Breakout Stocks of Week 21 @ NYSE
NASDAQ was up last week (week 20) by 2.15% ending at 16,698.32 points after gaining 352.06 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 Sandstorm Gold Ltd NYSE:SAND. This stock has had a buy signal since Mar 22, 2024 when the price was $4.95 and is so far up 19.39% to $5.91. Some other companies are on our watchlist to, among these are Riley Exploration-Permian, LLC NYSE:REPX Corrections Corporation of America NYSE:CXW Helmerich & Payne Inc NYSE:HP and Matador Resources Company NYSE:MTDR which all got a breakout pattern emerging.
| Date | Company | Price | Change |
|---|---|---|---|
| Sandstorm Gold Ltd | $5.91 | $5.91 ( 17th May 2024 ) | 0% |
| Riley Exploration-permian, Llc | $26.54 | $26.54 ( 17th May 2024 ) | 0% |
| Corrections Corporation Of America | $15.03 | $15.03 ( 17th May 2024 ) | 0% |
| Helmerich & Payne Inc | $38.49 | $38.49 ( 17th May 2024 ) | 0% |
| Matador Resources Company | $62.08 | $62.08 ( 17th May 2024 ) | 0% |
The Sandstorm Gold Ltd stock price gained 3.87% on the last trading day (Friday, 17th May 2024), rising from $5.69 to $5.91. During the last trading day the stock fluctuated 2.60% from a day low at $5.76 to a day high of $5.91. The price has fallen in 5 of the last 10 days but is still up by 8.84% 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, 500 thousand more shares were traded than the day before. In total, 2 million shares were bought and sold for approximately $12.31 million.
On May 06, 2024, it was reported that National Bank gave SAND a "Outperform" grade with a "hold" action.
Sandstorm Gold Ltd 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 Sandstorm Gold Ltd:
Sandstorm Gold Ltd. operates as a gold royalty company. The company focuses on acquiring royalties and gold and other metals purchase agreements (streams) from companies that have advanced stage development projects or operating mines. It offers upfront payments for companies to acquire a stream or royalty and receives the right to purchase a percentage of a mine's production for the life of the mine at a fixed price per unit or at a fixed percentage of the spot price. The company has a portfolio of 230 streams and royalties. It primarily has operations in Canada, Mexico, the United States, Mongolia, Burkina Faso, Ecuador, South Africa, Ghana, Botswana, Cote D'Ivoire, Argentina, Brazil, Chile, Peru, Egypt, Ethiopia, Guyana, Paraguay, French Guiana, Turkey, Sweden, Fiji, and Australia. The company was formerly known as Sandstorm Resources Ltd. and changed its name to Sandstorm Gold Ltd. in February 2011. Sandstorm Gold Ltd. was incorporated in 2007 and is headquartered in Vancouver, Canada.
The Riley Exploration-Permian, LLC stock price gained 3.43% on the last trading day (Friday, 17th May 2024), rising from $25.66 to $26.54. During the last trading day the stock fluctuated 4.51% from a day low at $25.57 to a day high of $26.72. The price has fallen in 6 of the last 10 days but is still up by 6.42% 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, 30 thousand more shares were traded than the day before. In total, 178 thousand shares were bought and sold for approximately $4.74 million.
On Apr 09, 2021, it was reported that Roth Capital gave REPX 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 Riley Exploration-Permian, LLC stock to perform well in the short-term.
About Riley Exploration-Permian, LLC:
Riley Exploration Permian, Inc., an independent oil and natural gas company, engages in the acquisition, exploration, development, and production of oil, natural gas, and natural gas liquids in Texas and New Mexico. The company's activities are primarily focused on the San Andres Formation, a shelf margin deposit on the Central Basin Platform and Northwest Shelf. Its acreage is primarily located on contiguous blocks in Yoakum County, Texas; and Lea and Roosevelt Counties, New Mexico. As of September 30, 2021, the company had approximately 31,352 net acres and a total of 77 net producing wells. Riley Exploration Permian, Inc. is headquartered in Oklahoma City, Oklahoma.
The Corrections Corporation of America stock price fell by -0.529% on the last day (Friday, 17th May 2024) from $15.11 to $15.03. During the last trading day the stock fluctuated 1.10% from a day low at $15.03 to a day high of $15.20. The price has risen in 6 of the last 10 days but is still down by -1.51% 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 -305 thousand shares and in total, 467 thousand shares were bought and sold for approximately $7.03 million.
