Breakoutwatch Weekly Summary 11/09/19
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|NASDAQ Sets Another New High.
Breakouts Average a 7% Gain
Market optimism that a trade deal with China may finally be in the works allowed the major indexes to set further new highs this week. The NASDAQ rose 1.1% lagging the DJI which added 1.2%. The S&P 500 closed 0.85% higher.
Volumes were consistently above the 50 day average indicating considerable investor interest in pursuing this rising market.
Despite higher volumes, there were just 4 stocks that met our breakout criteria and all came from the cup and handle pattern. Qualcomm (QCOM) was the leading performer with a 9.5% gain over its breakout price. The stock gapped up at Thursday's open and we issued an alert at 9:33 am when it was still just below the suggested 5% ceiling for buying on alert.
An easier stock to grab hold of was Cutera, Inc. (CUTR) which opened only just above its breakout price and peaked with a 15% gain before closing 7.4% above BoP.
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.|
|FLXN||17.82||934,950||Flexion Therapeutics - Inc.||Drug Manufacturers - Specialty & Generic||95||16.43|
|AFIN||15.08||1,342,160||American Finance Trust - Inc. - Class A Common Stoc||REIT - Diversified||94||14.77|
|RMBS||14.83||1,003,738||Rambus - Inc.||Semiconductor Memory||92||13.91|
|COHU||19.90||534,759||Cohu - Inc.||Semiconductor Equipment & Materials||90||19.71|
|VRRM||15.36||1,767,038||Verra Mobility Corporation - Class A Common Stock||Security & Protection Services||88||14.79|
|ZNGA||6.47||27,644,950||Zynga Inc. - Class A Common Stock||Electronic Gaming & Multimedia||87||6.28|
|FLEX||12.38||7,750,221||Flex Ltd. - Ordinary Shares||Contract Manufacturers||86||11.84|
|TILE||17.43||563,427||Interface - Inc.||Textile Manufacturing||86||16.95|
|PSDO||16.96||1,471,779||Presidio - Inc.||Information Technology Services||85||16.58|
|ASUR||9.33||648,840||Asure Software Inc||Software - Application||85||9.17|
|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|
|Regional - Northeast Banks
|Drug Related Products
|Drugs - Generic
|Charts of each industry rank and performance over 12 months are available on the site|
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