Breakoutwatch Weekly Summary 08/20/2024

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Contents

Market Summary

Stocks continue recovery from August 5 sell-off

Stocks recorded a solid week of gains, as investors appeared to celebrate positive news on both the inflation and growth fronts, which together bolstered hopes that the economy might achieve a “soft landing.” The technology-heavy Nasdaq Composite led the gains and ended the week up 12.24% off its intraday lows amid the sell-off on August 5. Artificial intelligence chip giant NVIDIA was especially strong, gaining 18.93% over the week. Relatedly, growth stocks handily outpaced value shares, according to various Russell indexes. [more...]

Major Index Performance

Dow Jones
Last Close 40750.7
Wk. Gain 2.39 %
Yr. Gain 8.48 %
Trend Up
Dow Jones
S&P 500
Last Close 5559.68
Wk. Gain 2.16 %
Yr. Gain 17.17 %
Trend Up
S&P 500
NASDAQ Comp.
Last Close 17651.2
Wk. Gain 2.46 %
Yr. Gain 18.67 %
Trend Up
NASDAQ Comp.
Russell 2000
Last Close 17651.2
Wk. Gain 733.39 %
Yr. Gain 776.86 %
Trend Down
Russell 2000

Performance by Sector

Sector Wk. Change % Yr. Change % Trend
Consumer Discretionary 3.78 4.78 Up
Consumer Staples 2.24 12.28 Up
Energy 2.16 7.9 Up
Finance 3.45 16.51 Up
Health Care 1.91 13 Up
Industrials 2.39 12.34 Up
Technology 4.24 21.48 Up
Materials 2.01 5.74 Up
REIT 0.79 4.59 Up
Telecom 2.36 19.09 Up
Utilities 1.24 19 Up

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

Watchlist Symbol Company Industry C Score* % Gain
SQZ FSLR First Solar, Inc. Solar 75.1 % 1.3 %
CWH VCYT Veracyte, Inc. Diagnostics & Research 72.7 % 4.8 %
SQZ EME EMCOR Group, Inc. Engineering & Construction 72.2 % 0.9 %
SQZ DECK Deckers Outdoor Corporation Footwear & Accessories 71.8 % 4.9 %
SQZ XPO XPO, Inc. Trucking 71.6 % 2.8 %
SQZ FIX Comfort Systems USA, Inc. Engineering & Construction 71.5 % 1 %
SQZ AAON AAON, Inc. Building Products & Equipment 70.3 % 3.4 %
SQZ DY Dycom Industries, Inc. Engineering & Construction 70 % 4.5 %
SQZ NXRT NexPoint Residential Trust, Inc. REIT - Residential 69 % 0.2 %
CWH IOT Samsara Inc. Software - Infrastructure 66.4 % 2.9 %
CWH UPST Upstart Holdings, Inc. Credit Services 63.7 % 4 %
SQZ PRMW Primo Water Corporation Beverages - Non-Alcoholic 63.1 % 0.1 %
CWH FTNT Fortinet, Inc. Software - Infrastructure 62.7 % 4.1 %
CWH BDC Belden Inc Communication Equipment 62.5 % 2.3 %
SQZ ADSE AD Electrical Equipment & Parts 61.8 % 0.5 %
SQZ EXR Extra Space Storage Inc REIT - Industrial 61.1 % 3.1 %
SQZ MTZ MasTec, Inc. Engineering & Construction 60.6 % 4.1 %
SQZ HMST HomeStreet, Inc. Banks - Regional 59.6 % 4.2 %
SQZ FULC Fulcrum Therapeutics, Inc. Biotechnology 58.6 % 3.5 %
SQZ SLNO Soleno Therapeutics, Inc. Biotechnology 56.9 % 4.7 %
*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.

