Breakout Stocks of Week 13 @ NASDAQ
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 Netflix NASDAQ:NFLX. This stock has had a buy signal since Jan 04, 2024 when the price was $474.67 and is so far up 32.30% to $628.01. Some other companies are on our watchlist to, among these are CommVault Systems NASDAQ:CVLT Gentherm Inc NASDAQ:THRM Alkermes plc NASDAQ:ALKS and TORM PLC Class A NASDAQ:TRMD which all got a breakout pattern emerging.
| Date | Company | Price | Week 13 |
|---|---|---|---|
| Netflix | $628.01 | $607.33 | -3.29% |
| Commvault Systems | $100.54 | $101.43 | 0.89% |
| Gentherm Inc | $54.98 | $57.58 | 4.73% |
| Alkermes Plc | $27.29 | $27.07 | -0.81% |
| Torm Plc Class A | $33.61 | $34.95 | 3.99% |
The Netflix stock price gained 0.85% on the last trading day (Friday, 22nd Mar 2024), rising from $622.71 to $628.01. During the last trading day the stock fluctuated 1.24% from a day low at $621.32 to a day high of $629.05. The price has risen in 6 of the last 10 days and is up by 3.83% over the past 2 weeks. Volume fell on the last day by -380 thousand shares and in total, 2 million shares were bought and sold for approximately $1.33 billion. 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.
On Jun 18, 2024, it was reported that Loop Capital Markets gave NFLX a "Buy" grade with a "hold" action.
Netflix holds several positive signals and is within a strong rising trend. As the old saying says, "Let the trend be your friend.'". We therefore consider it to be a good choice at these current levels and we are expecting further gains during the next 3 months.
About Netflix:
Netflix, Inc. provides entertainment services. It offers TV series, documentaries, feature films, and mobile games across various genres and languages. The company provides members the ability to receive streaming content through a host of internet-connected devices, including TVs, digital video players, television set-top boxes, and mobile devices. It also provides DVDs-by-mail membership services in the United States. The company has approximately 222 million paid members in 190 countries. Netflix, Inc. was incorporated in 1997 and is headquartered in Los Gatos, California.
The CommVault Systems stock price gained 0.299% on the last trading day (Friday, 22nd Mar 2024), rising from $100.24 to $100.54. It has now gained 4 days in a row. It will be exciting to see whether it manages to continue gaining or take a minor break for the next few days. During the last trading day the stock fluctuated 0.89% from a day low at $100.05 to a day high of $100.94. The price has risen in 7 of the last 10 days and is up by 1.83% over the past 2 weeks. Volume fell on the last day by -63 thousand shares and in total, 154 thousand shares were bought and sold for approximately $15.47 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.
On Jul 02, 2024, it was reported that Wells Fargo gave CVLT a "Sector Perform" grade with a "hold" action.
Several short-term signals, along with a general good trend, are positive and we conclude that the current level may hold a buying opportunity as there is a fair chance for CommVault Systems stock to perform well in the short-term.
About CommVault Systems:
Commvault Systems, Inc. provides data protection and information management software applications and related services in the United States and internationally. The company offers Commvault Backup and Recovery, a backup and recovery solution; Commvault Disaster Recovery, a replication and disaster recovery solution; and Commvault Complete Data Protection, a data protection solution. It also provides Commvault HyperScale X, an easy-to-deploy scale-out solution; Commvault Distributed Storage Platform that offers software-defined storage built on a hyperscale architecture; Metallic Cloud Storage service, which is the easy button to adopt secure and scalable cloud storage; and Metallic Software-as-a-Service. In addition, the company provides technology and business consulting, education, and remote managed services. Further, it sells appliances that integrate the software with hardware for use in a range of business needs and use cases; and offers professional and customer support services that include data management-as-a-service under the Metallic brand. The company sells its products and services directly through its sales force, and indirectly through its network of distributors, value-added resellers, systems integrators, corporate resellers, and original equipment manufacturers to large enterprises, small and medium sized businesses, and government agencies. It supports customers in a range of industries, including banking, insurance and financial services, government, healthcare, pharmaceuticals and medical services, technology, legal, manufacturing, utilities, and energy. Commvault Systems, Inc. was founded in 1988 and is headquartered in Tinton Falls, New Jersey.
The Gentherm Inc stock price fell by -0.99% on the last day (Friday, 22nd Mar 2024) from $55.53 to $54.98. During the last trading day the stock fluctuated 1.27% from a day low at $54.94 to a day high of $55.64. The price has fallen in 7 of the last 10 days and is down by -1.31% for this period. 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 -108 thousand shares and in total, 125 thousand shares were bought and sold for approximately $6.85 million.
