Breakoutwatch Weekly Summary 08/14/2024

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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 39450.1
Wk. Gain INF %
Yr. Gain 5.02 %
Trend Down
Dow Jones
S&P 500
Last Close 5383.43
Wk. Gain INF %
Yr. Gain 13.45 %
Trend Down
S&P 500
NASDAQ Comp.
Last Close 16956.8
Wk. Gain INF %
Yr. Gain 14 %
Trend Down
NASDAQ Comp.
Russell 2000
Last Close 16956.8
Wk. Gain 14 %
Yr. Gain 742.36 %
Trend Down
Russell 2000

Performance by Sector

Sector Wk. Change % Yr. Change % Trend
Consumer Discretionary 3.4 0.69 Down
Consumer Staples 1 9.84 Up
Energy 1.56 5.39 Down
Finance 1.8 12.47 Down
Health Care 2.02 10.85 Down
Industrials 1.95 9.63 Down
Technology 5.72 15.9 Down
Materials 1.36 3.41 Down
REIT 1.57 3.59 Up
Telecom 2.89 16.6 Up
Utilities 1.29 17.7 Up

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

Watchlist Symbol Company Industry C Score* % Gain
SQZ DVA DaVita Inc. Medical Care Facilities 71.4 % 1.5 %
SQZ FIX Comfort Systems USA, Inc. Engineering & Construction 71.2 % 2.5 %
SQZ AAON AAON, Inc. Building Products & Equipment 70.9 % 0.2 %
SQZ BBAR Banco BBVA Argentina S.A. Banks - Regional 70.7 % 3.7 %
SQZ TGS Transportadora de Gas del Sur SA TGS Oil & Gas Integrated 70.2 % 0.9 %
SQZ DECK Deckers Outdoor Corporation Footwear & Accessories 69.5 % 2.8 %
SQZ PLNT Planet Fitness, Inc. Leisure 69.5 % 2.1 %
SQZ VZIO VIZIO Holding Corp. Class A Consumer Electronics 68.7 % 0.3 %
CWH IOT Samsara Inc. Software - Infrastructure 68.2 % 1.6 %
CWH TGLS Tecnoglass Inc. Building Materials 66 % 3.2 %
SQZ RXST RxSight, Inc. Medical Devices 65.4 % 2.6 %
SQZ EXR Extra Space Storage Inc REIT - Industrial 64 % 1.1 %
SQZ SNCR Synchronoss Technologies, Inc. Software - Infrastructure 63.6 % 2 %
DB IRS IRSA Inversiones Y Representaciones S.A. Global Depositary Shares (Each representing ten shares of Real Estate Services 63.3 % 2.9 %
SQZ SHIP Seanergy Maritime Holdings Corp. Marine Shipping 62.5 % 4.2 %
SQZ PHAT Phathom Pharmaceuticals, Inc. Biotechnology 60.8 % 3.5 %
SQZ MTZ MasTec, Inc. Engineering & Construction 60.6 % 2.1 %
CWH DASH DoorDash, Inc. Internet Content & Information 60.1 % 1.2 %
SQZ HMST HomeStreet, Inc. Banks - Regional 59.9 % 0.6 %
SQZ T AT&T Inc. Telecom Services 59.2 % 1.3 %
*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 MYO Myomo Inc. Medical Devices 51.8 % -4 %
SS OLMA Olema Pharmaceuticals, Inc. Biotechnology 30.5 % -2.3 %
*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.

