Breakout Stocks of Week 13
NASDAQ was up last week (week 12) by 2.68% ending at 16,401.84 points after gaining 428.66 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 Netflix NASDAQ:NFLX. This stock has had a buy signal since Jan 04, 2024 when the price was $474.67 and is so far up 32.30% to $628.01. Some other companies are on our watchlist to, among these are CommVault Systems NASDAQ:CVLT Ecolab Inc NYSE:ECL Gentherm Inc NASDAQ:THRM and Nokia Corporation NYSE:NOK which all got a breakout pattern emerging.
| Date | Company | Price | Week 13 |
|---|---|---|---|
| Netflix | $628.01 | $607.33 | -3.29% |
| Commvault Systems | $100.54 | $101.43 | 0.89% |
| Ecolab Inc | $229.27 | $230.90 | 0.711% |
| Gentherm Inc | $54.98 | $57.58 | 4.73% |
| Nokia Corporation | $3.58 | $3.54 | -1.12% |
The Netflix stock price gained 0.85% on the last trading day (Friday, 22nd Mar 2024), rising from $622.71 to $628.01. During the last trading day the stock fluctuated 1.24% from a day low at $621.32 to a day high of $629.05. The price has risen in 6 of the last 10 days and is up by 3.83% over the past 2 weeks. Volume fell on the last day by -380 thousand shares and in total, 2 million shares were bought and sold for approximately $1.33 billion. 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 19, 2024, it was reported that MoffettNathanson gave NFLX a "Neutral" grade with a "hold" action.
Netflix 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 Netflix:
Netflix, Inc. provides entertainment services. It offers TV series, documentaries, feature films, and mobile games across various genres and languages. The company provides members the ability to receive streaming content through a host of internet-connected devices, including TVs, digital video players, television set-top boxes, and mobile devices. It also provides DVDs-by-mail membership services in the United States. The company has approximately 222 million paid members in 190 countries. Netflix, Inc. was incorporated in 1997 and is headquartered in Los Gatos, California.
The CommVault Systems stock price gained 0.299% on the last trading day (Friday, 22nd Mar 2024), rising from $100.24 to $100.54. 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 0.89% from a day low at $100.05 to a day high of $100.94. The price has risen in 7 of the last 10 days and is up by 1.83% over the past 2 weeks. Volume fell on the last day by -63 thousand shares and in total, 154 thousand shares were bought and sold for approximately $15.47 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 May 01, 2024, it was reported that Lake Street gave CVLT a "Hold" 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 CommVault Systems stock to perform well in the short-term.
About CommVault Systems:
Commvault Systems, Inc. provides data protection and information management software applications and related services in the United States and internationally. The company offers Commvault Backup and Recovery, a backup and recovery solution; Commvault Disaster Recovery, a replication and disaster recovery solution; and Commvault Complete Data Protection, a data protection solution. It also provides Commvault HyperScale X, an easy-to-deploy scale-out solution; Commvault Distributed Storage Platform that offers software-defined storage built on a hyperscale architecture; Metallic Cloud Storage service, which is the easy button to adopt secure and scalable cloud storage; and Metallic Software-as-a-Service. In addition, the company provides technology and business consulting, education, and remote managed services. Further, it sells appliances that integrate the software with hardware for use in a range of business needs and use cases; and offers professional and customer support services that include data management-as-a-service under the Metallic brand. The company sells its products and services directly through its sales force, and indirectly through its network of distributors, value-added resellers, systems integrators, corporate resellers, and original equipment manufacturers to large enterprises, small and medium sized businesses, and government agencies. It supports customers in a range of industries, including banking, insurance and financial services, government, healthcare, pharmaceuticals and medical services, technology, legal, manufacturing, utilities, and energy. Commvault Systems, Inc. was founded in 1988 and is headquartered in Tinton Falls, New Jersey.
The Ecolab Inc stock price gained 0.197% on the last trading day (Friday, 22nd Mar 2024), rising from $228.82 to $229.27. It has now gained 3 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 0.783% from a day low at $228.02 to a day high of $229.80. The price has risen in 7 of the last 10 days and is up by 2.6% over the past 2 weeks. Volume fell on the last day by -380 thousand shares and in total, 909 thousand shares were bought and sold for approximately $208.42 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 May 01, 2024, it was reported that BMO Capital gave ECL a "Market Perform" 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 Ecolab Inc stock to perform well in the short-term.
