Breakoutwatch Weekly Summary 11/16/19

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Weekly Commentary
New Highs for Major Indexes; Breakout Count Jumps to 18; Volatility Squeeze Analysis

If it's Friday, then there must be an announcement that a trade agreement with China is close to being reached, and the market will react with a move higher. In this case, it was to set a new record for the NASDAQ, DJI and S&P 500. Friday's advance came after a week in which there was only sideways movement and even after Friday's jump, the NASDAQ gained only 0.8%, lagging the DJI (1.2%) and the S&P 500 (0.9%).
NASDAQ Chart

The number of breakouts jumped to 18 after just 4 last week. The Volatility Squeeze pattern produced 10 breakouts with an average gain of 3% and the Cup and Handle pattern produced 8 breakouts with an average gain of just 1.5%.

While INFN was the best performing SQZ breakout, the second best, CORT, showed an interesting pattern. The day before the SQZ breakout, it had broken out of a cup and handle pattern with a short cup, 22 days, less than the required 30 for consideration as a true cup and handle. The SQZ breakout followed the next day. Note the well above average and accelerating momentum as the squeeze progressed.

CORT SQZ Breakout

New Features this Week

No new features this week
Strategy Suggestions
Our latest strategy suggestions are here.
Breakouts Summary by Watchlist for Week Beginning 11/11/19
List Breakouts Avg. Gain
CWH 8 1.5
SQZ 10 3.03
HTF
0
HSB
0
DB
0
Breakouts Detail for Week Beginning 11/11/19
Brkout Date Symbol Base Squeeze Brkout Price Brkout Day Close RS Rank* Last Close Current % off BOP Gain at Intraday High
2019-11-14 INFN SQZ y 6.01 6.36 95 6.71 11.65% 12.31%
2019-11-11 CORT SQZ y 15.02 15.93 88 16.44 9.45% 10.85%
2019-11-12 CRSP CWH n 52.28 53.58 90 56.87 8.78% 9.79%
2019-11-12 TTD SQZ y 217.02 223.85 85 229.15 5.59% 7.54%
2019-11-15 AUDC CWH n 22.20 23.42 97 23.42 5.5% 7.88%
2019-11-11 AY SQZ y 24.54 24.7 88 25.79 5.09% 5.18%
2019-11-12 DRNA CWH n 18.39 19.46 96 19.3 4.95% 13.59%
2019-11-12 WSC SQZ y 16.64 16.67 87 17.43 4.75% 4.75%
2019-11-12 APPS CWH n 7.78 8.29 99 7.96 2.31% 9.38%
2019-11-12 FWONK SQZ y 42.62 43.15 83 43.57 2.23% 3.4%
2019-11-14 GDS CWH n 44.27 44.54 92 44.35 0.18% 2.1%
2019-11-12 ABDC SQZ y 9.00 9.02 89 9 0% 0.44%
2019-11-11 TIPT SQZ y 7.69 7.84 91 7.62 -0.91% 4.55%
2019-11-12 MRVL CWH n 27.47 28.07 91 26.86 -2.22% 3.29%
2019-11-12 HLIT CWH n 8.11 8.23 92 7.9 -2.59% 3.21%
2019-11-12 TIPT SQZ y 7.85 7.93 92 7.62 -2.93% 2.42%
2019-11-11 NXST SQZ y 105.96 108.3 80 101.03 -4.65% 2.86%
2019-11-12 PI CWH n 35.99 36.25 93 34.23 -4.89% 5.45%
*RS Rank on day before breakout.
Top Rated Cup and Handle Stocks as of Friday November 15, 2019
Symbol BO
Price
BO
Vol.
Company Industry RS
Rank
Last
Close
RUHN 7.46 816,724 Ruhnn Holding Limited - American Depositary Shares Specialty Retail 95 6.75
COLL 19.99 670,239 Collegium Pharmaceutical - Inc. Drug Manufacturers - Specialty & Generic 94 18.12
FLEX 12.38 7,601,637 Flex Ltd. - Ordinary Shares Contract Manufacturers 89 12.18
MNTA 16.89 689,096 Momenta Pharmaceuticals - Inc. Drug Manufacturers - Specialty & Generic 88 16.03
FLXN 17.82 882,300 Flexion Therapeutics - Inc. Drug Manufacturers - Specialty & Generic 88 16.09
ZNGA 6.47 25,444,982 Zynga Inc. - Class A Common Stock Electronic Gaming & Multimedia 88 6.28
SONO 15.21 1,883,814 Sonos - Inc. Consumer Electronics 87 14.50
TILE 17.43 533,244 Interface - Inc. Textile Manufacturing 84 16.37
QNST 15.62 921,177 QuinStreet - Inc. Internet Content & Information 82 15.20
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 28004.9
1.17% 20.05% Up
NASDAQ 8540.83
0.77% 28.72% Up
S&P 500 3120.46
0.89% 24.48% 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
1.17 %
Dow Jones
8.17 %
NASDAQ Composite
9.27 %
NASDAQ Composite
28.72 %
Best Performing Industry
1 Week 3 Weeks 13 Weeks 26 Weeks
Electric Utilities
Electric Utilities
Water Utilities
Insurance Brokers
Most Improved Industry (by change in technical rank2)
Home Improvement Stores
143
Home Improvement Stores
143
Movie Production - Theaters
194
Drug Delivery
179
Charts of each industry rank and performance over 12 months are available on the site

 

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