Breakoutwatch Weekly Summary 08/23/2024

You are receiving this email because you are or were a BreakoutWatch.com subscriber, or have subscribed to our weekly newsletter.
To read this newsletter on the site, click here: Newsletter .

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
Wk. Gain -100 %
Yr. Gain -100 %
Trend Up
Dow Jones
S&P 500
Last Close
Wk. Gain -100 %
Yr. Gain -100 %
Trend Up
S&P 500
NASDAQ Comp.
Last Close
Wk. Gain -100 %
Yr. Gain -100 %
Trend Up
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 0.26 4.2 Up
Consumer Staples 1.13 13.3 Up
Energy -1.85 5.35 Down
Finance 0.46 16.33 Up
Health Care 1.28 13.57 Up
Industrials 0.75 12.45 Up
Technology -0.37 19.22 Up
Materials 0.82 6.23 Up
REIT 1.54 5.33 Up
Telecom 0.51 18.58 Up
Utilities 0.9 19.39 Up

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

Watchlist Symbol Company Industry C Score* % Gain
SQZ EME EMCOR Group, Inc. Engineering & Construction 73.8 % 1.5 %
SQZ HGTY Hagerty, Inc. Insurance - Property & Casualty 72.5 % 1.7 %
SQZ BCRX BioCryst Pharmaceuticals, Inc. Biotechnology 72.3 % 1.3 %
SQZ STRL Sterling Infrastructure, Inc. Engineering & Construction 67.9 % 2.1 %
CWH BDC Belden Inc Communication Equipment 65.6 % 1.5 %
CWH DKS Dick's Sporting Goods Inc Specialty Retail 64.4 % 2.3 %
CWH UPST Upstart Holdings, Inc. Credit Services 63.8 % 2 %
SQZ SDA SunCar Technology Group Inc. Auto & Truck Dealerships 63.1 % 1.2 %
SQZ USM United States Cellular Corporation Telecom Services 63.1 % 1.6 %
SQZ T AT&T Inc. Telecom Services 59.7 % 0.1 %
SQZ ZYME Zymeworks Inc. Biotechnology 58.6 % 2.6 %
SQZ IFF International Flavors & Fragrances, Inc. Specialty Chemicals 56.9 % 2.5 %
CWH PHG Koninklijke Philips N.V. Medical Devices 56.5 % 1.1 %
SQZ SOHU Sohu.com Limited Electronic Gaming & Multimedia 55.5 % 0.1 %
*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.

Breakdowns within 5% of Breakdown Price

Watchlist Symbol Company Industry C Score* % Loss
SS ONTO Onto Innovation Inc. Semiconductor Equipment & Materials 73.8 % -0.4 %
SS OWL Blue Owl Capital Inc. Asset Management 72.4 % -2.8 %
SS KEX Kirby Corporation Marine Shipping 69.9 % -2.1 %
SS MTSI MACOM Technology Solutions Holdings, Inc. Semiconductors 68.7 % -1.2 %
SS TPC Tutor Perini Corporation Engineering & Construction 68 % -2.8 %
SS KLAC KLA Corporation Semiconductor Equipment & Materials 65.6 % -0.9 %
SS SEMR SEMrush Holdings, Inc. Software - Application 62.2 % -3 %
SS AMD Advanced Micro Devices, Inc. Semiconductors 57.5 % -1.9 %
SS DKNG DraftKings Inc. Gambling 56.1 % -3.4 %
*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.

