Breakout Stocks of Week 13
NASDAQ was up by impressive 8.18% last week (week 12) ending at 13,893.84 points points after ending the week prior at 12,843.81 points. Normally this would indicate a weaker week ahead of us. 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 Cato Corporation (The) NYSE:CATO. This stock has had a buy signal since Mar 18, 2022 when the price was $15.59 , but have so far fallen 0% to $15.59. Some other companies are on our watchlist to, among these are Incannex Healthcare Limited NASDAQ:IXHL CF Acquisition Corp. VI NASDAQ:CFVI Rumble Inc. NASDAQ:RUM and Umpqua Holdings Corporation NASDAQ:UMPQ which all got a breakout pattern emerging.
| Date | Company | Price | Week 13 |
|---|---|---|---|
| Cato Corporation (the) | $15.59 | $14.94 | -4.17% |
| Incannex Healthcare Limited | $12.30 | $11.14 | -9.43% |
| Cf Acquisition Corp. Vi | $11.76 | $11.68 | -0.680% |
| Rumble Inc. | $11.76 | $11.68 | -0.680% |
| Umpqua Holdings Corporation | $19.79 | $19.99 | 1.01% |
The Cato Corporation (The) stock price gained 0.84% on the last trading day (Friday, 18th Mar 2022), rising from $15.46 to $15.59. During the last trading day the stock fluctuated 4.06% from a day low at $15.03 to a day high of $15.64. The price has risen in 6 of the last 10 days but is still down by -9.68% for this period. Volume has increased on the last day along with the price, which is a positive technical sign, and, in total, 176 thousand more shares were traded than the day before. In total, 388 thousand shares were bought and sold for approximately $6.04 million.
Cato Corporation (The) holds several negative signals and this should be a sell candidate, but due to the general chance for a turnaround situation it should be considered as a hold candidate (hold or accumulate) in this position whilst awaiting further development.
About Cato Corporation (The):
The Cato Corporation, together with its subsidiaries, operates as a specialty retailer of fashion apparel and accessories primarily in the southeastern United States. It operates through two segments, Retail and Credit. The company's stores and e-commerce websites offer a range of apparel and accessories, including dressy, career, and casual sportswear; and dresses, coats, shoes, lingerie, costume jewelry, and handbags, as well as men's wear, and lines for kids and infants. It operates its stores and e-commerce websites under the Cato, Cato Fashions, Cato Plus, It's Fashion, It's Fashion Metro, and Versona names. As of January 29, 2022, the company operated 1,311 stores in 32 states. It also provides credit card services to its customers, as well as layaway plans for customers who agree to make periodic payments. The company was incorporated in 1946 and is headquartered in Charlotte, North Carolina.
The Incannex Healthcare Limited stock price gained 2.67% on the last trading day (Friday, 18th Mar 2022), rising from $11.98 to $12.30. During the last trading day the stock fluctuated 27.00% from a day low at $12.15 to a day high of $15.43. The price has risen in 6 of the last 10 days but is still down by -17.34% for this period. Volume has increased on the last day along with the price, which is a positive technical sign, and, in total, 3 million more shares were traded than the day before. In total, 4 million shares were bought and sold for approximately $46.91 million.
Incannex Healthcare Limited holds several positive signals, but we still don't find these to be enough for a buy candidate. At the current level, it should be considered as a hold candidate (hold or accumulate) in this position whilst awaiting further development.
About Incannex Healthcare Limited:
Incannex Healthcare Limited engages in the research, development, and sale of medicinal cannabinoid products in Australia. It offers pharmaceutical grade cannabinoid products under the Incannex brand name. The company's products include IHL-42X, which is in Phase II clinical trials for obstructive sleep apnea; IHL-216A for traumatic brain injury; and IHL-675A, a combination of hydroxychloroquine and cannabidiol for the prevention and treatment of inflammatory lung conditions, such as acute respiratory distress syndrome, chronic obstructive pulmonary disease, asthma, and bronchitis, as well as rheumatoid arthritis and inflammatory bowel diseases. It has partnership with The Alfred Hospital and Novotech on IHL-42X clinical program for obstructive sleep apnea; and Monash Trauma Group at the Department of Neuroscience, Monash University to conduct a study on the protective effect of IHL-216A in sports concussion. The company was formerly known as Impression Healthcare Limited and changed its name to Incannex Healthcare Limited in June 2020. Incannex Healthcare Limited was incorporated in 2001 and is based in Sydney, Australia.
