Breakout Stocks of Week 30
NASDAQ was up last week (week 29) by 2.84% ending at 14,836.99 points after gaining 409.75 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 Jul 19, 2021 when the price was $13.30 and is so far up 0.451% to $13.36. Some other companies are on our watchlist to, among these are ResMed Inc NYSE:RMD Nextdoor Holdings, Inc. NYSE:KIND Shenandoah Telecommunications Co NASDAQ:SHEN and Walmart Stores Inc NYSE:WMT which all got a breakout pattern emerging.
| Date | Company | Price | Week 30 |
|---|---|---|---|
| Innoviva, Inc | $13.36 | $14.18 | 6.14% |
| Resmed Inc | $259.83 | $271.80 | 4.61% |
| Nextdoor Holdings, Inc. | $10.78 | $10.56 | -2.04% |
| Shenandoah Telecommunications Co | $52.80 | $52.79 | -0.0189% |
| Walmart Stores Inc | $47.48 | $47.52 | 0.0843% |
The Innoviva, Inc stock price fell by -0.373% on the last day (Friday, 23rd Jul 2021) from $13.41 to $13.36. During the last trading day the stock fluctuated 1.35% from a day low at $13.35 to a day high of $13.53. The price has fallen in 6 of the last 10 days and is down by -0.74% 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 -96 thousand shares and in total, 243 thousand shares were bought and sold for approximately $3.24 million.
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 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 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 ResMed Inc stock price gained 0.87% on the last trading day (Friday, 23rd Jul 2021), rising from $257.59 to $259.83. It has now gained 8 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 0.98% from a day low at $257.73 to a day high of $260.25. The price has risen in 9 of the last 10 days and is up by 4.91% 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, 97 thousand more shares were traded than the day before. In total, 323 thousand shares were bought and sold for approximately $83.86 million.
On Apr 01, 2024, it was reported that Needham gave RMD a "Buy" grade with a "hold" action.
ResMed 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 ResMed Inc:
ResMed Inc. develops, manufactures, distributes, and markets medical devices and cloud-based software applications for the healthcare markets. The company operates in two segments, Sleep and Respiratory Care, and Software as a Service. It offers various products and solutions for a range of respiratory disorders, including technologies to be applied in medical and consumer products, ventilation devices, diagnostic products, mask systems for use in the hospital and home, headgear and other accessories, dental devices, and cloud-based software informatics solutions to manage patient outcomes, as well as provides customer and business processes. The company also provides AirView, a cloud-based system that enables remote monitoring and changing of patients' device settings; myAir, a personalized therapy management application for patients with sleep apnea that provides support, education, and troubleshooting tools for increased patient engagement and improved compliance; U-Sleep, a compliance monitoring solution that enables home medical equipment (HME)to streamline their sleep programs; and connectivity module and propeller solutions. In addition, it offers out-of-hospital software solution, such as Brightree business management software and service solutions to providers of HME, pharmacy, home infusion, orthotics, and prosthetics services; MatrixCare care management and related ancillary solutions to senior living, skilled nursing, life plan communities, home health, home care, and hospice agencies, as well as related accountable care organizations; and HEALTHCAREfirst that offers electronic health record, software, billing and coding services, and analytics for home health and hospice agencies. The company markets its products primarily to sleep clinics, home healthcare dealers, and hospitals through a network of distributors and direct sales force in approximately 140 countries. ResMed Inc. was founded in 1989 and is headquartered in San Diego, California.
The Nextdoor Holdings, Inc. stock price gained 2.47% on the last trading day (Friday, 23rd Jul 2021), rising from $10.52 to $10.78. During the last trading day the stock fluctuated 2.66% from a day low at $10.52 to a day high of $10.80. The price has risen in 5 of the last 10 days and is up by 1.22% 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, 1 million more shares were traded than the day before. In total, 2 million shares were bought and sold for approximately $18.61 million.
On Aug 10, 2022, it was reported that Morgan Stanley gave KIND a "Equal-Weight" grade with a "hold" action.
Nextdoor Holdings, 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.
The Shenandoah Telecommunications Co stock price fell by -0.0757% on the last day (Friday, 23rd Jul 2021) from $52.84 to $52.80. During the last trading day the stock fluctuated 1.16% from a day low at $52.51 to a day high of $53.12. The price has fallen in 6 of the last 10 days and is down by -2.06% for this period. Volume has increased on the last day by 66 thousand shares but on falling prices. This may be an early warning and the risk will be increased slightly over the next couple of days. In total, 256 thousand shares were bought and sold for approximately $13.53 million.
On Mar 04, 2024, it was reported that BWS Financial gave SHEN a "Buy" grade with a "upgrade" 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 Shenandoah Telecommunications Co stock to perform well in the short-term.
About Shenandoah Telecommunications Co:
Shenandoah Telecommunications Company, together with its subsidiaries, provides a range of broadband communication services and cell tower colocation space in the Mid-Atlantic portion of the United States. Its Broadband segment offers broadband, video, and voice services to residential and commercial customers in Virginia, West Virginia, Maryland, Pennsylvania, and Kentucky, via hybrid fiber coaxial cable under the Shentel brand, fiber optic services under the Glo Fiber brand, and fixed wireless network services under the Beam brand name. This segment leases fiber and provides Ethernet and wavelength fiber optic services. In addition, the company offers voice and digital subscriber line telephone services. The company's Tower segment owns 220 cell towers and leases colocation space on the towers. Shenandoah Telecommunications Company was founded in 1902 and is based in Edinburg, Virginia.
The Walmart stock price gained 0.82% on the last trading day (Friday, 23rd Jul 2021), rising from $47.09 to $47.48. During the last trading day the stock fluctuated 1.21% from a day low at $47.00 to a day high of $47.57. The price has risen in 6 of the last 10 days and is up by 1.52% 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, 3 million more shares were traded than the day before. In total, 16 million shares were bought and sold for approximately $752.35 million.
On Feb 22, 2024, it was reported that Barclays gave WMT a "Overweight" 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 Walmart stock to perform well in the short-term period.
About Walmart Stores Inc:
Walmart Inc. engages in the operation of retail, wholesale, and other units worldwide. The company operates through three segments: Walmart U.S., Walmart International, and Sam's Club. It operates supercenters, supermarkets, hypermarkets, warehouse clubs, cash and carry stores, and discount stores; membership-only warehouse clubs; ecommerce websites, such as walmart.com, walmart.com.mx, walmart.ca, flipkart.com, and samsclub.com; and mobile commerce applications. The company offers grocery and consumables, which includes dairy, meat, bakery, deli, produce, dry, chilled or frozen packaged foods, alcoholic and nonalcoholic beverages, floral, snack foods, candy, other grocery items, health and beauty aids, paper goods, laundry and home care, baby care, pet supplies, and other consumable items; and health and wellness products covering pharmacy, over-the-counter drugs and other medical products, and optical and hearing services. It also provides gasoline stations and tobacco; home improvement, outdoor living, gardening, furniture, apparel, jewelry, tools and power equipment, housewares, toys, seasonal items, mattresses, and tire and battery centers; and consumer electronics and accessories, software, video games, office supplies, appliances, and third-party gift cards. In addition, the company offers fuel and financial services and related products, including money orders, prepaid cards, money transfers, and check cashing and bill payment, as well as various types of installment lending. It operates approximately 10,500 stores and various e-commerce websites under 46 banners in 24 countries. The company was formerly known as Wal-Mart Stores, Inc. and changed its name to Walmart Inc. in February 2018. The company was founded in 1945 and is based in Bentonville, Arkansas.
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.
