Breakout Stocks of Week 19 @ NASDAQ
NASDAQ was up last week (week 18) by 1.43% ending at 16,156.33 points after gaining 228.43 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 Constellation Energy Corporation NASDAQ:CEG. This stock has had a buy signal since Jan 30, 2024 when the price was $121.88 and is so far up 59.88% to $194.86. Some other companies are on our watchlist to, among these are Shockwave Medical Inc. NASDAQ:SWAV Pilgrim NASDAQ:PPC Innospec Inc. NASDAQ:IOSP and Leonardo DRS, Inc. NASDAQ:DRS which all got a breakout pattern emerging.
| Date | Company | Price | Week 19 |
|---|---|---|---|
| Constellation Energy Corporation | $194.86 | $214.93 | 10.30% |
| Shockwave Medical Inc. | $330.38 | $330.55 | 0.0515% |
| Pilgrim | $36.28 | $37.13 | 2.34% |
| Innospec Inc. | $121.71 | $131.22 | 7.81% |
| Leonardo Drs, Inc. | $21.22 | $22.72 | 7.07% |
The Constellation Energy Corporation stock price gained 4.66% on the last trading day (Friday, 3rd May 2024), rising from $186.18 to $194.86. During the last trading day the stock fluctuated 4.93% from a day low at $188.00 to a day high of $197.27. The price has risen in 7 of the last 10 days and is up by 7.72% 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, 560 thousand more shares were traded than the day before. In total, 3 million shares were bought and sold for approximately $608.82 million.
On Jun 18, 2024, it was reported that UBS gave CEG a "Buy" grade with a "hold" action.
Constellation Energy Corporation 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 Constellation Energy Corporation:
Constellation Energy Corporation generates and sells electricity in the United States. The company operates through five segments: Mid-Atlantic, Midwest, New York, ERCOT, and Other Power Regions. It sells natural gas, renewable energy, and other energy-related products and services. The company has 32,400 megawatts of generating capacity consisting of nuclear, wind, solar, natural gas, and hydroelectric assets. It serves distribution utilities; municipalities; cooperatives; and commercial, industrial, governmental, and residential customers. The company was incorporated in 2021 and is headquartered in Baltimore, Maryland. Constellation Energy Corporation was formerly a subsidiary of Exelon Corporation.
The Shockwave Medical Inc. stock price gained 0.115% on the last trading day (Friday, 3rd May 2024), rising from $330.00 to $330.38. During the last trading day the stock fluctuated 0.303% from a day low at $330.00 to a day high of $331.00. The price has risen in 6 of the last 10 days and is up by 0.42% 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, 16 thousand more shares were traded than the day before. In total, 634 thousand shares were bought and sold for approximately $209.45 million.
On May 09, 2024, it was reported that Wells Fargo gave SWAV a "Equal-Weight" 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 Shockwave Medical Inc. stock to perform well in the short-term.
About Shockwave Medical Inc.:
ShockWave Medical, Inc., a medical device company, engages in developing and commercializing intravascular lithotripsy technology for the treatment of calcified plaque in patients with peripheral vascular, coronary vascular, and heart valve diseases worldwide. The company offers M5 catheters for treating above-the-knee peripheral artery disease (PAD); C2 catheters for treating coronary artery disease; and S4 catheters for treating below-the-knee PAD. It serves interventional cardiologists, vascular surgeons, and interventional radiologists through sales representatives and sales managers, and distributors. The company was incorporated in 2009 and is headquartered in Santa Clara, California.
The Pilgrim stock price gained 0.92% on the last trading day (Friday, 3rd May 2024), rising from $35.95 to $36.28. During the last trading day the stock fluctuated 2.20% from a day low at $35.97 to a day high of $36.76. The price has been going up and down for this period, and there has been a 1.43% gain for the last 2 weeks. Volume fell on the last day by -515 thousand shares and in total, 898 thousand shares were bought and sold for approximately $32.59 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 18, 2024, it was reported that Argus Research gave PPC a "Buy" grade with a "initialise" 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 Pilgrim stock to perform well in the short-term.
About Pilgrim:
Pilgrim's Pride Corporation engages in the production, processing, marketing and distribution of fresh, frozen and value-added chicken, and pork products to retailers, distributors, and foodservice operators in the United States, the United Kingdom, Mexico, the Middle East, Asia, Continental Europe, and internationally. The company offers fresh products, including pre-marinated or non-marinated chicken, frozen whole chickens, breast fillets, mini breast fillets and prepackaged case-ready chicken, primary pork cuts, and pork and pork ribs; prepared products, which include portion-controlled breast fillets, tenderloins and strips, delicatessen products, salads, formed nuggets and patties, and bone-in chicken parts; processed sausages, bacon, slow cooked, smoked meat, gammon joints, as well as variety of meat products, pre-packed meats, sandwich and deli counter meats, pulled pork balls, meatballs, and coated foods. In addition, its exported products include whole chickens and chicken parts sold either refrigerated for distributors in the U.S. or frozen for distribution to export markets and primary pork cuts, hog heads and trotters frozen for distribution to export markets. The company offers its products under the Pilgrim's, Just BARE, Gold'n Pump, Gold Kist, County Pride, Pierce Chicken, Pilgrim's Mexico, County Post, Savoro, To-Ricos, Del Dia, Moy Park, O'Kane, Richmond, Fridge Raiders, and Denny brands. Pilgrim's Pride Corporation sells its products to the foodservice market principally consists of chain restaurants, food processors, broad-line distributors, and other institutions; and retail market, which comprise primarily grocery store chains, wholesale clubs, and other retail distributors. The company was founded in 1946 and is headquartered in Greeley, Colorado. Pilgrim's Pride Corporation operates as a subsidiary of JBS S.A.
The Innospec Inc. stock price gained 0.0082% on the last trading day (Friday, 3rd May 2024), rising from $121.70 to $121.71. It has now gained 3 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 1.03% from a day low at $121.45 to a day high of $122.70. The price has risen in 6 of the last 10 days but is still down by -0.47% for this period. Volume fell on the last day by -6 thousand shares and in total, 66 thousand shares were bought and sold for approximately $7.98 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 short-term signals are positive and we conclude that the current level may hold a buying opportunity, as there is a fair chance for Innospec Inc. stock to perform well in the short-term 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.
The Leonardo DRS, Inc. stock price gained 1.10% on the last trading day (Friday, 3rd May 2024), rising from $20.99 to $21.22. During the last trading day the stock fluctuated 3.82% from a day low at $20.69 to a day high of $21.48. The price has risen in 6 of the last 10 days and is up by 1.29% 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, 108 thousand more shares were traded than the day before. In total, 676 thousand shares were bought and sold for approximately $14.33 million.
On Jun 25, 2024, it was reported that BTIG gave DRS a "Buy" grade with a "initialise" action.
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 Leonardo DRS, Inc. stock to perform well in the short-term period.
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.
