Breakoutwatch Weekly Summary 05/11/19

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Weekly Commentary
NASDAQ Bounces Off Support Level. Upward Trend Continues Except for DOW

After a week of trade uncertainty and falling prices the NASDAQ found support at the 50 day average price level on both Thursday and Friday.  Although the 25% tariffs on Chinese imports went into effect on Friday causing early selling, the index recovered for a 0.4% gain on the day. Nevertheless, the index was left with a 3% loss for the week. Friday's recovery came after optimistic rhetoric from the Administration, but uncertainty is likely to continue as President Trump threatens to widen the tariffs on a further $325 billion of Chinese imports.

Our trend indicators remain positive for the NASDAQ and S&P 500. The DJI fell heavily on Tuesday and is below the 50 day support level and could soon test the 200 day average level. Our tend indicator for the DJI is now negative.

NASDAQ Chart

Despite the negative trend for the week, there were several strong breakouts with the Volatility Squeeze pattern again delivering the best returns.

New Features this Week

No new features this week
Strategy Suggestions
Our latest strategy suggestions are here.
Breakouts Summary by Watchlist for Week Beginning 05/06/19
List Breakouts Avg. Gain
CWH 12 1.68
SQZ 8 6.06
HTF
0
HSB
0
DB
0
Breakouts Detail for Week Beginning 05/06/19
Brkout Date Symbol Base Squeeze Brkout Price Brkout Day Close RS Rank* Last Close Current % off BOP Gain at Intraday High
2019-05-09 CECE SQZ y 8.01 9.35 89 9.42 17.6% 20.47%
2019-05-07 MNOV CWH n 11.71 12.09 87 12.8 9.31% 10.63%
2019-05-09 OZM SQZ y 16.23 17.18 84 17.51 7.89% 11.52%
2019-05-07 SERV CWH n 49.89 53.8 90 53.57 7.38% 13.25%
2019-05-08 GNE SQZ y 9.11 9.4 96 9.76 7.14% 8.45%
2019-05-09 GTLS SQZ y 86.10 93.16 88 91.03 5.73% 8.62%
2019-05-06 VLRS SQZ y 9.36 9.9 93 9.71 3.74% 6.73%
2019-05-08 HSIC SQZ y 66.72 68.71 86 68.9 3.27% 4.42%
2019-05-09 ANIP SQZ y 71.01 73.17 91 73.19 3.07% 4.21%
2019-05-10 CYTK CWH n 9.79 10.07 90 10.07 2.86% 6.13%
2019-05-10 SAM CWH n 338.70 347.83 91 347.83 2.7% 3.51%
2019-05-10 FLY CWH n 15.01 15.41 85 15.41 2.66% 3.93%
2019-05-09 CECO CWH y 18.55 19.31 92 18.95 2.16% 7.12%
2019-05-08 TTEC CWH n 36.89 38.25 86 37.24 0.95% 7.97%
2019-05-07 ENFC CWH n 29.65 29.67 84 29.67 0.07% 0.1%
2019-05-10 ANIP SQZ y 73.18 73.19 93 73.19 0.01% 1.12%
2019-05-06 APC CWH n 73.62 75.49 93 73.06 -0.76% 3.55%
2019-05-06 BRKS CWH n 39.37 39.77 91 38.93 -1.12% 2.13%
2019-05-09 JCOM CWH n 90.28 90.6 82 88.99 -1.43% 0.79%
2019-05-06 IT CWH y 161.24 161.49 84 153.855 -4.58% 0.38%
*RS Rank on day before breakout.
Solar
Top Rated Cup and Handle Stocks as of Friday May 10, 2019
Symbol BO
Price
BO
Vol.
Company Industry RS
Rank
Last
Close
VHC 6.90 711,009 VirnetX Holding Corp Internet Software & Services 98 6.60
FRO 8.30 669,927 Frontline Ltd. Shipping 97 7.90
VSLR 7.33 1,139,854 Vivint Solar, Inc. Semiconductor - Specialized 94 6.42
NGL 14.83 1,099,378 NGL Energy Partners LP Oil & Gas Refining & Marketing 92 13.82
VIAV 14.00 3,196,658 Viavi Solutions Inc. Communication Equipment 91 13.64
SSW 10.70 1,387,844 Seaspan Corporation Shipping 84 9.80
BSMX 8.74 3,121,672 Banco Santander (México), S.A. Foreign Regional Banks 84 7.96
NAVI 14.01 2,450,474 Navient Corporation Credit Services 83 13.82
BRX 18.54 3,644,067 Brixmor Property Group Inc. REIT - Retail 82 18.25
RUN 17.44 1,716,010 Sunrun Inc. Semiconductor - Specialized 82 15.07
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 25942.4
-2.12% 11.21% Down
NASDAQ 7916.94
-3.03% 19.32% Up
S&P 500 2881.4
-2.18% 14.94% 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 NASDAQ Composite
8.48 %
NASDAQ Composite
6.89 %
NASDAQ Composite
19.32 %
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)
Hospitals
61
Aerospace/Defense - Major Diversified
149
Diversified Computer Systems
161
Synthetics
215
Charts of each industry rank and performance over 12 months are available on the site

 

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