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Breakout Stocks of Week 48

NASDAQ was up last week (week 47) by 1.24% ending at 16057.44 points after gaining 196.48 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 Meredith Corporation NYSE:MDP. This stock has had a buy signal since Sep 14, 2021 when the price was $41.65 and is so far up 41.42% to $58.90. Some other companies are on our watchlist to, among these are INVESCO MORTGAGE CAPITAL INC NYSE:IVR Dragoneer Growth Opportunities Corp. II NASDAQ:DGNS Bridgetown Holdings Limited NASDAQ:BTWN and Brady Corporation NYSE:BRC which all got a breakout pattern emerging.

Date Company Price Week 48
Nov 19, 2021 Meredith Corporation $58.90 $58.90 0%
Nov 19, 2021 Invesco Mortgage Capital Inc $3.14 $3.08 -1.91%
Nov 19, 2021 Dragoneer Growth Opportunities Corp. Ii $10.06 $9.99 -0.70%
Nov 19, 2021 Bridgetown Holdings Limited $9.97 $9.87 -1.05%
Nov 19, 2021 Brady Corporation $50.29 $50.35 0.12%

Meredith Corporation

NYSE:MDP Buy Candidate Score: 4.88
Buy Candidate Score: 4.88 Nov 19, 2021

Meredith CorporationThe Meredith Corporation stock price gained 0.0680% on the last trading day (Friday, 19th Nov 2021), rising from $58.86 to $58.90. , and 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 day the stock fluctuated 0.43% from a day low at $58.69 to a day high of $58.94. The price has risen in 7 of the last 10 days and is up by 1.2% over the past 2 weeks. Volume fell on the last day by -42 thousand shares and in total, 506 thousand shares were bought and sold for approximately $29.83 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 Nov 12, 2021 "Canaccord Genuity" gave "$3.20 - $3.00" rating for MDP. The price target was set to $58.29+0.2%.

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 Meredith Corporation stock to perform well in the short-term.

About Meredith Corporation:
Meredith Corporation operates as a diversified media company that focuses primarily on the home and family marketplace in the United States. It operates in two segments, Local Media and National Media. The Local Media segment consists of 16 owned television stations, such as 7 CBS affiliates, 5 FOX affiliates, 2 MyNetworkTV affiliates, 1 NBC affiliate, 1 ABC affiliate, and 1 independent station, as well as 1 operated television station. This segment also includes 13 Websites, 13 mobile-optimized Websites, and approximately 40 applications focused on news, sports, and weather-related information. The National Media segment publishes magazines for women. This segment publishes approximately 20 subscription magazines that include Better Homes and Gardens, Parents, Family Circle, Allrecipes, Rachael Ray Every Day, Martha Stewart Living, Shape, and FamilyFun, as well as approximately 140 special interest publications under approximately 90 titles. Its portfolio also includes approximately 50 Websites, 30 mobile-optimized Websites, and 15 applications. In addition, this segment offers digital and customer relationship marketing services, such as specialized marketing products and services to America's companies. Further, it is involved in the provision of a consumer database, as well as custom content; and brand licensing activities and other related operations. The company was founded in 1902 and is headquartered in Des Moines, Iowa.

INVESCO MORTGAGE CAPITAL INC

NYSE:IVR Buy Candidate Score: 1.93
Buy Candidate Score: 1.93 Nov 19, 2021

The INVESCO MORTGAGE CAPITAL INC stock price gained 0.64% on the last trading day (Friday, 19th Nov 2021), rising from $3.12 to $3.14. During the day the stock fluctuated 1.62% from a day low at $3.09 to a day high of $3.14. The price has fallen in 8 of the last 10 days and is down by -6.82% for this period. Volume fell on the last day by -1 million shares and in total, 4 million shares were bought and sold for approximately $13.14 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.

The last rating was given by Jefferies Financial Group on Dec 14, 2020. The price target was set to $2.75.

