Breakoutwatch Weekly Summary 11/05/22

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Weekly Commentary
Mega Cap Stocks Continue to Weigh Heavily On the NASDAQ

The NASDAQ lost a further 5.6% this week bringing the year-to-date loss to 33%. The mega cap tech stops are principally to blame as evidenced by the Vanguard Mega Cap Growth ETF (MGK) losing 6.8%. That said, the index did bounce off resistance on Thursday and finished higher on Friday but on weak volume. Comments by Fed Chairman Powell this week implied that interest rates will continue rising until inflation slows. Rising interest rates will increase company's debt burden and borrowing costs thereby reducing profits and the future value of a stock's share price. In other words, Growth stocks have the highest investment costs in general and are concentrated in the NASDAQ so we can expect further downside to the NASDAQ as confirmed by our trend indicator which remains down while the trend indicators for the DJI and S&P 500 remain positive.

NASDAQ Chart
Chart of the Week
Timken Company (The) [TKR]

TKR are in a 'high handle' meaning that the right cup pivot point is higher than the left cup. Since forming the handle the stock experienced one day of profit taking before resuming to rise on well above average volume and adding 3% on Friday. As O'Neil wrote, 'buy high and sell higher'.
TKR 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 10/31/22
List Breakouts Avg. Gain
CWH 20 0.79
SQZ 31 1.74
HTF
0
HSB
0
DB
0
Breakouts Gaining at Least 5% for Week Beginning 10/31/22
Brkout Date Symbol Base Squeeze Brkout Price Brkout Day Close RS Rank* Last Close Current % off BOP Gain at Intraday High
2022-10-31 NRT SQZ y 15.11 15.54 85 17.1 13.17% 17.87%
2022-11-04 SD SQZ y 18.51 20.79 92 20.79 12.32% 12.91%
2022-10-31 GNE SQZ y 9.64 9.77 96 10.8 12.03% 13.38%
2022-11-01 GNE SQZ y 9.78 10.4 97 10.8 10.43% 11.76%
2022-11-03 RCMT SQZ y 17.32 18.38 97 18.42 6.35% 13.51%
2022-11-01 OBE CWH n 9.21 9.27 86 9.76 5.97% 7.27%
2022-10-31 RCMT SQZ y 17.45 17.5 98 18.42 5.56% 12.66%
*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
HAYN Haynes International, Inc. Metal Fabrication 94 50.57 51.45 98.29
ECOM ChannelAdvisor Corporation Software - Application 95 23.08 23.10 99.91
BNFT Benefitfocus, Inc. Software - Application 90 10.39 10.40 99.9
EQBK Equity Bancshares, Inc. Banks - Regional 88 35.76 36.09 99.09
AAWW Atlas Air Worldwide Holdings Airports & Air Services 91 100.44 101.25 99.2
TWI Titan International, Inc. Farm & Heavy Construction Machinery 94 15.03 15.44 97.34
MGI Moneygram International, Inc. Credit Services 94 10.56 10.62 99.44
UCBI United Community Banks, Inc. Banks - Regional 89 38.72 38.99 99.31
WNC Wabash National Corporation Farm & Heavy Construction Machinery 95 22.42 22.66 98.94
IBCP Independent Bank Corporation Banks - Regional 86 23.25 23.33 99.66
ABMD ABIOMED, Inc. Medical Devices 93 373.99 381.99 97.91
KNSA Kiniksa Pharmaceuticals, Ltd. Biotechnology 92 13.895 14.50 95.83
LBAI Lakeland Bancorp, Inc. Banks - Regional 89 18.68 18.83 99.2
STKL SunOpta, Inc. Packaged Foods 97 10.92 11.67 93.57
PGC Peapac Banks - Regional 90 39.21 39.87 98.34
FET Forum Energy Technologies, Inc. Oil & Gas Equipment & Services 94 26.93 27.95 96.35
WTTR Select Energy Services, Inc. Oil & Gas Equipment & Services 96 9.41 9.84 95.63
PRPH ProPhase Labs, Inc. Drug Manufacturers - Specialty & Generic 97 12 12.35 97.17
ARLP Alliance Resource Partners, L.P. Thermal Coal 97 23.95 25.46 94.07
BWB Bridgewater Bancshares, Inc. Banks - Regional 89 19.42 19.76 98.28
NWPX Northwest Pipe Company Metal Fabrication 93 34.56 34.90 99.03
HP Helmerich & Payne, Inc. Oil & Gas Drilling 95 50.62 52.31 96.77
ATEN A10 Networks, Inc. Software - Infrastructure 91 18.26 18.69 97.7
FULT Fulton Financial Corporation Banks - Regional 88 18.34 18.46 99.35
