Breakout Stocks of Week 26
NASDAQ was down last week (week 25) by -0.277% ending at 14,030.38 points after falling -39.04 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 GTT Communications Inc NYSE:GTT. This stock has had a buy signal since Jun 01, 2021 when the price was $1.59 and is so far up 38.36% to $2.20. Some other companies are on our watchlist to, among these are Decarbonization Plus Acquisition Corporation III NASDAQ:DCRC Solid Power, Inc. NASDAQ:SLDP Reynolds Consumer Products Inc NASDAQ:REYN and Progressive Corporation (The) NYSE:PGR which all got a breakout pattern emerging.
| Date | Company | Price | Week 26 |
|---|---|---|---|
| Gtt Communications Inc | $2.20 | $3.09 | 40.45% |
| Decarbonization Plus Acquisition Corporation Iii | $10.60 | $10.50 | -0.94% |
| Solid Power, Inc. | $10.60 | $10.50 | -0.94% |
| Reynolds Consumer Products Inc | $29.82 | $29.97 | 0.503% |
| Progressive Corporation (the) | $92.31 | $96.85 | 4.92% |
The GTT Communications Inc stock price fell by -7.56% on the last day (Friday, 18th Jun 2021) from $2.38 to $2.20. During the last trading day the stock fluctuated 9.37% from a day low at $2.15 to a day high of $2.35. The price has fallen in 8 of the last 10 days and is down by -26.17% for this period. 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 -2 million shares and in total, 2 million shares were bought and sold for approximately $5.45 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 GTT Communications Inc stock to perform well in the short-term.
About GTT Communications Inc:
GTT Communications, Inc. provides cloud networking services to multinational enterprises, carriers, and government customers. It offers private, public, and hybrid cloud networking; high bandwidth Internet connectivity, IP transit, broadband, and wireless access services; managed equipment, security, and secure access services; and SIP trunking and enterprise PBX services. The companys IP network consists of over 250 points of presence. GTT Communications, Inc. markets its products and services through a direct sales force and independent sales channels. The company was formerly known as Global Telecom & Technology, Inc. and changed its name to GTT Communications, Inc. in January 2014. GTT Communications, Inc. was incorporated in 2005 and is headquartered in McLean, Virginia.
The Decarbonization Plus Acquisition Corp stock price fell by -0.656% on the last day (Friday, 18th Jun 2021) from $10.67 to $10.60. During the last trading day the stock fluctuated 2.18% from a day low at $10.53 to a day high of $10.76. The price has risen in 7 of the last 10 days and is up by 9.05% over the past 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 -827 thousand shares and in total, 942 thousand shares were bought and sold for approximately $9.99 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 Decarbonization Plus Acquisition Corp stock to perform well in the short-term.
The Solid Power, Inc. stock price fell by -0.656% on the last day (Friday, 18th Jun 2021) from $10.67 to $10.60. During the last trading day the stock fluctuated 2.18% from a day low at $10.53 to a day high of $10.76. The price has risen in 7 of the last 10 days and is up by 9.05% over the past 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 -846 thousand shares and in total, 946 thousand shares were bought and sold for approximately $10.03 million.
On Jun 08, 2023, it was reported that Goldman Sachs gave SLDP a "Buy" grade with a "initialise" 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 Solid Power, Inc. stock to perform well in the short-term.
About Solid Power, Inc.:
Solid Power, Inc. focuses on the development and commercialization of all-solid-state battery cells and solid electrolyte materials for the battery-powered electric vehicle market in the United States. The company was founded in 2011 and is headquartered in Louisville, Colorado.
The Reynolds Consumer Products Inc stock price gained 0.101% on the last trading day (Friday, 18th Jun 2021), rising from $29.79 to $29.82. During the last trading day the stock fluctuated 3.04% from a day low at $29.24 to a day high of $30.13. The price has fallen in 6 of the last 10 days and is down by -1.58% for this period. Volume has increased on the last day along with the price, which is a positive technical sign, and, in total, 381 thousand more shares were traded than the day before. In total, 747 thousand shares were bought and sold for approximately $22.28 million.