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 87.34 62.7
GSUN 8.94 Golden Sun Health Technology Group Limited Education & Training Services 99.00 86.35 54.5
VIRC 18.05 Virco Manufacturing Corporation Furnishings, Fixtures & Appliances 97.00 88.98 76.1
SIGA 10.70 SIGA Technologies Inc. Drug Manufacturers - Specialty & Generic 94.00 88.13 80.3
REVG 29.89 REV Group, Inc. Farm & Heavy Construction Machinery 93.00 94.08 74.3
LFVN 8.75 Lifevantage Corporation Packaged Foods 91.00 92.34 64.8
OSPN 15.99 OneSpan Inc. Software - Infrastructure 91.00 96.81 68
NVEI 33.26 Nuvei Corporation Software - Infrastructure 91.00 99.79 63.2
FFNW 22.48 First Financial Northwest, Inc. Banks - Regional 90.00 96.4 60.2
FLXS 38.95 Flexsteel Industries, Inc. Furnishings, Fixtures & Appliances 90.00 92.68 75.9
TILE 17.86 Interface, Inc. Building Products & Equipment 90.00 95.58 71.2
TEVA 18.03 Teva Pharmaceutical Indus Drug Manufacturers - Specialty & Generic 90.00 95.01 58.3
BCRX 8.09 BioCryst Pharmaceuticals, Inc. Biotechnology 90.00 97.53 73.5
DNTH 31.61 Dianthus Therapeutics, Inc. Biotechnology 89.00 83.74 64.9
ARIS 17.91 Aris Water Solutions, Inc. Utilities - Regulated Water 89.00 86.32 71
UPST 38.50 Upstart Holdings, Inc. Credit Services 89.00 98.26 62.4
SA 16.98 Seabridge Gold, Inc. Gold 89.00 98.17 57.4
PRIM 57.72 Primoris Services Corporation Engineering & Construction 89.00 91.82 67.5
FNKO 10.36 Funko, Inc. Leisure 89.00 92.28 57.5
CYBR 284.10 CyberArk Software Ltd. Software - Infrastructure 87.00 95.59 68.9
RYTM 53.92 Rhythm Pharmaceuticals, Inc. Biotechnology 87.00 85.26 63
MDGL 298.00 Madrigal Pharmaceuticals, Inc. Biotechnology 87.00 81.76 46.2
GSL 27.30 Global Ship Lease Inc Rental & Leasing Services 86.00 99.12 67.7
ARGX 540.49 argenx SE Biotechnology 86.00 98.25 61.1
INNV 6.61 InnovAge Holding Corp. Medical Care Facilities 86.00 91.98 63.6
COLL 39.58 Collegium Pharmaceutical, Inc. Drug Manufacturers - Specialty & Generic 85.00 92.75 67.6
CELC 19.77 Celcuity Inc. Biotechnology 85.00 85.08 48.2
PHG 29.53 Koninklijke Philips N.V. Medical Devices 85.00 96.55 55.4
SPR 37.08 Spirit Aerosystems Holdings, Inc. Aerospace & Defense 84.00 92.23 59.3
QNST 20.50 QuinStreet, Inc. Advertising Agencies 84.00 81.95 53.3
GSHD 92.50 Goosehead Insurance, Inc. Insurance - Diversified 83.00 91.01 74.5
KTB 73.31 Kontoor Brands, Inc. Apparel Manufacturing 83.00 96.49 65.4
EOLS 14.41 Evolus, Inc. Drug Manufacturers - Specialty & Generic 83.00 93.96 67.3
GE 177.20 GE Aerospace Aerospace & Defense 83.00 94.79 68.7
ITOS 18.10 iTeos Therapeutics, Inc. Biotechnology 83.00 85.14 47.9
RM 33.87 Regional Management Corp. Credit Services 82.00 94.1 69.6
PRG 46.40 PROG Holdings, Inc. Rental & Leasing Services 82.00 88.49 59.7
SAFE 23.76 Safehold Inc. REIT - Diversified 82.00 98.19 62.7
SKY 86.81 Skyline Champion Corporation Residential Construction 82.00 99.26 70.6
SMBC 58.03 Southern Missouri Bancorp, Inc. Banks - Regional 82.00 90.28 70.8
BHRB 70.00 Burke & Herbert Financial Services Corp. Banks - Regional 82.00 87.4 60.3
TSEM 44.18 Tower Semiconductor Ltd. Semiconductors 82.00 87.62 60.3
GDYN 14.66 Grid Dynamics Holdings, Inc. Information Technology Services 81.00 91.2 57.5
FTNT 71.82 Fortinet, Inc. Software - Infrastructure 81.00 99.55 62.5
ASTL 10.00 Algoma Steel Group Inc. Steel 81.00 90.7 66.4
CRH 86.43 CRH PLC Ordinary Shares Building Materials 80.00 96.55 53.9
FMAO 28.75 Farmers & Merchants Bancorp, Inc. Banks - Regional 80.00 85.84 65.8
LNW 109.30 Light & Wonder, Inc. Gambling 80.00 93.9 69.1
*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 Chart of the Week

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