Breakoutwatch Weekly Summary 01/26/19
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| New Features this Week
| Top Cup and Handle Chart Pattern Stocks
| Best Performing Index
Best Performing Industry
Most Improved Industry
|Increasing Number of
Confirmed Breakouts Shows Market Confidence Improving
Although the NASDAQ Composite gained only 0.1% this week the number of confirmed breakouts rose to 17, after just 7 last week. Persistent doubts over an uncertain U.S-China trade deal, Brexit and the Government shutdown saw selling on Tuesday and Wednesday but the potential damage was limited by support at the 200 day moving average. While two bills to halt the shutdown failed in the Senate on Wednesday, there was sufficient movement by Republicans towards the Democrat's position to provoke optimism that a settlement would soon be reached. Consequently Friday opened strongly and a concession speech by Trump allowed buying pressure to be maintained.
The Cup and Handle pattern delivered 16 breakouts with an average gain of 4.5% by Friday's close.
No new features this week
Our latest strategy suggestions are here.
|Brkout Date||Symbol||Base||Squeeze||Brkout Price||Brkout Day Close||RS Rank*||Last Close||Current % off BOP||Gain at Intraday High|
|*RS Rank on day before breakout.|
|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|
||Auto Parts Stores
|Auto Parts Wholesale
|Charts of each industry rank and performance over 12 months are available on the site|
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