Breakoutwatch Weekly Summary 07/23/22

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Weekly Commentary
Trend Signals Turn Positive as NASDAQ Gains 3.3%

There were signs this week that the market may have priced in the anticipated decline in earnings and we may look back to see that the market bottom occurred on June 16. Our trend signals for the three major indexes turned positive on Thursday after being negative since April 19. The NASDAQ outperformed the Dow and S&P 500 this week as growth stocks moved higher lifting the NASDAQ above its 50 day moving average for the first time since April 7.

There were 240 stocks that broke out from a Volatility Squeeze pattern, 29 of which exceeded a 5% gain.
NASDAQ Chart
Chart of the Week

There is no chart of the week, this week
New Features this Week

No new features this week
Strategy Suggestions
Our latest strategy suggestions are here.
Breakouts Summary by Watchlist for Week Beginning 07/18/22
List Breakouts Avg. Gain
CWH 6 0.15
SQZ 240 0.85
HTF
0
HSB
0
DB
0
Breakouts Gaining at Least 5% for Week Beginning 07/18/22
Brkout Date Symbol Base Squeeze Brkout Price Brkout Day Close RS Rank* Last Close Current % off BOP Gain at Intraday High
2022-07-18 CECE SQZ y 6.21 6.34 91 7.29 17.39% 18.36%
2022-07-18 MLI SQZ y 53.41 54.03 93 61.85 15.8% 19.34%
2022-07-19 CECE SQZ y 6.35 6.47 92 7.29 14.8% 15.75%
2022-07-19 MLI SQZ y 54.04 61.86 94 61.85 14.45% 17.95%
2022-07-20 CECE SQZ y 6.48 7.08 92 7.29 12.5% 13.43%
2022-07-19 CPSS SQZ y 10.67 11.24 97 11.98 12.28% 13.03%
2022-07-19 EQT SQZ y 37.87 39.14 98 42.23 11.51% 15.95%
2022-07-19 TNP SQZ y 9.89 10.45 90 10.92 10.41% 13.55%
2022-07-19 AR SQZ y 33.65 34.88 98 36.74 9.18% 12.69%
2022-07-18 SJT SQZ y 10.71 11.08 98 11.66 8.87% 8.87%
2022-07-18 ENPH SQZ y 194.92 206.43 95 211.54 8.53% 15.74%
2022-07-19 CBT SQZ y 64.36 67.41 92 69.69 8.28% 10.31%
2022-07-19 MOD SQZ y 11.29 11.76 93 12.22 8.24% 8.59%
2022-07-18 VOC SQZ y 7.12 7.18 96 7.7 8.15% 12.36%
2022-07-19 VC SQZ y 108.35 113.59 91 117.09 8.07% 10.6%
2022-07-18 FBP SQZ y 13.58 13.91 89 14.66 7.95% 8.51%
2022-07-18 NXST SQZ y 169.92 170.43 92 182.66 7.5% 8.63%
2022-07-19 ASC SQZ y 7.29 7.99 99 7.83 7.41% 14.4%
2022-07-19 NXST SQZ y 170.44 175.78 92 182.66 7.17% 8.3%
2022-07-19 VOC SQZ y 7.19 7.34 96 7.7 7.09% 11.27%
2022-07-20 MIST SQZ y 6.69 6.92 89 7.16 7.03% 11.06%
2022-07-19 RRC SQZ y 27.84 28.39 96 29.72 6.75% 12.43%
2022-07-20 CPSS SQZ y 11.25 11.58 98 11.98 6.49% 7.2%
2022-07-18 DGII SQZ y 24.86 25.31 96 26.37 6.07% 8.97%
2022-07-19 AVT SQZ y 43.10 44.49 94 45.64 5.89% 6.71%
2022-07-19 DMLP SQZ y 25.84 26.92 96 27.3 5.65% 9.39%
2022-07-19 VHI SQZ y 46.38 48.07 98 48.98 5.61% 6.88%
2022-07-19 FBP SQZ y 13.92 14.35 91 14.66 5.32% 5.85%
2022-07-20 AR SQZ y 34.89 36.7 98 36.74 5.3% 8.68%
*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
VG Vonage Holdings Corp. Telecom Services 94 20.99 21.00 99.95
EVOP EVO Payments, Inc. Software - Infrastructure 92 26.26 26.50 99.09
SRLP Sprague Resources LP Oil & Gas Refining & Marketing 85 19.13 19.20 99.64
SNDX Syndax Pharmaceuticals, Inc. Biotechnology 96 20.76 21.30 97.46
*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.

Top Rated Cup and Handle Stocks as of Friday July 22, 2022
Symbol BO
Price
BO
Vol.
Company Industry RS
Rank
Last
Close
EIGR 9.12 535,050 Eiger BioPharmaceuticals - Inc. Biotechnology 98 8.44
EOLS 14.29 729,370 Evolus - Inc. Drug Manufacturers - Specialty & Generic 98 12.64
FOLD 11.55 5,279,902 Amicus Therapeutics - Inc. Biotechnology 95 10.23
LPG 16.38 954,502 Dorian LPG Ltd. Oil & Gas Midstream 95 15.72
ACRS 16.86 579,753 Aclaris Therapeutics - Inc. Biotechnology 91 15.07
ESPR 7.13 1,235,643 Esperion Therapeutics - Inc. Biotechnology 90 6.21
FGEN 12.88 1,423,902 FibroGen - Inc Biotechnology 90 12.31
TAC 11.85 508,852 TransAlta Corporation Ord Utilities - Independent Power Producers 89 11.21
KURA 19.92 1,175,117 Kura Oncology - Inc. Biotechnology 88 15.64
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 31899.3
1.95% -12.22% Up
NASDAQ 11834.1
3.33% -24.36% Up
S&P 500 3961.63
2.55% -16.88% 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
NASDAQ Composite Dow Jones
-5.66
Dow Jones
-6.91
Dow Jones
-12.22
Best Performing Industry
1 Week 3 Weeks 13 Weeks 26 Weeks
Healthcare Plans
Oil & Gas Integrated
Oil & Gas Integrated
Luxury Goods
Most Improved Industry (by change in technical rank2)
Aerospace & Defense
0
Aerospace & Defense
0
Aerospace & Defense
0
Aerospace & Defense
0
Charts of each industry rank and performance over 12 months are available on the site

 

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