Breakoutwatch Weekly Summary 03/19/22

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Weekly Commentary
NASDAQ Follow Through Day; 80 Breakouts Exceed 5% Gain

Friday's 2% gain by the NASDAQ on well above average volume qualifies as a 'follow through day' following the low set on March 14. Friday was the 4th day after the March 14 bottom, it closed higher than the previous day and did so on higher volume, meeting the O'Neil criteria. This was not enough to change our market trend algorithm, which is still negative for all three major indexes, although another positive day could swing the trend(s) into a positive direction. For the week, the NASDAQ gained 8.2%.
This was also a very strong week for breakouts with 80 watchlist stocks exceeding a 5% gain.
Chart of the Week
Apple (AAPL) met our criteria for an Average True Range Breakout on Friday. AAPL was the best performing mega cap tech stock on Friday, and played a major role in moving the NASDAQ higher. If the tech stock rally continues, AAPL will likely continue to be the mega cap leader.


New Features this Week

No new features this week
Strategy Suggestions
Our latest strategy suggestions are here.
Breakouts Summary by Watchlist for Week Beginning 03/14/22
List Breakouts Avg. Gain
CWH 13 2.33
SQZ 67 2.28
Breakouts Gaining at Least 5% for Week Beginning 03/14/22
Brkout Date Symbol Base Squeeze Brkout Price Brkout Day Close RS Rank* Last Close Current % off BOP Gain at Intraday High
2022-03-17 LMST SQZ y 19.23 20.67 86 21.49 11.75% 12.09%
2022-03-14 MKL SQZ y 1301.67 1355.51 86 1429 9.78% 9.87%
2022-03-16 FGBI CWH y 22.31 22.51 88 24.35 9.14% 12.28%
2022-03-17 CIX SQZ y 22.17 22.99 86 24 8.25% 8.25%
2022-03-17 FGBI SQZ y 22.52 23.43 88 24.35 8.13% 11.23%
2022-03-14 REGN SQZ y 642.59 656.41 88 685.94 6.75% 7.38%
2022-03-16 BSAC CWH n 21.08 21.71 85 22.24 5.5% 6.26%
2022-03-14 SLGN SQZ y 42.82 44.08 81 44.99 5.07% 6.19%
2022-03-16 MGPI SQZ y 79.37 83.71 88 83.37 5.04% 6.87%
*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
RCMT RCM Technologies, Inc. Engineering & Construction 97 7.72 7.75 99.61
FLMN Falcon Minerals Corporation Oil & Gas E&P 95 6.29 6.48 97.07
MAXR Maxar Technologies Inc. Communication Equipment 86 35.84 36.17 99.09
STNG Scorpio Tankers Inc. Oil & Gas Midstream 92 19.23 19.64 97.91
TCFC The Community Financial Corporation Banks - Regional 86 40.38 41.00 98.49
*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.

Major Index Summary
Index Value Change Week Change YTD Trend1
Dow 34754.9
5.5% -4.36% Down
NASDAQ 13893.8
8.18% -11.19% Down
S&P 500 4463.12
6.16% -6.36% 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 Dow Jones
S&P 500
Dow Jones
Best Performing Industry
1 Week 3 Weeks 13 Weeks 26 Weeks
Oil & Gas Drilling
Oil & Gas Integrated
Airports & Air Services
Utilities - Renewable
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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