Breakoutwatch Weekly Summary 06/26/21

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Weekly Commentary
Breakouts Surge as NASDAQ and S&P 500 make New Highs

The NASDAQ presented what is now a familiar pattern: Buy the Dip but sell when there is a new high. The NASDAQ set a new high on Thursday and early trading on Friday based on overnight orders attempted to go high er but failed and the index sank for the rest of the day as traders took profits leaving the index slightly down on the day on massive volume.

Nevertheless, the index gained 2.4% for the week but lagged the S&P 500 which gained 2.7%. This indicates that the broader market is beating the tech stock focus, and has done since the start of the year.
NASDAQ Chart
I am departing on Monday to resume my normal summer vacation trip to cycling the French Alps and this year including Tuscany. Consequently, newsletter production will cease until I return. The site, of course, will continue to be maintained each day and support question answered.

I wish a healthy, prosperous and safe summer to all.
Chart of the Week
The list of cup and handle stocks that could breakout at the next session is long and is included below. Many of them are showing constructive handle behavior, and I recommend you access the website so you can see the chart patterns of each of them. I've chosen to highlight DenaliTherapeutics, Inc because of their constructive handle, heavy volume on Friday and 12% upside before meeting resistance at the left cup.
DNLI 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 06/21/21
List Breakouts Avg. Gain
CWH 36 2.67
SQZ 63 3.15
HTF 4 10.44
HSB
0
DB 5 4.19
Breakouts Gaining at Least 5% for Week Beginning 06/21/21
Brkout Date Symbol Base Squeeze Brkout Price Brkout Day Close RS Rank* Last Close Current % off BOP Gain at Intraday High
2021-06-21 LPI HTF n 68.31 75.06 98 87.23 27.7% 34.34%
2021-06-21 ROKU SQZ y 368.44 382.73 91 430.94 16.96% 17.24%
2021-06-22 RMCF CWH n 6.90 7.03 84 7.84 13.62% 14.2%
2021-06-23 SUNW SQZ y 9.76 10.42 99 10.96 12.3% 17.32%
2021-06-22 UUU CWH n 8.00 8.86 99 8.94 11.75% 18.62%
2021-06-23 OPRX DB y 56.96 57.43 95 63.33 11.18% 12.18%
2021-06-24 OPRX SQZ y 57.44 61.41 96 63.33 10.25% 11.24%
2021-06-22 UPWK CWH n 51.45 54.41 95 55.98 8.8% 14.56%
2021-06-23 NNDM SQZ y 8.08 8.65 96 8.77 8.54% 12.31%
2021-06-21 ANGO CWH n 25.75 25.85 94 27.9 8.35% 9.9%
2021-06-22 TSLA SQZ y 620.84 623.71 84 671.87 8.22% 12.37%
2021-06-22 LSCC SQZ y 51.76 52.22 83 55.87 7.94% 9.01%
2021-06-21 NTRA CWH n 107.06 109.3 82 115.15 7.56% 14.23%
2021-06-23 GVA SQZ y 39.51 39.79 89 42.45 7.44% 12.15%
2021-06-22 SSTK CWH n 95.83 97.97 88 102.84 7.32% 7.76%
2021-06-23 URBN SQZ y 38.45 40.04 85 41.2 7.15% 9.49%
2021-06-23 OXY CWH n 30.72 30.96 89 32.91 7.13% 7.45%
2021-06-23 VCEL CWH n 62.97 64.79 96 67.4 7.04% 9.46%
2021-06-25 CHS HTF n 6.48 6.93 98 6.93 6.94% 12.5%
2021-06-24 KLIC CWH n 57.48 59.14 91 61.45 6.91% 8.54%
2021-06-23 RILY SQZ y 71.32 71.65 95 76.21 6.86% 7.08%
2021-06-21 AHC HTF n 7.17 7.57 99 7.66 6.83% 7.25%
2021-06-22 LB DB n 67.70 69.09 95 72.27 6.75% 8.2%
2021-06-21 AXGN SQZ y 20.83 21.54 81 22.08 6% 9.55%
2021-06-22 BCYC SQZ y 29.31 29.69 80 31.04 5.9% 8.27%
2021-06-23 MYGN CWH y 30.85 31.57 90 32.61 5.71% 6.09%
2021-06-21 BLBD SQZ y 26.11 26.57 86 27.54 5.48% 7.7%
2021-06-24 LSCC SQZ y 53.03 55.43 84 55.87 5.36% 6.4%
2021-06-21 LIVN SQZ y 82.26 84.07 81 86.59 5.26% 6.21%
2021-06-22 VCTR SQZ y 30.80 31.42 84 32.39 5.16% 6.33%
2021-06-25 VNDA CWH n 19.76 20.78 84 20.78 5.16% 6.33%
