Breakout Stocks of Week 1
NASDAQ was down last week (week 52) by -3.25% ending at 14,524.07 points after falling -487.28 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 Baxter International Inc NYSE:BAX. This stock has had a buy signal since Dec 19, 2023 when the price was $38.69 and is so far up 1.21% to $39.16. Some other companies are on our watchlist to, among these are Antero Midstream Partners LP NYSE:AM Xerox Corporation NYSE:XRX Wendy NASDAQ:WEN and Biomea Fusion, Inc. NASDAQ:BMEA which all got a breakout pattern emerging.
| Date | Company | Price | Week 1 |
|---|---|---|---|
| Baxter International Inc | $39.16 | $40.00 | 2.15% |
| Antero Midstream Partners Lp | $12.45 | $12.26 | -1.53% |
| Xerox Corporation | $16.32 | $16.06 | -1.59% |
| Wendy | $18.99 | $19.47 | 2.53% |
| Biomea Fusion, Inc. | $14.71 | $15.21 | 3.40% |
The Baxter International Inc stock price gained 1.37% on the last trading day (Friday, 5th Jan 2024), rising from $38.63 to $39.16. During the last trading day the stock fluctuated 3.28% from a day low at $38.39 to a day high of $39.65. The price has risen in 7 of the last 10 days and is up by 1.45% 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, 211 thousand more shares were traded than the day before. In total, 3 million shares were bought and sold for approximately $134.55 million.
On Apr 03, 2024, it was reported that Citigroup gave BAX a "Neutral" 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 Baxter International Inc stock to perform well in the short-term.
About Baxter International Inc:
Baxter International Inc., through its subsidiaries, develops and provides a portfolio of healthcare products worldwide. The company offers peritoneal dialysis and hemodialysis, and additional dialysis therapies and services; intravenous therapies, infusion pumps, administration sets, and drug reconstitution devices; remixed and oncology drug platforms, inhaled anesthesia and critical care products and pharmacy compounding services; parenteral nutrition therapies and related products; biological products and medical devices used in surgical procedures for hemostasis, tissue sealing and adhesion prevention; and continuous renal replacement therapies and other organ support therapies focused in the intensive care unit. It also provides connected care solutions, including devices, software, communications, and integration technologies; integrated patient monitoring and diagnostic technologies to help diagnose, treat, and manage a various illness and diseases, including respiratory therapy, cardiology, vision screening, and physical assessment; surgical video technologies, tables, lights, pendants, precision positioning devices and other accessories. In addition, the company offers contracted services to various pharmaceutical and biopharmaceutical companies. Its products are used in hospitals, kidney dialysis centers, nursing homes, rehabilitation centers, doctors' offices, and patients at home under physician supervision. The company sells its products through direct sales force, as well as through independent distributors, drug wholesalers, and specialty pharmacy or other alternate site providers in approximately 100 countries. It has an agreement with Celerity Pharmaceutical, LLC to develop acute care generic injectable premix and oncolytic molecules. Baxter International Inc. was incorporated in 1931 and is headquartered in Deerfield, Illinois.
The Antero Midstream Partners LP stock price gained 0.97% on the last trading day (Friday, 5th Jan 2024), rising from $12.33 to $12.45. During the last trading day the stock fluctuated 1.86% from a day low at $12.34 to a day high of $12.57. The price has been going up and down for this period, and there has been a 0.08% gain for the last 2 weeks. Volume fell on the last day by -72 thousand shares and in total, 3 million shares were bought and sold for approximately $35.88 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 Oct 24, 2023, it was reported that B. Riley Securities gave AM a "Neutral" grade with a "hold" 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 Antero Midstream Partners LP:
Antero Midstream Corporation owns, operates, and develops midstream energy infrastructure. It operates through Gathering and Processing, and Water Handling segments. The Gathering and Processing segment includes a network of gathering pipelines and compressor stations that collects and processes production from Antero Resources' wells in West Virginia and Ohio. The Water Handling segment delivers fresh water; and offers pumping stations, water storage, and blending facilities. The company was incorporated in 2013 and is headquartered in Denver, Colorado.
