Breakout Stocks of Week 25
NASDAQ was up last week (week 24) by 1.85% ending at 14,069.42 points after gaining 254.93 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 Innoviva, Inc NASDAQ:INVA. This stock has had a buy signal since Jun 11, 2021 when the price was $12.60 , but have so far fallen 0% to $12.60. Some other companies are on our watchlist to, among these are Arconic Inc NYSE:ARNC PPD, Inc. NASDAQ:PPD Ross Stores NASDAQ:ROST and CDW Corporation NASDAQ:CDW which all got a breakout pattern emerging.
| Date | Company | Price | Week 25 |
|---|---|---|---|
| Innoviva, Inc | $12.60 | $13.33 | 5.79% |
| Arconic Inc | $38.00 | $34.31 | -9.71% |
| Ppd, Inc. | $46.58 | $46.38 | -0.429% |
| Ross Stores | $120.08 | $115.26 | -4.01% |
| Cdw Corporation | $168.66 | $165.78 | -1.71% |
The Innoviva, Inc stock price gained 1.45% on the last trading day (Friday, 11th Jun 2021), rising from $12.42 to $12.60. During the last trading day the stock fluctuated 2.22% from a day low at $12.40 to a day high of $12.68. The price has fallen in 7 of the last 10 days and is down by -7.22% for this period. Volume fell on the last day by -342 thousand shares and in total, 798 thousand shares were bought and sold for approximately $10.06 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 Aug 08, 2022, it was reported that Morgan Stanley gave INVA a "Underweight" grade with a "hold" action.
Innoviva, Inc 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 Innoviva, Inc:
Innoviva, Inc. engages in the development and commercialization of pharmaceuticals in the United States and internationally. Its products include RELVAR/BREO ELLIPTA, a once-daily combination medicine consisting of a LABA, vilanterol (VI), an inhaled corticosteroid (ICS), and fluticasone furoate; ANORO ELLIPTA, a once-daily medicine combining a long-acting muscarinic antagonist (LAMA), umeclidinium bromide (UMEC), with a LABA, and VI; and TRELEGY ELLIPTA, a once-daily combination medicine consisting of an ICS, LAMA, and LABA. Innoviva, Inc. has a strategic partnership with Sarissa Capital Management LP. The company has long-acting beta2 agonist (LABA) collaboration agreement with Glaxo Group Limited to develop and commercialize once-daily products for the treatment of chronic obstructive pulmonary disease and asthma. The company was formerly known as Theravance, Inc. and changed its name to Innoviva, Inc. in January 2016. Innoviva, Inc. was incorporated in 1996 and is headquartered in Burlingame, California.
The Arconic Inc stock price gained 2.62% on the last trading day (Friday, 11th Jun 2021), rising from $37.03 to $38.00. During the last trading day the stock fluctuated 3.86% from a day low at $37.06 to a day high of $38.49. The price has risen in 6 of the last 10 days and is up by 5.97% over the past 2 weeks. Volume fell on the last day by -251 thousand shares and in total, 572 thousand shares were bought and sold for approximately $21.75 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 Feb 28, 2023, it was reported that Piper Sandler gave ARNC a "Overweight" grade with a "initialise" action.
Arconic 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 Arconic Inc:
Arconic Corporation manufactures and sells aluminum sheets, plates, extrusions, and architectural products in the United States, Canada, China, France, Germany, Hungary, Russia, the United Kingdom, and internationally. It operates through three segments: Rolled Products, Building and Construction Systems, and Extrusions. The Rolled Products segment provides a range of aluminum sheet and plate products for ground transportation, aerospace, industrial, and packaging markets; and roofing, architectural composite panels, ventilated facades and ceiling panels, spacers, culvert pipes, and gutters for building and construction markets. The Building and Construction Systems segment provides various products and building envelope solutions, such as entrances, curtain walls, windows, composite panels, and coil coated sheets for fabricators and glazing subcontractors under the Kawneer, Reynobond, and Reynolux brands. The Extrusions segment offers extruded products, including aerospace shapes, automotive shapes, seamless tubes, hollows, mortar fins, and high strength rods and bars for ground transportation, aerospace, and industrial markets. The company offers its products directly to customers, as well as through distributors. The company was formerly known as Arconic Rolled Products Corporation and changed its name to Arconic Corporation in April 2020. Arconic Corporation was founded in 1888 and is headquartered in Pittsburgh, Pennsylvania.
The PPD, Inc. stock price gained 0.129% on the last trading day (Friday, 11th Jun 2021), rising from $46.52 to $46.58. 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 0.215% from a day low at $46.50 to a day high of $46.60. The price has risen in 7 of the last 10 days and is up by 0.95% over the past 2 weeks. Volume fell on the last day by -470 thousand shares and in total, 945 thousand shares were bought and sold for approximately $44.00 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 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 PPD, Inc. stock to perform well in the short-term.
The Ross Stores stock price gained 1.79% on the last trading day (Friday, 11th Jun 2021), rising from $117.97 to $120.08. During the last trading day the stock fluctuated 1.54% from a day low at $118.27 to a day high of $120.09. The price has fallen in 7 of the last 10 days and is down by -4.44% for this period. Volume fell on the last day by -1 million shares and in total, 3 million shares were bought and sold for approximately $415.00 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 Mar 06, 2024, it was reported that Telsey Advisory gave ROST a "Market Perform" grade with a "hold" action.
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 Ross Stores stock to perform well in the short-term period.
About Ross Stores:
Ross Stores, Inc., together with its subsidiaries, operates off-price retail apparel and home fashion stores under the Ross Dress for Less and dd's DISCOUNTS brand names. Its stores primarily offer apparel, accessories, footwear, and home fashions. The company's Ross Dress for Less stores sell its products at department and specialty stores primarily to middle income households; and dd's DISCOUNTS stores sell its products at department and discount stores for households with moderate income. As of July 5, 2022, it operated approximately 1,950 stores under the Ross Dress for Less and dd's DISCOUNTS name in 40 states, the District of Columbia, and Guam. Ross Stores, Inc. was incorporated in 1957 and is headquartered in Dublin, California.
The CDW Corporation stock price gained 0.747% on the last trading day (Friday, 11th Jun 2021), rising from $167.41 to $168.66. During the last trading day the stock fluctuated 1.07% from a day low at $166.98 to a day high of $168.76. The price has risen in 6 of the last 10 days and is up by 0.89% 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, 204 thousand more shares were traded than the day before. In total, 589 thousand shares were bought and sold for approximately $99.31 million.
On Apr 04, 2024, it was reported that Citigroup gave CDW a "Buy" grade with a "hold" action.
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 CDW Corporation stock to perform well in the short-term period.
About CDW Corporation:
CDW Corporation provides information technology (IT) solutions in the United States, the United Kingdom, and Canada. It operates through three segments: Corporate, Small Business, and Public. The company offers discrete hardware and software products and services, as well as integrated IT solutions, including on-premise, hybrid, and cloud capabilities across data center and networking, digital workspace, and security. Its hardware products comprise notebooks/mobile devices, network communications, desktop computers, video monitors, enterprise and data storage, and others; and software products consists of application suites, security, virtualization, operating systems, and network management. The company also provides advisory and design, software development, implementation, managed, professional, configuration, and telecom services, as well as warranties; mission critical software, systems, and network solutions; and implementation and installation, and repair services to its customers through various third-party service providers. It serves government, education, and healthcare customers; and small, medium, and large business customers. The company was founded in 1984 and is headquartered in Vernon Hills, Illinois.
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.