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 INVESCO MORTGAGE CAPITAL INC:
Invesco Mortgage Capital Inc., a real estate investment trust, focuses on investing in, financing, and managing residential and commercial mortgage-backed securities and mortgage loans. It invests in residential mortgage-backed securities (RMBS) for which the U.S. government agency or a federally chartered corporation guarantees payments of principal and interest on the securities; RMBS that are not issued or guaranteed by the U.S. government agency; commercial mortgage-backed securities; residential and commercial mortgage loans; and other real estate-related financing arrangements. The company has elected to be taxed as a real estate investment trust. As a result, it would not be subject to federal corporate income taxes if it distributes at least 90% of its taxable income to its stockholders. Invesco Mortgage Capital Inc. was founded in 2008 and is headquartered in Atlanta, Georgia.

Dragoneer Growth Opportunities Corp. II

NASDAQ:DGNS Buy Candidate Score: 1.81
Buy Candidate Score: 1.81 Nov 19, 2021

The Dragoneer Growth Opportunities Corp. II stock price fell by -0.40% on the last day (Friday, 19th Nov 2021) from $10.10 to $10.06. During the day the stock fluctuated 0.80% from a day low at $10.05 to a day high of $10.13. The price has fallen in 6 of the last 10 days and is down by -1.08% for this period. Volume has increased on the last day by 219 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, 945 thousand shares were bought and sold for approximately $9.51 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 Dragoneer Growth Opportunities Corp. II stock to perform well in the short-term.

Bridgetown Holdings Limited

NASDAQ:BTWN Buy Candidate Score: 1.80
Buy Candidate Score: 1.80 Nov 19, 2021

No changes to the price of Bridgetown Holdings Limited stock on the last trading day (Friday, 19th Nov 2021). During the day the stock fluctuated 0.45% from a day low at $9.95 to a day high of $9.99. The price has risen in 5 of the last 10 days and is up by 0.61% over the past 2 weeks.

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 Bridgetown Holdings Limited stock to perform well in the short-term.

Brady Corporation

NYSE:BRC Buy Candidate Score: 1.72
Buy Candidate Score: 1.72 Nov 19, 2021

Brady CorporationThe Brady Corporation stock price gained 0.64% on the last trading day (Friday, 19th Nov 2021), rising from $49.97 to $50.29. During the day the stock fluctuated 2.49% from a day low at $49.39 to a day high of $50.62. The price has fallen in 9 of the last 10 days and is down by -9.58% for this period. Volume fell on the last day by -218 thousand shares and in total, 155 thousand shares were bought and sold for approximately $7.77 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.

Wells Fargo & Company is very positive about BRC and gave it a "Underweight - Overweight" rating on Jun 08, 2021. The price target was changed from $50.00 to $70.00.

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 Brady Corporation:
Brady Corporation manufactures and supplies identification solutions, specialty materials, and workplace safety products that identify and protect premises, products, and people in the United States and internationally. It operates through two segments, Identification Solutions and Workplace Safety. The Identification Solutions segment offers safety signs, pipe markers, labeling systems, spill control products, and lockout/tagout devices for facility identification; materials and printing systems for product identification, brand protection labeling, work in process labeling, and finished product identification; and hand-held printers, wire markers, sleeves, and tags for wire identification. Its product categories also comprise self-expiring name tags, badges, lanyards, and access control software for people identification; wristbands and labels for tracking and improving the safety of patients in hospitals; and custom wristbands used in the leisure and entertainment industry, such as theme parks, concerts, and festivals. This segment serves customers in industrial and electronic manufacturing, healthcare, chemical, oil, gas, automotive, aerospace, defense, mass transit, electrical contractors, leisure and entertainment, telecommunications, and other markets through distributors, direct sales, catalog marketing, and e-commerce. The Workplace Safety segment provides workplace safety and compliance products, such as safety and compliance signs, tags, labels, informational and architectural signage, asset tracking labels, first aid products, industrial warehouse and office equipment, and labor law compliance posters for various industries, including process, government, education, construction, and utilities, as well as manufacturers through catalog, telemarketing, and digital channels. It also offers stock and custom identification products, as well as sells related resale products. Brady Corporation was founded in 1914 and is headquartered in Milwaukee, Wisconsin.