Breakout Stocks of Week 14
NASDAQ was down last week (week 13) by -0.579% ending at 13,138.73 points after falling -76.51 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 Blackrock Floating Rate Income Strategies Fund Inc NYSE:FRA. This stock has had a buy signal since Jan 11, 2021 when the price was $12.23 and is so far up 7.03% to $13.09. Some other companies are on our watchlist to, among these are Affiliated Managers Group Inc NYSE:AMG Babcock NYSE:BW GW Pharmaceuticals Plc NASDAQ:GWPH and Cavco Industries NASDAQ:CVCO which all got a breakout pattern emerging.
| Date | Company | Price | Week 14 |
|---|---|---|---|
| Blackrock Floating Rate Income Strategies Fund Inc | $13.09 | $13.06 | -0.229% |
| Affiliated Managers Group Inc | $152.06 | $152.29 | 0.151% |
| Babcock | $7.89 | $9.70 | 22.94% |
| Gw Pharmaceuticals Plc | $217.80 | $217.26 | -0.248% |
| Cavco Industries | $230.84 | $232.41 | 0.680% |
Blackrock Floating Rate Income Strategies Fund Inc
NYSE:FRAThe Blackrock Floating Rate Income stock price gained 0.770% on the last trading day (Friday, 26th Mar 2021), rising from $12.99 to $13.09. During the last trading day the stock fluctuated 1.08% from a day low at $12.95 to a day high of $13.09. The price has risen in 6 of the last 10 days and is up by 1.24% 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, 88 thousand more shares were traded than the day before. In total, 194 thousand shares were bought and sold for approximately $2.54 million.
Blackrock Floating Rate Income holds several positive signals and is within a weak 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 Blackrock Floating Rate Income Strategies Fund Inc:
BlackRock Floating Rate Income Strategies Fund, Inc. is a close ended fixed income mutual fund launched by BlackRock, Inc. The fund is managed by BlackRock Advisors, LLC. It invests in the fixed income markets of the United States. The fund invests in bonds of companies operating across diversified sectors. It primarily invests in floating rate debt securities and instruments consisting of secured or unsecured senior floating rate loans that are rated below investment grade. BlackRock Floating Rate Income Strategies Fund, Inc. was formed on October 31, 2003 and is domiciled in the United States.
The Affiliated Managers Group Inc stock price gained 2.47% on the last trading day (Friday, 26th Mar 2021), rising from $148.39 to $152.06. 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 2.49% from a day low at $148.48 to a day high of $152.17. The price has risen in 6 of the last 10 days and is up by 4.62% over the past 2 weeks. Volume fell on the last day by -6 thousand shares and in total, 322 thousand shares were bought and sold for approximately $49.03 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 08, 2024, it was reported that Cowen & Co. gave AMG a "Buy" grade with a "hold" action.
Affiliated Managers Group 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 Affiliated Managers Group Inc:
Affiliated Managers Group, Inc., through its affiliates, operates as an asset management company providing investment management services to mutual funds, institutional clients, and high net worth individuals in the United States. It provides advisory or subadvisory services to mutual funds. These funds are distributed to retail and institutional clients directly and through intermediaries, including independent investment advisors, retirement plan sponsors, broker-dealers, major fund marketplaces, and bank trust departments. The company also offers investment products in various investment styles in the institutional distribution channel, including small, small/mid, mid, and large capitalization value and growth equity, and emerging markets. In addition, it offers quantitative, alternative, and fixed income products, and manages assets for foundations and endowments, defined benefit, and defined contribution plans for corporations and municipalities. Affiliated Managers Group provides investment management or customized investment counseling and fiduciary services. Affiliated Managers Group, Inc. was formed in 1993 and is based in West Palm Beach, Florida with additional offices in Prides Crossing, Massachusetts; Stamford, Connecticut; London, United Kingdom; Dubai, United Arab Emirates; Sydney, Australia; Hong Kong; Tokyo, Japan, Zurich, Switzerland and Delaware.
The Babcock stock price gained 7.20% on the last trading day (Friday, 26th Mar 2021), rising from $7.36 to $7.89. During the last trading day the stock fluctuated 7.19% from a day low at $7.37 to a day high of $7.90. The price has been going up and down for this period, and there has been a 6.62% gain for the last 2 weeks. Volume fell on the last day by -514 thousand shares and in total, 1 million shares were bought and sold for approximately $10.39 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 11, 2024, it was reported that Lake Street gave BW a "Buy" grade with a "hold" action.