About Ecolab Inc:
Ecolab Inc. provides water, hygiene, and infection prevention solutions and services in the United States and internationally. The company operates through Global Industrial, Global Institutional & Specialty, and Global Healthcare & Life Sciences segments. The Global Industrial segment offers water treatment and process applications, and cleaning and sanitizing solutions to manufacturing, food and beverage processing, transportation, chemical, metals and mining, power generation, pulp and paper, commercial laundry, petroleum, refining, and petrochemical industries. The Global Institutional & Specialty segment provides specialized cleaning and sanitizing products to the foodservice, hospitality, lodging, government and education, and retail industries. Its Global Healthcare & Life Sciences segment offers specialized cleaning and sanitizing products to the healthcare, personal care, and pharmaceutical industries, such as infection prevention and surgical solutions, and end-to-end cleaning and contamination control solutions under the Ecolab, Microtek, and Anios brand names. The company's Other segment offers pest elimination services to detect, eliminate, and prevent pests, such as rodents and insects in restaurants, food and beverage processors, educational and healthcare facilities, hotels, quick service restaurant and grocery operations, and other institutional and commercial customers. This segment also provides colloidal silica for binding and polishing applications in semiconductor, catalyst, and aerospace component manufacturing, as well as chemical industries; and products and services that manage wash process through custom designed programs, premium products, dispensing equipment, water and energy management, and reduction, as well as real time data management. It sells its products through field sales and corporate account personnel, distributors, and dealers. The company was founded in 1923 and is headquartered in Saint Paul, Minnesota.
The Gentherm Inc stock price fell by -0.99% on the last day (Friday, 22nd Mar 2024) from $55.53 to $54.98. During the last trading day the stock fluctuated 1.27% from a day low at $54.94 to a day high of $55.64. The price has fallen in 7 of the last 10 days and is down by -1.31% 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 -108 thousand shares and in total, 125 thousand shares were bought and sold for approximately $6.85 million.
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 Gentherm Inc stock to perform well in the short-term.
About Gentherm Inc:
Gentherm Incorporated designs, develops, manufactures, and markets thermal management technologies. The company operates in two segments, Automotive and Medical. The Automotive segment offers climate comfort systems, which include seat heaters, blowers, and thermoelectric devices for variable temperature climate control seats and steering wheel heaters that are designed to provide thermal comfort to automobile passengers; integrated electronic components, such as electronic control units that utilize proprietary electronics technology and software; and other climate comfort systems, including neck conditioners and climate control system products for door panels, armrests, cupholders, and storage bins. It also provides battery performance solutions comprising cell connecting devices and battery cable technologies used for various types of automotive batteries, as well as thermal management products for heating and cooling 12 volts, 48 volts, and high voltage batteries and battery modules; and automotive electronic and software systems, including electronic control units for climate comfort systems, as well as for memory seat modules and other devices. This segment serves light vehicle original equipment manufacturers and first tier suppliers, such as automotive seat manufacturers, as well as aftermarket seat distributors and installers. The Medical segment offers patient temperature management systems. The company provides its products and services in the United States, Germany, Canada, China, Hungary, Japan, South Korea, Romania, Macedonia, Malta, Mexico, the United Kingdom, Ukraine, and Vietnam. The company was formerly known as Amerigon Incorporated and changed its name to Gentherm Incorporated in September 2012. Gentherm Incorporated was incorporated in 1991 and is headquartered in Northville, Michigan.
No changes to the price of Nokia stock on the last trading day (Friday, 22nd Mar 2024). During the last trading day the stock fluctuated 0.98% from a day low at $3.56 to a day high of $3.59. The price has risen in 6 of the last 10 days but is still down by -1.1% for this period.
On Dec 13, 2023, it was reported that Raymond James gave NOK 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 Nokia stock to perform well in the short-term.
About Nokia Corporation:
Nokia Oyj provides mobile, fixed, and cloud network solutions worldwide. The company operates through four segments: Mobile Networks, Network Infrastructure, Cloud and Network Services, and Nokia Technologies. It offers products and services for radio access networks covering technologies from 2G to 5G, and microwave radio links for transport networks. The company provides fixed networking solutions, such as fiber and copper-based access infrastructure, and cloud and virtualization services, as well as wi-fi portfolio, including mesh solutions and cloud-based controllers; IP routing solutions for IP aggregation, and edge and core applications for residential, business, mobile, and industrial services; a portfolio of optical networks comprising portfolio coherent optical transponders, optical transport network switchers, wavelength-division multiplexers, reconfigurable optical add-drop multiplexer solutions, and optical line systems for metro access and aggregation, data center interconnect, regional, and long-haul/ultra-long-haul applications; and submarine networks. In addition, it offers business applications software, cloud and cognitive services, core networks software, and enterprise solutions. Further, the company provides hardware, software, and services, as well as licensing of intellectual property, including patents, technologies, and the Nokia brand. It serves communications service providers, webscales, hyperscalers, digital industries, and government. Nokia Oyj was founded in 1865 and is headquartered in Espoo, Finland.
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.
