Breakout Stocks of Week 16
NASDAQ was up last week (week 15) by 3.12% ending at 13,900.19 points after gaining 420.08 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 Korn/Ferry International NYSE:KFY. This stock has had a buy signal since Nov 02, 2020 when the price was $30.68 and is so far up 115.06% to $65.98. Some other companies are on our watchlist to, among these are Prospect Capital Corporation NASDAQ:PSEC Mohawk Industries Inc NYSE:MHK Customers Bancorp Inc NASDAQ:CUBI and Turning Point Brands Inc NYSE:TPB which all got a breakout pattern emerging.
| Date | Company | Price | Week 16 |
|---|---|---|---|
| Korn/ferry International | $65.98 | $64.97 | -1.53% |
| Prospect Capital Corporation | $8.00 | $8.05 | 0.625% |
| Mohawk Industries Inc | $202.93 | $204.81 | 0.93% |
| Customers Bancorp Inc | $32.17 | $31.85 | -0.99% |
| Turning Point Brands Inc | $51.34 | $49.81 | -2.98% |
The Korn/Ferry International stock price gained 2.53% on the last trading day (Friday, 9th Apr 2021), rising from $64.35 to $65.98. During the last trading day the stock fluctuated 4.08% from a day low at $63.46 to a day high of $66.05. The price has risen in 7 of the last 10 days and is up by 8.15% 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, 77 thousand more shares were traded than the day before. In total, 408 thousand shares were bought and sold for approximately $26.92 million.
On Feb 29, 2024, it was reported that William Blair gave KFY a "Outperform" grade with a "upgrade" action.
Korn/Ferry International 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 Korn/Ferry International:
Korn Ferry, together with its subsidiaries, provides organizational consulting services worldwide. It operates through four segments: Consulting, Digital, Executive Search, and Recruitment Process Outsourcing (RPO) & Professional Search. The company provides executive search services to recruit board level, chief executive, other senior executive, and general management talent of organizations. It also offers organizational strategy, assessment and succession, leadership and professional development, and total reward services. In addition, the company provides RPO, business project, professional search, and outsource recruiting solutions. Further, the company offers tech-enabled solutions that identify structures, roles, capabilities, and behaviors to drive businesses. It serves public and private companies, and middle market and emerging growth companies, as well as government and non-profit organizations. The company was formerly known as Korn/Ferry International and changed its name to Korn Ferry in January 2019. Korn Ferry was founded in 1969 and is based in Los Angeles, California.
The Prospect Capital Corporation stock price gained 0.251% on the last trading day (Friday, 9th Apr 2021), rising from $7.98 to $8.00. It has now gained 6 days in a row. It is not often that stocks manage to gain so many days in a row, and falls for a day or two should be expected. During the last trading day the stock fluctuated 1.01% from a day low at $7.96 to a day high of $8.04. The price has risen in 8 of the last 10 days and is up by 3.9% 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, 457 thousand more shares were traded than the day before. In total, 2 million shares were bought and sold for approximately $16.91 million.
Prospect Capital 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 Prospect Capital Corporation:
Prospect Capital Corporation is a business development company. It specializes in middle market, mature, mezzanine finance, later stage, emerging growth, leveraged buyouts, refinancing, acquisitions, recapitalizations, turnaround, growth capital, development, capital expenditures and subordinated debt tranches of collateralized loan obligations, cash flow term loans, market place lending and bridge transactions. It also makes real estate investments particularly in multi-family residential real estate asset class. The fund makes secured debt, senior debt, senior and secured term loans, unitranche debt, first-lien and second lien, private debt, private equity, mezzanine debt, and equity investments in private and microcap public businesses. It focuses on both primary origination and secondary loans/portfolios and invests in situations like debt financings for private equity sponsors, acquisitions, dividend recapitalizations, growth financings, bridge loans, cash flow term loans, real estate financings/investments. It also focuses on investing in small-sized and medium-sized private companies rather than large public companies. The fund typically invests across all industry sectors, with a particular expertise in the energy and industrial sectors. It invests in aerospace and defense, chemicals, conglomerate services, consumer services, ecological, electronics, financial services, machinery, manufacturing, media, pharmaceuticals, retail, software, specialty minerals, textiles and leather, transportation, oil and gas production, coal production, materials, industrials, consumer discretionary, information technology, utilities, pipeline, storage, power generation and distribution, renewable and clean energy, oilfield services, healthcare, food and beverage, education, business services, and other select sectors. It prefers to invest in the United States and Canada. The fund seeks to invest between $10 million to $500 million per transaction in companies with EBITDA between $5 million and $150 million, sales value between $25 million and $500 million, and enterprise value between $5 million and $1000 million. It fund also co-invests for larger deals. The fund seeks control acquisitions by providing multiple levels of the capital structure. The fund focuses on sole, agented, club, or syndicated deals.
The Mohawk Industries Inc stock price gained 2.26% on the last trading day (Friday, 9th Apr 2021), rising from $198.45 to $202.93. During the last trading day the stock fluctuated 2.86% from a day low at $197.34 to a day high of $202.97. The price has risen in 6 of the last 10 days and is up by 5.53% 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, 4 thousand more shares were traded than the day before. In total, 447 thousand shares were bought and sold for approximately $90.76 million.
On Apr 29, 2024, it was reported that Jefferies gave MHK a "Hold" grade with a "hold" action.
