Breakout Stocks of Week 30
NASDAQ was down last week (week 29) by -1.87% ending at 14,427.24 points after falling -274.68 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 American National Insurance Company NASDAQ:ANAT. This stock has had a buy signal since Jul 07, 2021 when the price was $154.21 and is so far up 2.85% to $158.61. Some other companies are on our watchlist to, among these are Nextdoor Holdings, Inc. NYSE:KIND United States Cellular Corporation NYSE:USM Western Asset High Income Opportunity Fund Inc NYSE:HIO and Invesco Credit Opportunities Fund NYSE:VTA which all got a breakout pattern emerging.
| Date | Company | Price | Week 30 |
|---|---|---|---|
| American National Insurance Company | $158.61 | $156.69 | -1.21% |
| Nextdoor Holdings, Inc. | $10.60 | $10.78 | 1.70% |
| United States Cellular Corporation | $36.70 | $36.91 | 0.572% |
| Western Asset High Income Opportunity Fund Inc | $5.20 | $5.22 | 0.385% |
| Invesco Credit Opportunities Fund | $11.60 | $11.39 | -1.81% |
The American National Insurance Company stock price gained 0.590% on the last trading day (Friday, 16th Jul 2021), rising from $157.68 to $158.61. During the last trading day the stock fluctuated 2.36% from a day low at $157.18 to a day high of $160.89. The price has risen in 6 of the last 10 days and is up by 5.24% 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, 16 thousand more shares were traded than the day before. In total, 71 thousand shares were bought and sold for approximately $11.20 million.
American National Insurance Company 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 American National Insurance Company:
American National Insurance Company, together with its subsidiaries, provides various insurance products and services in the United States, the District of Columbia, and Puerto Rico. The companys Life segment offers whole life, term life, universal life, variable universal life, and credit life insurance products. Its Annuity segment provides deferred, variable, and single premium immediate annuity products. The companys Health segment offers medicare supplement, supplemental, stop-loss, credit disability, and medical expense insurance. Its Property and Casualty segment provides personal lines insurance, such as auto, homeowners, boats, motorcycles, recreational vehicles, and other exposures; and commercial lines insurance, which comprise property and casualty coverage tailored for a farm, ranch, vineyard or other agricultural business, contractors, and business within the rural and suburban markets, as well as commercial property, liability, and workers compensation coverages. This segment also offers credit-related property insurance products comprising collateral or creditor protection insurance, and guaranteed auto protection or guaranteed asset protection insurance. The company distributes its products through career and multiple-line agents, independent agents, brokers, financial institutions, and managing general underwriters, as well as through direct marketing channels. American National Insurance Company was founded in 1905 and is headquartered in Galveston, Texas.
The Nextdoor Holdings, Inc. stock price gained 0.665% on the last trading day (Friday, 16th Jul 2021), rising from $10.53 to $10.60. During the last trading day the stock fluctuated 1.90% from a day low at $10.50 to a day high of $10.70. The price has risen in 5 of the last 10 days and is up by 7.51% over the past 2 weeks. Volume fell on the last day by -739 thousand shares and in total, 625 thousand shares were bought and sold for approximately $6.62 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 10, 2022, it was reported that Morgan Stanley gave KIND a "Equal-Weight" 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 Nextdoor Holdings, Inc. stock to perform well in the short-term.
The United States Cellular Corporation stock price gained 1.47% on the last trading day (Friday, 16th Jul 2021), rising from $36.17 to $36.70. During the last trading day the stock fluctuated 1.21% from a day low at $36.32 to a day high of $36.76. The price has fallen in 6 of the last 10 days but is still up by 1.24% over the past 2 weeks. Volume fell on the last day by -56 thousand shares and in total, 108 thousand shares were bought and sold for approximately $3.96 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 22, 2022, it was reported that Wells Fargo gave USM a "Overweight" 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 United States Cellular Corporation stock to perform well in the short-term.
About United States Cellular Corporation:
United States Cellular Corporation provides wireless telecommunications services in the United States. The company offers wireless services, including voice, messaging, and data services. It also provides devices, such as smartphones and other handsets, tablets, wearables, mobile hotspots, routers, and internet of things devices. In addition, the company offers various accessories, such as cases, screen protectors, chargers, and memory cards; and consumer electronics, including audio, home automation, and networking products; as well as offers option to purchase devices and accessories under installment contracts. Further, the company offers roaming, wireless eligible telecommunications carrier, and wireless tower rental services. It serves consumer, business, and government customers with 5.0 million connections, including 4.4 million postpaid, 0.5 million prepaid, and 0.1 million reseller and other connections in 21 states. The company provides its products and services through retail sales, direct sales, third-party national retailers, and independent agents, as well as e-commerce and telesales. The company was incorporated in 1983 and is headquartered in Chicago, Illinois. United States Cellular Corporation is a subsidiary of Telephone and Data Systems, Inc.
The Western Asset High Income Opportunity stock price gained 0.193% on the last trading day (Friday, 16th Jul 2021), rising from $5.19 to $5.20. During the last trading day the stock fluctuated 1.36% from a day low at $5.15 to a day high of $5.22. The price has fallen in 5 of the last 10 days and is down by -1.14% for this period. Volume has increased on the last day along with the price, which is a positive technical sign, and, in total, 964 thousand more shares were traded than the day before. In total, 1 million shares were bought and sold for approximately $6.10 million.
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 Western Asset High Income Opportunity Fund Inc:
Western Asset High Income Opportunity Fund Inc. is a closed ended fixed-income mutual fund launched and managed by Legg Mason Partners Fund Advisor, LLC. It is co-managed by Western Asset Management Company and Western Asset Management Company Limited. The fund invests in the fixed income markets of the United States. It seeks to invest in high-yielding corporate debt obligations. The fund seeks to maintain an average duration of around four years with an average credit quality of B. It benchmarks the performance of its portfolio against the Barclays Capital U.S. Corporate High Yield 2% Issuer Cap Index. The fund was formerly known as High Income Opportunity Fund. Western Asset High Income Opportunity Fund Inc. was formed on November 16, 1993 and is domiciled in the United States.
The Invesco Credit Opportunities Fund fund price gained 0.346% on the last trading day (Friday, 16th Jul 2021), rising from $11.56 to $11.60. During the last trading day the fund fluctuated 1.22% from a day low at $11.48 to a day high of $11.62. The price has fallen in 6 of the last 10 days and is down by -2.77% for this period. Volume has increased on the last day along with the price, which is a positive technical sign, and, in total, 2 million more shares were traded than the day before. In total, 2 million shares were bought and sold for approximately $28.72 million.
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.
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.