Babcock 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 Babcock:
Babcock & Wilcox Enterprises, Inc., together with its subsidiaries, provides energy and emissions control solutions to a range of industrial, electrical utility, municipal, and other customers worldwide. It operates through three segments: Babcock & Wilcox Renewable; Babcock & Wilcox Environmental; and Babcock & Wilcox Thermal. The Babcock & Wilcox Renewable segment offers technologies for waste-to-energy, solar construction and installation, and biomass energy systems, as well as black liquor systems for the pulp and paper industry. This segment provides technologies support solutions for diverting waste from landfills to use for power generation and replacing fossil fuels while recovering metals and reducing emissions. The Babcock & Wilcox Environmental segment offers a range of emissions control and environmental technology solutions for utility, waste to energy, biomass, carbon black, and industrial steam generation applications. This segment provides systems for cooling, ash handling, particulate control, nitrogen oxides and sulfur dioxides removal, chemical looping for carbon control, and mercury control. The Babcock & Wilcox Thermal segment offers steam generation equipment; aftermarket parts; and construction, maintenance, and field services for plants in the power generation, oil and gas, and industrial sectors. This segment has an installed equipment for utilities and general industrial applications, including refining, petrochemical, food processing, metals, and others. The company was founded in 1867 and is headquartered in Akron, Ohio.
The GW Pharmaceuticals Plc stock price gained 0.253% on the last trading day (Friday, 26th Mar 2021), rising from $217.25 to $217.80. 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 0.443% from a day low at $216.90 to a day high of $217.86. The price has risen in 7 of the last 10 days and is up by 1.2% 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, 436 thousand more shares were traded than the day before. In total, 975 thousand shares were bought and sold for approximately $210.68 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 GW Pharmaceuticals Plc stock to perform well in the short-term.
About GW Pharmaceuticals Plc:
GW Pharmaceuticals plc, a biopharmaceutical company, together with its subsidiaries, engages in discovering, developing, and commercializing cannabinoid prescription medicines. It operates through three segments: Commercial, Sativex Research and Development, and Pipeline Research and Development. The company primarily offers Sativex, an oromucosal spray for the treatment of spasticity due to multiple sclerosis. It also focuses on the Phase III clinical development program of Sativex for use in the treatment of cancer pain; and Phase 2 trials in other indications, such as neuropathic pain. In addition, the companys product pipeline includes Epidiolex, a treatment for Dravet syndrome and Lennox-Gastaut syndrome, as well as other product candidates in Phase 1 and 2 clinical development for the treatment of glioma, adult epilepsy, type-2 diabetes, and schizophrenia. It operates in the United Kingdom, Europe, the United States, Canada, and Asia. GW Pharmaceuticals plc was founded in 1998 and is based in Cambridge, the United Kingdom.
The Cavco Industries stock price gained 2.19% on the last trading day (Friday, 26th Mar 2021), rising from $225.89 to $230.84. During the last trading day the stock fluctuated 5.04% from a day low at $221.62 to a day high of $232.78. The price has been going up and down for this period, and there has been a 3.09% gain for the last 2 weeks. Volume fell on the last day by -3 thousand shares and in total, 34 thousand shares were bought and sold for approximately $7.87 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 Nov 07, 2023, it was reported that Wedbush gave CVCO 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 Cavco Industries stock to perform well in the short-term.
About Cavco Industries:
Cavco Industries, Inc. designs, produces, and retails manufactured homes primarily in the United States. It operates in two segments, Factory-Built Housing and Financial Services. The company markets its manufactured homes under the Cavco, Fleetwood, Palm Harbor, Nationwide, Fairmont, Friendship, Chariot Eagle, Destiny, Commodore, Colony, Pennwest, R-Anell, Manorwood, and MidCountry brands. It also builds park model RVs; vacation cabins; and factory-built commercial structures, including apartment buildings, condominiums, hotels, workforce housing, schools, and housing for the United States military troops. In addition, the company produces various modular homes, which include single and multi-section ranch, split-level, and Cape Cod style homes, as well as two- and three-story homes, and multi-family units. Further, it provides conforming and non-conforming mortgages and home-only loans to purchasers of various brands of factory-built homes sold by company-owned retail stores, as well as various independent distributors, builders, communities, and developers. Additionally, the company offers property and casualty insurance to owners of manufactured homes. As of April 3, 2022, it operated 45 company-owned retail stores in Oregon, Arizona, Nevada, New Mexico, Texas, Indiana, Oklahoma, Florida, and New York. The company also distributes its homes through a network of independent distribution points in 48 states and Canada; and through planned community operators and residential developers. Cavco Industries, Inc. was founded in 1965 and is headquartered in Phoenix, Arizona.
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.
