Breakout Stocks of Week 20
NASDAQ was down last week (week 19) by -1.54% ending at 12,144.66 points after falling -189.98 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 iShares Commodities Select Strategy ETF NASDAQ:COMT. This stock has had a buy signal since Apr 26, 2022 when the price was $41.34 and is so far up 3.56% to $42.81. Some other companies are on our watchlist to, among these are BayCom Corp. NASDAQ:BCML First Trust Global Tactical Commodity Strategy Fund NASDAQ:FTGC Sprott Physical Gold Trust NYSE:PHYS and Equity Commonwealth NYSE:EQC which all got a breakout pattern emerging.
| Date | Company | Price | Week 20 |
|---|---|---|---|
| Ishares Commodities Select Strategy Etf | $42.81 | $42.30 | -1.19% |
| Baycom Corp. | $22.27 | $21.87 | -1.80% |
| First Trust Global Tactical Commodity Strategy Fun... | $29.19 | $28.86 | -1.13% |
| Sprott Physical Gold Trust | $14.85 | $14.14 | -4.78% |
| Equity Commonwealth | $26.12 | $25.99 | -0.498% |
The iShares Commodities Select Strategy ETF price gained 0.635% on the last trading day (Friday, 6th May 2022), rising from $42.54 to $42.81. During the last trading day the ETF fluctuated 1.95% from a day low at $42.15 to a day high of $42.97. The price has risen in 6 of the last 10 days and is up by 3.88% 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, 60 thousand more shares were traded than the day before. In total, 435 thousand shares were bought and sold for approximately $18.64 million.
iShares Commodities Select Strategy 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 iShares Commodities Select Strategy ETF:
The investment seeks total return by providing investors with broad commodity exposure.
The fund seeks to achieve its investment objective by investing in a combination of exchange-traded commodity futures contracts, exchange-traded options on commodity-related futures contracts and exchange-cleared commodity-related swaps (together, "Commodity-Linked Investments") and commodity-related equity securities ("Commodity-Related Equities"), thereby obtaining exposure to the commodities markets. It is an actively managed exchange-traded fund ("ETF") that does not seek to replicate the performance of a specified index. The fund is non-diversified.
The BayCom Corp. stock price fell by -0.580% on the last day (Friday, 6th May 2022) from $22.40 to $22.27. It has now fallen 3 days in a row. During the last trading day the stock fluctuated 1.61% from a day low at $22.11 to a day high of $22.47. The price has fallen in 6 of the last 10 days and is down by -3.13% 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 -42 thousand shares and in total, 95 thousand shares were bought and sold for approximately $2.12 million.
On Apr 26, 2022, it was reported that Zacks Investment Research gave BCML a "Buy" grade with a "upgrade" action.
Several short-term signals are positive and we conclude that the current level may hold a buying opportunity, as there is a fair chance for BayCom Corp. stock to perform well in the short-term period.
About BayCom Corp.:
BayCom Corp operates as the bank holding company for United Business Bank that provides various financial services to small and mid-sized businesses, service professionals, and individuals. The company offers demand, savings, money market, and time deposit accounts. It also provides commercial and multifamily real estate loans, including owner-occupied and investor real estate loans; commercial and industrial loans, such as equipment loans and working capital lines of credit; small business administration loans; construction and land loans; agriculture-related loans; and consumer loans comprising installment loans, unsecured and secured personal lines of credit, and overdraft protection. In addition, the company offers online and mobile banking, automated teller machine, remote deposit capture, night depository, courier, direct deposit, treasury management, wire transfer, automated clearing house services, debit cards, cashier's and travelers checks, letters of credit, lockbox, positive pay, reverse positive pay, and account reconciliation services, as well as zero balance accounts and sweep accounts, including loan sweep. As of December 31, 2021, it operated through a network of 33 full-service banking branches in Northern and Southern California; Denver, Colorado; Custer, Delta, and Grand counties, Colorado; and Seattle, Washington and Central New Mexico. The company was formerly known as Bay Commercial Bank and changed its name to BayCom Corp in January 2017. BayCom Corp was incorporated in 2004 and is headquartered in Walnut Creek, California.
First Trust Global Tactical Commodity Strategy Fund
NASDAQ:FTGCThe First Trust Global Tactical Commodity ETF price fell by -1.18% on the last day (Friday, 6th May 2022) from $29.54 to $29.19. During the last trading day the ETF fluctuated 1.93% from a day low at $29.07 to a day high of $29.63. The price has fallen in 7 of the last 10 days. Volume fell on the last day along with the ETF, which is actually a good sign as volume should follow the ETF. On the last day, the trading volume fell by -432 thousand shares and in total, 1 million shares were bought and sold for approximately $42.61 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 First Trust Global Tactical Commodity ETF to perform well in the short-term.
About First Trust Global Tactical Commodity Strategy Fund:
The investment seeks to provide total return by providing investors with commodity exposure while seeking a relatively stable risk profile.
The fund is an actively managed exchange-traded fund ("ETF") that seeks to achieve attractive risk adjusted return by investing in commodity futures contracts and exchange-traded commodity linked instruments (collectively, "Commodities Instruments") through a wholly-owned subsidiary of the fund organized under the laws of the Cayman Islands (the "Subsidiary"). The advisor expects to gain exposure to these investments exclusively by investing in the Subsidiary. It is non-diversified.
The Sprott Physical Gold Trust stock price gained 0.406% on the last trading day (Friday, 6th May 2022), rising from $14.79 to $14.85. During the last trading day the stock fluctuated 1.08% from a day low at $14.78 to a day high of $14.94. The price has risen in 5 of the last 10 days but is still down by -3% for this period. Volume fell on the last day by -183 thousand shares and in total, 3 million shares were bought and sold for approximately $40.97 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.
Several short-term signals are positive and we conclude that the current level may hold a buying opportunity, as there is a fair chance for Sprott Physical Gold Trust stock to perform well in the short-term period.
About Sprott Physical Gold Trust:
Sprott Physical Gold Trust is an exchange traded commodity launched and managed by Sprott Asset Management, LP. The fund invests in the commodity markets. It primarily invests in physical gold bullion in London Good Delivery bar form. Sprott Physical Gold Trust was formed on August 28, 2009 and is domiciled in Canada.
The Equity Commonwealth stock price gained 0.0766% on the last trading day (Friday, 6th May 2022), rising from $26.10 to $26.12. During the last trading day the stock fluctuated 1.60% from a day low at $25.97 to a day high of $26.39. The price has fallen in 6 of the last 10 days and is down by -2.86% for this period. Volume has increased on the last day along with the price, which is a positive technical sign, and, in total, 241 thousand more shares were traded than the day before. In total, 862 thousand shares were bought and sold for approximately $22.51 million.
Several short-term signals are positive and we conclude that the current level may hold a buying opportunity, as there is a fair chance for Equity Commonwealth stock to perform well in the short-term period.
About Equity Commonwealth:
Equity Commonwealth (NYSE: EQC) is a Chicago based, internally managed and self-advised real estate investment trust (REIT) with commercial office properties in the United States. EQC's same property portfolio is comprised of 4 properties and 1.5 million square feet.
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.
