Breakoutwatch Weekly Summary 09/08/2023
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The newsletter has been absent for a few weeks as I have concentrated on correcting some data problems introduced by a hack of the database. I believe all stock data is now correct and watchlist filters are working again. Next week I depart for 4 weeks on a European vacation but will try to produce this newsletter remotely.
Market Summary
Stocks rise on easing inflation fears
Hopeful signs on the inflation front helped the major benchmarks end with solid gains for the week, although stocks closed out their first negative month since February. A decrease in longer-term interest rates over much of the week provided a boost to growth shares in particular by reducing the implied discount on future earnings. Smaller-cap stocks outperformed, however, narrowing the significant year-to-date gap with large-caps. [more...]
Major Index Performance
| Dow Jones
|
| Last Close
| 34500.7 |
| Wk. Gain
| -0.98 % |
| Yr. Gain
| 4.08 % |
| Trend
| Down |
|
| S&P 500
|
| Last Close
| 4451.14 |
| Wk. Gain
| -1.31 % |
| Yr. Gain
| 15.52 % |
| Trend
| Up |
|
| NASDAQ Comp.
|
| Last Close
| 13748.8 |
| Wk. Gain
| -1.76 % |
| Yr. Gain
| 30.17 % |
| Trend
| Up |
|
| Russell 2000
|
| Last Close
| 13748.8 |
| Wk. Gain
| 617.47 % |
| Yr. Gain
| 676.88 % |
| Trend
| Down |
|
Performance by Sector
| Sector |
Wk. Change % |
Yr. Change % |
Trend |
| Consumer Discretionary |
-0.74 |
30.41 |
Up |
| Consumer Staples |
-0.72 |
-1.44 |
Down |
| Energy |
-0.37 |
6.48 |
Up |
| Finance |
-1.41 |
0.61 |
Up |
| Health Care |
-1.3 |
-2.21 |
Down |
| Industrials |
-2.46 |
11.51 |
Up |
| Technology |
-2.09 |
37.77 |
Up |
| Materials |
-2.71 |
5.09 |
Up |
| REIT |
-0.46 |
-0.7 |
Up |
| Telecom |
-0.71 |
32.67 |
Up |
| Utilities |
-0.06 |
-12.51 |
Down |
Breakouts This Week Still Within 5% of Breakout Price (Limit 20 top C Score)
| Watchlist |
Symbol |
Company |
Industry |
C Score* |
% Gain |
| SQZ |
MSFT |
Microsoft Corporation |
Software - Infrastructure |
82.1 % |
0.7 % |
| SQZ |
SLB |
Schlumberger N.V. |
Shell Companies |
81.9 % |
1.2 % |
| CWH |
BKR |
Baker Hughes Company |
Travel Services |
81.8 % |
2 % |
| CWH |
DAKT |
Daktronics, Inc. |
Electronic Components |
79.6 % |
3.4 % |
| SQZ |
ACGL |
Arch Capital Group Ltd. |
Insurance - Diversified |
79 % |
2.6 % |
| SQZ |
AEL |
American Equity Investment Life Holding Company |
Insurance - Life |
76.3 % |
0.5 % |
| SQZ |
BFAM |
Bright Horizons Family Solutions Inc. |
Personal Services |
75.9 % |
0.3 % |
| SQZ |
NOV |
NOV Inc. |
Information Technology Services |
72 % |
0 % |
| SQZ |
EMR |
Emerson Electric Company |
Specialty Industrial Machinery |
71.6 % |
1.2 % |
| SQZ |
PBF |
PBF Energy Inc. |
Banks - Regional |
69.4 % |
4.2 % |
| SQZ |
SG |
Sweetgreen, Inc. |
Restaurants |
69.4 % |
1.2 % |
| SQZ |
HES |
Hess Corporation |
Asset Management |
69.3 % |
0.7 % |
| SQZ |
ARGX |
argenx SE |
Biotechnology |
68.2 % |
0.7 % |
| SQZ |
PSTG |
Pure Storage, Inc. |
Computer Hardware |
68.2 % |
1.5 % |
| SQZ |
LOGI |
Logitech International S.A. |
Computer Hardware |
67.8 % |
2.9 % |
| SQZ |
DINO |
HF Sincl |
Restaurants |
66.5 % |
2 % |
| SQZ |
MIRM |
Mirum Pharmaceuticals, Inc. |
Biotechnology |
64.9 % |
4.3 % |
| SQZ |
ROIV |
Roivant Sciences Ltd. |
Biotechnology |
63.8 % |
0.1 % |
| SQZ |
GKOS |
Glaukos Corporation |
Medical Devices |
62.7 % |
2.5 % |
| SQZ |
EVI |
EVI Industries, Inc. |
Industrial Distribution |
61.7 % |
1.6 % |
| *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 |
MYRG |
MYR Group, Inc. |
Medical Devices |
80.1 % |
-3.3 % |
| SS |
STN |
Stantec Inc |
Semiconductors |
74.2 % |
-0.5 % |
| SS |
VMC |
Vulcan Materials Company (Holding Company) |
Building Materials |
73.8 % |
-2.2 % |
| SS |
VNT |
Vontier Corporation |
REIT - Office |
70.1 % |
-1.8 % |
| SS |
MRK |
Merck & Company, Inc. |
Drug Manufacturers - General |
64.1 % |
-1 % |
| SS |
ALOT |
AstroNova, Inc. |
Computer Hardware |
62.6 % |
-0.2 % |
| SS |
TWO |
Two Harbors Investment Co |
REIT - Mortgage |
62.4 % |
-0.1 % |
| SS |
ETNB |
89bio, Inc. |
Biotechnology |
59.8 % |
-0.8 % |
| *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
Aug. 16, 2023 /PRNewswire/ -- IDEAYA Biosciences, Inc. (Nasdaq: IDYA), a precision medicine oncology company committed to the discovery and development of targeted therapeutics, announced the achievement of First-Patient-In for the company-sponsored Phase 2 clinical trial evaluating darovasertib as neoadjuvant and adjuvant therapy in primary uveal melanoma (UM) patients.
