Breakout Stocks of Week 26
NASDAQ was up last week (week 25) by 0.244% ending at 17,732.60 points after gaining 43.24 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 ADMA Biologics Inc NASDAQ:ADMA. This stock has had a buy signal since Apr 23, 2024 when the price was $6.54 and is so far up 70.95% to $11.18. Some other companies are on our watchlist to, among these are Overseas Shipholding Group NYSE:OSG Rithm Capital Corp. NYSE:RITM Entergy Corporation NYSE:ETR and Federal Signal Corporation NYSE:FSS which all got a breakout pattern emerging.
| Date | Company | Price | Change |
|---|---|---|---|
| Adma Biologics Inc | $11.18 | $11.18 ( 28th Jun 2024 ) | 0% |
| Overseas Shipholding Group | $8.48 | $8.48 ( 28th Jun 2024 ) | 0% |
| Rithm Capital Corp. | $10.91 | $10.91 ( 28th Jun 2024 ) | 0% |
| Entergy Corporation | $107.00 | $107.00 ( 28th Jun 2024 ) | 0% |
| Federal Signal Corporation | $83.67 | $83.67 ( 28th Jun 2024 ) | 0% |
The ADMA Biologics Inc stock price gained 2.10% on the last trading day (Friday, 28th Jun 2024), rising from $10.95 to $11.18. During the last trading day the stock fluctuated 2.97% from a day low at $10.93 to a day high of $11.25. The price has risen in 6 of the last 10 days and is up by 3.71% 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, 5 million more shares were traded than the day before. In total, 6 million shares were bought and sold for approximately $71.95 million.
On May 10, 2024, it was reported that Raymond James gave ADMA a "Strong Buy" grade with a "hold" action.
ADMA Biologics 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 ADMA Biologics Inc:
ADMA Biologics, Inc., a biopharmaceutical company, engages in developing, manufacturing, and marketing specialty plasma-derived biologics for the treatment of immune deficiencies and infectious diseases in the United States and internationally. It offers BIVIGAM, an intravenous immune globulin (IVIG) product indicated for the treatment of primary humoral immunodeficiency (PI); ASCENIV, an IVIG product for the treatment of PI; and Nabi-HB for the treatment of acute exposure to blood containing Hepatitis B surface antigen and other listed exposures to Hepatitis B. The company also develops a pipeline of plasma-derived therapeutics, including products related to the methods of treatment and prevention of S. pneumonia infection for an immunoglobulin. In addition, it operates source plasma collection facilities. The company sells its products through independent distributors, sales agents, specialty pharmacies, and other alternate site providers. ADMA Biologics, Inc. was incorporated in 2004 and is headquartered in Ramsey, New Jersey.
The Overseas Shipholding Group stock price gained 0.118% on the last trading day (Friday, 28th Jun 2024), rising from $8.47 to $8.48. During the last trading day the stock fluctuated 0.236% from a day low at $8.47 to a day high of $8.49. The price has risen in 5 of the last 10 days and is up by 0.47% 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, 233 thousand more shares were traded than the day before. In total, 969 thousand shares were bought and sold for approximately $8.22 million.
Overseas Shipholding Group 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 Overseas Shipholding Group:
Overseas Shipholding Group, Inc., together with its subsidiaries, owns and operates a fleet of oceangoing vessels. Its vessels are engaged in the transportation of crude oil and petroleum products in the United States flag trade. As of December 31, 2021, the company owned or operated a fleet of 24 vessels totaling an aggregate of approximately 1.7 million deadweight tons. It serves independent oil traders, refinery operators, and the United States and international government entities. The company was founded in 1948 and is headquartered in Tampa, Florida.
The Rithm Capital Corp. stock price gained 1.02% on the last trading day (Friday, 28th Jun 2024), rising from $10.80 to $10.91. During the last trading day the stock fluctuated 1.11% from a day low at $10.79 to a day high of $10.91. The price has fallen in 7 of the last 10 days and is down by -3.11% for this period. Volume fell on the last day by -237 thousand shares and in total, 3 million shares were bought and sold for approximately $28.11 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 14, 2024, it was reported that Piper Sandler gave RITM 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.