On May 09, 2024, it was reported that Wedbush gave CXW 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 Corrections Corporation of America stock to perform well in the short-term.
About Corrections Corporation of America:
CoreCivic, Inc. owns and operates partnership correctional, detention, and residential reentry facilities in the United States. It operates through three segments: CoreCivic Safety, CoreCivic Community, and CoreCivic Properties. The company provides a range of solutions to government partners that serve the public good through corrections and detention management, a network of residential reentry centers to help address America's recidivism crisis, and government real estate solutions. Its correctional, detention, and residential reentry facilities offer rehabilitation and educational programs, including basic education, faith-based services, life skills and employment training, and substance abuse treatment. As of December 31, 2021, the company owned and operated 46 correctional and detention facilities, 26 residential reentry centers, and 10 properties for lease. The company was founded in 1983 and is based in Brentwood, Tennessee.
The Helmerich & Payne Inc stock price gained 0.733% on the last trading day (Friday, 17th May 2024), rising from $38.21 to $38.49. During the last trading day the stock fluctuated 1.72% from a day low at $38.00 to a day high of $38.65. The price has fallen in 6 of the last 10 days but is still up by 0.03% over the past 2 weeks. Volume fell on the last day by -76 thousand shares and in total, 774 thousand shares were bought and sold for approximately $29.78 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 May 06, 2024, it was reported that Piper Sandler gave HP 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 Helmerich & Payne Inc:
Helmerich & Payne, Inc., together with its subsidiaries, provides drilling services and solutions for exploration and production companies. The company operates through three segments: North America Solutions, Offshore Gulf of Mexico, and International Solutions. The North America Solutions segment drills primarily in Colorado, Louisiana, Montana, Nevada, New Mexico, North Dakota, Ohio, Oklahoma, Pennsylvania, Texas, Utah, West Virginia, and Wyoming. It also focuses on developing, promoting, and commercializing technologies designed to enhance the drilling operations, as well as wellbore quality and placement. The Offshore Gulf of Mexico segment has drilling operations in Louisiana and in U.S. federal waters in the Gulf of Mexico. The International Solutions segment conducts drilling operations in Argentina, Bahrain, Colombia, and the United Arab Emirates. As of September 30, 2021, the company operated a fleet of 236 land rigs in North America; 30 international land rigs; and 7 offshore platform rigs. It also owns, develops, and operates commercial real estate properties. The company's real estate investments include a shopping center comprising approximately 390,000 leasable square feet; and approximately 176 acres of undeveloped real estate located in Tulsa, Oklahoma. Helmerich & Payne, Inc. was founded in 1920 and is headquartered in Tulsa, Oklahoma.
The Matador Resources Company stock price gained 0.697% on the last trading day (Friday, 17th May 2024), rising from $61.65 to $62.08. During the last trading day the stock fluctuated 1.02% from a day low at $61.76 to a day high of $62.39. The price has risen in 6 of the last 10 days but is still down by -1.94% for this period. Volume fell on the last day by -142 thousand shares and in total, 991 thousand shares were bought and sold for approximately $61.55 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 May 13, 2024, it was reported that Truist Financial gave MTDR a "Underperform" 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 Matador Resources Company:
Matador Resources Company, an independent energy company, engages in the exploration, development, production, and acquisition of oil and natural gas resources in the United States. It operates through two segments, Exploration and Production; and Midstream. The company primarily holds interests in the Wolfcamp and Bone Spring plays in the Delaware Basin in Southeast New Mexico and West Texas. It also operates the Eagle Ford shale play in South Texas; and the Haynesville shale and Cotton Valley plays in Northwest Louisiana. In addition, the company conducts midstream operations in support of its exploration, development, and production operations; provides natural gas processing and oil transportation services; and offers oil, natural gas, and produced water gathering services, as well as produced water disposal services to third parties. As of December 31, 2021, its estimated total proved oil and natural gas reserves were 323.4 million barrels of oil equivalent, including 181.3 million stock tank barrels of oil and 852.5 billion cubic feet of natural gas. The company was formerly known as Matador Holdco, Inc. and changed its name to Matador Resources Company in August 2011. Matador Resources Company was founded in 2003 and is headquartered in Dallas, Texas.
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.