CVEO Civeo Corporation (Canada) Specialty Business Services 93 30.79 31.87 96.61
ESE ESCO Technologies Inc. Scientific & Technical Instruments 89 85.84 87.51 98.09
MCRI Monarch Casino & Resort, Inc. Resorts & Casinos 92 79.8 81.72 97.65
ATAX America First Multifamily Investors, L.P. Mortgage Finance 98 18.32 19.10 95.92
SJI South Jersey Industries, Inc. Utilities - Diversified 92 34.53 34.99 98.69
SSB SouthState Corporation Banks - Regional 87 90.11 91.74 98.22
EBF Ennis, Inc. Business Equipment & Supplies 90 22.59 22.89 98.69
TMUS T-Mobile US, Inc. Telecom Services 89 148.83 154.38 96.4
REGN Regeneron Pharmaceuticals, Inc. Biotechnology 91 740.21 764.59 96.81
FHN First Horizon Corporation Banks - Regional 92 24.34 24.55 99.14
ANIP ANI Pharmaceuticals, Inc. Drug Manufacturers - Specialty & Generic 86 38.34 39.49 97.09
MMSI Merit Medical Systems, Inc. Medical Instruments & Supplies 89 68.53 69.86 98.1
DCP DCP Midstream, LP Oil & Gas Midstream 92 39.33 40.23 97.76
ATNI ATN International, Inc. Telecom Services 86 45 46.15 97.51
MSBI Midland States Bancorp, Inc. Banks - Regional 83 27.77 28.59 97.13
PRK Park National Corporation Banks - Regional 90 146.73 149.06 98.44
GABC German American Bancorp, Inc. Banks - Regional 84 39.93 40.15 99.45
THS Treehouse Foods, Inc. Packaged Foods 94 48.57 51.04 95.16
HWC Hancock Whitney Corporation Banks - Regional 89 55.99 56.43 99.22
TMP Tompkins Financial Corporation Banks - Regional 87 83.79 84.25 99.45
CVI CVR Energy Inc. Oil & Gas Refining & Marketing 97 39.19 42.14 93
CTBI Community Trust Bancorp, Inc. Banks - Regional 88 47.1 47.91 98.31
WBS Webster Financial Corporation Banks - Regional 84 54.12 55.03 98.35
AJG Arthur J. Gallagher & Co. Insurance Brokers 89 188.39 189.96 99.17
BHF Brighthouse Financial, Inc. Insurance - Life 90 56.04 58.39 95.98
PFGC Performance Food Group Company Food Distribution 86 52.06 53.48 97.34
NWBI Northwest Bancshares, Inc. Banks - Regional 87 14.98 15.16 98.81
GER Goldman Sachs MLP Energy Asset Management 88 13.57 13.91 97.56
EMO ClearBridge Energy Midstream Opportunity Fund Inc. Asset Management 90 30.1 30.62 98.3
BMRC Bank of Marin Bancorp Banks - Regional 83 35.41 36.74 96.38
MET MetLife, Inc. Insurance - Life 89 74.11 75.52 98.13
TKR Timken Company (The) Tools & Accessories 87 71.9 72.96 98.55
EXLS ExlService Holdings, Inc. Information Technology Services 92 177.01 184.74 95.82
ADT ADT Inc. Security & Protection Services 88 8.49 8.91 95.29
TTC Toro Company (The) Tools & Accessories 91 104.79 107.76 97.24
WAFD Washington Federal, Inc. Banks - Regional 89 38.19 38.95 98.05
CIVB Civista Bancshares, Inc. Banks - Regional 84 23.62 23.86 98.99
LKFN Lakeland Financial Corporation Banks - Regional 87 81.48 83.57 97.5
THFF First Financial Corporation Indiana Banks - Regional 86 48.34 48.97 98.71
PFBC Preferred Bank Banks - Regional 84 75.68 77.46 97.7
AGO Assured Guaranty Ltd. Insurance - Specialty 87 58.68 59.75 98.21
AEL American Equity Investment Life Holding Company Insurance - Life 89 41.58 43.26 96.12
PLOW Douglas Dynamics, Inc. Auto Parts 86 37.6 38.55 97.54
ULTA Ulta Beauty, Inc. Specialty Retail 88 418.32 426.89 97.99
SENEA Seneca Foods Corp. Packaged Foods 91 62.56 64.68 96.72
WTFC Wintrust Financial Corporation Banks - Regional 83 93.25 96.92 96.21
FLEX Flex Ltd. Electronic Components 88 19.11 20.15 94.84
JJSF J & J Snack Foods Corp. Packaged Foods 83 146.96 149.85 98.07
R Ryder System, Inc. Rental & Leasing Services 86 83.35 85.20 97.83
JACK Jack In The Box Inc. Restaurants 84 86.36 89.63 96.35
ABCB Ameris Bancorp Banks - Regional 86 51.75 53.37 96.96
IMKTA Ingles Markets, Inco Grocery Stores 84 92.61 96.01 96.46
EZPW EZCORP, Inc. Credit Services 92 9.19 9.79 93.87
SJM J.M. Smucker Company (The) New Packaged Foods 89 149.38 152.16 98.17
ASR Grupo Aeroportuario del Sureste, S.A. de C.V. Airports & Air Services 89 228.91 237.71 96.3