Breakdowns within 5% of Breakdown Price

Watchlist Symbol Company Industry C Score* % Loss
SS KEX Kirby Corporation Marine Shipping 70.1 % -0.2 %
SS KAI Kadant Inc Specialty Industrial Machinery 61.8 % -0.4 %
SS SEMR SEMrush Holdings, Inc. Software - Application 59.4 % -0.7 %
*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 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 86.67 59.7
SUPV 7.56 Grupo Supervielle S.A. Am Banks - Regional 96.00 97.35 74
GGAL 36.63 Grupo Financiero Galicia S.A. Banks - Regional 95.00 94.57 60.2
TAYD 54.00 Taylor Devices, Inc. Specialty Industrial Machinery 93.00 91.7 55
DNTH 31.61 Dianthus Therapeutics, Inc. Biotechnology 92.00 90.67 64.6
ADSE 13.39 AD Electrical Equipment & Parts 91.00 96.71 61.8
ARIS 17.91 Aris Water Solutions, Inc. Utilities - Regulated Water 91.00 93.3 69.8
PRG 46.40 PROG Holdings, Inc. Rental & Leasing Services 90.00 99.4 61
NVEI 33.26 Nuvei Corporation Software - Infrastructure 90.00 99.85 59.5
TGLS 61.04 Tecnoglass Inc. Building Materials 89.00 96.2 68.1
FFNW 22.48 First Financial Northwest, Inc. Banks - Regional 89.00 98.62 60.1
TILE 17.86 Interface, Inc. Building Products & Equipment 89.00 96.75 70.4
PRIM 57.72 Primoris Services Corporation Engineering & Construction 89.00 94.09 62
OSPN 15.99 OneSpan Inc. Software - Infrastructure 89.00 98.37 66.8
LFVN 8.75 Lifevantage Corporation Packaged Foods 89.00 96.23 64.7
INNV 6.61 InnovAge Holding Corp. Medical Care Facilities 88.00 94.4 63.9
RYTM 53.92 Rhythm Pharmaceuticals, Inc. Biotechnology 88.00 87.35 60.7
EML 31.00 Eastern Company (The) Tools & Accessories 87.00 97.68 66.8
SPR 37.08 Spirit Aerosystems Holdings, Inc. Aerospace & Defense 86.00 94.74 57.6
ONON 43.20 On Holding AG Class A Ord Footwear & Accessories 86.00 98.26 69.7
ARGX 540.49 argenx SE Biotechnology 84.00 96.98 60.1
QNST 20.50 QuinStreet, Inc. Advertising Agencies 84.00 84.88 53.8
MDGL 298.00 Madrigal Pharmaceuticals, Inc. Biotechnology 83.00 86.15 57.1
ITOS 18.10 iTeos Therapeutics, Inc. Biotechnology 83.00 87.79 55.9
IOT 41.32 Samsara Inc. Software - Infrastructure 83.00 97.63 66.4
COLL 39.58 Collegium Pharmaceutical, Inc. Drug Manufacturers - Specialty & Generic 83.00 91.18 67
RM 33.87 Regional Management Corp. Credit Services 82.00 96.58 69
SMBC 58.03 Southern Missouri Bancorp, Inc. Banks - Regional 82.00 94.33 70.6
TSEM 44.18 Tower Semiconductor Ltd. Semiconductors 82.00 91.35 58.4
PHG 29.53 Koninklijke Philips N.V. Medical Devices 82.00 99.32 51.9
LNW 109.30 Light & Wonder, Inc. Gambling 82.00 98.03 65.5
GFI 17.66 Gold Fields Limited Ameri Gold 82.00 97.11 60.2
GE 177.20 GE Aerospace Aerospace & Defense 82.00 96.46 65.2
BHRB 70.00 Burke & Herbert Financial Services Corp. Banks - Regional 82.00 90.43 60
MRCY 42.72 Mercury Systems Inc Aerospace & Defense 81.00 93.61 54.9
GFR 8.03 Greenfire Resources Ltd. Oil & Gas Exploration & Production 81.00 89.29 55.8
ASTL 10.19 Algoma Steel Group Inc. Steel 81.00 94.8 60.3
PH 593.28 Parke Specialty Industrial Machinery 80.00 98.86 62.9
ITGR 130.16 Integer Holdings Corporation Medical Devices 80.00 94.14 58.7
GSHD 92.50 Goosehead Insurance, Inc. Insurance - Diversified 80.00 90.71 73.6
CRH 86.43 CRH PLC Ordinary Shares Building Materials 80.00 98.32 51
*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.