Breakoutwatch Weekly Summary 02/12/22

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Weekly Commentary
Bearish Double Top Bodes Ill for Major Indexes

All three major indexes completed a bearish Double Top formation on Friday when they closed below the support level defined by the lowest price between the two tops.  Friday's nadir was prompted by a sobering briefing by National Security Advisor Jake Sullivan warning that Russian invasion of Ukraine could begin at anytime. The markets were already in decline in response to an increase in inflation reported on Wednesday and anticipation of 1% rise in interest rates by July 1.

As for the week's breakouts,rising optimism early in the week brought a total of 72 but gains were severely reduced by the reaction to the rise in inflation and fears of war.
Chart of the Week
Following on with my search to find beaten down stocks that are recovering, I'm pleased to say that HRB has gained 9.8% since it appeared in this section 2 weeks ago and last weeks selection BILL, gained 2.2% after a mid-week gain of 13%. This weeks choice is Great Panther Mining which broke above its upper Average True Range boundary on Friday with strong volume and high Average Directional indicator indicating a strong upward trend.

GPL 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 02/07/22
List Breakouts Avg. Gain
CWH 21 0.95
SQZ 51 0.22
Breakouts Gaining at Least 5% for Week Beginning 02/07/22
Brkout Date Symbol Base Squeeze Brkout Price Brkout Day Close RS Rank* Last Close Current % off BOP Gain at Intraday High
2022-02-07 NGVC CWH y 15.34 16.11 89 18.52 20.73% 22.1%
2022-02-07 EVRI SQZ y 20.40 21.22 80 22.44 10% 16.13%
2022-02-10 PUMP CWH n 11.53 11.76 92 12.55 8.85% 10.54%
2022-02-10 LPI SQZ y 68.21 68.48 97 73.95 8.42% 9.9%
2022-02-07 BRT SQZ y 20.77 21.16 91 22.5 8.33% 8.62%
2022-02-10 CRC SQZ y 40.66 41.38 95 43.18 6.2% 6.47%
2022-02-09 BAP SQZ y 145.30 150.8 91 153.82 5.86% 9.11%
2022-02-08 EVRI SQZ y 21.23 21.97 83 22.44 5.7% 11.59%
*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
MSBI Midland States Bancorp, Inc. Banks - Regional 93 29.9 30.58 97.78
CVI CVR Energy Inc. Oil & Gas Refining & Marketing 96 22.16 22.99 96.39
ESGR Enstar Group Limited Insurance - Diversified 89 266.22 270.10 98.56
RMBI Richmond Mutual Bancorporation, Inc. Banks - Regional 89 16.57 16.68 99.34
THFF First Financial Corporation Indiana Banks - Regional 84 45.99 46.23 99.48
AE Adams Resources & Energy, Inc. Oil & Gas Integrated 88 31.39 32.67 96.08
*These stocks were selected using our CWH price breakout model. This model selects stocks likely to close above the breakout price at the next session. When backtested over the three years beginning January 2019 until October 28, 2021, 80% of the stocks selected closed above their breakout price. This does not mean that on any day, 80% of the stocks selected will breakout, but it is the expectation over an extended period of time.

Symbol BO
Company Industry RS
WTTR 7.71 636,085 Select Energy Services - Inc. Oil & Gas Equipment & Services 94 7.45
SXC 7.90 1,033,588 SunCoke Energy - Inc. Coking Coal 90 7.70
BSM 12.39 560,381 Black Stone Minerals - L.P. Oil & Gas E&P 87 12.05
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 34738.1
-1% -4.4% Down
NASDAQ 13791.2
-2.18% -11.85% Down
S&P 500 4418.64
-1.82% -7.29% 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
Dow Jones Dow Jones
S&P 500
Dow Jones
Best Performing Industry
1 Week 3 Weeks 13 Weeks 26 Weeks
Oil & Gas Integrated
REIT - Residential
Thermal Coal
Most Improved Industry (by change in technical rank2)
Aerospace & Defense
Aerospace & Defense
Aerospace & Defense
Aerospace & Defense
Charts of each industry rank and performance over 12 months are available on the site


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