Breakout Stocks of Week 39
NASDAQ was down last week (week 38) by -0.473% ending at 15,043.97 points after falling -71.52 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 TriNet Group Inc NYSE:TNET. This stock has had a buy signal since Jul 23, 2021 when the price was $73.31 and is so far up 27.75% to $93.65. Some other companies are on our watchlist to, among these are L3Harris Technologies, Inc. NYSE:LHX Eagle Bancorp NASDAQ:EGBN Automatic Data Processing NASDAQ:ADP and Brookfield Renewable Powerr Fund NYSE:BEP which all got a breakout pattern emerging.
| Date | Company | Price | Week 39 |
|---|---|---|---|
| Trinet Group Inc | $93.65 | $96.37 | 2.90% |
| L3harris Technologies, Inc. | $222.46 | $223.49 | 0.463% |
| Eagle Bancorp | $54.08 | $55.16 | 2.00% |
| Automatic Data Processing | $198.67 | $202.22 | 1.79% |
| Brookfield Renewable Powerr Fund | $38.97 | $38.21 | -1.95% |
The TriNet Group Inc stock price gained 0.300% on the last trading day (Friday, 17th Sep 2021), rising from $93.37 to $93.65. 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 1.65% from a day low at $93.19 to a day high of $94.73. The price has risen in 5 of the last 10 days and is up by 1.02% 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, 359 thousand more shares were traded than the day before. In total, 508 thousand shares were bought and sold for approximately $47.58 million.
On Mar 04, 2024, it was reported that Needham gave TNET a "Buy" grade with a "hold" action.
TriNet Group 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 TriNet Group Inc:
TriNet Group, Inc. provides human resources (HR) solutions, payroll services, employee benefits, and employment risk mitigation services for small and midsize businesses in the United States. The company offers multi-state payroll processing and tax administration; employee benefits programs, including health insurance and retirement plans; workers compensation insurance and claims management; employment and benefits law compliance; and other HR related services. It serves clients in various industries, including technology, professional services, financial services, life sciences, not-for-profit, property management, retail, manufacturing, and hospitality. The company sells its solutions through its direct sales organization. TriNet Group, Inc. was incorporated in 1988 and is headquartered in Dublin, California.
The L3Harris Technologies, Inc. stock price gained 0.647% on the last trading day (Friday, 17th Sep 2021), rising from $221.03 to $222.46. During the last trading day the stock fluctuated 1.34% from a day low at $220.67 to a day high of $223.62. The price has fallen in 6 of the last 10 days and is down by -5% for this period. Volume has increased on the last day along with the price, which is a positive technical sign, and, in total, 790 thousand more shares were traded than the day before. In total, 2 million shares were bought and sold for approximately $492.78 million.
On Dec 15, 2023, it was reported that Deutsche Bank gave LHX a "Buy" grade with a "upgrade" 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 L3Harris Technologies, Inc.:
L3Harris Technologies, Inc., an aerospace and defense technology company, provides mission-critical solutions for government and commercial customers worldwide. The company's Integrated Mission Systems segment provides multi-mission intelligence, surveillance, and reconnaissance (ISR) systems; and communication systems, as well as fleet management support, sensor development, modification, and periodic depot maintenance services for ISR and airborne missions. It also manufactures and integrates mission systems for maritime platforms, such as signals intelligence and multi-intelligence platforms; unmanned surface and undersea autonomous solutions; and power and ship control systems and other electronic and electrical products and systems. In addition, this segment offers advanced electro-optical and infrared solutions. Its Space and Airborne Systems segment offers space payloads, sensors, and full-mission solutions; classified intelligence and cyber defense solutions; mission avionics; and electronic warfare systems. The company's Communication Systems segment provides tactical communications; broadband secured mobile networked communication equipment, including airborne, space, and surface data link terminals, ground stations, and transportable tactical satellite communication (SATCOM) systems for use in manned aircraft, unmanned aerial vehicles, and naval ships; and helmet and weapon mounted integrated night vision systems. This segment also offers radios, systems applications, and equipment for critical public safety and professional communications; and SATCOM terminals and battlefield management networks. Its Aviation Systems segment offers defense aviation products; commercial pilot training; and mission networks solutions for air traffic management. The company was formerly known as Harris Corporation and changed its name to L3Harris Technologies, Inc. in June 2019. L3Harris Technologies, Inc. was founded in 1895 and is headquartered in Melbourne, Florida.
