Breakoutwatch Weekly Summary 10/19/19

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Weekly Commentary
Trend Signals are Up; NASDAQ Bearish Double Top Canceled; New Industry Rankings

Our trend signals returned to pointing upwards on Tuesday and the NASDAQ closed above the bearish double top confirmation level effectively canceling that bearish signal. The resurgence this week was mostly due to a positive start to the 3rd quarter earnings reports with Healthcare, Financials and Real Estate sectors leading the way higher and a rising tide lifting all boats. Notably volumes were below the 50 day average indicating some doubts remain, particularly relating to China's drop in GDP, unresolved trade deals, threats of higher tariffs, escalating tensions in the middle east,Brexit, the Fed's interest rate direction, impeachment. In short, there is plenty to worry about.

The week's action produced an uptick in the number of breakouts with most coming from the Volatility Squeeze pattern than any other with an average gain of a very healthy 5.34%.

NASDAQ Chart

New Features this Week

Last week I introduced a new Industry Browser page and for this week I've concentrated on improving the industry rankings page. Check it out under the Evaluate > Industry Analysis > Industry Rankings menu choice.
Strategy Suggestions
Our latest strategy suggestions are here.
Breakouts Summary by Watchlist for Week Beginning 10/14/19
List Breakouts Avg. Gain
CWH 2 -1.03
SQZ 9 5.34
HTF
0
HSB
0
DB
0
Breakouts Detail for Week Beginning 10/14/19
Brkout Date Symbol Base Squeeze Brkout Price Brkout Day Close RS Rank* Last Close Current % off BOP Gain at Intraday High
2019-10-17 MTEM SQZ y 7.27 7.39 88 7.86 8.12% 8.67%
2019-10-15 DOOO SQZ y 39.57 40 82 42.72 7.96% 9.05%
2019-10-18 MTEM SQZ y 7.40 7.86 91 7.86 6.22% 6.76%
2019-10-15 APLS SQZ y 26.39 26.48 95 27.83 5.46% 9.02%
2019-10-17 TCDA SQZ y 33.60 34.93 80 35.4 5.36% 5.83%
2019-10-16 APLS SQZ y 26.49 28.16 96 27.83 5.06% 8.61%
2019-10-17 PDFS SQZ y 13.59 13.73 92 14.2 4.49% 5.08%
2019-10-18 PDFS SQZ y 13.74 14.2 91 14.2 3.35% 3.71%
2019-10-15 SPAR SQZ y 13.99 14.78 97 14.28 2.07% 7.22%
2019-10-17 IPHS CWH n 35.20 35.38 87 35.35 0.43% 6.62%
2019-10-15 HZNP CWH n 28.10 28.2 90 27.4 -2.49% 4.23%
*RS Rank on day before breakout.
Top Rated Cup and Handle Stocks as of Friday October 18, 2019
Symbol BO
Price
BO
Vol.
Company Industry RS
Rank
Last
Close
ALDR 18.99 5,410,239 Alder BioPharmaceuticals - Inc. Biotechnology 98 18.92
AKTS 8.77 687,108 Akoustis Technologies - Inc. Communication Equipment 96 8.17
SPWH 6.42 892,848 Sportsman's Warehouse Holdings, Inc. General Entertainment 94 6.26
VRRM 15.10 1,378,640 Verra Mobility Corporation - Class A Common Stock Security & Protection Services 88 14.30
PSDO 16.96 2,078,738 Presidio - Inc. Information Technology 87 16.72
FLXN 15.67 874,695 Flexion Therapeutics - Inc. Drug Manufacturers - Other 83 14.24
SONO 15.41 2,332,048 Sonos - Inc. Electronic Equipment 82 13.24
CORT 15.03 998,648 Corcept Therapeutics Incorporated Biotechnology 81 13.71
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 26770.2
-0.17% 14.76% Up
NASDAQ 8089.54
0.4% 21.92% Up
S&P 500 2986.2
0.54% 19.12% 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
S&P 500 S&P 500
0.32 %
S&P 500
2.69 %
NASDAQ Composite
21.92 %
Best Performing Industry
1 Week 3 Weeks 13 Weeks 26 Weeks
Water Utilities
Water Utilities
Auto Dealerships
Insurance Brokers
Most Improved Industry (by change in technical rank2)
Electronics Stores
42
Medical Practitioners
211
Drug Delivery
209
Drug Delivery
208
Charts of each industry rank and performance over 12 months are available on the site

 

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