Breakout Stocks of Week 22
NASDAQ was up last week (week 21) by 0.305% ending at 13,470.99 points after gaining 41.01 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 Dime Community Bancshares NASDAQ:DCOM. This stock has had a buy signal since Feb 16, 2021 when the price was $27.03 and is so far up 31.71% to $35.60. Some other companies are on our watchlist to, among these are Veritiv Corporation NYSE:VRTV First Trust Exchange-Traded Fund III - First Trust Municipal High Income ETF NASDAQ:FMHI Kadant Inc NYSE:KAI and Woodward NASDAQ:WWD which all got a breakout pattern emerging.
| Date | Company | Price | Week 22 |
|---|---|---|---|
| Dime Community Bancshares | $35.60 | $34.71 | -2.50% |
| Veritiv Corporation | $50.19 | $61.42 | 22.37% |
| First Trust Exchange-traded Fund Iii - First Trust... | $54.84 | $55.06 | 0.415% |
| Kadant Inc | $167.16 | $168.02 | 0.514% |
| Woodward | $121.53 | $127.18 | 4.65% |
The Dime Community Bancshares stock price gained 1.77% on the last trading day (Friday, 21st May 2021), rising from $34.98 to $35.60. 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 2.58% from a day low at $34.89 to a day high of $35.79. The price has been going up and down for this period, and there has been a 2.89% 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, 38 thousand more shares were traded than the day before. In total, 218 thousand shares were bought and sold for approximately $7.77 million.
On May 02, 2022, it was reported that Raymond James gave DCOM a "Strong Buy" grade with a "hold" action.
Dime Community Bancshares 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 Dime Community Bancshares:
Dime Community Bancshares, Inc. operates as the holding company for Dime Community Bank that provides various commercial banking and financial services. It accepts time, savings, and demand deposits from the businesses, consumers, and local municipalities. The company also offers commercial real estate loans; multi-family mortgage loans; residential mortgage loans; secured and unsecured commercial and consumer loans; home equity loans; and construction and land loans. In addition, it invests in Federal Home Loan Bank, Federal National Mortgage Association, Government National Mortgage Association, and Federal Home Loan Mortgage Corporation mortgage-backed securities, collateralized mortgage obligations, and other asset backed securities; U.S. Treasury securities; New York state and local municipal obligations; U.S. government-sponsored enterprise securities; and corporate bonds. Further, the company offers certificate of deposit account registry services and insured cash sweep programs; merchant credit and debit card processing, automated teller machines, cash management services, lockbox processing, online banking services, remote deposit capture, safe deposit boxes, and individual retirement accounts; investment products and services through a third-party broker dealer; and title insurance broker services. As of December 31, 2021, it operated 60 branch locations throughout Long Island and the New York City boroughs of Brooklyn, Queens, Manhattan, and the Bronx. Dime Community Bancshares, Inc. was founded in 1910 and is headquartered in Hauppauge, New York.
The Veritiv Corporation stock price gained 7.15% on the last trading day (Friday, 21st May 2021), rising from $46.84 to $50.19. During the last trading day the stock fluctuated 7.32% from a day low at $47.20 to a day high of $50.66. The price has been going up and down for this period, and there has been a 3.76% 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, 54 thousand more shares were traded than the day before. In total, 182 thousand shares were bought and sold for approximately $9.12 million.
Veritiv 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 Veritiv Corporation:
Veritiv Corporation operates as a business-to-business provider of value-added packaging products and services, as well as facility solutions, print, and publishing products and services in the United States and internationally. The company operates through four segments: Packaging, Facility Solutions, Print, and Publishing and Print Management (Publishing). The Packaging segment provides packaging product materials within flexible, corrugated and fiber, ancillary packaging, rigid, and equipment categories. The Facility Solutions segment sources and sells cleaning, break-room, and other supplies in various product categories that include towels and tissues, food service, personal protective equipment, cleaning chemicals, and skincare, as well as re-merchandising, budgeting and compliance reporting, and inventory management services. The Print segment sells and distributes commercial printing, writing, copying, digital, specialty products, and graphics consumables. The Publishing segment sells and distributes coated and uncoated commercial printing papers to publishers, retailers, converters, printers, and specialty businesses for use in magazines, catalogs, books, directories, gaming, couponing, retail inserts, and direct mail. This segment also provides print management, procurement, and supply chain management solutions. The company also provides transportation and warehousing solutions. It serves manufacturing, food and beverage, wholesale and retail, healthcare, transportation, property management, higher education, entertainment and hospitality, commercial printing, and publishing sectors. As of December 31, 2021, the company operated 115 distribution centers. Veritiv Corporation was incorporated in 2013 and is headquartered in Atlanta, Georgia.
