Breakout Stocks of Week 22
NASDAQ was up last week (week 21) by 1.33% ending at 16,920.80 points after gaining 222.47 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 Shockwave Medical Inc. NASDAQ:SWAV. This stock has had a buy signal since Jan 04, 2024 when the price was $196.46 and is so far up 70.09% to $334.15. Some other companies are on our watchlist to, among these are Towne Bank NASDAQ:TOWN Oxford Industries Inc NYSE:OXM Copa Holdings SA NYSE:CPA and American Assets Trust Inc NYSE:AAT which all got a breakout pattern emerging.
| Date | Company | Price | Week 22 |
|---|---|---|---|
| Shockwave Medical Inc. | $334.15 | $334.75 | 0.180% |
| Towne Bank | $27.11 | $27.19 | 0.295% |
| Oxford Industries Inc | $106.00 | $110.69 | 4.42% |
| Copa Holdings Sa | $100.65 | $97.23 | -3.40% |
| American Assets Trust Inc | $21.13 | $21.75 | 2.93% |
The Shockwave Medical Inc. stock price gained 0.0150% on the last trading day (Friday, 24th May 2024), rising from $334.10 to $334.15. 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 0.0419% from a day low at $334.10 to a day high of $334.24. The price has been going up and down for this period, and there has been a 1.09% gain for the last 2 weeks. Volume fell on the last day by -445 thousand shares and in total, 1 million shares were bought and sold for approximately $397.58 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 09, 2024, it was reported that Wells Fargo gave SWAV a "Equal-Weight" grade with a "hold" action.
Shockwave Medical 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 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 Towne Bank stock price gained 0.556% on the last trading day (Friday, 24th May 2024), rising from $26.96 to $27.11. During the last trading day the stock fluctuated 0.93% from a day low at $26.91 to a day high of $27.16. The price has risen in 6 of the last 10 days but is still down by -1.24% for this period. Volume fell on the last day by -43 thousand shares and in total, 133 thousand shares were bought and sold for approximately $3.61 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.
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 Towne Bank stock to perform well in the short-term period.
About Towne Bank:
TowneBank provides retail and commercial banking services for individuals, commercial enterprises, and professionals. The company operates through three segments: Banking, Realty, and Insurance. It accepts various deposits, including demand deposits, savings accounts, money rate savings, certificates of deposit, and individual retirement accounts. The company also offers secured and unsecured personal loans for financing automobiles, home improvements, education, and personal investments; commercial loans for working capital, business expansion, and equipment and machinery purchases; and mortgage loans, as well as real estate acquisition, development, and construction loans. In addition, it provides other services, such as safe deposit boxes, treasury management services, direct deposit of payroll and social security checks, and automatic drafts for various accounts, as well as online, mobile, and on-call banking services. Further, the company offers documentation services to accomplish tax deferral to investors; investment and asset management services; commercial mortgage brokerage services; and other financial services, such as financial, retirement, and estate planning services, as well as assistance on various investment options comprising alternative investments, annuities, margin accounts, convertible bonds, and pension and profit-sharing plans. Additionally, it provides residential real estate, relocation, property management, vacations rental, and title and settlement services; and originates residential mortgage loans. The company also offers life, property, casualty, and vehicle insurance services; and employee benefit programs, such as health, dental, vision, and disability insurance. It operates in Richmond, Virginia, the Greater Hampton Roads region in southeastern Virginia, northeastern North Carolina, Raleigh, Charlotte, Greensboro, and Greenville, North Carolina. TowneBank was incorporated in 1998 and is headquartered in Portsmouth, Virginia.
