Breakout Stocks of Week 19
NASDAQ was up last week (week 18) by 1.43% ending at 16,156.33 points after gaining 228.43 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 Constellation Energy Corporation NASDAQ:CEG. This stock has had a buy signal since Jan 30, 2024 when the price was $121.88 and is so far up 59.88% to $194.86. Some other companies are on our watchlist to, among these are Shockwave Medical Inc. NASDAQ:SWAV Pilgrim NASDAQ:PPC Mizuho Financial Group Inc NYSE:MFG and Summit Materials Inc NYSE:SUM which all got a breakout pattern emerging.
| Date | Company | Price | Week 19 |
|---|---|---|---|
| Constellation Energy Corporation | $194.86 | $214.93 | 10.30% |
| Shockwave Medical Inc. | $330.38 | $330.55 | 0.0515% |
| Pilgrim | $36.28 | $37.13 | 2.34% |
| Mizuho Financial Group Inc | $3.96 | $4.00 | 1.01% |
| Summit Materials Inc | $39.46 | $40.61 | 2.91% |
The Constellation Energy Corporation stock price gained 4.66% on the last trading day (Friday, 3rd May 2024), rising from $186.18 to $194.86. During the last trading day the stock fluctuated 4.93% from a day low at $188.00 to a day high of $197.27. The price has risen in 7 of the last 10 days and is up by 7.72% 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, 560 thousand more shares were traded than the day before. In total, 3 million shares were bought and sold for approximately $608.82 million.
On Jun 12, 2024, it was reported that RBC Capital gave CEG a "Sector Perform" grade with a "hold" action.
Constellation Energy 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 Constellation Energy Corporation:
Constellation Energy Corporation generates and sells electricity in the United States. The company operates through five segments: Mid-Atlantic, Midwest, New York, ERCOT, and Other Power Regions. It sells natural gas, renewable energy, and other energy-related products and services. The company has 32,400 megawatts of generating capacity consisting of nuclear, wind, solar, natural gas, and hydroelectric assets. It serves distribution utilities; municipalities; cooperatives; and commercial, industrial, governmental, and residential customers. The company was incorporated in 2021 and is headquartered in Baltimore, Maryland. Constellation Energy Corporation was formerly a subsidiary of Exelon Corporation.
The Shockwave Medical Inc. stock price gained 0.115% on the last trading day (Friday, 3rd May 2024), rising from $330.00 to $330.38. During the last trading day the stock fluctuated 0.303% from a day low at $330.00 to a day high of $331.00. The price has risen in 6 of the last 10 days and is up by 0.42% 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, 16 thousand more shares were traded than the day before. In total, 634 thousand shares were bought and sold for approximately $209.45 million.
On May 09, 2024, it was reported that Wells Fargo gave SWAV a "Equal-Weight" 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 Shockwave Medical Inc. stock to perform well in the short-term.
About Shockwave Medical Inc.:
ShockWave Medical, Inc., a medical device company, engages in developing and commercializing intravascular lithotripsy technology for the treatment of calcified plaque in patients with peripheral vascular, coronary vascular, and heart valve diseases worldwide. The company offers M5 catheters for treating above-the-knee peripheral artery disease (PAD); C2 catheters for treating coronary artery disease; and S4 catheters for treating below-the-knee PAD. It serves interventional cardiologists, vascular surgeons, and interventional radiologists through sales representatives and sales managers, and distributors. The company was incorporated in 2009 and is headquartered in Santa Clara, California.
The Pilgrim stock price gained 0.92% on the last trading day (Friday, 3rd May 2024), rising from $35.95 to $36.28. During the last trading day the stock fluctuated 2.20% from a day low at $35.97 to a day high of $36.76. The price has been going up and down for this period, and there has been a 1.43% gain for the last 2 weeks. Volume fell on the last day by -515 thousand shares and in total, 898 thousand shares were bought and sold for approximately $32.59 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 03, 2024, it was reported that BMO Capital gave PPC 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 Pilgrim stock to perform well in the short-term.
