Breakoutwatch Weekly Summary 12/09/17
You are receiving this email because you are or were a BreakoutWatch.com subscriber, or have subscribed to our weekly newsletter. This newsletter summarizes the breakout events of the week and provides additional guidance that does not fit into our daily format. It is published each weekend.
| High Tight Flag Watchlist Available
Again I'm pleased to report that data errors that were corrupting this watchlist have been corrected and the watchlist is available again. The three major indexes all slipped slightly compared to the previous Friday's close as investors approached the markets with caution ahead of the tax reform reconciliation between the different versions from the House and Senate. Critical to these negotiations this week will be the outcome of Tuesday's election in Alabama. Should the Democratic candidate win, then pressure to complete negotiations before the end of the year will intensify and nervousness among investors that this will not be achieved will likely increase. Hence the outcome of the election could have a major impact on next Wednesday's trading.  The NASDAQ started the week with
a retreat on above average volume and continued with positive
gains but on below average volume. The effect was to limit the
number of confirmed breakouts to just 6. The strongest by far
was RVNC which broke out from a cup and handle pattern on
Tuesday. However, the stock gapped up at the open by more than
18% above the breakout price putting it out of our 5% range
limit. The strength of this breakout is surprising considering
the day before the stock lost 7% the day before.
On the other hand, ETSY, which broke out from a Volatility Squeeze pattern on Monday conformed more to our strongly suggested criteria of looking for stocks with upward momentum (meaning positive price and volume moves) in the handle or squeeze. Note the price gains on above average volume on the two days before breakout. When perusing our CWH or SQZ watchlist and charts , look for these features.  |
| No new features this week.
|
|
Our latest strategy
suggestions are here.
|
| List | Breakouts | Avg. Gain |
|---|---|---|
| CWH | 2 | 15.48 |
| SQZ | 3 | 7.14 |
| HTF | 1 | 4.41 |
| HSB | 0 | |
| DB | 0 |
| Brkout Date | Symbol | Base | Squeeze | BrkoutOut Price | Brkout Day Close | RS Rank* | Last Close | Current % off BOP | Gain at Intraday High |
|---|---|---|---|---|---|---|---|---|---|
| 2017-12-05 | RVNC | CWH | n | 28.35 | 35 | 80 | 34.65 | 22.22% | 31.22% |
| 2017-12-04 | ETSY | SQZ | y | 16.84 | 18 | 83 | 19.32 | 14.73% | 15.91% |
| 2017-12-07 | GGAL | CWH | n | 59.76 | 62 | 95 | 64.98 | 8.73% | 9.55% |
| 2017-12-05 | ETSY | SQZ | y | 17.92 | 18 | 91 | 19.32 | 7.81% | 8.93% |
| 2017-12-06 | LOV | HTF | n | 11.12 | 11 | 99 | 11.61 | 4.41% | 11.51% |
| 2017-12-07 | STRL | SQZ | y | 17.87 | 18 | 96 | 17.67 | -1.12% | 5.76% |
| *RS Rank on day before breakout. | |||||||||
| Symbol | BO Price |
BO Vol. |
Company | Industry | RS Rank |
Last Close |
|---|---|---|---|---|---|---|
| SORL | 8.45 | 1,024,094 | SORL Auto Parts - Inc. - Common Stock | Auto Manufacturers - Major | 95 | 6.97 |
| 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 |
|---|---|---|---|---|
| Dow | 24211 |
-0.09% | 22.51% | Up |
| NASDAQ | 6813 |
-0.51% | 26.56% | Up |
| S&P 500 | 2637 |
-0.2% | 17.78% | Up |
|
1The Market Trend is derived from
our proprietary market model. The market model is described on
the site here.
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 |
|---|---|---|---|
| Dow Jones |
Dow Jones 11.07 % |
Dow Jones 13.82 % |
NASDAQ Composite 26.56 % |
| 1 Week | 3 Weeks | 13 Weeks | 26 Weeks |
|---|---|---|---|
| Auto Parts Wholesale |
Auto Parts Wholesale |
Recreational Vehicles |
Aluminum |
| Home Improvement Stores 99 |
Drug Related Products 138 |
Wholesale - Other 216 |
Wholesale - Other 216 |
| Charts of each industry rank and performance over 12 months are available on the site | |||
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