The Eagle Bancorp stock price gained 0.408% on the last trading day (Friday, 17th Sep 2021), rising from $53.86 to $54.08. During the last trading day the stock fluctuated 2.46% from a day low at $53.39 to a day high of $54.70. The price has fallen in 7 of the last 10 days and is down by -5.04% for this period. Volume has increased on the last day along with the price, which is a positive technical sign, and, in total, 378 thousand more shares were traded than the day before. In total, 476 thousand shares were bought and sold for approximately $25.77 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 Eagle Bancorp:
Eagle Bancorp, Inc. operates as the bank holding company for EagleBank that provides commercial and consumer banking services primarily in the United States. The company also offers various commercial and consumer lending products comprising commercial loans for working capital, equipment purchases, real estate lines of credit, and government contract financing; asset based lending and accounts receivable financing; construction and commercial real estate loans; business equipment financing; consumer home equity lines of credit, personal lines of credit, and term loans; consumer installment loans, such as auto and personal loans; personal credit cards; and residential mortgage loans. In addition, it provides online and mobile banking services; and other services, including cash management services, business sweep accounts, lock boxes, remote deposit captures, account reconciliation services, merchant card services, safety deposit boxes, and automated clearing house origination, as well as after-hours depositories and ATM services. Further, the company offers insurance products and services through a referral program. The company serves sole proprietors, small and medium-sized businesses, partnerships, corporations, non-profit organizations and associations, and individuals, as well as investors. As of December 31, 2021, it operated seventeen banking offices comprising 6 in Suburban Maryland, 5 in the District of Columbia, and 6 in Northern Virginia. Eagle Bancorp, Inc. was incorporated in 1997 and is headquartered in Bethesda, Maryland.
The Automatic Data Processing stock price gained 0.136% on the last trading day (Friday, 17th Sep 2021), rising from $198.40 to $198.67. During the last trading day the stock fluctuated 1.20% from a day low at $197.42 to a day high of $199.78. The price has fallen in 6 of the last 10 days and is down by -3.81% 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, 3 million shares were bought and sold for approximately $611.41 million.
On Mar 26, 2024, it was reported that RBC Capital gave ADP a "Sector Perform" 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 Automatic Data Processing:
Automatic Data Processing, Inc. provides cloud-based human capital management solutions worldwide. It operates in two segments, Employer Services and Professional Employer Organization (PEO). The Employer Services segment offers strategic, cloud-based platforms, and human resources (HR) outsourcing solutions. Its offerings include payroll, benefits administration, talent management, HR management, workforce management, insurance, retirement, and compliance services. The PEO Services segment provides HR outsourcing solutions to small and mid-sized businesses through a co-employment model. This segment offers benefits package, protection and compliance, talent engagement, comprehensive outsourcing, and recruitment process outsourcing services. The company was founded in 1949 and is headquartered in Roseland, New Jersey.
The Brookfield Renewable Powerr Fund stock price gained 0.776% on the last trading day (Friday, 17th Sep 2021), rising from $38.67 to $38.97. During the last trading day the stock fluctuated 1.61% from a day low at $38.40 to a day high of $39.02. The price has fallen in 7 of the last 10 days and is down by -5.92% for this period. Volume has increased on the last day along with the price, which is a positive technical sign, and, in total, 319 thousand more shares were traded than the day before. In total, 605 thousand shares were bought and sold for approximately $23.58 million.
On Sep 25, 2023, it was reported that Raymond James gave BEP a "Strong Buy" grade with a "upgrade" 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 Brookfield Renewable Powerr Fund:
Brookfield Renewable Partners L.P. owns a portfolio of renewable power generating facilities primarily in North America, Colombia, Brazil, Europe, India, and China. The company generates electricity through hydroelectric, wind, solar, distributed generation, pumped storage, cogeneration, and biomass sources. Its portfolio consists of approximately 21,000 megawatts of installed capacity. Brookfield Renewable Partners Limited operates as the general partner of Brookfield Renewable Partners L.P. The company was formerly known as Brookfield Renewable Energy Partners L.P. and changed its name to Brookfield Renewable Partners L.P. in May 2016. Brookfield Renewable Partners L.P. was founded in 1999 and is headquartered in Hamilton, Bermuda.
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.
