Breakout Stocks of Week 20 @ XLON
NASDAQ was up last week (week 19) by 1.18% ending at 16,346.26 points after gaining 189.94 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 CANETIC RESOURCES TRUST (Foreign) XLON:CNE. This stock has had a buy signal since May 03, 2024 when the price was £168.80 and is so far up 4.74% to £176.80. Some other companies are on our watchlist to, among these are Cembra Money Bank Ag XLON:0QPJ Altisource Residential Corp XLON:RESI City National Corp XLON:CYN and TUI AG XLON:TUI which all got a breakout pattern emerging.
| Date | Company | Price | Week 20 |
|---|---|---|---|
| Canetic Resources Trust (foreign) | £176.80 | £192.40 | 8.82% |
| Cembra Money Bank Ag | £71.70 | £71.95 | 0.349% |
| Altisource Residential Corp | £49.50 | £47.00 | -5.05% |
| City National Corp | £192.50 | £192.50 | 0% |
| Tui Ag | £581.50 | £558.50 | -3.96% |
The CANETIC RESOURCES TRUST (Foreign) stock price gained 3.15% on the last trading day (Friday, 10th May 2024), rising from £171.40 to £176.80. During the last trading day the stock fluctuated 5.56% from a day low at £168.60 to a day high of £177.98. The price has risen in 5 of the last 10 days and is up by 4.74% 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, 239 thousand more shares were traded than the day before. In total, 326 thousand shares were bought and sold for approximately £57.64 million.
CANETIC RESOURCES TRUST (Foreign) 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 CANETIC RESOURCES TRUST (Foreign):
Capricorn Energy PLC operates as an independent oil and gas exploration, development, and production company. The company holds a portfolio of exploration, development, and production assets in the United Kingdom, Israel, Egypt, Mauritania, Mexico, and Suriname. Its activities focused in North West Europe, North and West Africa, and Latin America. The company was formerly known as Cairn Energy PLC and changed its name to Capricorn Energy PLC in December 2021. Capricorn Energy PLC was founded in 1980 and is headquartered in Edinburgh, the United Kingdom.
The Cembra Money Bank Ag stock price gained 1.93% on the last trading day (Friday, 10th May 2024), rising from £70.34 to £71.70. During the last trading day the stock fluctuated 3.28% from a day low at £70.05 to a day high of £72.35. The price has been going up and down for this period, and there has been a -4.34% loss 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, 254 thousand more shares were traded than the day before. In total, 269 thousand shares were bought and sold for approximately £19.26 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 Cembra Money Bank Ag stock to perform well in the short-term period.
The Altisource Residential Corp stock price gained 0.610% on the last trading day (Friday, 10th May 2024), rising from £49.20 to £49.50. During the last trading day the stock fluctuated 7.98% from a day low at £47.60 to a day high of £51.40. The price has risen in 6 of the last 10 days but is still down by -1.79% for this period. Volume fell on the last day by -50 thousand shares and in total, 291 thousand shares were bought and sold for approximately £14.38 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.
Altisource Residential Corp holds several positive signals, but we still don't find these to be enough for a buy candidate. At the current level, it should be considered as a hold candidate (hold or accumulate) in this position whilst awaiting further development.
About Altisource Residential Corp:
Residential Secure Income plc (ReSI) is a real estate investment trust (REIT) with the objective of delivering secure income returns by investing in Shared Ownership and other affordable residential asset classes. ReSI is listed on the premium segment of the Official List of the UK Listing Authority and was admitted to trading on the main market of the London Stock Exchange in July 2017, raising £180 million in its IPO.
The City National Corp stock price gained 0.785% on the last trading day (Friday, 10th May 2024), rising from £191.00 to £192.50. 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 1.04% from a day low at £192.00 to a day high of £194.00. The price has risen in 8 of the last 10 days and is up by 5.48% over the past 2 weeks. Volume fell on the last day by -19 thousand shares and in total, 106 thousand shares were bought and sold for approximately £20.50 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.
City National Corp holds several positive signals, but we still don't find these to be enough for a buy candidate. At the current level, it should be considered as a hold candidate (hold or accumulate) in this position whilst awaiting further development.
About City National Corp:
City Natural Resources High Yield Trust plc is a close ended balanced mutual fund launched and managed by CQS Asset Management Ltd. The fund invests in the public equity and fixed income markets across the globe. It invests in stocks of companies operating in the mining and resources sectors. For its fixed income portion, it primarily invests in mining, resource and industrial fixed interest securities such as preference shares, loan stocks and corporate bonds. The fund benchmarks the performance of its portfolio against the 2/3 Euromoney Global Mining Index and 1/3 Credit Suisse High Yield Index. It was formerly known as Aberdeen Latin American Trust. City Natural Resources High Yield Trust plc was formed in August, 2003 and is domiciled in the United Kingdom.
The TUI AG stock price gained 1.31% on the last trading day (Friday, 10th May 2024), rising from £574.00 to £581.50. During the last trading day the stock fluctuated 7.98% from a day low at £564.00 to a day high of £609.00. The price has risen in 5 of the last 10 days and is up by 1.13% 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, 2 million more shares were traded than the day before. In total, 2 million shares were bought and sold for approximately £1.08 billion.
TUI AG holds several positive signals, but we still don't find these to be enough for a buy candidate. At the current level, it should be considered as a hold candidate (hold or accumulate) in this position whilst awaiting further development.
About TUI AG:
TUI AG, together with its subsidiaries, provides tourism services worldwide. It operates hotels and resorts under the Robinson, Riu, TUI Blue, Blue Diamond, TUI Suneo, and TUI Magic Life brands. The company is also involved in the tour operation and airlines businesses. In addition, it operates cruise liners. The company operates a fleet of 1,600 travel agencies and online portals; 5 airlines with approximately 150 aircraft; and 15 cruise liners, as well as approximately 400 hotels. The company was formerly known as Preussag AG and changed its name to TUI AG in June 2002. TUI AG is headquartered in Hanover, Germany.
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.