The Entergy Corporation stock price gained 0.225% on the last trading day (Friday, 28th Jun 2024), rising from $106.76 to $107.00. During the last trading day the stock fluctuated 0.83% from a day low at $106.45 to a day high of $107.33. The price has fallen in 6 of the last 10 days and is down by -0.09% for this period. Volume has increased on the last day along with the price, which is a positive technical sign, and, in total, 443 thousand more shares were traded than the day before. In total, 1 million shares were bought and sold for approximately $122.65 million.
On Jun 10, 2024, it was reported that KeyBanc gave ETR a "Overweight" 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 Entergy Corporation stock to perform well in the short-term.
About Entergy Corporation:
Entergy Corporation, together with its subsidiaries, engages in the production and retail distribution of electricity in the United States. The company operates in two segments, Utility and Entergy Wholesale Commodities. The Utility segment generates, transmits, distributes, and sells electric power in portions of Arkansas, Louisiana, Mississippi, and Texas, including the City of New Orleans; and distributes natural gas. The Entergy Wholesale Commodities segment engages in the ownership, operation, and decommissioning of nuclear power plants; and ownership of interests in non-nuclear power plants that sell electric power to wholesale customers, as well as provides services to other nuclear power plant owners. It generates electricity through gas, nuclear, coal, hydro, and solar power sources. The company sells energy to retail power providers, utilities, electric power co-operatives, power trading organizations, and other power generation companies. The company's power plants have approximately 26,000 megawatts (MW) of electric generating capacity, which include 6,000 MW of nuclear power. It delivers electricity to 3 million utility customers in Arkansas, Louisiana, Mississippi, and Texas. The company was founded in 1913 and is headquartered in New Orleans, Louisiana.
The Federal Signal Corporation stock price gained 0.132% on the last trading day (Friday, 28th Jun 2024), rising from $83.56 to $83.67. During the last trading day the stock fluctuated 2.12% from a day low at $83.54 to a day high of $85.31. The price has been going up and down for this period, and there has been a -2.27% loss for the last 2 weeks. Volume has increased on the last day along with the price, which is a positive technical sign, and, in total, 21 thousand more shares were traded than the day before. In total, 326 thousand shares were bought and sold for approximately $27.28 million.
On May 31, 2024, it was reported that William Blair gave FSS a "Outperform" grade with a "initialise" 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 Federal Signal Corporation:
Federal Signal Corporation, together with its subsidiaries, designs, manufactures, and supplies a suite of products and integrated solutions for municipal, governmental, industrial, and commercial customers in the United States, Canada, Europe, and internationally. It operates through Environmental Solutions Group, and Safety and Security Systems Group. The Environmental Solutions Group segment offers a range of street sweepers, safe-digging trucks ,sewer cleaners, industrial vacuum loaders, vacuum, and hydro-excavation trucks; road-marking, line-removal and waterblasting equipment, dump truck bodies, trailers, and metal extraction support equipment under the Elgin, Vactor, Guzzler, TRUVAC, Westech, Jetstream, Mark Rite Lines, Ox Bodies, Crysteel, J-Craft, Duraclass, Rugby, Travis, OSW, NTE, WTB, Ground Force, Bucks, and Switch-N-Go brand names. It also offers refuse and recycling collection vehicles, camera systems, ice resurfacing equipment, and snow-removal equipment, as well as safety, and security systems. In addition, this segment engages in the sale of parts, service and repair, equipment rental, and training activities. The Safety and Security Systems Group segment provides systems and products for community alerting, emergency vehicles, first responder interoperable communications, and industrial communications. Its products include vehicle lightbars and sirens, industrial signaling equipment, public warning systems, general alarm systems, and public address systems. This segment sells its products under the Federal Signal, Federal Signal VAMA, and Victor brand names. The company sells its products through wholesaler, distributor, independent manufacturer representative, original equipment manufacturer, and direct sales force, as well as independent foreign distributor. Federal Signal Corporation was founded in 1901 and is headquartered in Oak Brook, Illinois.
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.
