages - Non-Alcoholic 65.5 % 0 %
CWH OSPN OneSpan Inc. Software - Infrastructure 63.2 % 0.1 %
SQZ MOR MorphoSys AG Biotechnology 54.6 % 2.4 %
*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 FIX Comfort Systems USA, Inc. Engineering & Construction 72.8 % -3.1 %
SS SEMR SEMrush Holdings, Inc. Software - Application 70.5 % -1.9 %
SS GE GE Aerospace Aerospace & Defense 67.6 % -0.1 %
SS IP International Paper Company Packaging & Containers 63.1 % -0.4 %
SS SWBI Smith & Wesson Brands, Inc. Aerospace & Defense 59.9 % -3.7 %
SS CRM Salesforce, Inc. Software - Application 58.4 % -4.7 %
SS TLS Telos Corporation Software - Infrastructure 55.8 % -4.5 %
SS VERA Vera Therapeutics, Inc. Biotechnology 54.1 % -1.9 %
SS EMKR EMCORE Corporation Semiconductors 52.1 % -4 %
SS NATR Nature's Sunshine Products, Inc. Packaged Foods 51.1 % -3.9 %
SS GIC Global Industrial Company Industrial Distribution 48.8 % -3.1 %
*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 Stocks Likely to Breakout next Week

Symbol BoP Company Industry Relative Strength Rank Within x% of BoP C Score*
SEZL 98.32 Sezzle Inc. Credit Services 99.00 75.01 61.3
PRAX 59.81 Praxis Precision Medicines, Inc. Biotechnology 99.00 89.48 63
GSUN 8.45 Golden Sun Health Technology Group Limited Education & Training Services 99.00 88.99 50.9
SNDA 33.25 Sonida Senior Living, Inc. Medical Care Facilities 98.00 85.47 56.8
SLNO 52.27 Soleno Therapeutics, Inc. Biotechnology 98.00 86.65 58.5
HUMA 9.79 Humacyte, Inc. Biotechnology 98.00 80.39 59.7
VIRC 18.05 Virco Manufacturing Corporation Furnishings, Fixtures & Appliances 97.00 79.78 72.4
AGIO 50.35 Agios Pharmaceuticals, Inc. Biotechnology 95.00 84.59 56.5
DNTH 31.61 Dianthus Therapeutics, Inc. Biotechnology 95.00 89.72 64.7
REVG 29.89 REV Group, Inc. Farm & Heavy Construction Machinery 94.00 88.86 70.9
QNST 20.50 QuinStreet, Inc. Advertising Agencies 93.00 85.61 53.3
TILE 17.86 Interface, Inc. Building Products & Equipment 93.00 93.9 70.9
SIGA 10.70 SIGA Technologies Inc. Drug Manufacturers - Specialty & Generic 93.00 76.92 76.9
TEVA 18.03 Teva Pharmaceutical Indus Drug Manufacturers - Specialty & Generic 93.00 92.51 59.7
FLXS 38.95 Flexsteel Industries, Inc. Furnishings, Fixtures & Appliances 92.00 86.52 73.2
FFNW 22.48 First Financial Northwest, Inc. Banks - Regional 92.00 94.62 58.2
SNCR 11.21 Synchronoss Technologies, Inc. Software - Infrastructure 91.00 90.81 59.2
NVEI 33.22 Nuvei Corporation Software - Infrastructure 91.00 99.04 64
TGI 17.87 Triumph Group, Inc. Aerospace & Defense 90.00 84.05 69.1
RYTM 53.92 Rhythm Pharmaceuticals, Inc. Biotechnology 90.00 81.66 65.6
CASY 401.07 Caseys General Stores, Inc. Specialty Retail 89.00 92.72 68.4
PHIN 47.51 PHINIA Inc. Auto Parts 89.00 86.21 55.9
ITOS 18.10 iTeos Therapeutics, Inc. Biotechnology 89.00 87.13 48.2
MDGL 298.00 Madrigal Pharmaceuticals, Inc. Biotechnology 89.00 87.06 51.3
CELC 19.77 Celcuity Inc. Biotechnology 88.00 82.3 46.4
PHG 29.53 Koninklijke Philips N.V. Medical Devices 87.00 94.92 53.1
COLL 39.58 Collegium Pharmaceutical, Inc. Drug Manufacturers - Specialty & Generic 87.00 87.22 65
KTB 73.31 Kontoor Brands, Inc. Apparel Manufacturing 87.00 93.9 63.4
SPR 37.08 Spirit Aerosystems Holdings, Inc. Aerospace & Defense 87.00 90.48 62.9
EOLS 14.41 Evolus, Inc. Drug Manufacturers - Specialty & Generic 87.00 92.37 66
SA 16.98 Seabridge Gold, Inc. Gold 86.00 89.81 54
AXON 326.32 Axon Enterprise, Inc. Aerospace & Defense 86.00 87.69 76.9
GE 177.20 GE Aerospace Aerospace & Defense 86.00 89.37 67.6
AAON 94.67 AAON, Inc. Building Products & Equipment 85.00 90.28 70.1
IOT 39.21 Samsara Inc. Software - Infrastructure 85.00 90.69 64.5
CYBR 284.10 CyberArk Software Ltd. Software - Infrastructure 85.00 85.01 72.2
DNOW 15.65 DNOW Inc. Industrial Distribution 85.00 87.6 61.3
KNF 83.00 Knife Riv Holding Co. Building Materials 84.00 85.25 64.9
TOST 27.88 Toast, Inc. Software - Infrastructure 84.00 85.8 61.9
EXR 171.46 Extra Space Storage Inc REIT - Industrial 84.00 92.58 63.5
LNW 109.30 Light & Wonder, Inc. Gambling 83.00 89.21 68
TRUP 38.14 Trupanion, Inc. Insurance - Specialty 83.00 93.45 64.9
CVEO 27.50 Civeo Corporation (Canada) Specialty Business Services 83.00 97.27 72.4
EXP 279.69 Eagle Materials Inc Building Materials 83.00 87.15 64.8
MBC 18.64 MasterBrand, Inc. Furnishings, Fixtures & Appliances 82.00 84.76 58.2
TSEM 44.18 Tower Semiconductor Ltd. Semiconductors 82.00 82.05 58.4
PRG 46.40 PROG Holdings, Inc. Rental & Leasing Services 82.00 87.95 57.8
KMPR 65.93 Kemper Corporation Insurance - Property & Casualty 82.00 93.6 59.4
CRH 86.43 CRH PLC Ordinary Shares Building Materials 81.00 89.26 51.6
VCEL 54.09 Vericel Corporation Biotechnology 81.00 84.78 65.7
BILI 18.19 Bilibili Inc. Electronic Gaming & Multimedia 81.00 87.91 57.1
KRT 30.66 Karat Packaging Inc. Packaging & Containers 81.00 89.14 58.4
LFVN 8.75 Lifevantage Corporation Packaged Foods 81.00 84.17 60.5
AHCO 11.90 AdaptHealth Corp. Medical Devices 80.00 92.18 52.6
AXGN 9.62 Axogen, Inc. Medical Devices 80.00 81.03 60.4
BCRX 7.93 BioCryst Pharmaceuticals, Inc. Biotechnology 80.00 94.7 68.5
KAI 363.40 Kadant Inc Specialty Industrial Machinery 80.00 83.11 58.8
B 45.24 Barnes Group, Inc. Specialty Industrial Machinery 80.00 81.87 53.9
*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.