Breakoutwatch Weekly Summary 08/13/2024

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Contents

Market Summary

Markets volatile on growth worries and technical factors

The major indexes closed modestly lower for the week after recovering from the biggest sell-off in nearly two years. The S&P 500 Index neared correction territory (down over 10%) on Monday morning, when it fell as much as 9.71% from its intraday high in mid-January; around the same time, the Nasdaq Composite was down 15.81% from its peak, after entering a correction the previous Friday. Even more pronounced were the swings in the CBOE Volatility Index (VIX), Wall Street’s so-called fear gauge, which briefly spiked Monday to 65.73, its highest level since late March 2020, before falling back to end the week at 20.69. [more...]

Major Index Performance

Dow Jones
Last Close 0
Wk. Gain -100 %
Yr. Gain -100 %
Trend Down
Dow Jones
S&P 500
Last Close 5356.88
Wk. Gain 1.21 %
Yr. Gain 12.9 %
Trend Down
S&P 500
NASDAQ Comp.
Last Close 16807.3
Wk. Gain 1.11 %
Yr. Gain 13 %
Trend Down
NASDAQ Comp.
Russell 2000
Last Close 16807.3
Wk. Gain 13 %
Yr. Gain 734.94 %
Trend Down
Russell 2000

Performance by Sector

Sector Wk. Change % Yr. Change % Trend
Consumer Discretionary -0.73 -1.62 Down
Consumer Staples -0.23 9.21 Up
Energy 1.99 6.38 Down
Finance 0.31 11.38 Down
Health Care 1.06 9.54 Down
Industrials -0.05 8.45 Down
Technology 1.4 12.64 Down
Materials -1.31 2.31 Down
REIT -0.43 2.69 Up
Telecom 0.42 14.9 Down
Utilities 0.26 17.11 Up

