Breakoutwatch Weekly Summary 01/07/17
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| New Features this Week
| Top Cup and Handle Chart Pattern Stocks
Major Indexes Performance
| Best Performing Index
Best Performing Industry
Most Improved Industry
|The NASDAQ Composite broke out of its
recent trading range on Friday to a new high and for the week
significantly outperformed the other major indexes with a gain of
2.6%. Trading volume on each day of the new year was above
average but the number of breakouts was limited to just six. Each
of these came from a squeeze situation resulting from the narrow
trading range over the last two weeks. Three were from true
Volatility Squeeze patterns and three from Cup and Handle patterns
with a squeeze in the handle.
GIFI broke above its handle pivot on Thursday and continued to gain on Friday. Note that the gain was insufficient to relieve the squeeze position but because momentum trend turned down slightly, so GIGI did not qualify for our Volatility Squeeze list.
SHOP has been in three Volatility Squeeze situations in the last three months (indicated by the black dots on the center line in the lower chart) and finally broke out on massive volume on Thursday.
| No new features this week.
|Brkout Date||Symbol||Base||Squeeze||BrkoutOut Price||Brkout Day Close||RS Rank*||Last Close||Current % off BOP||Gain at Intraday High|
|*RS Rank on day before breakout.|
|RYI||16.85||425,613||Ryerson Holding Corporation||Metal Fabrication||97||13.80|
|MSB||11.65||58,126||Mesabi Trust||Diversified Investments||96||11.30|
|SPAR||9.80||194,816||Spartan Motors - Inc.||Trucks & Other Vehicles||95||9.15|
|JOY||28.17||1,679,457||Joy Global Inc.||Farm & Construction Machinery||94||28.09|
|EPE||7.49||3,919,422||EP Energy Corporation||Independent Oil & Gas||94||6.77|
|RIG||16.66||22,337,256||Transocean Ltd.||Oil & Gas Drilling & Exploration||93||15.77|
|MPG||23.15||701,150||Metaldyne Performance Group Inc.||Auto Parts||92||22.60|
|TPC||29.70||1,118,151||Tutor Perini Corporation||Heavy Construction||92||27.75|
|ISIL||22.38||2,111,592||Intersil Corporation||Semiconductor - Broad Line||92||22.36|
|UVE||29.20||502,416||UNIVERSAL INSURANCE HOLDINGS INC||Property & Casualty Insurance||92||27.75|
|These stocks meet our suggested screening factors
for our Cup and Handle Chart Pattern watchlist.
See Revised Rules for Trading Cup and Handle Breakouts
|Index||Value||Change Week||Change YTD||Trend1|
1The Market Trend is derived from our proprietary market model. The market model is described on the sitehere.
2The site also shows industry rankings based on fundamentals, combined technical and fundamentals, and on price alone. The site also shows daily industry movements.
|1 Week||13 Weeks||26 Weeks||Year-to-Date|
|1 Week||3 Weeks||13 Weeks||26 Weeks|
|Basic Materials Wholesale
|Tobacco Products - Other
|Long Distance Carriers
|Charts of each industry rank and performance over 12 months are available on the site|
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