The Xerox Corporation stock price fell by -1.51% on the last day (Friday, 5th Jan 2024) from $16.57 to $16.32. During the last trading day the stock fluctuated 3.21% from a day low at $16.26 to a day high of $16.78. The price has fallen in 6 of the last 10 days and is down by -10.77% 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 -646 thousand shares and in total, 2 million shares were bought and sold for approximately $28.45 million.
On Apr 01, 2024, it was reported that Credit Suisse gave XRX a "Underperform" 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 Xerox Corporation stock to perform well in the short-term.
About Xerox Corporation:
Xerox Holdings Corporation, a workplace technology company, designs, develops, and sells document management systems and solutions in the United States, Europe, Canada, and internationally. It offers workplace solutions, including desktop monochrome, and color and multifunction printers; digital printing presses and light production devices, and solutions; and digital services that leverage workflow automation, personalization and communication software, content management solutions, and digitization services. The company also provides graphic communications and production solutions; and IT services, end user computing devices, network infrastructure, communications technology, and a range of managed IT solutions, such as technology product support, professional engineering, and commercial robotic process automation. In addition, it provides FreeFlow a portfolio of software solutions for the automation and integration to the processing of print job comprises file preparation, final production, and electronic publishing; XMPie, a personalization and communication software that support the needs of omni-channel communications customers; DocuShare, a content management platform to capture, store, and share paper and digital content; and CareAR, an enterprise augmented reality business. Further, the company sells paper products and wide-format systems. The company sells its products and services directly to its customers through its direct sales force, as well as through independent agents, dealers, value-added resellers, systems integrators, and e-commerce marketplaces. Xerox Holdings Corporation was founded in 1906 and is headquartered in Norwalk, Connecticut.
The Wendy stock price gained 0.476% on the last trading day (Friday, 5th Jan 2024), rising from $18.90 to $18.99. During the last trading day the stock fluctuated 1.78% from a day low at $18.77 to a day high of $19.11. The price has fallen in 7 of the last 10 days and is down by -4.33% for this period. Volume fell on the last day by -149 thousand shares and in total, 3 million shares were bought and sold for approximately $57.14 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 Citigroup gave WEN a "Neutral" grade with a "hold" 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 Wendy:
The Wendy's Company, together with its subsidiaries, operates as a quick-service restaurant company. It operates through three segments: Wendy's U.S., Wendy's International, and Global Real Estate & Development. The company is involved in operating, developing, and franchising a system of quick-service restaurants specializing in hamburger sandwiches. As of January 2, 2022, it operated approximately 403 company-operated restaurants; 5,535 franchised restaurants in the United States; and 1,006 franchised restaurants internationally. The company also owns and leases real estate properties. It owns 485 and leases 1,235 properties, which are leased or subleased to franchisees. The company was formerly known as Wendy's/Arby's Group, Inc. and changed its name to The Wendy's Company in July 2011. The Wendy's Company was founded in 1969 and is headquartered in Dublin, Ohio.
The Biomea Fusion, Inc. stock price fell by -3.86% on the last day (Friday, 5th Jan 2024) from $15.30 to $14.71. During the last trading day the stock fluctuated 5.55% from a day low at $14.60 to a day high of $15.41. The price has risen in 6 of the last 10 days and is up by 6.98% over the past 2 weeks. 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 -181 thousand shares and in total, 842 thousand shares were bought and sold for approximately $12.39 million.
On Apr 07, 2023, it was reported that Citigroup gave BMEA 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 Biomea Fusion, Inc. stock to perform well in the short-term.
About Biomea Fusion, Inc.:
Biomea Fusion, Inc., a biopharmaceutical company, focuses on the discovery and development of irreversible small molecules to treat patients with genetically defined cancers and metabolic diseases. Its lead product candidate is BMF-219, an orally bioavailable, potent, and selective irreversible inhibitor of menin, a transcriptional regulator in oncogenic signaling in multiple cancers. The company was incorporated in 2017 and is headquartered in Redwood City, California.
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.