Mohawk Industries 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 Mohawk Industries Inc:
Mohawk Industries, Inc. designs, manufactures, sources, distributes, and markets flooring products for remodeling and new constructions of residential and commercial spaces in the United States, Europe, Russia, and internationally. It operates through three segments: Global Ceramic, Flooring North America (Flooring NA), and Flooring Rest of the World (Flooring ROW). The Global Ceramic segment provides a range of ceramic tile, porcelain tile, and natural stone products; and sources, markets, and distributes other tile related products. This segment markets and distributes its products under the American Olean, Daltile, Eliane, EmilGroup, KAI, Kerama Marazzi, Marazzi, and Ragno brands. The Flooring NA segment offers floor covering product lines in a range of colors, textures, and patterns, including carpets, carpet tiles, rugs and mats, carpet pads, hardwood, laminate, medium-density fiberboards, luxury vinyl tiles (LVT), and sheet vinyl products. This segment markets and distributes its flooring products under the Aladdin Commercial, Durkan, IVC, Karastan, Mohawk, Mohawk Group, Mohawk Home, Pergo, Portico, and Quick-Step brands. The Flooring ROW segment provides wood flooring and vinyl flooring, as well as laminates, roofing elements, sheet vinyl, LVT, insulation boards, medium-density fiberboards, chipboards, and other woods products under the Feltex, Godfrey Hirst, Hycraft, IVC Commercial, IVC Home, Leoline, Moduleo, Pergo, Quick-Step, and Unilin and Xtratherm brands; and licenses its intellectual property to flooring manufacturers. Mohawk Industries, Inc. was incorporated in 1988 and is headquartered in Calhoun, Georgia.
The Customers Bancorp Inc stock price gained 1.07% on the last trading day (Friday, 9th Apr 2021), rising from $31.83 to $32.17. During the last trading day the stock fluctuated 1.89% from a day low at $31.69 to a day high of $32.29. The price has been going up and down for this period, and there has been a 4.65% gain 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, 13 thousand more shares were traded than the day before. In total, 143 thousand shares were bought and sold for approximately $4.60 million.
On Apr 08, 2024, it was reported that Jefferies gave CUBI a "Buy" grade with a "hold" action.
Customers Bancorp 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 Customers Bancorp Inc:
Customers Bancorp, Inc. operates as the bank holding company for Customers Bank that provides financial products and services to individual consumers, and small and middle market businesses. The company offers deposits products, including checking, savings, MMDA, and other deposits accounts. It offers loan products, including commercial mortgage warehouse loans, multi-family and commercial real estate loans, business banking, small business loans, equipment financing, residential mortgage loans, and installment loans. It also offers traditional banking activities, including mobile phone banking, internet banking, wire transfers, electronic bill payment, lock box services, remote deposit capture services, courier services, merchant processing services, cash vault, controlled disbursements, positive pay, cash management services, such as account reconciliation, collections, and sweep accounts. It operates 12 full-service branches, as well as limited production and administrative offices in Southeastern Pennsylvania, including Bucks, Berks, Chester, Philadelphia, and Delaware Counties; Harrisburg, Pennsylvania; Rye Brook and New York; Hamilton, New Jersey; Boston, Massachusetts; Providence, Rhode Island; Portsmouth, New Hampshire; Manhattan and Melville, New York; Washington D.C.; Chicago, Illinois; Dallas, Texas; Orlando, Florida; and Wilmington, North Carolina. Customers Bancorp, Inc. was founded in 1994 and is headquartered in West Reading, Pennsylvania.
The Turning Point Brands Inc stock price fell by -1.27% on the last day (Friday, 9th Apr 2021) from $52.00 to $51.34. During the last trading day the stock fluctuated 2.55% from a day low at $51.02 to a day high of $52.32. The price has been going up and down for this period, and there has been a -1.19% loss for the last 2 weeks. 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 -34 thousand shares and in total, 46 thousand shares were bought and sold for approximately $2.36 million.
On Oct 10, 2022, it was reported that Barclays gave TPB a "Equal-Weight" grade with a "downgrade" 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 Turning Point Brands Inc stock to perform well in the short-term.
About Turning Point Brands Inc:
Turning Point Brands, Inc., together with its subsidiaries, manufactures, markets, and distributes branded consumer products. The company operates through three segments: Zig-Zag Products, Stoker's Products, and NewGen Products. The Zig-Zag Products segment markets and distributes rolling papers, tubes, finished cigars, make-your-own cigar wraps, and related products under the Zig-Zag brand. The Stoker's Products segment manufactures and markets moist snuff tobacco and loose-leaf chewing tobacco products under the Stoker's, Beech-Nut, Durango, Trophy, and Wind River brands. The NewGen Products segment markets and distributes cannabidiol isolate, liquid vapor products, and other products without tobacco and/or nicotine to individual consumers through VaporFi B2C online platform, as well as non-traditional retail through VaporBeast. It sells its products to wholesale distributors and retail merchants in the independent and chain convenience stores, tobacco outlets, food stores, mass merchandising, and drug stores. The company was formerly known as North Atlantic Holding Company, Inc. and changed its name to Turning Point Brands, Inc. in November 2015. Turning Point Brands, Inc. was founded in 1988 and is headquartered in Louisville, Kentucky.
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.