EE Excelerate Energy, Inc. Utilities - Regulated Electric 89 26.62 28.39 93.77
WMB Williams Companies, Inc. Oil & Gas Midstream 85 33.54 33.84 99.11
SLGN Silgan Holdings Inc. Packaging & Containers 88 47.79 48.59 98.35
SCHW Charles Schwab Corporation (The) Capital Markets 84 79.05 81.08 97.5
PEP PepsiCo, Inc. Beverages - Non-Alcoholic 83 178.78 183.58 97.39
CSGP CoStar Group, Inc. Real Estate Services 88 79.97 83.70 95.54
KEX Kirby Corporation Marine Shipping 88 69.09 72.14 95.77
MVO MV Oil Trust Units of Ben Oil & Gas E&P 96 13.61 15.13 89.95
IEX IDEX Corporation Specialty Industrial Machinery 85 222.59 225.87 98.55
NS Nustar Energy L.P. Oil & Gas Midstream 83 16.13 16.61 97.11
CALM Cal-Maine Foods, Inc. Farm Products 94 57.48 62.64 91.76
PSX Phillips 66 Oil & Gas Refining & Marketing 93 103.48 109.97 94.1
NVEE NV5 Global, Inc. Engineering & Construction 92 139.64 149.31 93.52
DMLP Dorchester Minerals, L.P. Oil & Gas E&P 92 28.39 31.03 91.49
BATRA Liberty Media Corporation Entertainment 87 30.79 32.66 94.27
SUPN Supernus Pharmaceuticals, Inc. Drug Manufacturers - Specialty & Generic 87 34 35.27 96.4
EDN Empresa Distribuidora Y C Utilities - Regulated Electric 88 7.1 7.61 93.3
IT Gartner, Inc. Information Technology Services 86 319.5 330.40 96.7
DNOW NOW Inc. Oil & Gas Equipment & Services 92 12.46 13.51 92.23
WMT Walmart Inc. Discount Stores 81 140.97 143.57 98.19
LNN Lindsay Corporation Farm & Heavy Construction Machinery 88 163.19 169.61 96.21
NTCT NetScout Systems, Inc. Software - Infrastructure 85 34.9 36.24 96.3
HWKN Hawkins, Inc. Specialty Chemicals 90 44.69 47.26 94.56
TBPH Theravance Biopharma, Inc. Biotechnology 86 9.96 11.00 90.55
TJX TJX Companies, Inc. Apparel Retail 87 71.19 73.01 97.51
NJR NewJersey Resources Corporation Utilities - Regulated Gas 83 44.28 46.05 96.16
SMHI SEACOR Marine Holdings Inc. Marine Shipping 94 7.14 7.98 89.47
CEQP Crestwood Equity Partners Oil & Gas Midstream 86 29.36 31.46 93.32
DECK Deckers Outdoor Corporation Footwear & Accessories 88 353.64 372.89 94.84
HSTM HealthStream, Inc. Health Information Services 82 23.99 25.19 95.24
PSTG Pure Storage, Inc. Computer Hardware 85 30.34 31.97 94.9
GFF Griffon Corporation Tools & Accessories 91 30.99 33.51 92.48
HSY The Hershey Company Confectioners 88 229.03 241.45 94.86
NXGN NextGen Healthcare, Inc. Health Information Services 88 19.79 21.94 90.2
SSTI ShotSpotter, Inc. Software - Application 87 34.52 38.80 88.97
PSO Pearson, Plc Publishing 88 10.53 11.20 94.02
ENPH Enphase Energy, Inc. Semiconductor Equipment & Materials 95 282.44 316.87 89.13
SP SP Plus Corporation Specialty Business Services 86 33.89 37.51 90.35
CRT Cross Timbers Royalty Trust Oil & Gas E&P 95 20.44 24.19 84.5
MEDP Medpace Holdings, Inc. Diagnostics & Research 93 206.9 235.72 87.77
ALG Alamo Group, Inc. Farm & Heavy Construction Machinery 85 143.51 156.43 91.74
CLH Clean Harbors, Inc. Waste Management 88 111.93 123.98 90.28
SWAV ShockWave Medical, Inc. Medical Devices 96 274.39 320.24 85.68
SEED Origin Agritech Limited Agricultural Inputs 89 9.31 11.84 78.63
CTRA Coterra Energy Inc. Thermal Coal 88 28.93 31.76 91.09
AMN AMN Healthcare Services Inc Medical Care Facilities 85 112.62 129.04 87.28
UI Ubiquiti Inc. Communication Equipment 83 297.83 350.63 84.94
*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 November 04, 2022
Symbol BO
Price		 BO
Vol.		 Company Industry RS
Rank		 Last
Close
No stocks met 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 32403.2
 -1.4% -10.83% Up
NASDAQ 10475.3
 -5.65% -33.04% Down
S&P 500 3770.55
 -3.35% -20.89% 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
Dow Jones Dow Jones
-1.22		 Dow Jones
-1.51		 Dow Jones
-10.83
Best Performing Industry
1 Week 3 Weeks 13 Weeks 26 Weeks
Thermal Coal
 Thermal Coal
 Thermal Coal
 Uranium
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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