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 ANGEL ONE LIMITED XBOM:ANGELONE. This stock has had a buy signal since Aug 08, 2023 when the price was ₹1,701.00 and is so far up 91.97% to ₹3,265.40. Some other companies are on our watchlist to, among these are Spirit Aerosystems Holdings Inc NYSE:SPR Universal Cables Limited NSE:UNIVCABLES Hanwha Corporation KSE:000885 and Vakrangee Limited NSE:VAKRANGEE which all got a breakout pattern emerging.
| Date | Company | Price | Week 51 |
|---|---|---|---|
| Angel One Limited | ₹3,265.40 | ₹3,289.40 | 0.735% |
| Spirit Aerosystems Holdings Inc | $29.57 | $32.01 | 8.25% |
| Universal Cables Limited | ₹515.35 | ₹503.10 | -2.38% |
| Hanwha Corporation | ₩32,650.00 | ₩32,100.00 | -1.68% |
| Vakrangee Limited | ₹19.40 | ₹19.30 | -0.515% |
The ANGEL ONE LIMITED stock price gained 2.42% on the last trading day (Friday, 15th Dec 2023), rising from ₹3,188.30 to ₹3,265.40. During the last trading day the stock fluctuated 4.45% from a day low at ₹3,162.80 to a day high of ₹3,303.65. The price has been going up and down for this period, and there has been a 6.77% 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, 7 thousand more shares were traded than the day before. In total, 44 thousand shares were bought and sold for approximately ₹142.92 million.
ANGEL ONE LIMITED 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.
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.
The Universal Cables Limited stock price gained 0.0777% on the last trading day (Friday, 15th Dec 2023), rising from ₹514.95 to ₹515.35. During the last trading day the stock fluctuated 2.35% from a day low at ₹511.95 to a day high of ₹524.00. The price has been going up and down for this period, and there has been a 1.65% 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, 25 thousand more shares were traded than the day before. In total, 76 thousand shares were bought and sold for approximately ₹39.22 million.
Universal Cables Limited holds several positive signals and is within a weak 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 Universal Cables Limited:
Universal Cables Limited manufactures and sells electrical and other cables, capacitors, wires and conductors, and other products under the UNISTAR brand name in India and internationally. It offers XLPE cables, such as extra high voltage, medium voltage, low voltage, and aeriel bunched cables for use in power transmission and distribution, railways, fertilizers, petrochemical plants, submarine and under waterpower transmission, steel plants, power station wiring, chemical plants, underwater wiring, mines for power distribution, and control and instrumentation circuits. The company also provides PVC power and control cables for use in power distribution, control system, utility network, railway signaling installations, switching stations, textile mills, chemical plants, machine shops, etc.; PVC insulated winding wires and flat motor leads; elastomeric cables for trailing, ship wiring, and defense applications; and mining cables for landline, LHD and SDL machines, drills, coal cutters, stacker-reclaimers, and earth moving equipment. In addition, it offers silicon rubber cables for high-temperature locations; special power and control cables for oil rigs, traction motors, and brush gear connectors, as well as tap changers for EMU's, AC coaches, and wind energy generators; and fire survival type elastomeric cables for circuit integrity during fire hazards. Further, the company provides capacitors, including high and low-voltage capacitors, harmonic filters, surge protection/special duty capacitors, and automatic power factor correction panels. Additionally, it offers engineering services for various needs, such as turnkey contracts, system study, energy audit, harmonic analysis, and testing and commissioning of HT/LT capacitor banks and their associated equipment; and handling and installation services. The company was incorporated in 1945 and is based in New Delhi, India.
The Hanwha Corporation stock price gained 1.08% on the last trading day (Friday, 15th Dec 2023), rising from ₩32,300.00 to ₩32,650.00. During the last trading day the stock fluctuated 7.43% from a day low at ₩32,300.00 to a day high of ₩34,700.00. The price has fallen in 7 of the last 10 days and is down by -20.46% for this period. Volume has increased on the last day along with the price, which is a positive technical sign, and, in total, 6 thousand more shares were traded than the day before. In total, 8 thousand shares were bought and sold for approximately ₩277.10 million.
Hanwha Corporation holds several positive signals and is within a weak 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.
The Vakrangee Limited stock price gained 0.258% on the last trading day (Friday, 15th Dec 2023), rising from ₹19.35 to ₹19.40. During the last trading day the stock fluctuated 2.60% from a day low at ₹19.20 to a day high of ₹19.70. The price has risen in 6 of the last 10 days and is up by 4.02% over the past 2 weeks. Volume fell on the last day by -6 million shares and in total, 14 million shares were bought and sold for approximately ₹281.05 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.
Vakrangee Limited 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 Vakrangee Limited:
Vakrangee Limited, a technology company, provides banking, ATM, insurance, financial services, e-governance, e-commerce, and logistics services in India. The company offers bank account opening, cash deposits, withdrawals, money transfer, fixed and recurring deposits, balance enquiry, statement of accounts, money disbursement, consumer loans, housing loans, SME and working capital loans, and domestic money transfer services; and life insurance, motor insurance, health insurance, and social security and micro insurance schemes. It also operates assisted online shopping and healthcare, assisted travel services, and telecom and bill payments services platforms, as well as offers courier and logistics services. The company operates approximately 11,730 Vakrangee Kendra outlets. The company was formerly known as Vakrangee Softwares Limited and changed its name to Vakrangee Limited in October 2013. Vakrangee Limited was incorporated in 1990 and is based in Mumbai, India.
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.