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 83.2 60.1
SLNO 52.38 Soleno Therapeutics, Inc. Biotechnology 98.00 92.78 58.1
SG 37.88 Sweetgreen, Inc. Restaurants 97.00 92.56 70.3
ZIM 23.76 ZIM Integrated Shipping S Marine Shipping 95.00 89.35 60.2
SUPV 7.56 Grupo Supervielle S.A. Am Banks - Regional 95.00 89.42 75.7
GGAL 36.63 Grupo Financiero Galicia S.A. Banks - Regional 94.00 90.4 60.8
TAYD 54.00 Taylor Devices, Inc. Specialty Industrial Machinery 93.00 89.94 58
ARIS 17.91 Aris Water Solutions, Inc. Utilities - Regulated Water 92.00 91.29 73.7
NRG 83.85 NRG Energy, Inc. Utilities - Independent Power Producers 92.00 97.61 63.7
DNTH 31.61 Dianthus Therapeutics, Inc. Biotechnology 92.00 87.38 67.3
BBAR 10.68 Banco BBVA Argentina S.A. Banks - Regional 91.00 88.39 71.3
INFN 6.19 Infinera Corporation Communication Equipment 91.00 97.09 56.4
CRVO 19.00 CervoMed Inc. Biotechnology 91.00 82.63 52.1
OSPN 15.99 OneSpan Inc. Software - Infrastructure 90.00 98.56 68.3
FFNW 22.48 First Financial Northwest, Inc. Banks - Regional 89.00 98.84 63.6
TGLS 61.04 Tecnoglass Inc. Building Materials 89.00 96.64 69.5
GHM 33.64 Graham Corporation Specialty Industrial Machinery 89.00 89.3 71.7
RDFN 9.84 Redfin Corporation Real Estate Services 88.00 94.72 61.9
WIX 171.98 Wix.com Ltd. Software - Infrastructure 88.00 96.01 67.8
LFVN 8.75 Lifevantage Corporation Packaged Foods 87.00 95.77 64.7
CAL 43.00 Caleres, Inc. Apparel Retail 87.00 98.14 62.3
MTZ 113.29 MasTec, Inc. Engineering & Construction 86.00 96.59 62.7
NGS 22.83 Natural Gas Services Group, Inc. Oil & Gas Equipment & Services 86.00 89.84 76.4
NFLX 711.33 Netflix, Inc. Entertainment 85.00 96.86 78.4
EML 31.00 Eastern Company (The) Tools & Accessories 85.00 95.32 69.9
SPHR 50.88 Sphere Entertainment Co. Class A Entertainment 84.00 95.26 61.7
SMBC 58.03 Southern Missouri Bancorp, Inc. Banks - Regional 84.00 94.09 72.3
PANW 375.37 Palo Alto Networks, Inc. Software - Infrastructure 84.00 93.1 69.2
RYTM 53.92 Rhythm Pharmaceuticals, Inc. Biotechnology 84.00 81.95 61.4
SPR 37.08 Spirit Aerosystems Holdings, Inc. Aerospace & Defense 83.00 94.01 60.3
BHRB 70.00 Burke & Herbert Financial Services Corp. Banks - Regional 83.00 90.06 60.8
PDD 152.22 PDD Holdings Inc. Internet Retail 83.00 96.7 81.2
FIHL 19.02 Fidelis Insurance Holdings Limited Insurance - Diversified 83.00 94.95 70.1
ARGX 540.49 argenx SE Biotechnology 82.00 96.14 60.2
RM 33.87 Regional Management Corp. Credit Services 82.00 92.12 70.4
SKYT 10.50 SkyWater Technology, Inc. Semiconductors 82.00 91.52 64.7
QNST 20.50 QuinStreet, Inc. Advertising Agencies 82.00 83.37 53.5
FTNT 76.31 Fortinet, Inc. Software - Infrastructure 82.00 97.61 65.1
SNCR 12.98 Synchronoss Technologies, Inc. Software - Infrastructure 81.00 95.69 65.4
TSEM 44.18 Tower Semiconductor Ltd. Semiconductors 81.00 91.33 59.4
FIS 80.20 Fidelity National Information Services, Inc. Information Technology Services 81.00 98.13 56.6
ASTL 10.19 Algoma Steel Group Inc. Steel 81.00 95.88 61.4
GE 177.20 GE Aerospace Aerospace & Defense 81.00 95.76 68.7
ITGR 130.16 Integer Holdings Corporation Medical Devices 81.00 94.98 60.1
GFR 8.03 Greenfire Resources Ltd. Oil & Gas Exploration & Production 80.00 87.42 56.6
GSHD 92.50 Goosehead Insurance, Inc. Insurance - Diversified 80.00 87.04 74.4
CPNG 23.66 Coupang, Inc. Internet Retail 80.00 97.17 66.1
PH 593.28 Parke Specialty Industrial Machinery 80.00 98.99 66.7
COLL 39.58 Collegium Pharmaceutical, Inc. Drug Manufacturers - Specialty & Generic 80.00 91.06 67.2
*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.