Breakout Stocks of Week 18 @ NASDAQ
NASDAQ was up last week (week 17) by 4.23% ending at 15,927.90 points after gaining 645.89 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 Wingstop Inc. NASDAQ:WING. This stock has had a buy signal since Apr 23, 2024 when the price was $364.73 and is so far up 4.89% to $382.56. Some other companies are on our watchlist to, among these are Bellevue Life Sciences Acquisition Corp. NASDAQ:BLAC Berry Petroleum Corporation NASDAQ:BRY A Spac Ii Acquisition Corporation NASDAQ:ASCB and Innospec Inc. NASDAQ:IOSP which all got a breakout pattern emerging.
| Date | Company | Price | Week 18 |
|---|---|---|---|
| Wingstop Inc. | $382.56 | $388.55 | 1.57% |
| Bellevue Life Sciences Acquisition Corp. | $10.71 | $10.71 | 0% |
| Berry Petroleum Corporation | $8.74 | $8.00 | -8.47% |
| A Spac Ii Acquisition Corporation | $11.14 | $11.09 | -0.449% |
| Innospec Inc. | $121.12 | $121.71 | 0.487% |
The Wingstop Inc. stock price gained 3.42% on the last trading day (Friday, 26th Apr 2024), rising from $369.90 to $382.56. During the last trading day the stock fluctuated 4.02% from a day low at $369.00 to a day high of $383.82. The price has been going up and down for this period, and there has been a 4.77% gain for the last 2 weeks. Volume fell on the last day by -132 thousand shares and in total, 483 thousand shares were bought and sold for approximately $184.71 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 13, 2024, it was reported that Goldman Sachs gave WING a "Neutral" grade with a "initialise" action.
Wingstop Inc. 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 Wingstop Inc.:
Wingstop Inc., together with its subsidiaries, franchises and operates restaurants under the Wingstop brand name. Its restaurants offer classic wings, boneless wings, and tenders that are cooked-to-order, and hand-sauced-and-tossed in various flavors. As of December 25, 2021, the company had 1,695 franchised restaurants and 36 company-owned restaurants in 44 states and 7 countries worldwide. Wingstop Inc. was founded in 1994 and is headquartered in Addison, Texas.
The Bellevue Life Sciences Acquisition Corp. stock price gained 0.187% on the last trading day (Friday, 26th Apr 2024), rising from $10.69 to $10.71. During the last trading day the stock fluctuated 0.561% from a day low at $10.70 to a day high of $10.76. The price has been going up and down for this period, and there has been a 0.09% gain for the last 2 weeks. Volume has increased on the last day along with the price, which is a positive technical sign, and, in total, 368 thousand more shares were traded than the day before. In total, 374 thousand shares were bought and sold for approximately $4.01 million.
Several short-term signals are positive and we conclude that the current level may hold a buying opportunity, as there is a fair chance for Bellevue Life Sciences Acquisition Corp. stock to perform well in the short-term period.
The Berry Petroleum Corporation stock price gained 0.81% on the last trading day (Friday, 26th Apr 2024), rising from $8.67 to $8.74. During the last trading day the stock fluctuated 1.98% from a day low at $8.59 to a day high of $8.76. The price has risen in 6 of the last 10 days and is up by 3.55% over the past 2 weeks. Volume has increased on the last day along with the price, which is a positive technical sign, and, in total, 74 thousand more shares were traded than the day before. In total, 623 thousand shares were bought and sold for approximately $5.45 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 Berry Petroleum Corporation stock to perform well in the short-term.
About Berry Petroleum Corporation:
Berry Corporation, an independent upstream energy company, engages in the development and production of conventional oil reserves located in the western United States. It operates in two segments, Development and Production, and Well Servicing and Abandonment. The company's properties are located in the San Joaquin and Ventura basins, California; and Uinta basin, Utah. As of December 31, 2021, it had a total of 3,417 net productive wells. The company was formerly known as Berry Petroleum Corporation and changed its name to Berry Corporation in February 2020. Berry Corporation was founded in 1909 and is headquartered in Dallas, Texas.
The A Spac Ii Acquisition Corporation stock price gained 0.542% on the last trading day (Friday, 26th Apr 2024), rising from $11.08 to $11.14. During the last trading day the stock fluctuated 0.542% from a day low at $11.08 to a day high of $11.14. The price has risen in 5 of the last 10 days but is still down by -0.54% for this period. Volume has increased on the last day along with the price, which is a positive technical sign, and, in total, 304 thousand more shares were traded than the day before. In total, 306 thousand shares were bought and sold for approximately $3.41 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 A Spac Ii Acquisition Corporation stock to perform well in the short-term.
The Innospec Inc. stock price gained 0.85% on the last trading day (Friday, 26th Apr 2024), rising from $120.10 to $121.12. During the last trading day the stock fluctuated 1.51% from a day low at $120.29 to a day high of $122.11. The price has fallen in 6 of the last 10 days and is down by -1.26% for this period. Volume fell on the last day by -26 thousand shares and in total, 63 thousand shares were bought and sold for approximately $7.60 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 Apr 26, 2022, it was reported that Seaport Global gave IOSP a "Neutral" 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 Innospec Inc.:
Innospec Inc. develops, manufactures, blends, markets, and supplies specialty chemicals in the United States, rest of North America, the United Kingdom, rest of Europe, and internationally. The company's Fuel Specialties segment offers a range of specialty chemical products that are used as additives in various fuels. This segment's products are used in the operation of automotive, marine, and aviation engines; power station generators; and heating oil. Its Performance Chemicals segment provides technology-based solutions for its customers' processes or products that focuses on the personal care, home care, agrochemical, and metal extraction markets. The company's Oilfield Services segment develops and markets chemical solutions for fracturing, stimulation, and completion operations; and products for oil and gas production, as well as products to prevent loss of mud in drilling operations. It sells its products primarily to oil and gas exploration and production companies, oil refineries, fuel manufacturers and users, personal care and home care companies, formulators of agrochemical and metal extraction formulations, and other chemical and industrial companies. The company was formerly known as Octel Corp. and changed its name to Innospec Inc. in January 2006. Innospec Inc. was founded in 1938 and is headquartered in Englewood, Colorado.
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.
