Breakout Stocks of Week 13 @ MEX
NASDAQ was up last week (week 12) by 2.68% ending at 16,401.84 points after gaining 428.66 points during the week. Our system has detected some possible breakout stocks for the following week and these should be on your watchlist. These are the stocks that are bouncing up with good increase in volume and are likely to do good in short term. One of these stocks are Grupo Elektra, S.A.B. de C.V. MEX:ELEKTRA. This stock has had a buy signal since Mar 15, 2024 when the price was $1,151.21 and is so far up 0.118% to $1,152.57. Some other companies are on our watchlist to, among these are which all got a breakout pattern emerging.
| Date | Company | Price | Week 13 |
|---|---|---|---|
| Grupo Elektra, S.a.b. De C.v. | $1,152.57 | $1,150.01 | -0.222% |
| Grupo Financiero Banorte, S.a.b. De C.v. | $172.59 | $176.66 | 2.36% |
The Grupo Elektra, S.A.B. de C.V. stock price gained 0.147% on the last trading day (Friday, 22nd Mar 2024), rising from $1,150.88 to $1,152.57. During the last trading day the stock fluctuated 1.04% from a day low at $1,150.00 to a day high of $1,161.95. The price has been going up and down for this period, and there has been a -1.61% loss for the last 2 weeks. Volume fell on the last day by -1 thousand shares and in total, 86 thousand shares were bought and sold for approximately $99.58 million. You should take into consideration that falling volume on higher prices causes divergence and may be an early warning about possible changes over the next couple of days.
Grupo Elektra, S.A.B. de C.V. holds several positive signals, but we still don't find these to be enough for a buy candidate. At the current level, it should be considered as a hold candidate (hold or accumulate) in this position whilst awaiting further development.
About Grupo Elektra, S.A.B. de C.V.:
Grupo Elektra, S.A.B. de C.V. operates as a financial services and specialty retailing company in Latin America, as well as a short-term non-bank loan provider in the United States. The company's Commercial Business segment engages in the sale of motorcycles, cell phones, small household and major appliances, electronics, furniture, car batteries, computers, entertainment systems, and electronic money transfers. Its Financial Business segment provides consumer credit, personal loans, commercial loans, savings and time deposits, credit cards, and other consumer financing services; accident, health, and life insurance products; pension fund management; full brokerage services; and cash advance services. The company operates approximately 6,600 points of contact in Mexico, the United States, Guatemala, Honduras, Panama, and Peru. Grupo Elektra, S.A.B. de C.V. was founded in 1950 and is based in Mexico City, Mexico.
The Grupo Financiero Banorte, S.A.B. de C.V. stock price fell by -1.70% on the last day (Friday, 22nd Mar 2024) from $175.58 to $172.59. During the last trading day the stock fluctuated 2.24% from a day low at $172.10 to a day high of $175.96. The price has been going up and down for this period, and there has been a -2.04% loss for the last 2 weeks. Volume fell on the last day along with the stock, which is actually a good sign as volume should follow the stock. On the last day, the trading volume fell by -567 thousand shares and in total, 3 million shares were bought and sold for approximately $474.67 million.
Grupo Financiero Banorte, S.A.B. de C.V. holds several negative signals and this should be a sell candidate, but due to the general chance for a turnaround situation it should be considered as a hold candidate (hold or accumulate) in this position whilst awaiting further development.
About Grupo Financiero Banorte, S.A.B. de C.V.:
Grupo Financiero Banorte, S.A.B. de C.V., through its subsidiaries, provides banking and financial products and services in Mexico. The company offers payroll accounts and credit cards; car, mortgage, payroll, and personal credit banorte; and savings and investment products. It also provides insurance products, including life, home, auto, health, savings, credit card, mobile equipment, and mortgage credit insurance; foreign exchange services; and online and mobile banking services. The company operates through a network of approximately 1,151 branches, 9,668 ATMs, and 154,443 point of sale terminals. Grupo Financiero Banorte, S.A.B. de C.V. was founded in 1899 and is based in Mexico City, Mexico.
Despite these candidates are looking good from a technical perspective they may not perform as expected. You should always be cautious when trading and base your decisions on more than one source of information. This does not constitute an offer or recommendation to buy or sell securities.