About Pilgrim:
Pilgrim's Pride Corporation engages in the production, processing, marketing and distribution of fresh, frozen and value-added chicken, and pork products to retailers, distributors, and foodservice operators in the United States, the United Kingdom, Mexico, the Middle East, Asia, Continental Europe, and internationally. The company offers fresh products, including pre-marinated or non-marinated chicken, frozen whole chickens, breast fillets, mini breast fillets and prepackaged case-ready chicken, primary pork cuts, and pork and pork ribs; prepared products, which include portion-controlled breast fillets, tenderloins and strips, delicatessen products, salads, formed nuggets and patties, and bone-in chicken parts; processed sausages, bacon, slow cooked, smoked meat, gammon joints, as well as variety of meat products, pre-packed meats, sandwich and deli counter meats, pulled pork balls, meatballs, and coated foods. In addition, its exported products include whole chickens and chicken parts sold either refrigerated for distributors in the U.S. or frozen for distribution to export markets and primary pork cuts, hog heads and trotters frozen for distribution to export markets. The company offers its products under the Pilgrim's, Just BARE, Gold'n Pump, Gold Kist, County Pride, Pierce Chicken, Pilgrim's Mexico, County Post, Savoro, To-Ricos, Del Dia, Moy Park, O'Kane, Richmond, Fridge Raiders, and Denny brands. Pilgrim's Pride Corporation sells its products to the foodservice market principally consists of chain restaurants, food processors, broad-line distributors, and other institutions; and retail market, which comprise primarily grocery store chains, wholesale clubs, and other retail distributors. The company was founded in 1946 and is headquartered in Greeley, Colorado. Pilgrim's Pride Corporation operates as a subsidiary of JBS S.A.
The Mizuho Financial Group Inc stock price gained 1.28% on the last trading day (Friday, 3rd May 2024), rising from $3.91 to $3.96. During the last trading day the stock fluctuated 1.28% from a day low at $3.91 to a day high of $3.96. The price has risen in 5 of the last 10 days and is up by 2.86% 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, 184 thousand more shares were traded than the day before. In total, 646 thousand shares were bought and sold for approximately $2.56 million.
On May 16, 2024, it was reported that DBS Bank gave MFG a "Hold" grade with a "downgrade" 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 Mizuho Financial Group Inc stock to perform well in the short-term.
About Mizuho Financial Group Inc:
Mizuho Financial Group, Inc., together with its subsidiaries, engages in banking, trust, securities, and other businesses related to financial services in Japan, the Americas, Europe, Asia/Oceania, and internationally. It operates through five segments: Retail & Business Banking Company, Corporate & Institutional Company, Global Corporate Company, Global Markets Company, and Asset Management Company. The company provides deposit products; syndicated, housing, and card loans; business matching services; and advisory services related to overseas expansions, and mergers and acquisitions-related services. It also offers consulting services, including asset management and asset succession; payroll services; and sells lottery tickets issued by prefectures and ordinance-designated cities. In addition, it offers financial solutions, such as bonds, mergers and acquisitions advisory, risk hedging products, etc. for corporate customers to meet their needs in fund-raising, investment management, and financial strategies; solutions based on their capital management, business strategy, and financial strategy; real estate agency services; advisory services and solutions, such as advice on proposals on various investment products to financial institutions; and financial services that include funding support and public bonds underwriting. Further, the company offers sales and trading services to meet needs for customers; investment products for individual customers; and consulting services for institutional investors. Additionally, the company provides products and services related to trust, securitization and structured finance, pension, and stock transfers; securities services; and research, private banking, and information technology-related services. Mizuho Financial Group, Inc. was incorporated in 2003 and is headquartered in Tokyo, Japan.
The Summit Materials Inc stock price gained 0.92% on the last trading day (Friday, 3rd May 2024), rising from $39.10 to $39.46. During the last trading day the stock fluctuated 2.67% from a day low at $39.27 to a day high of $40.32. The price has risen in 7 of the last 10 days and is up by 3% over the past 2 weeks. Volume fell on the last day by -1 million shares and in total, 1 million shares were bought and sold for approximately $58.14 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 May 15, 2024, it was reported that Wolfe Research gave SUM a "Outperform" grade with a "upgrade" action.
Several short-term signals are positive and we conclude that the current level may hold a buying opportunity, as there is a fair chance for Summit Materials Inc stock to perform well in the short-term period.
About Summit Materials Inc:
Summit Materials, Inc., through its subsidiaries, produces and sells construction materials and related downstream products for the public infrastructure, and residential and nonresidential end markets. It operates through three segments: West, East, and Cement. The company's products include aggregates, cement, ready-mix concrete, asphalt paving mixes, and concrete products, as well as plastics components. It also provides asphalt paving and related services to the private and public infrastructure sectors. In addition, the company operates municipal waste, construction, and demolition debris landfills; and liquid asphalt terminals. It has operations in the United States; and in British Columbia, Canada. The company was founded in 2009 and is headquartered in Denver, Colorado.
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.
