Breakoutwatch Weekly Summary 03/08/2024
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Market Summary
Stocks end mostly higher following favorable inflation news
Most of the major benchmarks ended the week higher, with the Nasdaq Composite joining the S&P 500 Index in record territory for the first time in over two years. The month also closed a strong February, with the S&P 500 marking its strongest beginning two months of the year since 2019, according to The Wall Street Journal. The week’s gains were also broad-based, with an equal-weighted version of the S&P 500 Index modestly outperforming its more familiar market capitalization version. For the year-to-date period, however, the capitalization-weighted version of the index remained ahead by 409 basis points (4.09 percentage points), reflecting the outperformance of large, technology-oriented growth stocks. [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
| Down |
|
| Russell 2000
|
| Last Close
| |
| Wk. Gain
| -100 % |
| Yr. Gain
| -100 % |
| Trend
| Up |
|
Performance by Sector
| Sector |
Wk. Change % |
Yr. Change % |
Trend |
| Consumer Discretionary |
-1.7 |
2.67 |
Up |
| Consumer Staples |
1.95 |
5.87 |
Up |
| Energy |
0.63 |
3.86 |
Up |
| Finance |
0.99 |
7.56 |
Up |
| Health Care |
0.22 |
7.73 |
Up |
| Industrials |
0.7 |
8.18 |
Up |
| Technology |
0.41 |
10.91 |
Up |
| Materials |
2.04 |
4.87 |
Up |
| REIT |
0.46 |
-1.5 |
Up |
| Telecom |
-0.46 |
9.23 |
Down |
| Utilities |
3.55 |
1.2 |
Up |
Breakouts This Week Still Within 5% of Breakout Price (Limit 20 top C Score)
| Watchlist |
Symbol |
Company |
Industry |
C Score* |
% Gain |
| SQZ |
OPRX |
OptimizeRx Corporation |
Health Information Services |
42.1 % |
1.3 % |
| CWH |
ARHS |
Arhaus, Inc. |
Home Improvement Retail |
40.8 % |
4.3 % |
| CWH |
SKT |
Tanger Inc. |
REIT - Retail |
40.3 % |
0 % |
| CWH |
SUN |
Sunoco LP |
Building Materials |
40.2 % |
0.1 % |
| SQZ |
SRRK |
Scholar Rock Holding Corporation |
Biotechnology |
36.8 % |
1.2 % |
| SQZ |
HOLI |
Hollysys Automation Technologies, Ltd. |
Recreational Vehicles |
36.2 % |
0.4 % |
| *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. |
Breakdowns within 5% of Breakdown Price
| Watchlist |
Symbol |
Company |
Industry |
C Score* |
% Loss |
| SS |
TNK |
Teekay Tankers Ltd. |
Biotechnology |
36 % |
-2 % |
| SS |
FRST |
Primis Financial Corp. |
Banks - Regional |
35.8 % |
-1.8 % |
| SS |
MDXG |
MiMedx Group, Inc |
Biotechnology |
35.5 % |
-1.2 % |
| SS |
VRSK |
Verisk Analytics, Inc. |
Consulting Services |
32.1 % |
-2 % |
| SS |
AVPT |
AvePoint, Inc. |
Software - Infrastructure |
31.9 % |
-4.5 % |
| SS |
CYT |
Cyteir Therapeutics, Inc. |
Biotechnology |
31.3 % |
-1.6 % |
| SS |
BSY |
Bentley Systems, Inco |
Software - Application |
29.7 % |
-2.1 % |
| SS |
MIRM |
Mirum Pharmaceuticals, Inc. |
Biotechnology |
25.7 % |
-2.2 % |
| SS |
TMCI |
Treace Medical Concepts, Inc. |
Medical Devices |
25.3 % |
-1.3 % |
| SS |
BMEA |
Biomea Fusion, Inc. |
Biotechnology |
21.6 % |
-3.5 % |
| *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. |
| There were no CWH stocks meeting our breakout model criteria |
| *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.