*RS Rank on day before breakout.
CwH Stocks Likely to Close above BoP at Next Session*
Symbol Company Industry RS Rank Last Close BoP % off BoP
DMTK DermTech, Inc. Diagnostics & Research 95 45.99 47.40 97.03
NTLA Intellia Therapeutics, Inc. Biotechnology 96 88.83 89.71 99.02
DNLI Denali Therapeutics Inc. Biotechnology 89 74.68 76.92 97.09
LPG Dorian LPG Ltd. Oil & Gas Midstream 82 15.08 15.26 98.82
EPR EPR Properties REIT - Retail 83 53.81 54.38 98.95
CASA Casa Systems, Inc. Communication Equipment 88 9.41 9.75 96.51
PBI Pitney Bowes Inc. Business Equipment & Supplies 91 9 9.35 96.26
MCS Marcus Corporation (The) Entertainment 90 22.3 22.87 97.51
FRBA First Bank Banks - Regional 87 14.09 14.33 98.33
ARWR Arrowhead Pharmaceuticals, Inc. Biotechnology 86 90.32 93.66 96.43
BSIG BrightSphere Investment Group Inc. Asset Management 86 23.93 24.25 98.68
RHP Ryman Hospitality Properties, Inc. REIT - Hotel & Motel 87 83.77 84.58 99.04
GTYH GTY Technology Holdings, Inc. Software - Application 88 7.14 7.74 92.25
SBNY Signature Bank Banks - Regional 93 256.44 264.00 97.14
FET Forum Energy Technologies, Inc. Oil & Gas Equipment & Services 91 24.99 25.36 98.54
LYV Live Nation Entertainment, Inc. Entertainment 80 92.6 94.00 98.51
M Macy's Inc Department Stores 94 19.62 20.38 96.27
CVEO Civeo Corporation (Canada) Specialty Business Services 87 18.06 18.48 97.73
GWB Great Western Bancorp, Inc. Banks - Regional 92 34.71 35.18 98.66
MEDP Medpace Holdings, Inc. Diagnostics & Research 80 180.26 183.72 98.12
ONTO Onto Innovation Inc. Semiconductor Equipment & Materials 89 72.12 75.61 95.38
IMAX Imax Corporation Entertainment 83 22.77 23.54 96.73
PCB PCB Bancorp Banks - Regional 80 15.96 16.83 94.83
EGBN Eagle Bancorp, Inc. Banks - Regional 84 57.13 58.80 97.16
RDI Reading International Inc Entertainment 82 6.87 6.95 98.85
RH RH Specialty Retail 90 690.72 719.77 95.96
COHR Coherent, Inc. Scientific & Technical Instruments 88 263.89 269.98 97.74
USCR U S Concrete, Inc. Building Materials 94 73.7 75.47 97.65
SWTX SpringWorks Therapeutics, Inc. Biotechnology 81 84.89 86.56 98.07
VNOM Viper Energy Partners LP Oil & Gas Midstream 89 19.31 20.09 96.12
FFBC First Financial Bancorp. Banks - Regional 84 24.9 26.22 94.97
ERII Energy Recovery, Inc. Pollution & Treatment Controls 91 21.22 21.86 97.07
CPLG CorePoint Lodging Inc. REIT - Hotel & Motel 88 10.21 10.70 95.42
SITC SITE Centers Corp. REIT - Retail 86 15.02 15.91 94.41
HTH Hilltop Holdings Inc. Banks - Regional 82 37.31 39.14 95.32
ZLAB Zai Lab Limited Biotechnology 88 173.71 181.92 95.49
*These stocks were selected using our price breakout model. This model correctly selected CWH stocks that met or exceeded their breakout price with 80% probability over Jan. 2019 to Nov. 2020. This does not imply that on any one day, 80% or any of the stocks selected will meet or exceed their breakout price.
Major Index Summary
Index Value Change Week Change YTD Trend1
Dow 34433.8
3.44% 12.5% Down
NASDAQ 14360.4
2.35% 11.42% Up
S&P 500 4280.7
2.74% 13.97% 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 NASDAQ Composite
7.7
S&P 500
14.6
S&P 500
13.97
Best Performing Industry
1 Week 3 Weeks 13 Weeks 26 Weeks
Uranium
Industrial Distribution
Uranium
Shell Companies
Most Improved Industry (by change in technical rank2)
Consumer Electronics
66
Building Materials
80
REIT - Specialty
113
Oil & Gas Drilling
127
Charts of each industry rank and performance over 12 months are available on the site

 

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