Breakout Stocks of Week 8

NASDAQ was down last week (week 7) by -2.18% ending at 13,791.15 points after falling -306.86 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 IDACORP Inc NYSE:IDA. This stock has had a buy signal since Feb 11, 2022 when the price was $105.69 , but have so far fallen 0% to $105.69. Some other companies are on our watchlist to, among these are Chesapeake Utilities Corporation NYSE:CPK AEA-Bridges Impact Corp. NYSE:IMPX American Finance Trust Inc. NASDAQ:AFIN and UMH Properties Inc NYSE:UMH which all got a breakout pattern emerging.

Date Company Price Week 8
Feb 11, 2022 Idacorp Inc $105.69 $102.81 -2.72%
Feb 11, 2022 Chesapeake Utilities Corporation $130.35 $129.55 -0.614%
Feb 11, 2022 Aea-bridges Impact Corp. $9.89 $9.93 0.455%
Feb 11, 2022 American Finance Trust Inc. $8.26 $8.33 0.85%
Feb 11, 2022 Umh Properties Inc $23.57 $23.03 -2.29%

IDACORP Inc

NYSE:IDA Buy Candidate Score: 2.95
Buy Candidate Score: 2.95 Feb 11, 2022

IDACORP IncThe IDACORP Inc stock price gained 0.715% on the last trading day (Friday, 11th Feb 2022), rising from $104.94 to $105.69. During the last trading day the stock fluctuated 1.45% from a day low at $105.01 to a day high of $106.53. The price has risen in 6 of the last 10 days but is still down by -2.5% for this period. Volume has increased on the last day along with the price, which is a positive technical sign, and, in total, 14 thousand more shares were traded than the day before. In total, 190 thousand shares were bought and sold for approximately $18.48 million.

On May 03, 2022, it was reported that Wells Fargo gave IDA a "Equal-Weight" grade with a "upgrade" action.

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 IDACORP Inc:
IDACORP, Inc., together with its subsidiaries, engages in the generation, transmission, distribution, purchase, and sale of electric energy in the United States. The company operates 17 hydropower generating plants located in southern Idaho and eastern Oregon; three natural gas-fired plants in southern Idaho; and interests in two coal-fired steam electric generating plants located in Wyoming and Nevada. As of December 31, 2021, it had approximately 4,843 pole-miles of high-voltage transmission lines; 23 step-up transmission substations located at power plants; 21 transmission substations; 10 switching stations; 30 mixed-use transmission and distribution substations; 187 energized distribution substations; and 28,570 pole-miles of distribution lines, as well as provides electric utility services to approximately 604,000 retail customers in southern Idaho and eastern Oregon. The company serves commercial and industrial customers, which involved in food processing, electronics and general manufacturing, agriculture, health care, government, and education. It also invests in housing and other real estate tax credit investments. IDACORP, Inc. was founded in 1915 and is headquartered in Boise, Idaho.

Chesapeake Utilities Corporation

NYSE:CPK Buy Candidate Score: 2.94
Buy Candidate Score: 2.94 Feb 11, 2022

Chesapeake Utilities CorporationThe Chesapeake Utilities Corporation stock price gained 1.05% on the last trading day (Friday, 11th Feb 2022), rising from $129.00 to $130.35. During the last trading day the stock fluctuated 1.72% from a day low at $128.91 to a day high of $131.13. The price has fallen in 7 of the last 10 days and is down by -3.04% for this period. Volume fell on the last day by -27 thousand shares and in total, 40 thousand shares were bought and sold for approximately $5.20 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 Jan 10, 2024, it was reported that RBC Capital gave CPK a "Outperform" grade with a "upgrade" action.

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 Chesapeake Utilities Corporation:
Chesapeake Utilities Corporation operates as an energy delivery company. The company operates through two segments, Regulated Energy and Unregulated Energy. The Regulated Energy segment engages in the natural gas distribution operations in central and southern Delaware, Maryland's eastern shore, and Florida; regulated natural gas transmission in the Delmarva Peninsula and Florida; and regulated electric distribution in northeast and northwest Florida. The Unregulated Energy segment engages in the propane operations in the Mid-Atlantic region, North Carolina, South Carolina, and Florida; unregulated natural gas transmission/supply operation in central and eastern Ohio; generation of electricity and steam; and provision of compressed natural gas, liquefied natural gas, and renewable natural gas transportation and pipeline solutions primarily to utilities and pipelines in the eastern United States. This segment also provides other unregulated energy services, such as energy-related merchandise sales; heating, ventilation, and air conditioning services; and plumbing and electrical services. The company was founded in 1859 and is headquartered in Dover, Delaware.

AEA-Bridges Impact Corp.

NYSE:IMPX Buy Candidate Score: 2.52
Buy Candidate Score: 2.52 Feb 11, 2022

AEA-Bridges Impact Corp.The AEA-Bridges Impact Corp. stock price gained 0.0506% on the last trading day (Friday, 11th Feb 2022), rising from $9.88 to $9.89. During the last trading day the stock fluctuated 0.203% from a day low at $9.87 to a day high of $9.89. The price has risen in 6 of the last 10 days and is up by 0.36% 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, 252 thousand more shares were traded than the day before. In total, 260 thousand shares were bought and sold for approximately $2.57 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 AEA-Bridges Impact Corp. stock to perform well in the short-term period.

About AEA-Bridges Impact Corp.:
AEA-Bridges Impact Corp. does not have significant operations. It intends to effect a merger, amalgamation, share exchange, asset acquisition, share purchase, reorganization, or similar business combination with one or more businesses. The company intends to focus on value-added industrials, including sustainable energy and energy efficiency, education, circular economy, consumer, healthcare, and business services. AEA-Bridges Impact Corp. was incorporated in 2020 and is based in Grand Cayman, Cayman Islands.

American Finance Trust Inc.

NASDAQ:AFIN Buy Candidate Score: 2.27
Buy Candidate Score: 2.27 Feb 11, 2022

American Finance Trust Inc.The American Finance Trust Inc. stock price gained 1.60% on the last trading day (Friday, 11th Feb 2022), rising from $8.13 to $8.26. During the last trading day the stock fluctuated 2.58% from a day low at $8.13 to a day high of $8.34. The price has risen in 6 of the last 10 days and is up by 0.49% 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, 857 more shares were traded than the day before. In total, 788 thousand shares were bought and sold for approximately $6.51 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 American Finance Trust Inc. stock to perform well in the short-term period.

UMH Properties Inc

NYSE:UMH Buy Candidate Score: 2.12
Buy Candidate Score: 2.12 Feb 11, 2022

UMH Properties IncThe UMH Properties Inc stock price gained 1.42% on the last trading day (Friday, 11th Feb 2022), rising from $23.24 to $23.57. During the last trading day the stock fluctuated 1.63% from a day low at $23.26 to a day high of $23.64. The price has fallen in 5 of the last 10 days but is still up by 1.42% 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, 3 thousand more shares were traded than the day before. In total, 320 thousand shares were bought and sold for approximately $7.55 million.

On Oct 12, 2022, it was reported that Wolfe Research gave UMH a "Outperform" grade with a "initialise" 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 UMH Properties Inc stock to perform well in the short-term period.

About UMH Properties Inc:
UMH Properties, Inc., which was organized in 1968, is a public equity REIT that owns and operates 124 manufactured home communities containing approximately 23,400 developed homesites. These communities are located in New Jersey, New York, Ohio, Pennsylvania, Tennessee, Indiana, Michigan and Maryland. In addition, the Company owns a portfolio of REIT securities.

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