Breakoutwatch Weekly Summary 11/28/2024
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Contents
Market Summary
Indexes approach record highs with broad-based gains
Major stock indexes finished the week higher, recovering some of the previous week’s losses despite some continuing uncertainty around the incoming Trump administration’s policies and escalating geopolitical tensions stemming from the conflict between Russia and Ukraine. Gains for the week were also relatively broad-based, with smaller-cap indexes outperforming large-caps and an equal-weighted version of the S&P 500 Index outpacing its more familiar capitalization-weighted counterpart. Similarly, the price of Bitcoin continued its postelection rally and notched its third consecutive week with a gain exceeding 10%. [more...]
Major Index Performance
| Dow Jones | |
|---|---|
| Last Close | |
| Wk. Gain | NAN % |
| Yr. Gain | -100 % |
| Trend | Up |
|
|
| S&P 500 | |
|---|---|
| Last Close | |
| Wk. Gain | NAN % |
| Yr. Gain | -100 % |
| Trend | Down |
|
|
| NASDAQ Comp. | |
|---|---|
| Last Close | |
| Wk. Gain | NAN % |
| Yr. Gain | -100 % |
| Trend | Down |
|
|
| Russell 2000 | |
|---|---|
| Last Close | |
| Wk. Gain | -100 % |
| Yr. Gain | -100 % |
| Trend | Up |
|
|
Performance by Sector
| Sector | Wk. Change % | Yr. Change % | Trend |
|---|---|---|---|
| Consumer Discretionary | 2.3 | 22.89 | Up |
| Consumer Staples | 1.71 | 17.02 | Up |
| Energy | -1.9 | 13.32 | Up |
| Finance | 2.2 | 37.44 | Up |
| Health Care | 2.01 | 8.68 | Down |
| Industrials | 1.43 | 27.04 | Up |
| Technology | -0.35 | 29.03 | Up |
| Materials | 0.91 | 11.93 | Up |
| REIT | 2.88 | 11.98 | Up |
| Telecom | 1.63 | 32.5 | Up |
| Utilities | 0.97 | 31.27 | Up |
Breakouts This Week Still Within 5% of Breakout Price (Limit 20 top C Score)
| Watchlist | Symbol | Company | Industry | C Score* | % Gain |
|---|---|---|---|---|---|
| HTF | PDEX | Pro-Dex, Inc. | Medical Instruments & Supplies | 76.1 % | 2 % |
| SQZ | USAP | Universal Stainless & Alloy Products, Inc. | Steel | 73.3 % | 0.1 % |
| SQZ | CNS | Cohen & Steers Inc | Packaged Foods | 73.1 % | 2.6 % |
| SQZ | NMRK | Newmark Group, Inc. | Real Estate Services | 66.2 % | 0.6 % |
| CWH | GME | GameStop Corporation | Specialty Retail | 66.1 % | 3.7 % |
| CWH | COMP | Compass, Inc. | Oil & Gas Midstream | 65.4 % | 2.7 % |
| CWH | PHIN | PHINIA Inc. | Specialty Retail | 63 % | 2.8 % |
| SQZ | SPCE | Virgin Galactic Holdings, Inc. | Software - Infrastructure | 62.1 % | 4.5 % |
| CWH | STKL | SunOpta, Inc. | Insurance - Specialty | 61.7 % | 0.8 % |
| CWH | MP | MP Materials Corp. | Gold | 56.9 % | 1.3 % |
| *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 | PRM | Perimeter Solutions, SA O | Advertising Agencies | 62.3 % | -3.2 % |
| SS | FSM | Fortuna Mining Corp. | Gold | 61.1 % | -1 % |
| SS | ARLO | Arlo Technologies, Inc. | Oil & Gas Exploration & Production | 37.3 % | -1.2 % |
| *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 Stocks Likely to Breakout next Week
| Symbol | BoP | Company | Industry | Relative Strength Rank | Within x% of BoP | C Score* |
|---|---|---|---|---|---|---|
| JANX | 58.06 | Janux Therapeutics, Inc. | Biotechnology | 96.00 | 84.09 | 51.3 |
| COMP | 65.4 | |||||
| VERA | 51.61 | Vera Therapeutics, Inc. | Biotechnology | 91.00 | 91.59 | 47 |
| GME | 29.80 | GameStop Corporation | Specialty Retail | 93.00 | 99.56 | 66.1 |
| UIS | 8.49 | Unisys Corporation New | Information Technology Services | 90.00 | 96.23 | 61.6 |
| REVG | 67 | |||||
| EGBN | 56.8 | |||||
| PRG | 49.90 | PROG Holdings, Inc. | Rental & Leasing Services | 82.00 | 96.35 | 68.3 |
| MP | 56.9 | |||||
| FCF | 53.1 | |||||
| HTBI | 55.4 | |||||
| SEM | 43.2 | |||||
| *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.