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

Watchlist Symbol Company Industry C Score* % Gain
CWH TZOO Travelzoo Advertising Agencies 78.2 % 4.9 %
SQZ BBAR Banco BBVA Argentina S.A. Banks - Regional 70.4 % 2.1 %
SQZ TGS Transportadora de Gas del Sur SA TGS Oil & Gas Integrated 70.4 % 2.8 %
SQZ DECK Deckers Outdoor Corporation Footwear & Accessories 70.3 % 3.1 %
SQZ VZIO VIZIO Holding Corp. Class A Consumer Electronics 69.6 % 0.4 %
SQZ PLNT Planet Fitness, Inc. Leisure 69.2 % 0.5 %
CWH TRUP Trupanion, Inc. Insurance - Specialty 67.7 % 2 %
SQZ SNCR Synchronoss Technologies, Inc. Software - Infrastructure 63.9 % 0.4 %
DB IRS IRSA Inversiones Y Representaciones S.A. Global Depositary Shares (Each representing ten shares of Real Estate Services 63.6 % 0.7 %
SQZ SHIP Seanergy Maritime Holdings Corp. Marine Shipping 62.5 % 0.6 %
SQZ CNTA Centessa Pharmaceuticals plc Biotechnology 61.8 % 2.5 %
SQZ PHAT Phathom Pharmaceuticals, Inc. Biotechnology 61.5 % 2.3 %
SQZ MTZ MasTec, Inc. Engineering & Construction 61.2 % 0 %
SQZ T AT&T Inc. Telecom Services 60.5 % 0.9 %
SQZ LOAR Loar Holdings Inc. Aerospace & Defense 60.2 % 1.4 %
SQZ ENV Envestnet, Inc Software - Application 59 % 0 %
SQZ FULC Fulcrum Therapeutics, Inc. Biotechnology 58.9 % 1.6 %
SQZ ZIM ZIM Integrated Shipping S Marine Shipping 57.3 % 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 FIX Comfort Systems USA, Inc. Engineering & Construction 72.5 % -0.1 %
SS MAX MediaAlpha, Inc. Internet Content & Information 65.4 % -1 %
SS IP International Paper Company Packaging & Containers 65.1 % -1.2 %
SS SWBI Smith & Wesson Brands, Inc. Aerospace & Defense 59.2 % -4.3 %
SS FNKO Funko, Inc. Leisure 57.7 % -0.8 %
SS PYXS Pyxis Oncology, Inc. Biotechnology 57.3 % -2 %
SS VERA Vera Therapeutics, Inc. Biotechnology 54.5 % -1.5 %
SS MYO Myomo Inc. Medical Devices 52.4 % -3.3 %
SS TNGX Tango Therapeutics, Inc. Biotechnology 38.3 % -3.7 %
SS OLMA Olema Pharmaceuticals, Inc. Biotechnology 31.6 % -4.9 %
*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*
PRAX 59.81 Praxis Precision Medicines, Inc. Biotechnology 99.00 86.64 62.5
VIRC 18.05 Virco Manufacturing Corporation Furnishings, Fixtures & Appliances 96.00 82.6 74.9
SIGA 10.70 SIGA Technologies Inc. Drug Manufacturers - Specialty & Generic 94.00 85.79 80.4
REVG 29.89 REV Group, Inc. Farm & Heavy Construction Machinery 93.00 94.61 74.3
NVEI 33.26 Nuvei Corporation Software - Infrastructure 91.00 99.49 63.6
TEVA 18.03 Teva Pharmaceutical Indus Drug Manufacturers - Specialty & Generic 91.00 94.73 59.3
DNTH 31.61 Dianthus Therapeutics, Inc. Biotechnology 91.00 83.74 66.4
FFNW 22.48 First Financial Northwest, Inc. Banks - Regional 90.00 96.8 60.6
FLXS 38.95 Flexsteel Industries, Inc. Furnishings, Fixtures & Appliances 89.00 88.4 76.2
SA 16.98 Seabridge Gold, Inc. Gold 89.00 97.29 58.3
PRIM 57.72 Primoris Services Corporation Engineering & Construction 89.00 90.63 68.7
OSPN 15.99 OneSpan Inc. Software - Infrastructure 89.00 92.37 68.1
MDGL 298.00 Madrigal Pharmaceuticals, Inc. Biotechnology 89.00 81.24 47.8
TILE 17.86 Interface, Inc. Building Products & Equipment 88.00 91.32 70.6
CYBR 284.10 CyberArk Software Ltd. Software - Infrastructure 88.00 95.35 72.4
LFVN 8.75 Lifevantage Corporation Packaged Foods 88.00 89.83 62.8
ARIS 17.91 Aris Water Solutions, Inc. Utilities - Regulated Water 87.00 83.81 70.6
VCYT 30.86 Veracyte, Inc. Diagnostics & Research 87.00 96.95 68.3
PHG 29.53 Koninklijke Philips N.V. Medical Devices 86.00 96 56.4
RYTM 53.92 Rhythm Pharmaceuticals, Inc. Biotechnology 86.00 82.49 64
QNST 20.50 QuinStreet, Inc. Advertising Agencies 85.00 83.46 54.7
COLL 39.58 Collegium Pharmaceutical, Inc. Drug Manufacturers - Specialty & Generic 85.00 89.99 68.8
IOT 39.21 Samsara Inc. Software - Infrastructure 84.00 97.37 67.9
DASH 126.37 DoorDash, Inc. Internet Content & Information 84.00 98.16 60.6
SPR 37.08 Spirit Aerosystems Holdings, Inc. Aerospace & Defense 84.00 91.29 60.5
GE 177.20 GE Aerospace Aerospace & Defense 83.00 94.17 69.9
KTB 73.31 Kontoor Brands, Inc. Apparel Manufacturing 82.00 95.27 65.7
PRG 46.40 PROG Holdings, Inc. Rental & Leasing Services 82.00 86.9 60.5
GSHD 92.50 Goosehead Insurance, Inc. Insurance - Diversified 82.00 88.36 74.5
EOLS 14.41 Evolus, Inc. Drug Manufacturers - Specialty & Generic 81.00 90.56 68.2
TSEM 44.18 Tower Semiconductor Ltd. Semiconductors 81.00 86.17 61.1
FTNT 71.82 Fortinet, Inc. Software - Infrastructure 81.00 97.97 63.5
EZPW 11.66 EZCORP, Inc. Credit Services 81.00 98.46 63.1
SKY 86.81 Skyline Champion Corporation Residential Construction 80.00 96.88 72.2
BWXT 106.42 BWX Technologies, Inc. Aerospace & Defense 80.00 91.37 71.2
SAFE 23.76 Safehold Inc. REIT - Diversified 80.00 96.17 62.3
ASTL 10.00 Algoma Steel Group Inc. Steel 80.00 89 66
*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.