On Apr 12, 2024, it was reported that Barclays gave REYN a "Underperform" 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 Reynolds Consumer Products Inc stock to perform well in the short-term period.
About Reynolds Consumer Products Inc:
Reynolds Consumer Products Inc. produces and sells products in cooking, waste and storage, and tableware product categories in the United States and internationally. It operates through four segments: Reynolds Cooking & Baking, Hefty Waste & Storage, Hefty Tableware, and Presto Products. The Reynolds Cooking & Baking segment produces foil, disposable aluminum pans, parchment paper, freezer paper, wax paper, butcher paper, plastic wrap, baking cups, oven bags, and slow cooker liners under the Reynolds Wrap, Reynolds KITCHENS, and E-Z Foil brands in the United States, as well as under the ALCAN brand in Canada and under the Diamond brand internationally. The Hefty Waste & Storage segment offers trash bags under the Hefty Ultra Strong and Hefty Strong brands; and food storage bags under the Hefty and Baggies brands. This segment also provides a suite of products, including blue and clear recycling bags, compostable bags, bags made from recycled materials, and the Hefty EnergyBag Program. The Hefty Tableware segment offers disposable and compostable plates, bowls, platters, cups, and cutlery under the Hefty brand. The Presto Products segment primarily sells store brand products in food storage bags, trash bags, reusable storage containers, and plastic wrap categories. Reynolds Consumer Products Inc. offers both branded and store brand products to grocery stores, mass merchants, warehouse clubs, discount chains, dollar stores, drug stores, home improvement stores, military outlets, and eCommerce retailers. The company was founded in 1947 and is headquartered in Lake Forest, Illinois. Reynolds Consumer Products Inc. operates as a subsidiary of Packaging Finance Limited.
The Progressive Corporation (The) stock price gained 0.512% on the last trading day (Friday, 18th Jun 2021), rising from $91.84 to $92.31. During the last trading day the stock fluctuated 2.51% from a day low at $90.22 to a day high of $92.48. The price has fallen in 8 of the last 10 days and is down by -8.02% for this period. Volume has increased on the last day along with the price, which is a positive technical sign, and, in total, 4 million more shares were traded than the day before. In total, 9 million shares were bought and sold for approximately $811.07 million.
On Apr 16, 2024, it was reported that UBS gave PGR a "Neutral" grade with a "hold" action.
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 Progressive Corporation (The):
The Progressive Corporation, an insurance holding company, provides personal and commercial auto, personal residential and commercial property, general liability, and other specialty property-casualty insurance products and related services in the United States. It operates in three segments: Personal Lines, Commercial Lines, and Property. The Personal Lines segment writes insurance for personal autos and recreational vehicles (RV). This segment's products include personal auto insurance; and special lines products, including insurance for motorcycles, ATVs, RVs, watercrafts, snowmobiles, and related products. The Commercial Lines segment provides auto-related primary liability and physical damage insurance, and business-related general liability and property insurance for autos, vans, pick-up trucks, and dump trucks used by small businesses; tractors, trailers, and straight trucks primarily used by regional general freight and expeditor-type businesses, and long-haul operators; dump trucks, log trucks, and garbage trucks used by dirt, sand and gravel, logging, and coal-type businesses; and tow trucks and wreckers used in towing services and gas/service station businesses; as well as non-fleet and airport taxis, and black-car services. The Property segment writes residential property insurance for homeowners, other property owners, and renters, as well as offers personal umbrella insurance, and primary and excess flood insurance. The company also offers policy issuance and claims adjusting services; and acts as an agent to homeowner general liability, workers' compensation insurance, and other products. In addition, it provides reinsurance services. The company sells its products through independent insurance agencies, as well as directly on Internet through mobile devices, and over the phone. The Progressive Corporation was founded in 1937 and is headquartered in Mayfield, Ohio.
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.
