Breakoutwatch Weekly Summary 06/01/19

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.

Weekly Commentary
Bearish HST Confirmed; Recession Fears Increase. 

The NASDAQ Composite closed below the neckline of a head and shoulders top pattern on Wednesday confirming the completion of the bearish pattern. On Friday, the index closed below the 200 day support level and is now down 9% from its April 29 high.

Friday's result came after the surprise announcement of 5% tariffs on imports from Mexico, which if implemented on June 10, and later increased to 25% on October 1 could have a devastating effect on the economies of both countries. This came after trade negotiations with China continue to be stalled and the impasse threatened to worsen as China put U.S. soybean purchases on hold and threatened to limit exports of rare earth minerals, in which it holds a dominant position. All sectors declined this week as investors sought the safety of U.S. Treasuries.

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 05/27/19
List Breakouts Avg. Gain
CWH 3 -0.7
SQZ 6 -0.18
HTF
0
HSB
0
DB
0

Breakdown Detail by Watchlist for Week Beginning 05/27/19
List Breakdowns Avg. Gain
HST 0

50 DMA Breakdown 6 1.93

Breakouts Detail for Week Beginning 05/27/19
Brkout Date Symbol Base Squeeze Brkout Price Brkout Day Close RS Rank* Last Close Current % off BOP Gain at Intraday High
2019-05-29 TBIO SQZ y 9.97 10.15 81 10.48 5.12% 15.35%
2019-05-29 CHMA CWH y 7.00 7.48 99 7.1 1.43% 10.57%
2019-05-31 PTY SQZ y 18.16 18.25 84 18.25 0.5% 1.54%
2019-05-28 CHTR SQZ y 375.01 377 91 376.8 0.48% 1.33%
2019-05-31 CCI CWH y 129.66 130.01 87 130.01 0.27% 1.73%
2019-05-31 TRCO SQZ y 46.19 46.3 88 46.3 0.24% 0.37%
2019-05-31 BRSS SQZ y 43.53 43.63 95 43.63 0.23% 0.32%
2019-05-28 FATE CWH n 20.04 20.25 97 19.28 -3.79% 3.04%
2019-05-28 CHEF SQZ y 34.30 34.56 80 31.67 -7.67% 1.28%
*RS Rank on day before breakout.
Breakdown Detail for Week Beginning 05/27/19
Brkdown Date Symbol List Support Close Gain %
05/28/2019 ATO SS 101.57 101.51 0.06 %
05/28/2019 KIM SS 17.93 17.78 0.84 %
05/29/2019 MOBL SS 5.62 5.61 0.18 %
05/29/2019 KIM SS 17.94 17.3 3.57 %
05/30/2019 PFGC SS 39.85 39.55 0.75 %
05/31/2019 VZ SS 57.94 54.35 6.2 %
Top Rated Cup and Handle Stocks as of Friday May 31, 2019
Symbol BO
Price
BO
Vol.
Company Industry RS
Rank
Last
Close
VSLR 7.37 1,129,650 Vivint Solar - Inc. Semiconductor - Specialized 95 6.52
CECO 19.87 899,922 Career Education Corporation Education & Training Services 92 18.77
BSMX 8.74 3,626,286 Banco Santander Foreign Regional Banks 87 7.32
RESI 11.93 607,635 Front Yard Residential Corporation REIT - Residential 85 11.44
WSC 14.66 789,954 WillScot Corporation Rental & Leasing Services 83 13.58
DOC 19.07 1,771,420 Physicians Realty Trust REIT - Healthcare Facilities 83 18.31
NUAN 18.16 2,559,267 Nuance Communications - Inc. Application Software 81 17.17
GPRO 7.65 6,540,825 GoPro - Inc. Photographic Equipment & Supplies 81 6.30
KIM 18.64 5,396,079 Kimco Realty Corporation REIT - Retail 80 17.40
ADTN 17.81 633,448 ADTRAN - Inc. Communication Equipment 80 15.68
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 24815
-3.01% 6.38% Down
NASDAQ 7453.15
-2.41% 12.33% Down
S&P 500 2752.06
-2.62% 9.78% Down
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 S&P 500
-1.87 %
NASDAQ Composite
1.67 %
NASDAQ Composite
12.33 %
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)
Education & Training Services
41
Photographic Equipment & Supplies
91
Photographic Equipment & Supplies
186
Music & Video Stores
203
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) 06/01/2019 NBIcharts, LLC dba BreakoutWatch.com. All rights reserved.
" 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.