Breakout Stocks of Week 51
NASDAQ was up last week (week 50) by 2.85% ending at 14,813.92 points after gaining 409.95 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 Spirit Aerosystems Holdings Inc NYSE:SPR. This stock has had a buy signal since Nov 09, 2023 when the price was $23.94 and is so far up 23.52% to $29.57. Some other companies are on our watchlist to, among these are iShares PHLX SOX Semiconductor Sector Index Fund NASDAQ:SOXX Splunk Inc. NASDAQ:SPLK Alamos Gold Inc NYSE:AGI and Ship Finance International Limited NYSE:SFL which all got a breakout pattern emerging.
| Date | Company | Price | Week 51 |
|---|---|---|---|
| Spirit Aerosystems Holdings Inc | $29.57 | $32.01 | 8.25% |
| Ishares Phlx Sox Semiconductor Sector Index Fund | $189.78 | $189.96 | 0.0948% |
| Splunk Inc. | $152.56 | $152.10 | -0.302% |
| Alamos Gold Inc | $13.64 | $13.93 | 2.13% |
| Ship Finance International Limited | $11.10 | $11.71 | 5.50% |
The Spirit Aerosystems Holdings Inc stock price gained 4.05% on the last trading day (Friday, 15th Dec 2023), rising from $28.42 to $29.57. During the last trading day the stock fluctuated 6.09% from a day low at $28.22 to a day high of $29.94. The price has risen in 5 of the last 10 days and is up by 4.97% 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, 2 million more shares were traded than the day before. In total, 5 million shares were bought and sold for approximately $147.70 million.
On Apr 19, 2024, it was reported that RBC Capital gave SPR a "Sell" grade with a "hold" action.
Spirit Aerosystems Holdings Inc 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 Spirit Aerosystems Holdings Inc:
Spirit AeroSystems Holdings, Inc. designs, engineers, manufactures, and markets commercial aerostructures worldwide. It operates through three segments: Commercial, Defense & Space, and Aftermarket. The Commercial segment offers forward, mid, and rear fuselage sections and systems, struts/pylons, nacelles, and related engine structural components; and wings and wing components, including flight control surfaces, as well as other structural parts. This segment primarily serves the aircraft original equipment manufacturers (OEMs) or engine OEMs of large commercial aircraft and/or business/regional jet programs. The Defense & Space segment provides fuselage, strut, nacelle, and wing aerostructures primarily for U.S. Government defense programs, including Boeing P-8, C40, and KC-46 Tanker. This segment also engages in the fabrication, bonding, assembly, testing, tooling, processing, engineering analysis, and training on fixed wing aircraft aerostructures, missiles, and hypersonics works, such as solid rocket motor throats, nozzles, re-entry vehicle thermal protections systems, forward cockpit and cabin, and fuselage work on rotorcraft aerostructures. The Aftermarket segment offers spare parts and MRO services, repairs for flight control surfaces and nacelles, radome repairs, rotable assets, engineering services, advanced composite repairs, and other repair and overhaul services. Spirit AeroSystems Holdings, Inc. has a strategic partnership with Sierra Space to enhance access to commercial space economy of the future. The company was formerly known as Mid-Western Aircraft Systems Holdings, Inc. Spirit AeroSystems Holdings, Inc. was founded in 1927 and is headquartered in Wichita, Kansas.
iShares PHLX SOX Semiconductor Sector Index Fund
NASDAQ:SOXXThe iShares PHLX SOX Semiconductor Sector ETF price gained 0.376% on the last trading day (Friday, 15th Dec 2023), rising from $189.07 to $189.78. It has now gained 7 days in a row. It is not often that ETFS manage to gain so many days in a row, and falls for a day or two should be expected. During the last trading day the ETF fluctuated 1.34% from a day low at $189.37 to a day high of $191.91. The price has risen in 7 of the last 10 days and is up by 10.32% 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, 584 thousand more shares were traded than the day before. In total, 4 million shares were bought and sold for approximately $749.14 million.
iShares PHLX SOX Semiconductor Sector holds several positive signals and is considered to be a good choice at current levels. We expect the ETF to perform very well in the short term period.
About iShares PHLX SOX Semiconductor Sector Index Fund:
The investment seeks to track the investment results of the PHLX Semiconductor Sector Index composed of U.S. equities in the semiconductor sector.
The fund generally invests at least 90% of its assets in securities of the underlying index and in depositary receipts representing securities of the underlying index. The underlying index measures the performance of U.S.-traded securities of companies engaged in the semiconductor business. The fund is non-diversified.
The Splunk Inc. stock price gained 0.454% on the last trading day (Friday, 15th Dec 2023), rising from $151.87 to $152.56. During the last trading day the stock fluctuated 0.779% from a day low at $151.56 to a day high of $152.74. The price has been going up and down for this period, and there has been a 0.81% gain for the last 2 weeks. Volume has increased on the last day along with the price, which is a positive technical sign, and, in total, 8 million more shares were traded than the day before. In total, 10 million shares were bought and sold for approximately $1.58 billion.
