Breakoutwatch Weekly Summary 08/25/18
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| New Features this Week
| Top Cup and Handle Chart Pattern Stocks
| Best Performing Index
Best Performing Industry
Most Improved Industry
|NASDAQ Closes at a New High but
Volume Level Constrains Breakouts
The NASDAQ Composite closed at a new high on Friday following a speech by Fed Chairman Powell expressing confidence in the economy while inflation remained within the Fed's target range. Although the NASDAQ closed at a new high it did not surpass the intraday high of 7933 set on July 25 of this year. That resistance level could be tested next week, although it is notable that volume levels this week were mostly below average except for Thursday when the index closed for a small loss. Perhaps the low volume can be attributed to the dog days of summer, but Thursday's higher volume on a down day perhaps indicates that the bears are on the prowl.
The lower volume levels constrained the number of breakouts to just 11 with only modest gains.
No new features this week
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.|
|PBF||50.12||2,971,732||PBF Energy Inc. Class A Common Stock||Oil & Gas Refining & Marketing||94||49.80|
|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 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|
|1 Week||3 Weeks||13 Weeks||26 Weeks|
|Internet Service Providers
||Internet Service Providers
||Auto Parts Stores
||Home Health Care
|Charts of each industry rank and performance over 12 months are available on the site|
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