Breakoutwatch Weekly Summary 05/11/19
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|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.
Despite the negative trend for the week, there were several strong breakouts with the Volatility Squeeze pattern again delivering the best returns.
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.|
|VHC||6.90||711,009||VirnetX Holding Corp||Internet Software & Services||98||6.60|
|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|
|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
|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
|Aerospace/Defense - Major Diversified
|Diversified Computer Systems
|Charts of each industry rank and performance over 12 months are available on the site|
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