Breakoutwatch Weekly Summary 07/09/22

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Weekly Commentary
NASDAQ Breaks Out from Head and Shoulders Bottom

As can be seen in this image, the NASDAQ has broken out from a bullish Head and Shoulders Bottom (HSB) pattern. When a HSB pattern is formed with a downward sloping neckline, the breakout occurs when the price rises above the neckline, which it did on Thursday. In addition, the NASDAQ is nudging the 50 day moving average line, which represents resistance. A move above the 50 dma on above average volume would confirm the upward trend.


Chart of the Week
Astrozeneca (AZN)

Astrozeneca was chosen by our algorithm as the cup and handle pattern stock most likely to breakout at the next session

New Features this Week

No new features this week
Strategy Suggestions
Our latest strategy suggestions are here.
Breakouts Summary by Watchlist for Week Beginning 07/04/22
List Breakouts Avg. Gain
CWH 6 2.35
SQZ 26 1.7
HTF 1 0.5
Breakouts Gaining at Least 5% for Week Beginning 07/04/22
Brkout Date Symbol Base Squeeze Brkout Price Brkout Day Close RS Rank* Last Close Current % off BOP Gain at Intraday High
2022-07-06 ENPH SQZ y 192.60 194.93 93 216.45 12.38% 13.72%
2022-07-06 EOLS SQZ y 12.40 12.91 98 13.32 7.42% 8.39%
2022-07-05 DLTR SQZ y 156.28 164.84 97 167.36 7.09% 8.82%
2022-07-06 BLU CWH n 10.28 10.87 99 10.81 5.16% 7.98%
*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
AZN AstraZeneca PLC Drug Manufacturers - General 92 66.98 67.55 99.16
SRLP Sprague Resources LP Oil & Gas Refining & Marketing 92 19.05 19.20 99.22
PTCT PTC Therapeutics, Inc. Biotechnology 93 44.73 44.92 99.58
APLS Apellis Pharmaceuticals, Inc. Biotechnology 90 48.96 50.71 96.55
CDR Cedar Realty Trust, Inc. REIT - Retail 97 28.81 28.98 99.41
NPTN NeoPhotonics Corporation Semiconductors 97 15.72 15.78 99.62
*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
TCDA 11.38 779,141 Tricida - Inc. Drug Manufacturers - Specialty & Generic 99 10.87
CTT 12.39 939,754 CatchMark Timber Trust - Inc. REIT - Specialty 94 10.34
GTX 8.41 592,715 Garrett Motion Inc. Auto Parts 90 7.50
PRDO 12.07 922,175 Perdoceo Education Corporation Education & Training Services 90 11.96
VIPS 11.58 10,475,466 Vipshop Holdings Limited Internet Retail 89 10.13
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 31338.2
0.77% -13.76% Down
NASDAQ 11635.3
4.56% -25.63% Down
S&P 500 3899.38
1.94% -18.19% 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
Dow Jones
Dow Jones
Best Performing Industry
1 Week 3 Weeks 13 Weeks 26 Weeks
Healthcare Plans
Thermal Coal
Oil & Gas Integrated
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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