Breakoutwatch Weekly Summary 10/08/22

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Weekly Commentary
June Support Level Holds Giving a Positive Start to the month.

In last week's newsletter I thought that the June support level could not hold, but so far I was wrong. It's true that the broad rally at the start of the week could not be sustained culminating in a sharp dive on Friday in response to a strong jobs report, but just before the close on Friday there was buying at last Friday's support level leaving the NASDAQ with a modest 0.73% gain for the week. This leaves the June support level still in play. It's too soon to declare a bottom, of course, especially following OPEC's decision to cut oil production, which will likely raise oil prices and inflation also.
Chart of the Week
Treehouse Foods (THS)

Treehouse foods has shown strong momentum before setting a pivot on October5. Friday's Doji candlestick pattern shows some indecision on the next move, but the stock moved higher in after hours trading on Friday indicating the next move likely to be up. Should it breakout, there is a target profit of 8% to the left cup.THS 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 10/03/22
List Breakouts Avg. Gain
CWH 9 -0.21
SQZ 64 -0.34
HTF 2 -7.44
Breakouts Gaining at Least 5% for Week Beginning 10/03/22
Brkout Date Symbol Base Squeeze Brkout Price Brkout Day Close RS Rank* Last Close Current % off BOP Gain at Intraday High
2022-10-04 BSM SQZ y 16.24 16.75 95 17.36 6.9% 8.8%
2022-10-03 UCBI SQZ y 33.11 33.51 83 34.8 5.1% 7.07%
2022-10-04 SANM SQZ y 47.30 49.18 93 49.7 5.07% 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
IONS Ionis Pharmaceuticals, Inc. Biotechnology 95 45.93 46.52 98.73
*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.
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Top Rated Cup and Handle Stocks as of Friday October 07, 2022
Symbol BO
Company Industry RS
SBS 11.43 4,578,082 Companhia de saneamento Basico Do Estado De Sao Pa Utilities - Regulated Water 97 10.93
MOD 17.52 545,958 Modine Manufacturing Company Auto Parts 95 13.23
KNSA 14.39 520,846 Kiniksa Pharmaceuticals - Ltd. Biotechnology 94 13.89
ARCO 7.92 1,253,910 Arcos Dorados Holdings Inc. Restaurants 93 7.57
AGI 8.17 5,560,710 Alamos Gold Inc. Gold 87 7.82
TBPH 11.00 870,336 Theravance Biopharma - Inc. Biotechnology 86 9.91
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 29296.8
1.99% -19.38% Down
NASDAQ 10652.4
0.73% -31.91% Down
S&P 500 3639.66
1.51% -23.64% 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
Thermal Coal
Industrial Distribution
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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