Breakout Stocks of Week 5 @ NYSEMKT
NASDAQ was up last week (week 4) by 1.12% ending at 15,628.95 points after gaining 173.59 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 Central Fund of Canada Ltd NYSEMKT:CEF. This stock has had a buy signal since Jan 25, 2024 when the price was $18.57 , but have so far fallen -0.108% to $18.55. Some other companies are on our watchlist to, among these are which all got a breakout pattern emerging.
| Date | Company | Price | Week 5 |
|---|---|---|---|
| Central Fund Of Canada Ltd | $18.55 | $18.45 | -0.539% |
| Aberdeen Asia-pacific Income Fund, Inc | $2.64 | $2.67 | 1.14% |
The Central Fund of Canada Ltd stock price fell by -1.49% on the last day (Friday, 2nd Feb 2024) from $18.83 to $18.55. During the last trading day the stock fluctuated 0.677% from a day low at $18.46 to a day high of $18.58. The price has fallen in 6 of the last 10 days but is still up by 0.05% over the past 2 weeks. Volume has increased on the last day by 565 thousand shares but on falling prices. This may be an early warning and the risk will be increased slightly over the next couple of days. In total, 882 thousand shares were bought and sold for approximately $16.36 million.
Central Fund of Canada Ltd 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 Central Fund of Canada Ltd:
Sprott Physical Gold and Silver Trust is an exchange traded commodity launched and managed by Sprott Asset Management, LP. The fund invests in commodity markets. It invests in London Good Delivery physical gold and silver bullion. Sprott Physical Gold and Silver Trust was formed on October 26, 2017 and is domiciled in Canada.
The Aberdeen Asia-Pacific Income Fund, Inc stock price fell by -1.12% on the last day (Friday, 2nd Feb 2024) from $2.67 to $2.64. During the last trading day the stock fluctuated 2.00% from a day low at $2.63 to a day high of $2.68. The price has risen in 5 of the last 10 days but is still down by -0.38% for this period. Volume has increased on the last day by 486 thousand shares but on falling prices. This may be an early warning and the risk will be increased slightly over the next couple of days. In total, 1 million shares were bought and sold for approximately $3.66 million.
The Aberdeen Asia-Pacific Income Fund, Inc stock holds several negative signals and despite the positive trend, we believe Aberdeen Asia-Pacific Income Fund, Inc will perform weakly in the next couple of days or weeks. Therefore, we hold a negative evaluation of this stock.
About Aberdeen Asia-Pacific Income Fund, Inc:
Abrdn Asia-Pacific Income Fund Inc is a close ended fixed income mutual fund launched and managed by Aberdeen Standard Investments (Asia) Limited. It is co-managed by Aberdeen Standard Investments Australia Limited and Aberdeen Asset Managers Limited. The fund invests in fixed income markets of Asia, Australia, and New Zeland. It primarily invests in debt securities issued by governmental entities, banks, companies, and other entities. Abrdn Asia-Pacific Income Fund Inc was formed on March 14, 1986 and is domiciled in the United States.
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.
