Breakoutwatch Weekly Summary 04/30/22

You are receiving this email because you are or were a subscriber, or have subscribed to our weekly newsletter. This newsletter summarizes the breakout events of the week and provides additional guidance that does not fit into our daily format. It is published each weekend.
Newsletter Archive:

Weekly Commentary
No Relief in Sight as FOMC Meets May 3-4

The NASDAQ closed below the March support level on Friday, losing 3.9% for the week. The index is now at its lowest level since November 2020 having given up 18 months of gains. The selling resulted from negative GDP growth in Q1 of 1.4% and imminent interest rate increases when the FOMC meets next week. There is little chance that rates will not be raised as the Fed has a dual mandate to maintain full employment and price stability. While the unemployment mandate is met, clearly price stability has gone out the window.

Chart of the Week
Redwood Trust (RWT)

Redwood Trust is an REIT and delivered a Q1 earnings surprise of 7.7% and gained 7.2% in normal hours on Friday and a further 3% in after hours trading. Forward guidance anticipates a dividend yield of over 9% which if realized would make it a profitable inflation hedge in the coming months.

RWT 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 04/25/22
List Breakouts Avg. Gain
CWH 5 -1.08
SQZ 29 -1.53
HTF 2 3.63
Breakouts Gaining at Least 5% for Week Beginning 04/25/22
Brkout Date Symbol Base Squeeze Brkout Price Brkout Day Close RS Rank* Last Close Current % off BOP Gain at Intraday High
2022-04-27 STNG CWH y 23.01 23.7 97 24.73 7.48% 10.13%
2022-04-28 VTNR SQZ y 8.99 9.67 99 9.51 5.78% 12.12%
*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
RNDB Randolph Bancorp, Inc. Banks - Regional 91 26.34 26.56 99.17
*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.
/home/breakoutwatch/public_html/model/disc/2022-04-29.html could not open /home/breakoutwatch/public_html/model/disc/2022-04-29.html
Top Rated Cup and Handle Stocks as of Friday April 29, 2022
Symbol BO
Company Industry RS
BLU 9.04 1,019,131 BELLUS Health Inc. Biotechnology 98 8.06
TUFN 13.00 1,219,230 Tufin Software Technologi Software - Infrastructure 96 12.90
MGI 10.87 5,703,766 Moneygram International - Inc. Credit Services 94 10.13
DNOW 11.83 1,177,102 NOW Inc. Oil & Gas Equipment & Services 93 10.90
LPG 16.20 680,769 Dorian LPG Ltd. Oil & Gas Midstream 92 14.72
BHR 6.48 666,491 Braemar Hotels & Resorts Inc. REIT - Hotel & Motel 90 6.06
KT 15.30 1,253,247 KT Corporation Telecom Services 85 13.93
RPT 14.37 701,965 RPT Realty REIT - Retail 83 13.29
ACRE 16.48 733,989 Ares Commercial Real Estate Corporation REIT - Mortgage 82 15.07
PSO 11.07 1,065,616 Pearson - Plc Publishing 82 9.69
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 32977.2
-2.47% -9.25% Down
NASDAQ 12334.6
-3.93% -21.16% Down
S&P 500 4131.93
-3.27% -13.31% 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
Dow Jones
Dow Jones
Best Performing Industry
1 Week 3 Weeks 13 Weeks 26 Weeks
Thermal Coal
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


If you received this newsletter from a friend and you would like to receive it regularly please go to the site and you will then be able to register to receive the newsletter.

Copyright (c) 04/30/2022 Proactive Technologies, LLC dba All rights reserved.
" BreakoutWatch," the "eye" logo, and the slogan "tomorrow's breakouts today" are service marks of Proactive Technologies LLC. All other marks are the property of their respective owners, and are used for descriptive purposes only.

BreakoutWatch is not affiliated with Investor's Business Daily or with Mr. William O'Neil. Our site, research and analysis is supported entirely by subscription and is free from advertising.