Breakoutwatch Weekly Summary 09/26/20

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Weekly Commentary
NASDAQ Gains for the Week but Trend Indicators Still Negative

The NASDAQ gained 1.1% over last Friday's close but the trend is flat and volumes below average. The S&P 500 and DJI were both in the red with losses of 0.6% and 1.8%, respectively. All three indexes made gains on Friday despite a slight uptick in jobless claims on Friday. The mega cap technology stocks led the gains but there was no specifically identified reason why. Traders may have taken upwardly revised durable goods orders for July as an indication the economy is strengthening. And of course, the Fed has promised near zero interest rates for the foreseeable future.

The Volatility Squeeze pattern again delivered the most breakouts but it was last weeks chart of the week (ZM) which delivered the best return from its High Tight Flag pattern.

Did you know you can use breakoutwatch on your mobile phone? I've been laboring for a few months to improve rendering on phones and its getting quite useful. Give it a try. Instructions are here.
Chart of the Week
For the chart of the week, I again turn to the High Tight Flag pattern and select New Fortress Energy Inc.  (NFE). Since forming the handle the chart shows initial profit taking but a steady rise since then on heavy volume.

NFE 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 09/21/20
List Breakouts Avg. Gain
CWH 3 -1.96
SQZ 7 3.07
HTF 1 3.87
DB 1 2.54
Breakouts Detail for Week Beginning 09/21/20
Brkout Date Symbol Base Squeeze Brkout Price Brkout Day Close RS Rank* Last Close Current % off BOP Gain at Intraday High
2020-09-24 ATEC SQZ y 6.20 6.55 87 6.94 11.94% 12.54%
2020-09-23 LIQT SQZ y 7.34 7.64 85 7.88 7.36% 8.58%
2020-09-21 GH CWH n 105.00 106.67 82 111.8 6.48% 7.5%
2020-09-25 GDEN SQZ y 13.19 14.01 83 14.01 6.22% 7.58%
2020-09-25 ATEC SQZ y 6.56 6.94 88 6.94 5.79% 6.36%
2020-09-22 ZM HTF n 478.00 492.6 99 496.5 3.87% 10.82%
2020-09-25 ASND DB y 150.21 154.03 74 154.03 2.54% 2.68%
2020-09-21 SEED SQZ y 9.69 10.7 91 9.93 2.48% 11.76%
2020-09-23 JELD SQZ y 20.93 21.62 85 21.17 1.15% 4.63%
2020-09-23 TWTR CWH n 44.09 45.33 82 43.84 -0.57% 6.19%
2020-09-22 SFIX CWH n 29.75 31.38 85 26.24 -11.8% 6.22%
2020-09-23 ESCA SQZ y 19.70 20.17 95 17.05 -13.45% 7.06%
*RS Rank on day before breakout.
Top Rated Cup and Handle Stocks as of Friday September 25, 2020
Symbol BO
Company Industry RS
CLDX 13.43 886,614 Celldex Therapeutics - Inc. Biotechnology 99 12.80
BCLI 15.21 735,466 Brainstorm Cell Therapeutics Inc. Biotechnology 97 14.95
SURF 7.75 1,281,874 Surface Oncology - Inc. Biotechnology 97 6.31
NG 12.07 2,965,782 Novagold Resources Inc. Gold 88 11.34
CBB 15.22 538,202 Cinci Telecom Services 87 15.00
SCPL 16.98 1,256,300 SciPlay Corporation Electronic Gaming & Multimedia 86 15.90
UNIT 10.50 2,164,030 Uniti Group Inc. REIT - Industrial 81 9.81
BCOV 13.36 657,412 Brightcove Inc. Software - Application 80 9.94
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 27174
-1.75% -4.78% Down
NASDAQ 10913.6
1.11% 21.63% Down
S&P 500 3298.46
-0.63% 2.09% Down
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 NASDAQ Composite
NASDAQ Composite
NASDAQ Composite
Best Performing Industry
1 Week 3 Weeks 13 Weeks 26 Weeks
Shell Companies

Most Improved Industry (by change in technical rank2)
Coking Coal
Coking Coal
Charts of each industry rank and performance over 12 months are available on the site


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