Breakoutwatch Weekly Summary 11/09/19

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Weekly Commentary
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.

New Features this Week

No new features this week
Strategy Suggestions
Our latest strategy suggestions are here.
Breakouts Summary by Watchlist for Week Beginning 11/04/19
List Breakouts Avg. Gain
CWH 4 6.94
Breakouts Detail for Week Beginning 11/04/19
Brkout Date Symbol Base Squeeze Brkout Price Brkout Day Close RS Rank* Last Close Current % off BOP Gain at Intraday High
2019-11-07 QCOM CWH n 85.87 89.98 93 94.03 9.5% 9.59%
2019-11-08 CUTR CWH n 33.74 36.28 98 36.28 7.53% 15.23%
2019-11-07 NMIH CWH n 30.64 32 85 32.91 7.41% 9.46%
2019-11-08 PRAA CWH n 35.60 36.78 84 36.78 3.31% 4.09%
*RS Rank on day before breakout.
Top Rated Cup and Handle Stocks as of Friday November 08, 2019
Symbol BO
Company Industry RS
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
Major Index Summary
Index Value Change Week Change YTD Trend1
Dow 27681.2
1.22% 18.66% Up
NASDAQ 8475.31
1.06% 27.73% Up
S&P 500 3093.08
0.85% 23.39% 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
Dow Jones
1.22 %
NASDAQ Composite
5.98 %
S&P 500
7.35 %
NASDAQ Composite
27.73 %
Best Performing Industry
1 Week 3 Weeks 13 Weeks 26 Weeks
Water Utilities
Water Utilities
Electric Utilities
Insurance Brokers
Most Improved Industry (by change in technical rank2)
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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