Breakout Stocks of Week 40

NASDAQ was up last week (week 39) by 0.0248% ending at 15,047.70 points after gaining 3.73 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 Sydney Airport Limited ASX:SYD. This stock has had a buy signal since Aug 27, 2021 when the price was $7.87 and is so far up 5.15% to $8.27. Some other companies are on our watchlist to, among these are TriNet Group Inc NYSE:TNET PRA Group NASDAQ:PRAA Monolithic Power Systems NASDAQ:MPWR and Patterson Companies NASDAQ:PDCO which all got a breakout pattern emerging.

Date Company Price Week 40
Sep 24, 2021 Sydney Airport Limited $8.27 $8.21 -0.786%
Sep 24, 2021 Trinet Group Inc $96.37 $96.54 0.176%
Sep 24, 2021 Pra Group $40.87 $42.62 4.28%
Sep 24, 2021 Monolithic Power Systems $517.92 $483.08 -6.73%
Sep 24, 2021 Patterson Companies $30.43 $31.28 2.79%

Sydney Airport Limited

ASX:SYD Strong Buy Candidate Score: 6.90
Strong Buy Candidate Score: 6.90 Sep 24, 2021

The Sydney Airport Limited stock price gained 0.670% on the last trading day (Friday, 24th Sep 2021), rising from $8.22 to $8.27. During the last trading day the stock fluctuated 1.46% from a day low at $8.23 to a day high of $8.35. The price has risen in 5 of the last 10 days and is up by 3.37% 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, 3 million shares were bought and sold for approximately $27.98 million.

Sydney Airport Limited 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.

TriNet Group Inc

NYSE:TNET Strong Buy Candidate Score: 6.62
Strong Buy Candidate Score: 6.62 Sep 24, 2021

TriNet Group IncThe TriNet Group Inc stock price gained 0.563% on the last trading day (Friday, 24th Sep 2021), rising from $95.83 to $96.37. 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 0.91% from a day low at $95.90 to a day high of $96.77. The price has risen in 8 of the last 10 days and is up by 4.75% over the past 2 weeks. Volume fell on the last day by -38 thousand shares and in total, 130 thousand shares were bought and sold for approximately $12.53 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 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.

PRA Group

NASDAQ:PRAA Strong Buy Candidate Score: 5.70
Strong Buy Candidate Score: 5.70 Sep 24, 2021

PRA GroupThe PRA Group stock price gained 0.418% on the last trading day (Friday, 24th Sep 2021), rising from $40.70 to $40.87. During the last trading day the stock fluctuated 1.72% from a day low at $40.66 to a day high of $41.36. The price has risen in 6 of the last 10 days but is still down by -0.22% for this period. Volume has increased on the last day along with the price, which is a positive technical sign, and, in total, 122 thousand more shares were traded than the day before. In total, 299 thousand shares were bought and sold for approximately $12.24 million.

On Jan 13, 2023, it was reported that JMP Securities gave PRAA a "Market Outperform" grade with a "hold" action.

PRA Group 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 PRA Group:
PRA Group, Inc., a financial and business services company, engages in the purchase, collection, and management of portfolios of nonperforming loans in the Americas, Australia, and Europe. It is involved in the purchase of accounts that are primarily the unpaid obligations of individuals owed to credit originators, which include banks and other types of consumer, retail, and auto finance companies. The company also acquires nonperforming loans, including Visa and MasterCard credit cards, private label and other credit cards, installment loans, lines of credit, deficiency balances of various types, legal judgments, and trade payables from banks, credit unions, consumer finance companies, retailers, utilities, automobile finance companies, and other credit originators. In addition, it provides fee-based services on class action claims recoveries and by servicing consumer bankruptcy accounts. The company was formerly known as Portfolio Recovery Associates, Inc. and changed its name to PRA Group, Inc. in October 2014. PRA Group, Inc. was incorporated in 1996 and is headquartered in Norfolk, Virginia.

Monolithic Power Systems

NASDAQ:MPWR Buy Candidate Score: 4.65
Buy Candidate Score: 4.65 Sep 24, 2021

Monolithic Power SystemsThe Monolithic Power Systems stock price gained 0.0328% on the last trading day (Friday, 24th Sep 2021), rising from $517.75 to $517.92. It has now gained 4 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 1.79% from a day low at $512.21 to a day high of $521.40. The price has risen in 7 of the last 10 days and is up by 4.84% over the past 2 weeks. Volume fell on the last day by -173 thousand shares and in total, 201 thousand shares were bought and sold for approximately $104.24 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 08, 2024, it was reported that Needham gave MPWR 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 Monolithic Power Systems stock to perform well in the short-term.

About Monolithic Power Systems:
Monolithic Power Systems, Inc. engages in the design, development, marketing, and sale of semiconductor-based power electronics solutions for the computing and storage, automotive, industrial, communications, and consumer markets. The company provides direct current (DC) to DC integrated circuits (ICs) that are used to convert and control voltages of various electronic systems, such as portable electronic devices, wireless LAN access points, computers and notebooks, monitors, infotainment applications, and medical equipment. It also offers lighting control ICs for backlighting that are used in systems, which provide the light source for LCD panels in notebook computers, monitors, car navigation systems, and televisions, as well as for general illumination products. The company sells its products through third-party distributors and value-added resellers, as well as directly to original equipment manufacturers, original design manufacturers, electronic manufacturing service providers, and other end customers in China, Taiwan, Europe, South Korea, Southeast Asia, Japan, the United States, and internationally. Monolithic Power Systems, Inc. was incorporated in 1997 and is headquartered in Kirkland, Washington.

Patterson Companies

NASDAQ:PDCO Buy Candidate Score: 3.60
Buy Candidate Score: 3.60 Sep 24, 2021

Patterson CompaniesThe Patterson Companies stock price gained 0.0658% on the last trading day (Friday, 24th Sep 2021), rising from $30.41 to $30.43. During the last trading day the stock fluctuated 1.09% from a day low at $30.18 to a day high of $30.51. The price has fallen in 7 of the last 10 days and is down by -5.5% for this period. Volume fell on the last day by -137 thousand shares and in total, 318 thousand shares were bought and sold for approximately $9.69 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 29, 2024, it was reported that Piper Sandler gave PDCO a "Neutral" grade with a "downgrade" 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 Patterson Companies stock to perform well in the short-term.

About Patterson Companies:
Patterson Companies, Inc. engages in distribution of dental and animal health products in the United States, the United Kingdom, and Canada. The company operates through three segments: Dental, Animal Health, and Corporate segments. The Dental segment offers consumable products, including infection control, restorative materials, and instruments; basic and advanced technology and dental equipment; practice optimization solutions, such as practice management software, e-commerce, revenue cycle management, patient engagement solutions, and clinical and patient education systems. It also provides a range of related services comprising software and design services, maintenance and repair, and equipment financing. The Animal Health segment distributes biologicals, pharmaceuticals, vaccines, parasiticides, diagnostics, prescription and non-prescription diets, nutritional's, consumable supplies, equipment, and software, as well as value-added services. This segment also provides private label portfolio of products to veterinarians, producers, and retailers under the Aspen, First Companion, and Patterson Veterinary brands. The Corporate segment offers customer financing services; and sells other miscellaneous products. It serves dentists, laboratories, institutions, other healthcare professionals, veterinarians, other animal health professionals, production animal operators, and animal health product retailers. The company was formerly known as Patterson Dental Company and changed its name to Patterson Companies, Inc. in June 2004. Patterson Companies, Inc. was founded in 1877 and is headquartered in Saint Paul, Minnesota.

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