Breakout Stocks of Week 15
NASDAQ was down last week (week 14) by -0.799% ending at 16,248.52 points after falling -130.94 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 EMCOR Group Inc NYSE:EME. This stock has had a buy signal since Jan 16, 2024 when the price was $220.28 and is so far up 65.71% to $365.02. Some other companies are on our watchlist to, among these are XPO Logistics Inc NYSE:XPO Parsons Corporation NYSE:PSN Allison Transmission Holdings Inc NYSE:ALSN and Martin Marietta Materials Inc NYSE:MLM which all got a breakout pattern emerging.
| Date | Company | Price | Week 15 |
|---|---|---|---|
| Emcor Group Inc | $365.02 | $351.88 | -3.60% |
| Xpo Logistics Inc | $128.16 | $125.80 | -1.84% |
| Parsons Corporation | $84.28 | $80.41 | -4.59% |
| Allison Transmission Holdings Inc | $82.29 | $80.88 | -1.71% |
| Martin Marietta Materials Inc | $619.41 | $602.11 | -2.79% |
The EMCOR Group Inc stock price gained 2.21% on the last trading day (Friday, 5th Apr 2024), rising from $357.13 to $365.02. During the last trading day the stock fluctuated 2.66% from a day low at $358.25 to a day high of $367.79. The price has risen in 7 of the last 10 days and is up by 5.53% 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, 59 thousand more shares were traded than the day before. In total, 364 thousand shares were bought and sold for approximately $132.94 million.
EMCOR Group 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 EMCOR Group Inc:
EMCOR Group, Inc. provides electrical and mechanical construction, and facilities services primarily in the United States and the United Kingdom. It offers design, integration, installation, starts-up, operation, and maintenance services related to electrical power transmission, distribution, and generation systems; energy solutions; premises electrical and lighting systems; process instrumentation in the refining, chemical processing, and food processing industries; low-voltage systems, such as fire alarm, security, and process control systems; voice and data communications systems; roadway and transit lighting, signaling, and fiber optic lines; heating, ventilation, air conditioning, refrigeration, and geothermal solutions; clean-room process ventilation systems; fire protection and suppression systems; plumbing, process, and high-purity piping systems; controls and filtration systems; water and wastewater treatment systems; central plant heating and cooling systems; crane and rigging services; millwright services; and steel fabrication, erection, and welding services. The company also provides building services that cover commercial and government site-based operations and maintenance; facility management, maintenance, and services; outage services to utilities and industrial plants; military base operations support services; mobile mechanical maintenance and services; services for indoor air quality; floor care and janitorial services; landscaping, lot sweeping, and snow removal services; vendor management and call center services; installation and support for building systems; program development, management, and maintenance for energy systems; technical consulting and diagnostic services; infrastructure and building projects; small modification and retrofit projects; and other building services. It offers industrial services to oil, gas, and petrochemical industries. EMCOR Group, Inc. was incorporated in 1987 and is headquartered in Norwalk, Connecticut.
The XPO Logistics Inc stock price gained 4.73% on the last trading day (Friday, 5th Apr 2024), rising from $122.37 to $128.16. During the last trading day the stock fluctuated 3.76% from a day low at $123.60 to a day high of $128.25. The price has fallen in 6 of the last 10 days but is still up by 2.18% 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, 346 thousand more shares were traded than the day before. In total, 1 million shares were bought and sold for approximately $136.86 million.
On Apr 16, 2024, it was reported that Benchmark gave XPO a "Buy" grade with a "hold" action.
XPO Logistics 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 XPO Logistics Inc:
XPO Logistics, Inc. provides freight transportation services in the United States, rest of North America, France, the United Kingdom, rest of Europe, and internationally. The company operates in two segments, North American LTL and Brokerage and Other Services. The North American LTL segment provides customers with less-than-truckload (LTL) services, such as geographic density and day-definite regional, inter-regional, and transcontinental LTL freight services. This segment also offers cross-border U.S. service to and from Mexico and Canada, as well as intra-Canada service. The Brokerage and Other Services segment offers last mile logistics for heavy goods sold through e-commerce, omnichannel retail, and direct-to-consumer channels, as well as other non-core brokered freight transportation modes. It provides its services to customers in various industries, such as industrial and manufacturing, retail and e-commerce, food and beverage, logistics and transportation, and consumer goods. The company was incorporated in 2000 and is based in Greenwich, Connecticut.
The Parsons Corporation stock price gained 1.53% on the last trading day (Friday, 5th Apr 2024), rising from $83.01 to $84.28. During the last trading day the stock fluctuated 2.52% from a day low at $82.88 to a day high of $84.97. The price has risen in 6 of the last 10 days and is up by 1.21% 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, 261 thousand more shares were traded than the day before. In total, 833 thousand shares were bought and sold for approximately $70.19 million.
