Breakoutwatch Weekly Summary 03/05/2023

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Contents

Market Summary

Stocks regain lost ground

Stocks closed higher and regained some ground following their worst weekly decline in two months. Energy and materials shares were especially strong, while communication services were helped by a gain in Facebook parent Meta Platforms. Utilities stocks lagged. According to T. Rowe Price traders, a lack of notable catalysts seemed to result in low market volumes throughout much of the week. Sentiment also appeared to gain support from the S&P 500 Index staying above its 200-day moving average, a metric commonly followed by technical analysts and traders. [more...]

Major Index Performance

Dow Jones
Last Close 33391
Wk. Gain 1.47 %
Yr. Gain 0.81 %
Trend Down
Dow Jones
S&P 500
Last Close 4045.64
Wk. Gain 1.33 %
Yr. Gain 5.66 %
Trend Down
S&P 500
NASDAQ Comp.
Last Close 11689
Wk. Gain 1.49 %
Yr. Gain 12.74 %
Trend Down
NASDAQ Comp.
Russell 2000
Last Close 1928.26
Wk. Gain 1.38 %
Yr. Gain 8.96 %
Trend Down
Russell 2000

Performance by Sector

Sector Wk. Change % Yr. Change % Trend
Consumer Discretionary 0.68 14.53 Down
Consumer Staples -0.62 -1.8 Down
Energy 3.25 1.75 Down
Finance 0 6.59 Down
Health Care 0.37 -3.42 Down
Industrials 2.12 8.05 Down
Technology 1.83 14.14 Down
Materials 3.99 10.33 Up
REIT 0.45 5.4 Down
Telecom 1.74 14.25 Down
Utilities -1.08 -6.62 Down

Breakouts This Week Still Within 5% of Breakout Price (Limit 20 top C Score)

Watchlist Symbol Company Industry C Score* % Gain
CWH SXC SunCoke Energy, Inc. Coking Coal 85.2 % 4.8 %
SQZ UAL United Airlines Holdings, Inc. Airlines 84.8 % 1.3 %
SQZ VTRU Vitru Limited Education & Training Services 84.5 % 3.5 %
CWH PR Permian Resources Corporation Class A Oil & Gas E&P 82.5 % 3.3 %
SQZ NETI Eneti Inc. Marine Shipping 81.6 % 3.9 %
CWH ELA Envela Corporation Luxury Goods 81 % 2.4 %
SQZ ASLE AerSale Corporation Airports & Air Services 80.4 % 4.3 %
SQZ PBT Permian Basin Royalty Trust Oil & Gas Midstream 80.2 % 1 %
SQZ BGI Birks Group Inc. Luxury Goods 79.6 % 2.2 %
CWH UFPT UFP Technologies, Inc. Medical Devices 79.4 % 2.6 %
SQZ MRTN Marten Transport, Ltd. Trucking 79 % 0.4 %
SQZ VMI Valmont Industries, Inc. Conglomerates 78.5 % 2.6 %
CWH KEX Kirby Corporation Marine Shipping 78 % 1.4 %
SQZ BLD TopBuild Corp. Engineering & Construction 78 % 2.1 %
SQZ TTC Toro Company (The) Tools & Accessories 78 % 3.1 %
CWH LSI Life Storage, Inc. REIT - Industrial 77.6 % 1.2 %
SQZ IMMR Immersion Corporation Software - Application 77.2 % 1.3 %
SQZ CVLG Covenant Logistics Group, Inc. Trucking 76.9 % 2 %
SQZ MTR Mesa Royalty Trust Oil & Gas E&P 76.9 % 2.4 %
SQZ MANH Manhattan Associates, Inc. Software - Application 76.8 % 2.3 %
*C score is our assessment of a Stock's correlation to CAN SLIM principles. It combines a stock's Technical and Fundamental merits and is expressed as a percentage.

Breakdowns within 5% of Breakdown Price

Watchlist Symbol Company Industry C Score* % Loss
SS MRK Merck & Company, Inc. Drug Manufacturers - General 77.4 % -2.2 %
SS GPC Genuine Parts Company Specialty Retail 73.9 % -0 %
SS BBSI Barrett Business Services, Inc. Staffing & Employment Services 68.6 % -4.4 %
SS MCRI Monarch Casino & Resort, Inc. Resorts & Casinos 66.8 % -3.4 %
SS TTI Tetra Technologies, Inc. Oil & Gas Equipment & Services 61 % -3.2 %
SS ATO Atmos Energy Corporation Utilities - Regulated Gas 60.8 % -1.9 %
SS KDP Keurig Dr Pepper Inc. Beverages - Non-Alcoholic 48.2 % -2.8 %
SS RVLP RVL Pharmaceuticals plc Biotechnology 42.5 % -5 %
SS EIGR Eiger BioPharmaceuticals, Inc. Biotechnology 33.9 % -1.8 %
*C score is our assessment of a Stock's correlation to CAN SLIM principles. It combines a stock's Technical and Fundamental merits and is expressed as a percentage.

Cup and Handle Stocks Likely to Breakout at Next Session

Symbol BoP Company Industry Within x% of BoP C Score*
There were no CWH stocks meeting our breakout model criteria
*C score is our assessment of a Stock's correlation to CAN SLIM principles. It combines a stock's Technical and Fundamental merits and is expressed as a percentage.

Cup and Handle Chart of the Week

I could not find any cup and handle charts worth proposing this week.