The Oxford Industries Inc stock price gained 1.82% on the last trading day (Friday, 24th May 2024), rising from $104.11 to $106.00. During the last trading day the stock fluctuated 1.91% from a day low at $104.25 to a day high of $106.24. The price has fallen in 7 of the last 10 days and is down by -2.97% for this period. Volume fell on the last day by -167 thousand shares and in total, 257 thousand shares were bought and sold for approximately $27.26 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 Jun 13, 2024, it was reported that KeyBanc gave OXM a "Overweight" 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 Oxford Industries Inc:
Oxford Industries, Inc., an apparel company, designs, sources, markets, and distributes products of lifestyle and other brands worldwide. The company offers men's and women's sportswear and related products under the Tommy Bahama brand; women's and girl's dresses and sportswear, scarves, bags, jewelry, and belts, as well as footwear and children's apparel and swimwear under the Lilly Pulitzer brand; and men's shirts, pants, shorts, outerwear, ties, swimwear, footwear, and accessories, as well as women and youth products under the Southern Tide brand. It also designs, sources, markets, and distributes premium childrenswear, including bonnets, hats, apparel, swimwear, and accessories through thebeaufortbonnetcompany.com and wholesale specialty retailers; men's apparel, which include pants, shorts, and tops through duckhead.com and wholesale specialty retailers. In addition, the company licenses Tommy Bahama brand for various products, such as indoor and outdoor furniture, beach chairs, bedding and bath linens, fabrics, leather goods and gifts, headwear, hosiery, sleepwear, shampoo, toiletries, fragrances, cigar accessories, distilled spirits, and other products; Lilly Pulitzer for stationery and gift products, home furnishing products, and eyewear; and Southern Tide trademark for bed and bath product. Oxford Industries, Inc. offers products through its retail stores, department stores, specialty stores, multi-branded e-commerce retailers, off-price retailers, and other retailers, as well as e-commerce sites. As of January 29, 2022, it operated 186 brand-specific full-price retail stores; 21 Tommy Bahama food and beverage locations; and 35 Tommy Bahama outlet stores. Oxford Industries, Inc. was founded in 1942 and is headquartered in Atlanta, Georgia.
The Copa Holdings SA stock price gained 2.28% on the last trading day (Friday, 24th May 2024), rising from $98.41 to $100.65. During the last trading day the stock fluctuated 3.55% from a day low at $97.41 to a day high of $100.87. The price has fallen in 6 of the last 10 days and is down by -2.75% for this period. Volume fell on the last day by -121 thousand shares and in total, 280 thousand shares were bought and sold for approximately $28.22 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 Jun 18, 2024, it was reported that Cowen & Co. gave CPA a "Buy" 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 Copa Holdings SA:
Copa Holdings, S.A., through its subsidiaries, provides airline passenger and cargo services. The company offers approximately 204 daily scheduled flights to 69 destinations in 29 countries in North, Central, and South America, as well as the Caribbean from its Panama City hub. As of December 31, 2021, it operated a fleet of 91 aircraft comprising 77 Boeing 737-Next Generation aircraft and 14 Boeing 737 MAX 9 aircraft. Copa Holdings, S.A. was founded in 1947 and is based in Panama City, Panama.
The American Assets Trust Inc stock price gained 0.237% on the last trading day (Friday, 24th May 2024), rising from $21.08 to $21.13. During the last trading day the stock fluctuated 1.14% from a day low at $21.08 to a day high of $21.32. The price has risen in 7 of the last 10 days but is still down by -3.74% for this period. Volume fell on the last day by -136 thousand shares and in total, 162 thousand shares were bought and sold for approximately $3.43 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 Aug 29, 2022, it was reported that Morgan Stanley gave AAT a "Equal-Weight" 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 American Assets Trust Inc:
American Assets Trust, Inc. is a full service, vertically integrated and self-administered real estate investment trust, or REIT, headquartered in San Diego, California. The company has over 50 years of experience in acquiring, improving, developing and managing premier office, retail, and residential properties throughout the United States in some of the nation's most dynamic, high-barrier-to-entry markets primarily in Southern California, Northern California, Oregon, Washington, Texas and Hawaii. The company's office portfolio comprises approximately 3.4 million rentable square feet, and its retail portfolio comprises approximately 3.1 million square feet. In addition, the company owns one mixed-use property (including approximately 97,000 rentable square feet of retail space and a 369-room all-suite hotel) and 2,112 multifamily units. In 2011, the company was formed to succeed to the real estate business of American Assets, Inc., a privately held corporation founded in 1967 and, as such, has significant experience, long-standing relationships and extensive knowledge of its core markets, submarkets and asset classes.
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.
