Breakoutwatch Weekly Summary 11/09/19
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.
| 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.
|
| List | Breakouts | Avg. Gain |
|---|---|---|
| CWH | 4 | 6.94 |
| SQZ | 0 | |
| HTF | 0 | |
| HSB | 0 | |
| DB | 0 |
| 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. | |||||||||
| Symbol | BO Price |
BO Vol. |
Company | Industry | RS Rank |
Last Close |
|---|---|---|---|---|---|---|
| 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 |
|---|---|---|---|---|
| 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. |
||||
| 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 % |
| 1 Week | 3 Weeks | 13 Weeks | 26 Weeks |
|---|---|---|---|
| Water Utilities |
Water Utilities |
Electric Utilities |
Insurance Brokers |
| Cement 68 |
Regional - Northeast Banks 62 |
Drug Related Products 176 |
Drugs - Generic 181 |
| Charts of each industry rank and performance over 12 months are available on the site | |||
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