Breakout Stocks of Week 36
NASDAQ was up last week (week 35) by 2.82% ending at 15,129.50 points after gaining 414.84 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 Macquarie Infrastructure Company NYSE:MIC. This stock has had a buy signal since Aug 20, 2021 when the price was $39.23 and is so far up 1.55% to $39.84. Some other companies are on our watchlist to, among these are Cerevel Therapeutics Holdings, Inc. NASDAQ:CERE ProShares UltraPro QQQ NASDAQ:TQQQ iStar Financial Inc NYSE:STAR and ResMed Inc NYSE:RMD which all got a breakout pattern emerging.
| Date | Company | Price | Week 36 |
|---|---|---|---|
| Macquarie Infrastructure Company | $39.84 | $39.89 | 0.126% |
| Cerevel Therapeutics Holdings, Inc. | $30.34 | $35.19 | 15.99% |
| Proshares Ultrapro Qqq | $72.55 | $75.73 | 4.38% |
| Istar Financial Inc | $26.43 | $25.79 | -2.42% |
| Resmed Inc | $286.91 | $295.80 | 3.10% |
The Macquarie Infrastructure Company stock price gained 0.555% on the last trading day (Friday, 27th Aug 2021), rising from $39.62 to $39.84. During the last trading day the stock fluctuated 0.635% from a day low at $39.62 to a day high of $39.87. The price has risen in 6 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, 222 thousand more shares were traded than the day before. In total, 1 million shares were bought and sold for approximately $40.92 million.
Macquarie Infrastructure Company 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 Macquarie Infrastructure Company:
Macquarie Infrastructure Holdings, LLC, together with its subsidiaries, operates as an energy company that processes and distributes gas, and provides related services to corporations, government agencies, and individual customers. The company distributes and sells synthetic natural gas, liquefied petroleum gas, liquefied natural gas, and renewable natural gas to industrial, commercial, residential, hospitality, military, public sector, and wholesale users. Macquarie Infrastructure Holdings, LLC was founded in 2004 and is based in New York, New York.
The Cerevel Therapeutics Holdings, Inc. stock price gained 1.78% on the last trading day (Friday, 27th Aug 2021), rising from $29.81 to $30.34. It has now gained 6 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 7.68% from a day low at $29.42 to a day high of $31.68. The price has risen in 7 of the last 10 days and is up by 16.92% over the past 2 weeks. Volume fell on the last day by -373 thousand shares and in total, 566 thousand shares were bought and sold for approximately $17.17 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 Dec 07, 2023, it was reported that Piper Sandler gave CERE a "Neutral" grade with a "downgrade" action.
Cerevel Therapeutics Holdings, 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 Cerevel Therapeutics Holdings, Inc.:
Cerevel Therapeutics Holdings, Inc., a clinical-stage biopharmaceutical company, engages in the development of various therapies for neuroscience diseases. It is developing emraclidine, a positive allosteric modulator (PAM) that is in phase 1b clinical trials for the treatment of schizophrenia; and Darigabat, a PAM, which is in Phase 2 proof-of-concept trial in patients with drug-resistant focal onset seizures in epilepsy or focal epilepsy, as well as in phase 1 trial to treat acute anxiety. The company's products also comprise Tavapadon, a selective dopamine D1/D5 partial agonist that is in phase 3 clinical trial for the treatment of early- and late-stage Parkinson's disease; CVL-871, a selective dopamine D1/D5 partial agonist, which is in Phase 2a clinical trial to treat dementia-related apathy; CVL-936, a selective dopamine D3-preferring antagonist, which is in Phase I clinical trial for the treatment of substance use disorder; CVL-354, a selective kappa-opioid receptor antagonist to treat major depressive disorder and substance use disorder; and CVL-047, selective PDE4 inhibitor for the treatment of major depressive disorder and substance use disorder. It is also involved in the development of an M4 agonist program for the treatment of psychosis and related indications; and an LRRK2 inhibitor program to address disease progression in Parkinson's. The company was founded in 2018 and is headquartered in Cambridge, Massachusetts.
The TQQQ ETF price gained 2.92% on the last trading day (Friday, 27th Aug 2021), rising from $70.49 to $72.55. During the last trading day the ETF fluctuated 3.16% from a day low at $70.57 to a day high of $72.80. The price has risen in 7 of the last 10 days and is up by 5.8% over the past 2 weeks. Volume fell on the last day by -7 million shares and in total, 46 million shares were bought and sold for approximately $3.24 billion. 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.
TQQQ holds several positive signals and is considered to be a good choice at current levels. We expect the ETF to perform very well in the short term period.
About ProShares UltraPro QQQ:
The investment seeks daily investment results, before fees and expenses, that correspond to three times (3x) the daily performance of the NASDAQ-100 Index®.
The fund invests in securities and derivatives that ProShare Advisors believes, in combination, should have similar daily return characteristics as three times (3x) the daily return of the index. The index, a modified market capitalization-weighted index, includes 100 of the largest non-financial domestic and international issues listed on the NASDAQ Stock Market. The fund is non-diversified.
The iStar Financial Inc stock price gained 3.57% on the last trading day (Friday, 27th Aug 2021), rising from $25.52 to $26.43. During the last trading day the stock fluctuated 3.36% from a day low at $25.57 to a day high of $26.43. The price has been going up and down for this period, and there has been a 0.3% 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, 113 thousand more shares were traded than the day before. In total, 484 thousand shares were bought and sold for approximately $12.79 million.
On Apr 26, 2022, it was reported that Zacks Investment Research gave STAR a "Hold" grade with a "upgrade" action.
iStar Financial 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 iStar Financial Inc:
iStar Inc. (NYSE: STAR) is focused on reinventing the ground lease sector, unlocking value for real estate owners throughout the country by providing modern, more efficient ground leases on all types of properties. As the founder, investment manager and largest shareholder of Safehold Inc. (NYSE: SAFE), the first publicly traded company to focus on modern ground leases, iStar is helping create a logical new approach to the way real estate is owned, and continues to use its historic strengths in finance and net lease to expand this unique platform. Recognized as a consistent innovator in the real estate markets, iStar specializes in identifying and scaling newly discovered opportunities and has completed more than $40 billion of transactions over the past two decades.
The ResMed Inc stock price gained 0.656% on the last trading day (Friday, 27th Aug 2021), rising from $285.04 to $286.91. During the last trading day the stock fluctuated 1.36% from a day low at $285.18 to a day high of $289.05. The price has risen in 7 of the last 10 days and is up by 4.29% 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, 49 thousand more shares were traded than the day before. In total, 298 thousand shares were bought and sold for approximately $85.45 million.
On Apr 01, 2024, it was reported that Needham gave RMD 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 ResMed Inc stock to perform well in the short-term.
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.
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.
