Breakoutwatch Weekly Summary 09/22/18

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.

Contents
New Features this Week
Strategy Suggestions
Breakouts Summary
Breakouts Detail
Top Cup and Handle Chart Pattern Stocks
Breakouts Index
Best Performing Index
Best Performing Industry
Most Improved Industry

Weekly Commentary
NASDAQ Slips due to New Sector Creation

A new sector 'Communications Services' was created following Friday's close resulting in significantly increased trading in NASDAQ stocks as portfolio managers re-balanced portfolios in anticipation of the new sector beginning operation on Monday. The change also coincided with a 'quadruple witching day' when volumes usually increase as futures and options contracts expire. Several large cap technology stocks (Twitter, Facebook and Alphabet) took a hit as they were re-classified into the new sector. The result was a loss for the week of the NASDAQ of 0.3% while the DJI and S&P 500 gained 2.3% and 0.9% respectively. The composition of the new sector is:

Communications Services


NASDAQ Chart

Top performing breakout stock for the week was MRNS which broke out from a cup and handle pattern on Monday. The stock showed volume well above average the day before breakout suggesting that a breakout was imminent.

MRNS chart

New Features this Week

No new features this week
Strategy Suggestions
Our latest strategy suggestions are here.
Breakouts Summary by Watchlist for Week Beginning 09/17/18
List Breakouts Avg. Gain
CWH 8 3.74
SQZ 4 5.73
HTF
0
HSB
0
DB 2 4.59
Breakouts Detail for Week Beginning 09/17/18
Brkout Date Symbol Base Squeeze BrkoutOut Price Brkout Day Close RS Rank* Last Close Current % off BOP Gain at Intraday High
2018-09-17 MRNS CWH n 6.98 7 81 8.78 25.79% 13.32%
2018-09-18 EPM SQZ y 10.26 10.8 89 11.2 9.16% 4.78%
2018-09-17 RDNT SQZ y 14.31 15.05 82 15.55 8.67% 6.99%
2018-09-18 YELP DB n 47.73 49.97 71 49.92 4.59% 4.23%
2018-09-20 YELP DB n 47.73 52.07 77 49.92 4.59% 4.23%
2018-09-19 ZFGN CWH n 10.46 11.17 98 10.78 3.06% 3.25%
2018-09-20 MBI SQZ y 10.95 11.26 86 11.24 2.65% 2.37%
2018-09-21 CVI SQZ y 38.28 39.21 82 39.21 2.43% 0.18%
2018-09-18 CASY CWH n 126.86 127.76 84 128.88 1.59% 0.58%
2018-09-21 STML CWH n 17.05 17.3 83 17.3 1.47% -0.29%
2018-09-21 HCKT CWH n 20.11 20.39 86 20.39 1.39% -2.24%
2018-09-20 MNOV CWH n 11.78 12.2 93 11.93 1.27% 0.08%
2018-09-21 AZO CWH n 768.42 769.87 82 769.87 0.19% -1.03%
2018-09-19 FLDM CWH n 8.26 8.29 95 7.86 -4.84% -1.21%
*RS Rank on day before breakout.
Top Rated Cup and Handle Stocks as of Friday September 21, 2018
Symbol BO
Price
BO
Vol.
Company Industry RS
Rank
Last
Close
NITE 25.83 179,388 Nightstar Therapeutics plc - American Depositary S Investment Brokerage - Regional 97 25.50
NDLS 12.55 780,543 Noodles & Company - Common Stock Restaurants 97 12.50
SKY 30.10 526,884 Skyline Champion Corporation Common Stock Manufactured Housing 96 30.03
GPRK 19.12 393,795 Geopark Ltd Common Shares Oil & Gas Drilling & Exploration 95 19.00
These stocks meet our suggested screening factors for our Cup and Handle Chart Pattern watchlist.
See Revised Rules for Trading Cup and Handle Breakouts
Major Index Summary
Index Value Change Week Change YTD Trend1
Dow 26743.5
2.25% 8.19% Up
NASDAQ 7986.96
-0.29% 15.7% Up
S&P 500 2929.67
0.85% 9.58% 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.
Best Performing Index
1 Week 13 Weeks 26 Weeks Year-to-Date
Dow Jones Dow Jones
3.82 %
NASDAQ Composite
14.22 %
NASDAQ Composite
15.7 %
Best Performing Industry (by average technical score over each period)
1 Week 3 Weeks 13 Weeks 26 Weeks
Internet Service Providers
Internet Service Providers
Auto Parts Stores
Manufactured Housing
Most Improved Industry (by change in technical rank2)
Housewares & Accessories
94
Cleaning Products
113
Toy & Hobby Stores
207
Grocery Stores
185
Charts of each industry rank and performance over 12 months are available on the site

 

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