Breakoutwatch Weekly Summary 09/19/2024
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Contents
Market Summary
Stocks rebound after sell-off
Stocks managed to post solid gains and largely recovered from the previous week’s steep losses, which saw the S&P 500 Index suffer its worst weekly decline since March 2023. Growth stocks outpaced value shares by a wide margin, helped by strong performance from technology stocks. NVIDIA was a particularly strong contributor after the chip giant offered a positive outlook on artificial intelligence at an investment conference. T. Rowe Price traders noted that it was a busy week for conferences in general, which seemed to drive sentiment. [more...]
Major Index Performance
| Dow Jones | |
|---|---|
| Last Close | |
| Wk. Gain | -100 % |
| Yr. Gain | -100 % |
| Trend | Up |
|
|
| S&P 500 | |
|---|---|
| Last Close | |
| Wk. Gain | -100 % |
| Yr. Gain | -100 % |
| Trend | Up |
|
|
| NASDAQ Comp. | |
|---|---|
| Last Close | |
| Wk. Gain | -100 % |
| Yr. Gain | -100 % |
| Trend | Up |
|
|
| Russell 2000 | |
|---|---|
| Last Close | |
| Wk. Gain | -100 % |
| Yr. Gain | -100 % |
| Trend | Up |
|
|
Performance by Sector
| Sector | Wk. Change % | Yr. Change % | Trend |
|---|---|---|---|
| Consumer Discretionary | 2.67 | 11.23 | Up |
| Consumer Staples | -1.59 | 14.53 | Up |
| Energy | 3.45 | 5.41 | Down |
| Finance | 2.55 | 21.21 | Up |
| Health Care | -0.39 | 14.72 | Up |
| Industrials | 2.84 | 17.85 | Up |
| Technology | 2.75 | 21.27 | Up |
| Materials | 2.31 | 10.36 | Up |
| REIT | -0.88 | 11.51 | Up |
| Telecom | 2.79 | 22.3 | Up |
| Utilities | -0.88 | 23.75 | Up |
Breakouts This Week Still Within 5% of Breakout Price (Limit 20 top C Score)
| Watchlist | Symbol | Company | Industry | C Score* | % Gain |
|---|---|---|---|---|---|
| SQZ | PIPR | Piper Sandler Companies | Capital Markets | 79.4 % | 4.6 % |
| SQZ | GSHD | Goosehead Insurance, Inc. | Confectioners | 79.1 % | 4.3 % |
| SQZ | RCL | Royal Caribbean Cruises Ltd. | Textile Manufacturing | 78.3 % | 3.6 % |
| CWH | BBAR | Banco BBVA Argentina S.A. | Banks - Regional | 76.4 % | 0.1 % |
| SQZ | EVR | Evercore Inc. | Capital Markets | 75.9 % | 3.8 % |
| SQZ | IBCP | Independent Bank Corporation | Banks - Regional | 72.9 % | 3.6 % |
| SQZ | LQDT | Liquidity Services, Inc. | Personal Services | 71.1 % | 4.2 % |
| SQZ | CBAN | Colony Bankcorp, Inc. | Household & Personal Products | 70.4 % | 3 % |
| SQZ | COST | Costco Wholesale Corporation | Insurance Brokers | 70.4 % | 0 % |
| SQZ | ESQ | Esquire Financial Holdings, Inc. | Banks - Regional | 69.8 % | 4 % |
| SQZ | PETQ | PetIQ, Inc. | Drug Manufacturers - Specialty & Generic | 68.9 % | 0.1 % |
| SQZ | LINC | Linco | Advertising Agencies | 67.9 % | 1.3 % |
| SQZ | LNTH | Lantheus Holdings, Inc. | Drug Manufacturers - Specialty & Generic | 67.9 % | 2.9 % |
| SQZ | PLNT | Planet Fitness, Inc. | Lodging | 67.9 % | 2.1 % |
| SQZ | LII | Lennox International, Inc. | Biotechnology | 67 % | 4.3 % |
| SQZ | EQBK | Equity Bancshares, Inc. | Banks - Regional | 66.2 % | 3.6 % |
| SQZ | COLL | Collegium Pharmaceutical, Inc. | Drug Manufacturers - Specialty & Generic | 66.1 % | 0.4 % |
| SQZ | STBA | S&T Bancorp, Inc. | Household & Personal Products | 65.8 % | 4.6 % |
| SQZ | TOST | Toast, Inc. | Utilities - Regulated Gas | 65.8 % | 3.3 % |
| SQZ | BANF | BancFirst Corporation | Banks - Regional | 65.5 % | 2.6 % |
| *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 | WOW | WideOpenWest, Inc. | Specialty Chemicals | 49.2 % | -1.1 % |
| *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.