Breakout Stocks of Week 52
NASDAQ was up last week (week 51) by 1.21% ending at 14,992.97 points after gaining 179.05 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 Planet Fitness Inc NYSE:PLNT. This stock has had a buy signal since Nov 09, 2023 when the price was $62.94 and is so far up 16.13% to $73.09. Some other companies are on our watchlist to, among these are Ultrapar Participacoes SA NYSE:UGP Raytheon Technologies Corporation NYSE:RTX ConAgra Foods Inc NYSE:CAG and Full Truck Alliance Co. Ltd. NYSE:YMM which all got a breakout pattern emerging.
| Date | Company | Price | Week 52 |
|---|---|---|---|
| Planet Fitness Inc | $73.09 | $73.00 | -0.123% |
| Ultrapar Participacoes Sa | $5.40 | $5.42 | 0.370% |
| Raytheon Technologies Corporation | $83.23 | $84.14 | 1.09% |
| Conagra Foods Inc | $28.66 | $28.66 | 0% |
| Full Truck Alliance Co. Ltd. | $6.72 | $7.01 | 4.32% |
The Planet Fitness Inc stock price gained 0.661% on the last trading day (Friday, 22nd Dec 2023), rising from $72.61 to $73.09. It has now gained 4 days in a row. It will be exciting to see whether it manages to continue gaining or take a minor break for the next few days. During the last trading day the stock fluctuated 1.26% from a day low at $72.44 to a day high of $73.35. The price has risen in 7 of the last 10 days and is up by 8.04% over the past 2 weeks. Volume fell on the last day by -107 thousand shares and in total, 789 thousand shares were bought and sold for approximately $57.64 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 Apr 22, 2024, it was reported that Cowen & Co. gave PLNT a "Hold" grade with a "hold" action.
Planet Fitness 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 Planet Fitness Inc:
Planet Fitness, Inc., together with its subsidiaries, franchises and operates fitness centers under the Planet Fitness brand. It operates through Franchise, Corporate-Owned Stores, and Equipment segments. The Franchise segment is involved in franchising business in the United States, Puerto Rico, Canada, Panama, Mexico, and Australia. The Corporate-Owned Stores segment operates corporate-owned stores in the United States and Canada. The Equipment segment engages in the sale of fitness equipment to franchisee-owned stores in the United States and Canada. As of December 31,2021, the company had 2,254 stores in 50 states, the District of Columbia, Puerto Rico, Canada, Panama, Mexico, and Australia. Planet Fitness, Inc. was founded in 1992 and is headquartered in Hampton, New Hampshire.
The Ultrapar Participacoes SA stock price gained 0.372% on the last trading day (Friday, 22nd Dec 2023), rising from $5.38 to $5.40. During the last trading day the stock fluctuated 1.66% from a day low at $5.38 to a day high of $5.47. The price has risen in 6 of the last 10 days and is up by 2.86% over the past 2 weeks. Volume fell on the last day by -199 thousand shares and in total, 1 million shares were bought and sold for approximately $5.91 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 Apr 02, 2024, it was reported that HSBC gave UGP a "Reduce" grade with a "hold" action.
Ultrapar Participacoes SA 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 Ultrapar Participacoes SA:
Ultrapar Participações S.A. engages in the gas distribution, fuel distribution, and storage businesses primarily in Brazil, Mexico, Uruguay, Venezuela, other Latin American countries, the United States, Canada, the Far East, Europe, and internationally. Its Gas Distribution segment distributes liquefied petroleum gas to residential, commercial, and industrial consumers primarily in the South, Southeast, and Northeast regions of Brazil. The company's Fuel Distribution segment distributes and markets gasoline, ethanol, diesel, fuel oil, kerosene, natural gas for vehicles, and lubricants; operates convenience stores; and offers lubricant-changing and automotive specialized services. The company's Storage segment operates liquid bulk terminals primarily in the Southeast and Northeast regions of Brazil. As of December 31, 2021, the company operated through 7,104 Ipiranga service stations and 1,841 AmPm convenience stores; 1,149 Jet Oil franchises; 4 distribution centers; and 7 Ultracargo terminals with storage capacity of 983 thousand cubic meters. It also operates Abastece Aí, a digital payments app; and offers Km de Vantagens, a loyalty program. The company was founded in 1937 and is headquartered in São Paulo, Brazil.