On Nov 29, 2023, it was reported that KeyBanc gave SPLK a "Sector Weight" grade with a "hold" action.
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 Splunk Inc. stock to perform well in the short-term.
About Splunk Inc.:
Splunk Inc., together with its subsidiaries, provides software and cloud solutions that deliver and operationalize insights from the data generated by digital systems in the United States and internationally. The company offers Splunk Platform, a real-time data platform comprising collection, streaming, indexing, search, reporting, analysis, machine learning, alerting, monitoring, and data management capabilities. It also provides Splunk Solutions, such as Splunk Security solutions that enable cybersecurity teams streamline the security operations workflow, accelerate threat detection and response, enhance threat visibility, and scale resources to increase analyst productivity through machine learning and automation; Splunk IT Solutions that provide IT Operations teams visibility and control across cloud and on-premises environments; and Splunk Observability Solutions for building and maintaining infrastructure and applications. In addition, the company offers Ecosystem Solutions, which includes pre-built data inputs, workflows, searches, reports, alerts, custom dashboards, flexible UI components, custom data visualizations, and integration actions and methods, as well as Splunk On-Call, Splunk Infrastructure Monitoring, and Splunk SOAR solutions, which provides APIs, SDKs, and other interfaces that enable its ecosystem, including third-party developers, partners, and customers to build content that configures and extends Splunk solutions to accommodate specific use cases. Further, the company provides adoption and implementation services, education services, and maintenance and customer support services. It sells its offerings directly through field and inside sales, and indirectly through various routes to market with various partners. Splunk Inc. was incorporated in 2003 and is headquartered in San Francisco, California.
The Alamos Gold Inc stock price fell by -1.73% on the last day (Friday, 15th Dec 2023) from $13.88 to $13.64. During the last trading day the stock fluctuated 2.31% from a day low at $13.62 to a day high of $13.93. The price has fallen in 8 of the last 10 days and is down by -8.21% 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 -1 million shares and in total, 3 million shares were bought and sold for approximately $36.73 million.
On Apr 23, 2024, it was reported that RBC Capital gave AGI a "Outperform" grade with a "hold" action.
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 Alamos Gold Inc stock to perform well in the short-term.
About Alamos Gold Inc:
Alamos Gold Inc., together with its subsidiaries, engages in the acquisition, exploration, development, and extraction of precious metals in Canada, Mexico, the United States, and Turkey. It primary explores for gold and silver. The company's flagship project is the Young-Davidson mine, which includes contiguous mineral leases and claims totaling 5,587 hectares located in Matachewan in the Northern Ontario, Canada. It also holds 100% interest in the Island Gold mine, which comprises approximately 15,000 hectares located in the Ontario, Canada. The company was formerly known as AuRico Gold Inc. and changed its name to Alamos Gold Inc. in July 2015. Alamos Gold Inc. was founded in 2003 and is headquartered in Toronto, Canada.
The Ship Finance International Limited stock price gained 0.543% on the last trading day (Friday, 15th Dec 2023), rising from $11.04 to $11.10. During the last trading day the stock fluctuated 2.18% from a day low at $10.99 to a day high of $11.23. The price has fallen in 5 of the last 10 days and is down by -3.73% for this period. Volume has increased on the last day along with the price, which is a positive technical sign, and, in total, 72 thousand more shares were traded than the day before. In total, 997 thousand shares were bought and sold for approximately $11.06 million.
On Dec 08, 2023, it was reported that Jefferies gave SFL a "Buy" grade with a "hold" action.
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 Ship Finance International Limited stock to perform well in the short-term.
About Ship Finance International Limited:
SFL Corporation Ltd., a maritime and offshore asset owning and chartering company, engages in the ownership, operation, and chartering out of vessels and offshore related assets on medium and long-term charters. The company is also involved in the charter, purchase, and sale of assets. In addition, it operates in various sectors of the maritime, and shipping and offshore industries, including oil, chemical, oil product, container, and car transportation, as well as dry bulk shipments and drilling rigs. As of December 31, 2021, the company owned six crude oil tankers, 15 dry bulk carriers, 35 container vessels, two car carriers, one jack-up drilling rig, one ultra-deepwater drilling unit, two chemical tankers, and four oil product tankers. It primarily operates in Bermuda, Cyprus, Liberia, Norway, Singapore, the United Kingdom, and the Marshall Islands. The company was formerly known as Ship Finance International Limited and changed its name to SFL Corporation Ltd. in September 2019. SFL Corporation Ltd. was incorporated in 2003 and is based in Hamilton, Bermuda.
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.
