Breakoutwatch Weekly Summary 11/13/2024
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Contents
Market Summary
Stocks rally on growth and tax hopes following election
Most of the major benchmarks rose to record highs, as investors wagered that the Republicans’ capture of the White House and Senate, along with their expected retention of the House of Representatives—a so-called red sweep—would result in faster earnings growth, looser regulations, and lower corporate taxes. The small-cap Russell 2000 Index led the gains, surging 8.57% for the week, but was the sole benchmark to remain out of record territory—ending the week down 2.41% from its November 2021 record high. Meanwhile, the S&P 500 Index’s 4.66% gain was its best in almost exactly a year (the week ended November 3, 2023). [more...]
Major Index Performance
| Dow Jones | |
|---|---|
| Last Close | |
| Wk. Gain | NAN % |
| Yr. Gain | -100 % |
| Trend | Down |
|
|
| S&P 500 | |
|---|---|
| Last Close | |
| Wk. Gain | -100 % |
| Yr. Gain | -100 % |
| Trend | Down |
|
|
| NASDAQ Comp. | |
|---|---|
| Last Close | |
| Wk. Gain | -100 % |
| Yr. Gain | -100 % |
| Trend | Down |
|
|
| Russell 2000 | |
|---|---|
| Last Close | |
| Wk. Gain | -100 % |
| Yr. Gain | -100 % |
| Trend | Down |
|
|
Performance by Sector
| Sector | Wk. Change % | Yr. Change % | Trend |
|---|---|---|---|
| Consumer Discretionary | 2.78 | 20.57 | Up |
| Consumer Staples | 1.25 | 13.22 | Down |
| Energy | 0.34 | 11.44 | Up |
| Finance | 1.02 | 33.36 | Up |
| Health Care | -0.99 | 8.99 | Down |
| Industrials | 0.05 | 25.55 | Up |
| Technology | 0.84 | 30.34 | Up |
| Materials | -2.71 | 9.75 | Down |
| REIT | 0.3 | 6.85 | Down |
| Telecom | 1.05 | 32.95 | Up |
| Utilities | 0.71 | 24.44 | Down |
Breakouts This Week Still Within 5% of Breakout Price (Limit 20 top C Score)
| Watchlist | Symbol | Company | Industry | C Score* | % Gain |
|---|---|---|---|---|---|
| CWH | AX | Axos Financial, Inc. | Household & Personal Products | 75.2 % | 0.8 % |
| CWH | INBK | First Internet Bancorp | Household & Personal Products | 74.6 % | 1.5 % |
| CWH | LGND | Ligand Pharmaceuticals Inco | Biotechnology | 69.2 % | 4.5 % |
| DB | COST | Costco Wholesale Corporation | Insurance Brokers | 64.8 % | 2.5 % |
| CWH | ATRC | AtriCure, Inc. | Biotechnology | 60.8 % | 0.1 % |
| SQZ | DSGN | Design Therapeutics, Inc. | Biotechnology | 42.8 % | 4.4 % |
| SQZ | ATAT | Atour Lifestyle Holdings Limited | Home Improvement Retail | 41.8 % | 1.6 % |
| SQZ | SRTS | Sensus Healthcare, Inc. | Drug Manufacturers - General | 40.6 % | 1.3 % |
| CWH | CEPU | Central Puerto S.A. American Depositary Shares (each represents ten | Specialty Business Services | 39.8 % | 3.9 % |
| CWH | MP | MP Materials Corp. | Gold | 38.9 % | 2.2 % |
| SQZ | KROS | Keros Therapeutics, Inc. | Biotechnology | 38.4 % | 3.7 % |
| HTF | S | SentinelOne, Inc. | Utilities - Regulated Gas | 38.3 % | 3.4 % |
| SQZ | NMRK | Newmark Group, Inc. | Oil & Gas Midstream | 37.8 % | 1.4 % |
| SQZ | SLVM | Sylvamo Corporation | Biotechnology | 37.8 % | 1 % |
| SQZ | BALY | Bally's Corporation | Entertainment | 37.7 % | 0.6 % |
| SQZ | DDI | DoubleDown Interactive Co., Ltd. | Utilities - Diversified | 37.7 % | 1.2 % |
| SQZ | MMYT | MakeMyTrip Limited | Textile Manufacturing | 37.5 % | 1.9 % |
| SQZ | STOK | Stoke Therapeutics, Inc. | Biotechnology | 37.5 % | 2.6 % |
| CWH | GKOS | Glaukos Corporation | Drug Manufacturers - General | 36.8 % | 3 % |
| SQZ | AZPN | Aspen Technology, Inc. | Utilities - Renewable | 36.6 % | 2.1 % |
| *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 | SIGA | SIGA Technologies Inc. | Recreational Vehicles | 65 % | -4.3 % |
| SS | TIGO | Millicom International Cellular S.A. | Specialty Chemicals | 64.4 % | -3.1 % |
| SS | DOC | Healthpeak Properties, Inc. | Oil & Gas Refining & Marketing | 63.2 % | -2.3 % |
| SS | IMMR | Immersion Corporation | Utilities - Renewable | 62.2 % | -0.1 % |
| SS | ENSG | The Ensign Group, Inc. | Health Information Services | 61.8 % | -0.3 % |
| SS | ALNY | Alnylam Pharmaceuticals, Inc. | Biotechnology | 58.6 % | -2 % |
| SS | TEVA | Teva Pharmaceutical Indus | Biotechnology | 51.7 % | -4.9 % |
| *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* |
|---|---|---|---|---|---|---|
| VKTX | 0 | Millicom International Cellular S.A. | Specialty Chemicals | 76.00 | 35.8 | |
| SPRY | 41.7 | |||||
| DCTH | 68.3 | |||||
| APGE | 38.5 | |||||
| COGT | 35.7 | |||||
| VERA | 50.36 | Vera Therapeutics, Inc. | Biotechnology | 93.00 | 96.39 | 38.7 |
| BV | 40.7 | |||||
| CLPR | 38.3 | |||||
| AVAV | 70.2 | |||||
| CENX | 59.8 | |||||
| DESP | 15.68 | Despegar.com, Corp. Ordin | Textile Manufacturing | 89.00 | 93.69 | 38.2 |
| LNTH | 28.6 | |||||
| HIPO | 40.7 | |||||
| PM | 59.8 | |||||
| DDI | 37.7 | |||||
| UTHR | 74.5 | |||||
| VIST | 32.8 | |||||
| WIX | 38.8 | |||||
| CINT | 36.6 | |||||
| OPY | 64.6 | |||||
| MASI | 59 | |||||
| AA | 46.55 | Alcoa Corporation | Publishing | 81.00 | 87.97 | 36.8 |
| KROS | 38.4 | |||||
| FTNT | 66.7 | |||||
| EBC | 36.6 | |||||
| SHOP | 40.3 | |||||
| RBB | 36.1 | |||||
| SQ | 37.3 | |||||
| SRAD | 41 | |||||
| TSLA | 41 | |||||
| ITRI | 68.4 | |||||
| *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 Chart of the Week
There were no cup and handle stocks meeting our breakout model criteria this week.