Breakout Stocks of Week 45
NASDAQ was up last week (week 44) by 2.71% ending at 15,498.39 points after gaining 408.19 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 Alphabet Inc. NASDAQ:GOOG. This stock has had a buy signal since Oct 27, 2021 when the price was $2,928.55 , but have so far fallen -94.94% to $148.27. Some other companies are on our watchlist to, among these are PJT Partners Inc NYSE:PJT ProShares UltraPro QQQ NASDAQ:TQQQ Columbia Property Trust Inc NYSE:CXP and Movado Group Inc NYSE:MOV which all got a breakout pattern emerging.
| Date | Company | Price | Week 45 |
|---|---|---|---|
| Alphabet Inc. | $148.27 | $149.24 | 0.655% |
| Pjt Partners Inc | $81.79 | $83.31 | 1.86% |
| Proshares Ultrapro Qqq | $77.58 | $85.28 | 9.93% |
| Columbia Property Trust Inc | $19.17 | $19.16 | -0.0522% |
| Movado Group Inc | $33.30 | $35.85 | 7.66% |
The Google stock price gained 1.47% on the last trading day (Friday, 29th Oct 2021), rising from $146.13 to $148.27. During the last trading day the stock fluctuated 2.37% from a day low at $145.17 to a day high of $148.61. The price has risen in 7 of the last 10 days and is up by 4.66% over the past 2 weeks. Volume fell on the last day by -3 million shares and in total, 29 million shares were bought and sold for approximately $4.28 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.
On Apr 09, 2024, it was reported that Cowen & Co. gave GOOG a "Buy" grade with a "hold" action.
Google holds several positive signals and is considered to be a good choice at current levels. We expect the stock to perform very well in the short term period.
About Alphabet Inc.:
Alphabet Inc. provides various products and platforms in the United States, Europe, the Middle East, Africa, the Asia-Pacific, Canada, and Latin America. It operates through Google Services, Google Cloud, and Other Bets segments. The Google Services segment offers products and services, including ads, Android, Chrome, hardware, Gmail, Google Drive, Google Maps, Google Photos, Google Play, Search, and YouTube. It is also involved in the sale of apps and in-app purchases and digital content in the Google Play store; and Fitbit wearable devices, Google Nest home products, Pixel phones, and other devices, as well as in the provision of YouTube non-advertising services. The Google Cloud segment offers infrastructure, platform, and other services; Google Workspace that include cloud-based collaboration tools for enterprises, such as Gmail, Docs, Drive, Calendar, and Meet; and other services for enterprise customers. The Other Bets segment sells health technology and internet services. The company was founded in 1998 and is headquartered in Mountain View, California.
The PJT Partners Inc stock price fell by -0.0489% on the last day (Friday, 29th Oct 2021) from $81.83 to $81.79. During the last trading day the stock fluctuated 1.27% from a day low at $81.35 to a day high of $82.38. The price has risen in 6 of the last 10 days but is still down by -3.07% 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 -24 thousand shares and in total, 133 thousand shares were bought and sold for approximately $10.88 million.
On Mar 26, 2024, it was reported that UBS gave PJT a "Sell" grade with a "downgrade" action.
PJT Partners 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.
About PJT Partners Inc:
PJT Partners Inc., an investment bank, provides various strategic and capital markets advisory, restructuring and special situations, and shareholder advisory services to corporations, financial sponsors, institutional investors, and governments worldwide. It offers advisory services to clients on various transactions, including mergers and acquisitions (M&A), spin-offs, activism defense, contested M&A, joint ventures, minority investments, and divestitures. The company also advises private and public company boards and management teams on strategies for building productive investor relationships with a focus on shareholder engagement; and strategic investor relations; environmental, social, and governance matters; and other investor-related matters. In addition, it provides advisory services related to debt and acquisition financings; structured product offerings; public equity raises, including initial public offering and SPAC offerings; and private capital raises for early and later stage companies, as well as other capital structure related matters. Further, the company offers advisory services in restructurings and recapitalizations; and serving a range of companies, creditors, and financial sponsors on liability management and related capital raise transactions, including exchanges, recapitalizations, reorganizations, debt repurchases, and distressed mergers and acquisitions. Additionally, it provides private fund advisory and fundraising services for a range of investment strategies; and advisory services to GPs and LPs on liquidity and other structured solutions in the secondary market. The company was formerly known as Blackstone Advisory Inc. and changed its name to PJT Partners Inc. in March 2015. PJT Partners Inc. was incorporated in 2014 and is headquartered in New York, New York.
The TQQQ ETF price gained 1.48% on the last trading day (Friday, 29th Oct 2021), rising from $76.45 to $77.58. It has now gained 5 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 ETF fluctuated 4.45% from a day low at $74.39 to a day high of $77.70. The price has risen in 8 of the last 10 days and is up by 14.33% 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, 2 million more shares were traded than the day before. In total, 67 million shares were bought and sold for approximately $4.91 billion.
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 Columbia Property Trust Inc stock price gained 0.157% on the last trading day (Friday, 29th Oct 2021), rising from $19.14 to $19.17. During the last trading day the stock fluctuated 0.366% from a day low at $19.11 to a day high of $19.18. The price has risen in 5 of the last 10 days and is up by 0.16% 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, 587 thousand more shares were traded than the day before. In total, 1 million shares were bought and sold for approximately $38.44 million.
On Apr 12, 2021, it was reported that BMO Capital gave CXP a "Outperform" 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 Columbia Property Trust Inc stock to perform well in the short-term.
About Columbia Property Trust Inc:
Columbia Property Trust, Inc is an equity real estate investment trust. The firm invests in the real estate markets of the United States. It focuses on investing in and managing high-quality commercial office properties. The firm was formerly known as Wells Real Estate Investment Trust II Inc. Columbia Property Trust, Inc was founded in July 2003 and is based in Atlanta, Georgia.
The Movado Group Inc stock price fell by -0.419% on the last day (Friday, 29th Oct 2021) from $33.44 to $33.30. During the last trading day the stock fluctuated 2.91% from a day low at $33.17 to a day high of $34.14. The price has fallen in 6 of the last 10 days and is down by -1.22% for this period. Volume has increased on the last day by 67 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, 150 thousand shares were bought and sold for approximately $4.98 million.
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 Movado Group Inc stock to perform well in the short-term.
About Movado Group Inc:
Movado Group, Inc. designs, sources, markets, and distributes watches worldwide. The company operates in two segments, Watch and Accessory Brands, and Company Stores. It offers its watches under the Movado, Concord, Ebel, Olivia Burton, and MVMT brands, as well as licensed brands, such as Coach, Tommy Hilfiger, HUGO BOSS, Lacoste, Calvin Klein, and Scuderia Ferrari. The company also provides after-sales and shipping services. Its customers include jewelry store chains, department stores, independent regional jewelers, network of independent distributors, online marketplaces, licensors' retail stores, and third-party e-commerce retailers. The company also sells directly to consumers through its e-commerce platforms. As of January 31, 2022, it operated 51 retail outlet locations. The company was formerly known as North American Watch Corporation and changed its name to Movado Group, Inc. in 1996. Movado Group, Inc. was founded in 1961 and is based in Paramus, New Jersey.
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.