The Raytheon Technologies stock price gained 1.49% on the last trading day (Friday, 22nd Dec 2023), rising from $82.01 to $83.23. During the last trading day the stock fluctuated 2.22% from a day low at $82.04 to a day high of $83.86. The price has risen in 6 of the last 10 days and is up by 2.35% over the past 2 weeks. Volume fell on the last day by -549 thousand shares and in total, 5 million shares were bought and sold for approximately $451.08 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 Apr 25, 2024, it was reported that Wells Fargo gave RTX a "Overweight" grade with a "hold" action.
Raytheon Technologies 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 Raytheon Technologies Corporation:
Raytheon Technologies Corporation, an aerospace and defense company, provides systems and services for the commercial, military, and government customers worldwide. It operates through four segments: Collins Aerospace Systems, Pratt & Whitney, Raytheon Intelligence & Space, and Raytheon Missiles & Defense. The Collins Aerospace Systems segment offers aerospace and defense products, and aftermarket service solutions for aircraft manufacturers and airlines, as well as regional, business, and general aviation; and for defense and commercial space operations. This segment also designs, produces, and supports cabin interior, communications and aviation systems, oxygen systems, food and beverage preparation, storage and galley systems, and lavatory and wastewater management systems; airborne intelligence, surveillance and reconnaissance systems, test and training range systems, crew escape systems, and simulation and training solutions; information management services; and aftermarket services that include spare parts, overhaul and repair, engineering and technical support, training and fleet management solutions, and information management services. The Pratt & Whitney segment supplies aircraft engines for commercial, military, business jet, and general aviation customers; and produces, sells, and services military and commercial auxiliary power units. The Raytheon Intelligence & Space segment develops and provides integrated space, communication, and sensor systems for missions, training, and cyber and software solutions to intelligence, defense, federal, and commercial customers. The Raytheon Missiles & Defense segment designs, develops, produces, and sustains integrated air and missile defense systems; defensive and combat solutions; land- and sea-based radars; command, control, communications, and intelligence solutions; and naval and undersea sensor solutions for the U.S. and foreign government customers. The company is headquartered in Waltham, Massachusetts.
The ConAgra Foods Inc stock price gained 0.667% on the last trading day (Friday, 22nd Dec 2023), rising from $28.47 to $28.66. During the last trading day the stock fluctuated 1.37% from a day low at $28.47 to a day high of $28.86. The price has been going up and down for this period, and there has been a -2.91% loss for the last 2 weeks. Volume fell on the last day by -523 thousand shares and in total, 3 million shares were bought and sold for approximately $74.71 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 Apr 08, 2024, it was reported that Barclays gave CAG a "Overweight" 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 ConAgra Foods Inc stock to perform well in the short-term.
About ConAgra Foods Inc:
Conagra Brands, Inc., together with its subsidiaries, operates as a consumer packaged goods food company in North America. The company operates through Grocery & Snacks, Refrigerated & Frozen, International, and Foodservice segments. The Grocery & Snacks segment primarily offers shelf stable food products in various retail channels in the United States. The Refrigerated & Frozen segment provides temperature-controlled food products in various retail channels in the United States. The International segment offers food products in various temperature states in retail and foodservice channels outside of the United States. The Foodservice segment offers food products, including meals, entrees, sauces, and various custom-manufactured culinary products packaged for sale to restaurants and other foodservice establishments in the United States. The company sells its products under the Birds Eye, Duncan Hines, Healthy Choice, Marie Callender's, Reddi-wip, Slim Jim, Angie's BOOMCHICKAPOP, Duke's, Earth Balance, Gardein, and Frontera brands. The company was formerly known as ConAgra Foods, Inc. and changed its name to Conagra Brands, Inc. in November 2016. Conagra Brands, Inc. was incorporated in 1919 and is headquartered in Chicago, Illinois.
The Full Truck Alliance Co. Ltd. stock price fell by -1.03% on the last day (Friday, 22nd Dec 2023) from $6.79 to $6.72. During the last trading day the stock fluctuated 2.87% from a day low at $6.62 to a day high of $6.81. The price has fallen in 7 of the last 10 days and is down by -4.82% 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 -70 thousand shares and in total, 3 million shares were bought and sold for approximately $22.63 million.
On Mar 26, 2024, it was reported that UBS gave YMM a "Buy" grade with a "initialise" 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 Full Truck Alliance Co. Ltd.:
Full Truck Alliance Co. Ltd., together with its subsidiaries, operates a digital freight platform that connects shippers with truckers to facilitate shipments across distance ranges, cargo weights, and types in the People's Republic of China. The company offers freight listing, matching, and brokerage services; and online transaction services, as well as various value-added services, such as credit solutions, insurance brokerage, electronic toll collection, and energy services. It also provides technology development and other services. The company was founded in 2011 and is based in Guiyang, China.
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.
