Breakoutwatch Weekly Summary 10/10/20

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Weekly Commentary
Breakouts Average 6.9% as Trend Indicators Turn Positive

Our market trend indicators for the three major indexes all turned positive after Monday's session. This proved quite providential as the NASDAQ Composite gained 4.6% this week. Technology stocks re-assumed a leadership role but investors also saw future value in small cap/value/cyclical stocks and pushed the Russel 2000 higher by 6.4%. The DJI and S&P 500 lagged by 3.3% and 3.8% respectively.

Earnings season is ahead and there will likely be many upside surprises as expectations are low. This will likely improve optimism for 2021 and the markets should respond positively. On the other hand, the potential for uncertainty about the election outcome, that could last for several weeks, will depress markets until there sis a resolution the country can accept.
NASDAQ Chart
There were 19 confirmed breakouts this week delivering an average return of 6.9% above their breakout price. Volatility Squeeze (SQZ) breakouts dominated in quantity and didn't disappoint in outcomes. This Friday, there were twice as many on the SQZ list as the previous Friday, so they will probably dominate again in the coming week.
Chart of the Week
When it became known last weekend that the The President was given Regeneron, the stock broke out from a SQZ pattern on Monday. Since then, the stock moved sideways and was still left in a SQZ pattern on Friday. Now that The President is apparently Covid-19 free, we may see renewed interest on Monday and a further breakout.

RGEN 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 10/05/20
List Breakouts Avg. Gain %
CWH 6 6.06
SQZ 10 6.08
HTF 1 12.49
HSB
0
DB 2 10.37
Total 19 6.9
Breakouts Detail for Week Beginning 10/05/20
Brkout Date Symbol Base Squeeze Brkout Price Brkout Day Close RS Rank* Last Close Current % off BOP Gain at Intraday High
2020-10-06 QTRX SQZ y 35.36 36.9 87 46.15 30.51% 38.43%
2020-10-07 QTRX SQZ y 36.91 43.38 90 46.15 25.03% 32.62%
2020-10-06 BE CWH n 18.72 19.53 96 22.92 22.44% 24.89%
2020-10-09 NIU CWH n 23.83 27.05 95 27.05 13.51% 13.72%
2020-10-05 OCN HTF n 24.09 24.61 99 27.1 12.49% 15.01%
2020-10-07 CRSP SQZ y 87.73 97.68 90 98.26 12% 14.99%
2020-10-05 RGEN DB y 152.77 159.8 91 170.5 11.61% 12.58%
2020-10-05 APPF SQZ y 147.57 154.34 80 164.31 11.34% 11.53%
2020-10-06 NEP DB y 61.64 62.75 73 67.27 9.13% 10.95%
2020-10-08 CARV SQZ y 6.60 7.53 95 7.06 6.97% 40.15%
2020-10-05 TITN SQZ y 14.32 14.95 80 15.22 6.28% 7.4%
2020-10-05 SQM CWH n 34.92 35.46 81 35.54 1.78% 4.27%
2020-10-08 REGN SQZ y 591.70 599.88 81 602.07 1.75% 3.94%
2020-10-05 FFG SQZ y 49.96 50.88 84 50.82 1.72% 2.5%
2020-10-08 MWK SQZ y 8.75 8.93 96 8.89 1.6% 6.7%
2020-10-08 BCLI CWH n 17.39 17.73 97 17.55 0.92% 3.22%
2020-10-05 MOBL CWH n 7.06 7.08 88 7.03 -0.42% 0.42%
2020-10-05 SCPL CWH n 16.98 17.31 83 16.66 -1.88% 8.95%
2020-10-05 CYTK SQZ y 24.00 28.61 93 15.26 -36.42% 25.58%
*RS Rank on day before breakout.
Top Rated Cup and Handle Stocks as of Friday October 09, 2020
Symbol BO
Price
BO
Vol.
Company Industry RS
Rank
Last
Close
BLNK 11.55 10,435,527 Blink Charging Co. Specialty Retail 98 9.76
FSK 16.70 840,222 FS KKR Capital Corp. Asset Management 97 16.21
ISEE 6.38 1,277,628 IVERIC bio - Inc. Biotechnology 96 6.13
GPRE 16.70 779,548 Green Plains - Inc. Specialty Chemicals 94 16.29
SOGO 8.94 2,328,930 Sogou Inc. Internet Content & Information 93 8.88
IDT 11.86 529,628 IDT Corporation Class B Telecom Services 92 11.02
CBB 15.22 620,830 Cinci Telecom Services 91 15.07
ALDX 7.79 967,395 Aldeyra Therapeutics - Inc. Biotechnology 91 7.05
TACO 9.63 721,950 Del Taco Restaurants - Inc. Restaurants 87 9.42
HBI 17.33 7,895,718 Hanesbrands Inc. Apparel Manufacturing 87 17.21
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 28586.9
3.27% 0.17% Up
NASDAQ 11579.9
4.56% 29.06% Up
S&P 500 3477.13
3.84% 7.63% 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
NASDAQ Composite Dow Jones
9.07
NASDAQ Composite
41.35
NASDAQ Composite
29.06
Best Performing Industry
1 Week 3 Weeks 13 Weeks 26 Weeks
Solar
Silver
Shell Companies

Most Improved Industry (by change in technical rank2)
Personal Services
40
Coking Coal
86
Coking Coal
114
Copper
134
Charts of each industry rank and performance over 12 months are available on the site

 

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