Breakoutwatch Weekly Summary 10/26/19

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Weekly Commentary
Cup and Handle Breakouts Average 9.4% for Week

This week produced some of the strongest breakout performances for some time as generally positive earnings reports sent all three major indexes higher. I'll look at the stronger performers in more detail below.

The NASDAQ Composite on Friday closed just above the previous resistance level as shown by the horizontal line on the chart. the NASDAQ was the best performer of the week with a gain of 1.9%. The NASDAQ is now just 1% below its all time high set July 26.

Best Performing Breakouts

The best performing breakout was MKSI from a cup and handle pattern which closed 13.2% above its breakout price. However, the stock gapped up by 7% at the open and was 8% above BoP by the time we issued an alert. There was no indication in the chart the day before breakout that such a strong breakout could be expected.
MKSI Chart

Contrast that with the next highest performer, PDFS. PDFS had very high volumes in the days before breakout indicating that buyers were flooding into the stock, and we issued an alert when the stock was just 1% above its breakout price. Volume prior to breakout can be an indicator of a strong breakout to come.

PDFS 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 10/21/19
List Breakouts Avg. Gain
CWH 6 9.44
SQZ 3 4.67
DB 1 2.87
Breakouts Detail for Week Beginning 10/21/19
Brkout Date Symbol Base Squeeze Brkout Price Brkout Day Close RS Rank* Last Close Current % off BOP Gain at Intraday High
2019-10-24 MKSI CWH n 97.89 109.49 84 110.78 13.17% 13.28%
2019-10-21 PDFS CWH n 14.36 14.77 93 16.08 11.98% 12.67%
2019-10-24 VC CWH n 86.58 91.05 88 95.26 10.03% 22.42%
2019-10-25 ROCK CWH n 47.23 51.42 85 51.42 8.87% 14.27%
2019-10-21 RDVT CWH n 14.98 15.39 99 16.17 7.94% 10.15%
2019-10-25 ALGT SQZ y 154.39 166.18 86 166.18 7.64% 9%
2019-10-25 POWI SQZ y 88.77 93.18 90 93.18 4.97% 8.81%
2019-10-24 AMAT CWH n 53.25 55.07 90 55.72 4.64% 4.86%
2019-10-24 ONCE DB n 105.96 108.64 97 109 2.87% 6.17%
2019-10-24 PEGI SQZ y 27.36 27.74 94 27.74 1.39% 2.67%
*RS Rank on day before breakout.
Top Rated Cup and Handle Stocks as of Friday October 25, 2019
Symbol BO
Company Industry RS
CORT 15.03 977,442 Corcept Therapeutics Incorporated Biotechnology 90 14.48
ZNGA 6.35 26,681,756 Zynga Inc. Electronic Gaming & Multimedia 88 6.16
PSDO 16.96 1,555,392 Presidio - Inc. Information Technology Services 86 16.72
SONO 15.41 2,265,870 Sonos - Inc. Consumer Electronics 83 12.81
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 26958.1
0.7% 15.56% Up
NASDAQ 8243.12
1.9% 24.23% Up
S&P 500 3022.55
1.22% 20.57% 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
NASDAQ Composite
1.9 %
S&P 500
-0.11 %
S&P 500
2.81 %
NASDAQ Composite
24.23 %
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)
Regional - Northeast Banks
Personal Services
Drug Delivery
Drug Delivery
Charts of each industry rank and performance over 12 months are available on the site


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