Breakout Stocks of Week 47
NASDAQ was down last week (week 46) by -0.693% ending at 15,860.96 points after falling -110.63 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 AusNet Services Ltd ASX:AST. This stock has had a buy signal since Aug 03, 2021 when the price was $1.86 and is so far up 40.32% to $2.61. Some other companies are on our watchlist to, among these are Anand Rayons Limited XBOM:ARL Mindtree Limited NSE:MINDTREE FaZe Holdings Inc. NASDAQ:FAZE and B. Riley Principal 150 Merger Corp. NYSE:BRPM which all got a breakout pattern emerging.
| Date | Company | Price | Week 47 |
|---|---|---|---|
| Ausnet Services Ltd | $2.61 | $2.55 | -2.30% |
| Anand Rayons Limited | ₹183.90 | ₹190.55 | 3.62% |
| Mindtree Limited | ₹4,914.10 | ₹4,839.40 | -1.52% |
| Faze Holdings Inc. | $10.29 | $10.67 | 3.69% |
| B. Riley Principal 150 Merger Corp. | $10.29 | $10.67 | 3.69% |
The AusNet Services Ltd stock price gained 0.97% on the last trading day (Friday, 12th Nov 2021), rising from $2.59 to $2.61. During the last trading day the stock fluctuated 0.577% from a day low at $2.60 to a day high of $2.62. The price has risen in 6 of the last 10 days and is up by 5.67% 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, 594 thousand more shares were traded than the day before. In total, 7 million shares were bought and sold for approximately $17.92 million.
AusNet Services Ltd 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.
The Anand Rayons Limited stock price gained 1.60% on the last trading day (Friday, 12th Nov 2021), rising from ₹181.00 to ₹183.90. During the last trading day the stock fluctuated 5.06% from a day low at ₹181.00 to a day high of ₹190.15. The price has been going up and down for this period, and there has been a 7.61% gain for the last 2 weeks. Volume fell on the last day by -2 thousand shares and in total, 12 thousand shares were bought and sold for approximately ₹2.14 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.
Anand Rayons 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.
The Mindtree Limited stock price gained 0.533% on the last trading day (Friday, 12th Nov 2021), rising from ₹4,888.05 to ₹4,914.10. 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 3.13% from a day low at ₹4,823.00 to a day high of ₹4,974.00. The price has risen in 6 of the last 10 days and is up by 8.87% 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, 358 thousand more shares were traded than the day before. In total, 1 million shares were bought and sold for approximately ₹5.57 billion.
Mindtree 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.
About Mindtree Limited:
Mindtree Limited operates as a technology consulting and IT services company in India and internationally. The company operates through five segments: Retail, CPG and Manufacturing; Banking, Financial Services and Insurance; Communication, Media and Technology; Travel, Transport and Hospitality; and Healthcare. It offers services in the areas of agile, analytics and information management, application development and maintenance, business process and infrastructure management, business technology consulting, cloud, digital business, independent testing, mobility, product engineering, and SAP services. The company also provides consulting services, including customer experience transformation and core modernization, data and intelligence, product and service innovation, and workforce engagement and experience; and customer success services, such as design and innovation, digital marketing and e-commerce, immersive and cognitive experience, digital integration and process automation, product engineering, salesforce, and experience channels. In addition, it offers data and intelligence services comprising data modernization, operations, and management; insights and action; and Internet of Things. Further, the company provides enterprise IT transformation and automation services; and cloud consult, build, operate, data, and security services. It serves banking, capital markets, insurance, communications, media and entertainment, technology, education, retail, consumer packaged goods, manufacturing, travel, hospitality, transportation, logistics and freight, info and professional services, real estate, and healthcare industries. The company was formerly known as Mindtree Consulting Limited and changed its name to Mindtree Limited in March 2008. The company was incorporated in 1999 and is headquartered in Bengaluru, India. Mindtree Limited is a subsidiary of Larsen & Toubro Limited.
The FaZe Holdings Inc. stock price fell by -1.44% on the last day (Friday, 12th Nov 2021) from $10.44 to $10.29. During the last trading day the stock fluctuated 1.85% from a day low at $10.26 to a day high of $10.45. The price has fallen in 6 of the last 10 days and is down by -3.02% 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 -9 thousand shares and in total, 471 thousand shares were bought and sold for approximately $4.84 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 FaZe Holdings Inc. stock to perform well in the short-term.
The B. Riley Principal 150 Merger Corp. stock price fell by -1.44% on the last day (Friday, 12th Nov 2021) from $10.44 to $10.29. During the last trading day the stock fluctuated 1.85% from a day low at $10.26 to a day high of $10.45. The price has fallen in 6 of the last 10 days and is down by -3.02% 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 -11 thousand shares and in total, 469 thousand shares were bought and sold for approximately $4.83 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 B. Riley Principal 150 Merger Corp. stock to perform well in the short-term.
About B. Riley Principal 150 Merger Corp.:
B. Riley Principal 150 Merger Corp. does not have significant operations. It intends to effect a merger, capital stock exchange, asset acquisition, stock purchase, reorganization, or similar other business combination with one or more businesses. The company was incorporated in 2020 and is based in New York, New York. B. Riley Principal 150 Merger Corp. is a subsidiary of B. Riley Financial, Inc.
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.