First Trust Exchange-Traded Fund III - First Trust Municipal High Income ETF
NASDAQ:FMHIThe First Trust Exchange-Traded Fund III - ETF price gained 0.0630% on the last trading day (Friday, 21st May 2021), rising from $54.80 to $54.84. During the last trading day the ETF fluctuated 0.245% from a day low at $54.82 to a day high of $54.96. The price has risen in 7 of the last 10 days and is up by 0.4% 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, 867 more shares were traded than the day before. In total, 45 thousand shares were bought and sold for approximately $2.49 million.
First Trust Exchange-Traded Fund III - 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.
The Kadant Inc stock price gained 1.90% on the last trading day (Friday, 21st May 2021), rising from $164.05 to $167.16. During the last trading day the stock fluctuated 4.20% from a day low at $165.15 to a day high of $172.09. The price has fallen in 7 of the last 10 days and is down by -9.92% for this period. Volume fell on the last day by -48 thousand shares and in total, 42 thousand shares were bought and sold for approximately $6.95 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.
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 Kadant Inc:
Kadant Inc. supplies technologies and engineered systems worldwide. It operates through three segments: Flow Control, Industrial Processing, and Material Handling. The Flow Control segment develops, manufactures, and markets fluid-handling systems and equipment, such as rotary joints, syphons, turbulator bars, expansion joints, and engineered steam and condensate systems; and doctoring, cleaning, and filtration systems and related consumables, consisting of doctor systems and holders, doctor blades, shower and fabric-conditioning systems, formation systems, and water-filtration systems. The Industrial Processing segment develops, manufactures, and markets ring and rotary debarkers, stranders, chippers, logging machinery, industrial automation and control systems, recycling and approach flow systems, and virgin pulping process equipment for use in the packaging, tissue, wood products, and alternative fuel industries. The Material Handling segment offers conveying and vibratory equipment, and balers and related equipment; and manufactures and sells biodegradable absorbent granules for carriers in as carriers in agricultural, home lawn and garden, professional lawn, turf, and ornamental applications, as well as for oil and grease absorption. The company was formerly known as Thermo Fibertek Inc. and changed its name to Kadant Inc. in July 2001. Kadant Inc. was incorporated in 1991 and is headquartered in Westford, Massachusetts.
The Woodward stock price gained 0.771% on the last trading day (Friday, 21st May 2021), rising from $120.60 to $121.53. During the last trading day the stock fluctuated 4.90% from a day low at $117.24 to a day high of $122.98. The price has fallen in 6 of the last 10 days and is down by -6.47% for this period. Volume has increased on the last day along with the price, which is a positive technical sign, and, in total, 8 thousand more shares were traded than the day before. In total, 160 thousand shares were bought and sold for approximately $19.50 million.
On Apr 09, 2024, it was reported that Cowen & Co. gave WWD a "Buy" 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 Woodward stock to perform well in the short-term.
About Woodward:
Woodward, Inc. designs, manufactures, and services control solutions for the aerospace and industrial markets worldwide. The company operates through two segments: Aerospace and Industrial. The Aerospace segment provides fuel pumps, metering units, actuators, air valves, specialty valves, fuel nozzles, and thrust reverser actuation systems for turbine engines and nacelles, and flight deck controls, actuators, servocontrols, motors, and sensors for aircraft. These products are used on commercial and private aircraft and rotorcraft, as well as on military fixed-wing aircraft and rotorcraft, guided weapons, and other defense systems. It also provides aftermarket maintenance, repair and overhaul, and other services to commercial airlines, repair facilities, military depots, third party repair shops, and other end users. This segment sells its products to original equipment manufacturers (OEMs), tier-one suppliers, and various contractors, as well as through aftermarket sales of components, such as provisioning spares or replacements, and spare parts. The Industrial segment offers actuators, valves, pumps, fuel injection systems, solenoids, ignition systems, speed controls, electronics and software, and sensors. These products are used on industrial gas turbines, steam turbines, compressors, and reciprocating engines. This segment sells its aftermarket products, and other related services to OEMs through an independent network of distributors, as well as directly to end users. The company was founded in 1870 and is headquartered in Fort Collins, Colorado.
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.
