Breakoutwatch Weekly Summary 09/04/2024

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Contents

Market Summary

Stocks end mixed in light pre-holiday trading

The major indexes ended mixed in a week of light trading ahead of the holiday weekend—T. Rowe Price traders observed that fewer shares traded hands Monday than on any other trading day so far this year, excluding early closes. The technology-heavy Nasdaq Composite fared the worst, dragged lower in part by chip giant NVIDIA, which lost nearly 10% of its value, or roughly USD 300 billion, at the stock’s low point on Thursday. Relatedly, value stocks outperformed growth shares by the largest margin since late July. Markets were scheduled to be closed the following Monday in observance of the Labor Day holiday. [more...]

Major Index Performance

Dow Jones
Last Close 41563.1
Wk. Gain 0.53 %
Yr. Gain 10.64 %
Trend Up
Dow Jones
S&P 500
Last Close 5648.4
Wk. Gain 0.74 %
Yr. Gain 19.04 %
Trend Up
S&P 500
NASDAQ Comp.
Last Close 17713.6
Wk. Gain 0.58 %
Yr. Gain 19.09 %
Trend Up
NASDAQ Comp.
Russell 2000
Last Close 17713.6
Wk. Gain 701.88 %
Yr. Gain 779.96 %
Trend Up
Russell 2000

Performance by Sector

Sector Wk. Change % Yr. Change % Trend
Consumer Discretionary -1.07 3.91 Up
Consumer Staples 0.92 15 Up
Energy -1.78 5.08 Up
Finance 0.37 19.62 Up
Health Care 0.1 14.92 Up
Industrials -1.37 12.5 Up
Technology -3.94 14.79 Up
Materials -1.19 6.52 Up
REIT 0.66 7.99 Up
Telecom -1.87 16.7 Up
Utilities 0.81 20.83 Up

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

Watchlist Symbol Company Industry C Score* % Gain
SQZ VEL Velocity Financial, Inc. Farm Products 70.8 % 2.4 %
SQZ MESO Mesoblast Limited Biotechnology 54.2 % 3 %
SQZ CADL Candel Therapeutics, Inc. Biotechnology 47.4 % 0.5 %
*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 TPC Tutor Perini Corporation Insurance - Diversified 68.9 % -0.5 %
SS PRIM Primoris Services Corporation Grocery Stores 63.1 % -2.2 %
SS GERN Geron Corporation Biotechnology 61.8 % -3.7 %
SS TARS Tarsus Pharmaceuticals, Inc. Biotechnology 61 % -1.1 %
SS GFF Griffon Corporation Computer Hardware 60.9 % -4.8 %
SS SWBI Smith & Wesson Brands, Inc. Drug Manufacturers - General 57.3 % -3.5 %
SS RSVR Reservoir Media, Inc. Other Precious Metals & Mining 53.4 % -2.5 %
SS CRM Salesforce, Inc. Utilities - Renewable 50.9 % -1.9 %
SS SNX TD SYNNEX Corporation Household & Personal Products 48.1 % -0.1 %
SS GIII N/A Leisure 47.9 % -3.6 %
SS ARVN Arvinas, Inc. Biotechnology 42.9 % -3.6 %
SS OPTN OptiNose, Inc. Biotechnology 39.8 % -3.8 %
*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 0 Select Water Solutions, Inc. Advertising Agencies 86.00 58.4
SLNO 52.38 Soleno Therapeutics, Inc. Biotechnology 98.00 90.24 54.4
SG 38.53 Sweetgreen, Inc. Residential Construction 96.00 75.97 67.4
SLDB 10.37 Solid Biosciences Inc. Biotechnology 95.00 81.68 52
BDTX 53.4
SUPV 75.7
CRVO 19.00 CervoMed Inc. Biotechnology 95.00 85.37 54.8
FLXS 43.60 Flexsteel Industries, Inc. Footwear & Accessories 93.00 91.9 75.5
ACRV 49.7
DKS 239.30 Dick's Sporting Goods Inc Footwear & Accessories 92.00 97 63
TILE 19.15 Interface, Inc. Beverages - Non-Alcoholic 91.00 95.2 70.9
BBAR 75
FRPT 69.2
NGS 22.83 Natural Gas Services Group, Inc. Luxury Goods 89.00 89.36 72.6
NVEI 33.33 Nuvei Corporation Utilities - Regulated Gas 91.00 99.76 60.3
QNST 63.1
RXST 58.23 RxSight, Inc. Drug Manufacturers - General 91.00 91.34 66.8
SKYH 73
STRW 12.44 Strawberry Fields REIT, Inc. Oil & Gas Refining & Marketing 91.00 94.05 75.2
ITOS 18.13 iTeos Therapeutics, Inc. Biotechnology 90.00 91.89 57.5
OSPN 16.41 OneSpan Inc. Utilities - Regulated Gas 89.00 94.09 67.4
VCTR 55.16 Victory Capital Holdings, Inc. Packaged Foods 90.00 95.79 77.8
WIX 175.75 Wix.com Ltd. Utilities - Regulated Gas 88.00 89.58 66.8
FNKO 10.73 Funko, Inc. Lodging 90.00 96.27 60.5
EML 31.22 Eastern Company (The) Packaged Foods 90.00 95.55 67
MTZ 113.69 MasTec, Inc. Advertising Agencies 83.00 91.79 59.4
NUVL 87.70 Nuvalent, Inc. Biotechnology 85.00 95.37 45
ACLX 74.10 Arcellx, Inc. Biotechnology 83.00 89.23 56.9
NFLX 711.33 Netflix, Inc. Other Precious Metals & Mining 85.00 94.94 76.7
IOT 65.5
COLL 39.58 Collegium Pharmaceutical, Inc. Oil & Gas Drilling 85.00 94.54 65.9
SPR 56
IP 49.24 International Paper Company Biotechnology 84.00 97.01 62
FIHL 19.02 Fidelis Insurance Holdings Limited Confectioners 80.00 95.74 65.9
ASA 20.06 ASA Gold and Precious Me Packaged Foods 81.00 94.02 36.1
CVEO 28.66 Civeo Corporation (Canada) Software - Infrastructure 83.00 96.89 73.6
TTD 105.39 The Trade Desk, Inc. Utilities - Renewable 82.00 95.81 75.4
TNGX 12.02 Tango Therapeutics, Inc. Biotechnology 82.00 90.93 56.7
STGW 7.32 Stagwell Inc. Gold 81.00 94.81 51.1
CRH 55
AAON 69.7
BHRB 61.2
NR 65
PANW 375.37 Palo Alto Networks, Inc. Utilities - Regulated Gas 81.00 94.59 67.8
*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.