Breakoutwatch Weekly Summary 05/25/19
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.
|NASDAQ Teeters on Bearish Head and
Shoulders Top Completion
This week our trend indicators remained negative and the NASDAQ narrowly missed completing the bearish head and shoulder top we wrote about last week. As the chart shows, the index touched the neckline on Thursday but did not fall through it, which would have completed the bearish pattern. Technology stocks were hurt by fears that China could retaliate against the sector following threats against Huawei. The NASDAQ Lost 2.3%, significantly under performing both the S&P 500 (-1.2%) and the DJI (-0.7%).
I had a question from a subscriber asking why we send out email alerts for long position stocks when our market signals are negative. The answer is that even in a down trend some stocks will make significant breakouts. While the overall number of breakouts was down, there were still several that made gains.
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.|
|NGL||15.10||978,366||NGL Energy Partners LP||Oil & Gas Refining & Marketing||96||14.60|
|VSLR||7.37||1,150,402||Vivint Solar, Inc.||Semiconductor - Specialized||95||6.78|
|GPRO||7.65||6,432,592||GoPro, Inc||Photographic Equipment & Supplies||91||7.20|
|KIM||18.64||5,308,900||Kimco Realty Corporation||REIT - Retail||88||18.18|
|RESI||11.93||641,236||Front Yard Residential Corporation||REIT - Residential||85||11.63|
|NUAN||18.16||2,748,882||Nuance Communications, Inc.||Application Software||81||17.61|
|ARCC||18.07||2,276,854||Ares Capital Corporation||Diversified Investments||80||17.88|
|BSMX||8.74||3,402,813||Banco Santander (México), S.A.||Foreign Regional Banks||80||7.46|
|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
|Photographic Equipment & Supplies
|Photographic Equipment & Supplies
|Music & Video Stores
|Charts of each industry rank and performance over 12 months are available on the site|
If you received this newsletter from a friend and you would like to receive it regularly please go to the BreakoutWatch.com site and you will then be able to register to receive the newsletter.
Copyright (c) 05/25/2019 NBIcharts, LLC dba BreakoutWatch.com. All
" BreakoutWatch," the BreakoutWatch.com "eye" logo, and the slogan "tomorrow's breakouts today" are service marks of NBIcharts LLC. All other marks are the property of their respective owners, and are used for descriptive purposes only.
BreakoutWatch is not affiliated with Investor's Business Daily or with Mr. William O'Neil. Our site, research and analysis is supported entirely by subscription and is free from advertising.