Breakoutwatch Weekly Summary 04/27/19

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Weekly Commentary
New NASDAQ High Brings Improved Breakout Performance

The NASDAQ (and the S&P 500) set new closing highs this week while the DJI declined 0.1% following disappointing results from 3M, Intel,, and Exxon Mobil. Strong earnings results from technology companies like Amazon (AMZN), Facebook (FB), and Microsoft (MSFT), helped move the NASDAQ to its new high.

While the US economy appears strong with 1st Q GDP giving a surprise advance of 3.2% when the expectation was just 1.9%, the overseas picture looks bleak with slowdowns in China, Germany, South Korea and Japan. Perhaps this explains why US stocks are rising but doing so on less than average volume for the last 4 weeks, as the NASDAQ chart shows. This weakness in volume may cause a test of support for the new levels.

We recorded 21 breakouts this week with Cup and Handle (CWH) and Volatility Squeeze (SQZ) stocks almost equally represented but with SQZ giving the better average return. Only 3 of the 21 stocks closed below their breakout price.
NASDAQ 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 04/22/19
List Breakouts Avg. Gain
CWH 11 3.23
SQZ 10 4.42
HTF
0
HSB
0
DB
0
Breakouts Detail for Week Beginning 04/22/19
Brkout Date Symbol Base Squeeze Brkout Price Brkout Day Close RS Rank* Last Close Current % off BOP Gain at Intraday High
2019-04-24 CATS SQZ y 13.83 15 98 15.97 15.47% 15.55%
2019-04-23 CSL CWH n 128.01 128.43 0 139.95 9.33% 10.54%
2019-04-24 GPI CWH n 73.20 74.66 84 79.45 8.54% 8.93%
2019-04-24 TER CWH n 45.57 47.99 90 48.76 7% 8.69%
2019-04-25 CATS SQZ y 15.01 15.19 98 15.97 6.4% 6.46%
2019-04-23 QTWO SQZ y 70.04 72.25 0 74.5 6.37% 7.08%
2019-04-26 MDCO SQZ y 29.81 31.58 80 31.58 5.94% 8.19%
2019-04-25 FCN CWH n 81.58 83.63 88 85.25 4.5% 5.2%
2019-04-26 SPSC SQZ y 102.53 107.13 91 107.13 4.49% 12.16%
2019-04-23 CSIQ SQZ y 19.59 20.26 0 20.27 3.47% 5.92%
2019-04-25 CVI CWH n 44.22 45.82 82 45.63 3.19% 4.52%
2019-04-26 CGC CWH n 48.70 49.91 96 49.91 2.48% 3.55%
2019-04-26 UTL SQZ y 55.67 56.79 80 56.79 2.01% 6.31%
2019-04-25 SUI SQZ y 120.67 122.24 87 122.11 1.19% 2.38%
2019-04-25 CMCSA CWH n 42.83 42.93 86 43.08 0.58% 2.64%
2019-04-26 CECO CWH n 18.29 18.38 90 18.38 0.49% 0.49%
2019-04-24 SWI SQZ y 19.48 19.74 87 19.51 0.15% 2.87%
2019-04-26 ULBI CWH n 11.54 11.55 94 11.55 0.09% 0.52%
2019-04-24 JOBS CWH n 93.82 95.02 91 93.79 -0.03% 2.31%
2019-04-24 AMKR CWH n 9.23 9.5 85 9.17 -0.65% 5.53%
2019-04-24 PFPT SQZ y 126.20 127.65 84 124.55 -1.31% 4.14%
*RS Rank on day before breakout.
Top Rated Cup and Handle Stocks as of Friday April 26, 2019
Symbol BO
Price
BO
Vol.
Company Industry RS
Rank
Last
Close
PACB 7.42 1,941,560 N/A Biotechnology 98 7.35
FRO 8.24 707,384 N/A Shipping 97 8.04
NGL 14.83 1,395,015 N/A Oil & Gas Refining & Marketing 91 14.50
VIAV 13.38 3,110,260 N/A Communication Equipment 90 13.24
SSW 10.50 1,319,360 N/A Shipping 86 10.12
GOLD 14.54 22,245,584 N/A Gold 86 13.00
DRNA 15.33 832,834 N/A Biotechnology 84 13.31
MX 10.45 525,858 N/A Semiconductor - Specialized 84 9.34
KIM 18.64 4,922,458 N/A REIT - Retail 81 17.81
BRX 18.54 4,132,912 N/A REIT - Retail 81 18.05
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 26543.3
-0.06% 13.79% Up
NASDAQ 8146.4
1.85% 22.77% Up
S&P 500 2939.88
1.2% 17.27% 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
NASDAQ Composite NASDAQ Composite
13.7 %
NASDAQ Composite
13.66 %
NASDAQ Composite
22.77 %
Best Performing Industry (by average technical score over each period)
1 Week 3 Weeks 13 Weeks 26 Weeks
Personal Computers
Personal Computers
Foreign Utilities
Auto Parts Stores
Most Improved Industry (by change in technical rank2)
Aerospace/Defense - Major Diversified
112
Personal Products
93
Music & Video Stores
212
Semiconductor - Memory Chips
172
Charts of each industry rank and performance over 12 months are available on the site

 

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