Several short-term signals, along with a general good trend, are positive and we conclude that the current level may hold a buying opportunity as there is a fair chance for Gentherm Inc stock to perform well in the short-term.
About Gentherm Inc:
Gentherm Incorporated designs, develops, manufactures, and markets thermal management technologies. The company operates in two segments, Automotive and Medical. The Automotive segment offers climate comfort systems, which include seat heaters, blowers, and thermoelectric devices for variable temperature climate control seats and steering wheel heaters that are designed to provide thermal comfort to automobile passengers; integrated electronic components, such as electronic control units that utilize proprietary electronics technology and software; and other climate comfort systems, including neck conditioners and climate control system products for door panels, armrests, cupholders, and storage bins. It also provides battery performance solutions comprising cell connecting devices and battery cable technologies used for various types of automotive batteries, as well as thermal management products for heating and cooling 12 volts, 48 volts, and high voltage batteries and battery modules; and automotive electronic and software systems, including electronic control units for climate comfort systems, as well as for memory seat modules and other devices. This segment serves light vehicle original equipment manufacturers and first tier suppliers, such as automotive seat manufacturers, as well as aftermarket seat distributors and installers. The Medical segment offers patient temperature management systems. The company provides its products and services in the United States, Germany, Canada, China, Hungary, Japan, South Korea, Romania, Macedonia, Malta, Mexico, the United Kingdom, Ukraine, and Vietnam. The company was formerly known as Amerigon Incorporated and changed its name to Gentherm Incorporated in September 2012. Gentherm Incorporated was incorporated in 1991 and is headquartered in Northville, Michigan.
The Alkermes plc stock price gained 1.19% on the last trading day (Friday, 22nd Mar 2024), rising from $26.97 to $27.29. During the last trading day the stock fluctuated 2.77% from a day low at $26.75 to a day high of $27.49. The price has been going up and down for this period, and there has been a -6.7% loss for the last 2 weeks. Volume fell on the last day by -92 thousand shares and in total, 2 million shares were bought and sold for approximately $50.93 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.
On Jun 17, 2024, it was reported that Piper Sandler gave ALKS a "Buy" grade with a "hold" action.
Several of the signals/indicators are negative, and we believe that this will affect on the development for the next days and maybe possible weeks. However, over time, we think that today's level holds a possible buying opportunity and that the price will be higher during or at the end of this 3-month period.
About Alkermes plc:
Alkermes plc, a biopharmaceutical company, researches, develops, and commercializes pharmaceutical products to address unmet medical needs of patients in various therapeutic areas in the United States, Ireland, and internationally. Its marketed products include ARISTADA, an intramuscular injectable suspension for the treatment of schizophrenia; VIVITROL for the treatment of alcohol and prevention of opioid dependence; RISPERDAL CONSTA for the treatment of schizophrenia and bipolar I disorder; INVEGA SUSTENNA for the treatment of schizophrenia and schizoaffective disorder; XEPLION, INVEGA TRINZA, and TREVICTA to treat schizophrenia and schizoaffective; and VUMERITY for the treatment of relapsing forms of multiple sclerosis in adults, including clinically isolated syndrome, relapsing-remitting and active secondary progressive diseases. The company is also developing LYBALVI, an oral atypical antipsychotic drug candidate for the treatment of adults with schizophrenia and bipolar I disorder; and nemvaleukin alfa, an engineered fusion protein to expand tumor-killing immune cells and to avoid the activation of immunosuppressive cells. It has collaboration agreements primarily with Janssen Pharmaceutica N.V., Janssen Pharmaceutica Inc, and Janssen Pharmaceutica International. Alkermes plc was founded in 1987 and is headquartered in Dublin, Ireland.
The TORM PLC Class A stock price fell by -2.24% on the last day (Friday, 22nd Mar 2024) from $34.38 to $33.61. During the last trading day the stock fluctuated 1.58% from a day low at $33.61 to a day high of $34.14. The price has been going up and down for this period, and there has been a -0.44% 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 -234 thousand shares and in total, 532 thousand shares were bought and sold for approximately $17.89 million.
On May 08, 2024, it was reported that Evercore ISI gave TRMD a "Outperform" grade with a "hold" action.
Several short-term signals, along with a general good trend, are positive and we conclude that the current level may hold a buying opportunity as there is a fair chance for TORM PLC Class A stock to perform well in the short-term.
About TORM PLC Class A:
TORM plc, a product tanker company, engages in the transportation of refined oil products and crude oil worldwide. The company transports gasoline, jet fuel, and naphtha. As of March 23, 2022, it operated a fleet of approximately 85 vessels. The company was founded in 1889 and is headquartered in London, the United Kingdom.
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.