On Apr 19, 2024, it was reported that KeyBanc gave PSN a "Overweight" grade with a "hold" action.
Parsons Corporation 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 Parsons Corporation:
Parsons Corporation provides integrated solutions and services in the defense, intelligence, and critical infrastructure markets in North America, the Middle East, and internationally. It operates through two segments, Federal Solutions and Critical Infrastructure. The company offers cyber security and intelligence services, as well as offensive and defensive cybersecurity platforms, tools, and operations to the U.S. Department of Defense and the United States intelligence community; space and geospatial solutions, such as geospatial intelligence, threat analytics, space situational awareness, small satellite launch and integration, satellite ground systems, fight dynamics, and command, and control solutions to the National Geospatial-Intelligence Agency, National Reconnaissance Office, and multiple units within the U.S. Department of Defense. It also provides missile defense and C5ISR solutions, such as integrated air and missile defense, data fusion and analytics, platform system integration, directed energy, joint all-domain operations, and command and control systems to Defense Intelligence Agency and the U.S. Department of Defense; technology services for energy production systems, aviation, healthcare and bio-surveillance systems, and environmental systems and associated infrastructure, as well as nuclear waste processing and treatment, weapons of mass destruction elimination, program and project management, infectious disease control analytics, and data protection solutions. In addition, the company offers intelligent transportation system management, aviation, rail and transit systems, smart cities software, and critical infrastructure cyber protection to the transportation authorities, rail, and transit entities; engineering services for infrastructure; and program management, and environmental solutions to private-sector industrial clients and public utilities. Parsons Corporation was founded in 1944 and is headquartered in Centreville, Virginia.
The Allison Transmission Holdings Inc stock price gained 0.661% on the last trading day (Friday, 5th Apr 2024), rising from $81.75 to $82.29. During the last trading day the stock fluctuated 1.65% from a day low at $81.65 to a day high of $83.00. The price has risen in 8 of the last 10 days and is up by 4.87% 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, 139 thousand more shares were traded than the day before. In total, 633 thousand shares were bought and sold for approximately $52.12 million.
On Apr 15, 2024, it was reported that Morgan Stanley gave ALSN a "Equal-Weight" grade with a "hold" action.
Allison Transmission 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 Allison Transmission Holdings Inc:
Allison Transmission Holdings, Inc., together with its subsidiaries, designs, manufactures, and sells commercial and defense fully-automatic transmissions for medium-and heavy-duty commercial vehicles, and medium-and heavy-tactical U.S. defense vehicles worldwide. It offers transmissions for various applications, including distribution, refuse, construction, fire, and emergency on-highway trucks; school and transit buses; motor homes; energy, mining, and construction off-highway vehicles and equipment; and wheeled and tracked defense vehicles. The company markets its transmissions under the Allison Transmission brand name; and remanufactured transmissions under the ReTran brand name. It also sells branded replacement parts, support equipment, aluminum die cast components, and other products necessary to service the installed base of vehicles utilizing its transmissions, as well as defense kits, engineering services, and extended transmission coverage services to various original equipment manufacturers, distributors, and the U.S. government. The company serves customers through an independent network of approximately 1,400 independent distributor and dealer locations. The company was formerly known as Clutch Holdings, Inc. Allison Transmission Holdings, Inc. was founded in 1915 and is headquartered in Indianapolis, Indiana.
The Martin Marietta Materials Inc stock price gained 2.54% on the last trading day (Friday, 5th Apr 2024), rising from $604.09 to $619.41. During the last trading day the stock fluctuated 2.89% from a day low at $604.52 to a day high of $621.98. The price has been going up and down for this period, and there has been a 1.05% gain for the last 2 weeks. Volume fell on the last day by -36 thousand shares and in total, 344 thousand shares were bought and sold for approximately $212.92 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 15, 2024, it was reported that Morgan Stanley gave MLM a "Overweight" grade with a "hold" action.
Martin Marietta Materials 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 Martin Marietta Materials Inc:
Martin Marietta Materials, Inc., a natural resource-based building materials company, supplies aggregates and heavy-side building materials to the construction industry in the United States and internationally. It offers crushed stone, sand, and gravel products; ready mixed concrete and asphalt; paving products and services; and Portland and specialty cement for use in the infrastructure projects, and nonresidential and residential construction markets, as well as in the railroad, agricultural, utility, and environmental industries. The company also produces magnesia-based chemicals products that are used in industrial, agricultural, and environmental applications; and dolomitic lime primarily to customers for steel production and soil stabilization. Its chemical products are used in flame retardants, wastewater treatment, pulp and paper production, and other environmental applications. The company was founded in 1939 and is headquartered in Raleigh, North Carolina.
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.