The CF Acquisition Corp. VI stock price gained 3.16% on the last trading day (Friday, 18th Mar 2022), rising from $11.40 to $11.76. During the last trading day the stock fluctuated 6.74% from a day low at $11.28 to a day high of $12.04. The price has risen in 5 of the last 10 days but is still down by -4.93% for this period. Volume has increased on the last day along with the price, which is a positive technical sign, and, in total, 939 thousand more shares were traded than the day before. In total, 1 million shares were bought and sold for approximately $17.28 million.
On Sep 08, 2022, it was reported that D.A. Davidson gave CFVI a "Buy" grade with a "initialise" action.
CF Acquisition Corp. VI holds several positive signals, but we still don't find these to be enough for a buy candidate. At the current level, it should be considered as a hold candidate (hold or accumulate) in this position whilst awaiting further development.
About CF Acquisition Corp. VI:
CF Acquisition Corp. VI does not have significant operations. It focuses on effecting a merger, capital stock exchange, asset acquisition, stock purchase, reorganization, or similar business combination with one or more businesses in the financial services, healthcare, real estate services, technology, and software industries CF Acquisition Corp. VI was incorporated in 2020 and is based in New York, New York.
The Rumble Inc. stock price gained 3.16% on the last trading day (Friday, 18th Mar 2022), rising from $11.40 to $11.76. During the last trading day the stock fluctuated 6.74% from a day low at $11.28 to a day high of $12.04. The price has risen in 5 of the last 10 days but is still down by -4.93% for this period. Volume has increased on the last day along with the price, which is a positive technical sign, and, in total, 936 thousand more shares were traded than the day before. In total, 1 million shares were bought and sold for approximately $17.35 million.
On Mar 28, 2024, it was reported that Oppenheimer gave RUM a "Perform" grade with a "hold" action.
Rumble Inc. holds several positive signals, but we still don't find these to be enough for a buy candidate. At the current level, it should be considered as a hold candidate (hold or accumulate) in this position whilst awaiting further development.
The Umpqua Holdings Corporation stock price fell by -1.88% on the last day (Friday, 18th Mar 2022) from $20.17 to $19.79. During the last trading day the stock fluctuated 4.29% from a day low at $19.36 to a day high of $20.19. The price has been going up and down for this period, and there has been a -2.27% loss for the last 2 weeks. Volume has increased on the last day by 3 million 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, 4 million shares were bought and sold for approximately $79.58 million.
On Dec 15, 2022, it was reported that Wells Fargo gave UMPQ a "Overweight" grade with a "upgrade" action.
Umpqua Holdings Corporation holds several negative signals and this should be a sell candidate, but due to the general chance for a turnaround situation it should be considered as a hold candidate (hold or accumulate) in this position whilst awaiting further development.
About Umpqua Holdings Corporation:
Umpqua Holdings Corporation operates as the holding company of Umpqua Bank that provides commercial and retail banking services. It operates in two segments: Core Banking and Mortgage Banking. The company offers deposit products, including non-interest bearing checking, interest bearing checking and savings, and money market accounts, as well as certificates of deposit. It also provides loans for corporate and commercial customers, such as accounts receivable and inventory financing, multi-family and equipment loans, commercial equipment leases, international trade finance, real estate construction loans, permanent financing, and small business administration program financing, as well as capital markets and treasury management products. In addition, the company offers loan products, such as commercial and industrial loans; residential real estate loans for the construction, purchase, and refinancing of residential owner-occupied and rental properties; and consumer loans comprising secured and unsecured personal loans, home equity and personal lines of credit, and motor vehicle loans. Further, it provides financial planning solutions; and online and mobile banking services. The company serves high net worth individuals and families, select non-profits, and professional services firms. As of December 31, 2021, it conducted commercial and retail banking activities at 234 locations, including 202 store locations in Oregon, Washington, California, Idaho, and Nevada; and operated 28 facilities for the purpose of administrative and other functions, such as back-office support, of which two are owned and 26 are leased. The company was founded in 1953 and is headquartered in Portland, Oregon.
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.
