Breakoutwatch Weekly Summary 05/06/17
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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
Cup and Handle Breakouts Deliver 4.4% Average Gain this Week
The NASDAQ Composite gained 1% on Monday and was then range bound throughout the week ending with a 0.88% gain. Although it gave up some of Monday's gains, it still finished ahead of the DJI and S&P 500 which gained 0.32% and 0.63 % respectively. Friday's job's report saw a gain of 0.42% which contributed significantly to the week's gain.
In the area of breakouts we saw a return to dominance of the cup and handle pattern which contributed 16 of the 21 overall breakouts with an average gain of 4.4%. ATSG made a modest breakout on Monday and then gapped up on Thursday to gain 8.6% on massive volume and a further 1% on Friday also on heavy volume. These gains come ahead of Monday's earnings release and yet there was no news justifying these moves.
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Our latest strategy suggestions are here.
|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.|
|FRBK||9.10||324,764||Republic First Bancorp - Inc.||Regional - Northeast Banks||96||8.65|
|LMIA||13.92||91,516||LMI Aerospace - Inc.||Aerospace/Defense Products & Services||96||13.91|
|STRL||10.90||198,072||Sterling Construction Company Inc||Heavy Construction||96||10.73|
|CARB||22.00||606,078||Carbonite - Inc.||Business Software & Services||94||21.73|
|GEO||34.32||2,664,015||Geo Group Inc (The)||REIT - Healthcare Facilities||94||31.97|
|AXTI||7.10||1,354,798||AXT Inc||Semiconductor - Integrated Circuits||94||6.85|
|EDN||37.12||72,318||Empresa Distribuidora Y Comercializadora Norte S.A||Electric Utilities||94||33.62|
|RMR||54.30||64,898||The RMR Group Inc.||Closed-End Fund - Debt||94||54.15|
|RAVN||31.60||243,438||Raven Industries - Inc.||Diversified Machinery||94||31.25|
|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|
||Long Distance Carriers
|Multimedia & Graphics Software
|Basic Materials Wholesale
|Charts of each industry rank and performance over 12 months are available on the site|
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