Breakoutwatch Weekly Summary 03/11/17
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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
|Doji candlestick patterns on Monday
through Thursday showed traders feared that the the rally may be
coming to an end.
Doji patterns occur when the bulls and bears are almost in balance and indicate uncertainty about the future direction of the market. Friday's employment report gave the bulls some momentum and the NASDAQ closed the week with an accumulation day. This was insufficient to give the index a positive gain week over week with a loss of 0.15%. Nevertheless this was a better performance than the DJI and S&P 500.
Below average volumes kept the number of breakouts to just 7 this week. However, the star breakout was MOMO which perfectly fitted our recommended strategy criteria.
No new features this week.
Our latest strategy suggestions are here.
MOMO Fitted them perfectly.
MOMO is a Chinese dating app that has seen significant growth since its IPO in 2014. You can see this represented in our CANTATA Evaluation below. MOMO was a pick on our cup-and-handle watchlist on Monday and perfectly met our recommended strategy criteria. We issued a breakout alert at 9:45 on Tuesday at a price of 29.94 compared to a breakout price of 27.93. Unfortunately, this alert was 7% above the breakout price, which exceeded our suggested limit of 5% above BoP. However, because it closed above the BoP on massive volume (5 x the 50 dma) this also fit our criteria for a buy at the open on Wednesday.
|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.|
|BZUN||16.20||715,503||Baozun Inc.||Catalog & Mail Order Houses||97||15.25|
|ETE||19.85||7,316,996||Energy Transfer Equity - L.P.||Oil & Gas Pipelines||94||18.51|
|ISLE||25.93||190,059||Isle of Capri Casinos - Inc.||Resorts & Casinos||94||25.54|
|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|
|Regional - Southwest Banks
||Regional - Southwest Banks
||Regional - Southwest Banks
|Home Health Care
|Long Distance Carriers
|Charts of each industry rank and performance over 12 months are available on the site|
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