Breakout Stocks of Week 3
NASDAQ was up last week (week 2) by 2.26% ending at 15,310.97 points after gaining 338.21 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 Builders FirstSource NASDAQ:BLDR. This stock has had a buy signal since Nov 29, 2023 when the price was $134.89 and is so far up 27.89% to $172.51. Some other companies are on our watchlist to, among these are MKS Instruments NASDAQ:MKSI Gen Digital Inc. NASDAQ:GEN Intercontinental Hotels Group NYSE:IHG and Abbott Laboratories NYSE:ABT which all got a breakout pattern emerging.
| Date | Company | Price | Week 3 |
|---|---|---|---|
| Builders Firstsource | $172.51 | $169.52 | -1.73% |
| Mks Instruments | $107.69 | $110.13 | 2.27% |
| Gen Digital Inc. | $23.48 | $23.77 | 1.24% |
| Intercontinental Hotels Group | $95.48 | $95.81 | 0.346% |
| Abbott Laboratories | $114.69 | $112.01 | -2.34% |
The Builders FirstSource stock price gained 4.12% on the last trading day (Friday, 19th Jan 2024), rising from $165.68 to $172.51. During the last trading day the stock fluctuated 4.14% from a day low at $165.69 to a day high of $172.55. The price has risen in 7 of the last 10 days and is up by 9.68% 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, 116 thousand more shares were traded than the day before. In total, 1 million shares were bought and sold for approximately $222.54 million.
On Apr 18, 2024, it was reported that Wedbush gave BLDR a "Buy" grade with a "hold" action.
Builders FirstSource 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 Builders FirstSource:
Builders FirstSource, Inc., together with its subsidiaries, manufactures and supplies building materials, manufactured components, and construction services to professional homebuilders, sub-contractors, remodelers, and consumers in the United States. It offers lumber and lumber sheet goods comprising dimensional lumber, plywood, and oriented strand board products that are used in on-site house framing; manufactured products, such as wood floor and roof trusses, steel roof trusses, wall panels, stairs, and engineered wood products; and windows, and interior and exterior door units, as well as interior and exterior trims and custom products under the Synboard brand name. The company also offers gypsum, roofing, and insulation products, including wallboards, ceilings, joint treatments, and finishes; and siding, metal, and concrete products, such as vinyl, composite, and wood siding products, as well as exterior trims, other exteriors, metal studs, and cement products. In addition, it provides other building products and services, such as cabinets and hardware, as well as turn-key framing, shell construction, design assistance, and professional installation services. The company was formerly known as BSL Holdings, Inc. and changed its name to Builders FirstSource, Inc. in October 1999. Builders FirstSource, Inc. was founded in 1998 and is based in Dallas, Texas.
The MKS Instruments stock price gained 2.86% on the last trading day (Friday, 19th Jan 2024), rising from $104.70 to $107.69. During the last trading day the stock fluctuated 3.75% from a day low at $104.16 to a day high of $108.07. The price has risen in 7 of the last 10 days and is up by 10.62% 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, 31 thousand more shares were traded than the day before. In total, 665 thousand shares were bought and sold for approximately $71.62 million.
On Jan 10, 2024, it was reported that Needham gave MKSI a "Buy" grade with a "hold" action.
MKS Instruments 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 MKS Instruments:
MKS Instruments, Inc. provides instruments, systems, subsystems, and process control solutions that measure, monitor, deliver, analyze, power, and control critical parameters of manufacturing processes worldwide. Its Vacuum & Analysis segment offers pressure and vacuum control solutions, including direct and indirect pressure measurement; materials delivery solutions comprising flow and valve technologies, as well as integrated pressure measurement and control subsystems, which provide customers with precise control capabilities; power solutions products, such as microwave, power delivery systems, radio frequency matching networks, and metrology products used in providing energy to etching, stripping, and deposition processes; and plasma and reactive gas products. Its Light & Motion segment offers laser products, such as continuous wave and pulsed nanosecond, diode and diode-pumped solid-state, and fiber laser technologies; and photonics products comprising motion control, optical tables and vibration isolation systems, photonic instruments, optics and optical assemblies, opto-mechanical components, temperature sensing products for wafer fabrication systems, and laser and LED measurement products, including laser power and energy meters, laser beam profilers, and optical and photonic subsystems. Its Equipment & Solutions segment provides laser-based systems for printed circuit board (PCB) manufacturing, including flexible interconnect PCB processing systems and high-density interconnect solutions for rigid PCB manufacturing and substrate processing, and multi-layer ceramic capacitor test systems. It serves semiconductor, industrial technologies, life and health sciences, research, and defense markets. It sells its products and services through its direct sales organization, independent distributors, and sales representatives, as well as through its websites and product catalogs. The company was incorporated in 1961 and is headquartered in Andover, Massachusetts.
The Gen Digital Inc. stock price gained 2.22% on the last trading day (Friday, 19th Jan 2024), rising from $22.97 to $23.48. During the last trading day the stock fluctuated 2.84% from a day low at $22.85 to a day high of $23.50. The price has risen in 8 of the last 10 days and is up by 5.15% 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, 962 thousand more shares were traded than the day before. In total, 3 million shares were bought and sold for approximately $78.57 million.
On Apr 11, 2024, it was reported that RBC Capital gave GEN a "Sector Perform" grade with a "hold" action.
Gen Digital 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.
The Intercontinental Hotels Group stock price gained 0.87% on the last trading day (Friday, 19th Jan 2024), rising from $94.66 to $95.48. 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 1.74% from a day low at $94.02 to a day high of $95.66. The price has risen in 6 of the last 10 days and is up by 4.41% over the past 2 weeks. Volume fell on the last day by -69 thousand shares and in total, 132 thousand shares were bought and sold for approximately $12.61 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.
On Apr 26, 2022, it was reported that Deutsche Bank gave IHG a "Buy" grade with a "hold" action.
Intercontinental Hotels 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 Intercontinental Hotels Group:
InterContinental Hotels Group PLC owns, manages, franchises, and leases hotels in the Americas, Europe, Asia, the Middle East, Africa, and Greater China. The company operates hotels under the Six Senses, Regent, InterContinental Hotels & Resorts, Vignette Collection, Kimpton Hotels & Restaurants, Hotel Indigo, EVEN Hotels, HUALUXE, Holiday Inn, Holiday Inn Express, Holiday Inn Club Vacations, avid, Staybridge Suites, Atwell Suites, Candlewood Suites, voco, and Crowne Plaza. It also provides IHG Rewards loyalty program. As of December 31, 2021, the company operated 5,991 hotels and 880,327 rooms in approximately 100 countries. InterContinental Hotels Group PLC was founded in 1777 and is headquartered in Denham, the United Kingdom.
The Abbott Laboratories stock price gained 0.588% on the last trading day (Friday, 19th Jan 2024), rising from $114.02 to $114.69. 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 1.23% from a day low at $113.46 to a day high of $114.86. The price has risen in 7 of the last 10 days and is up by 3.34% 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, 1 million more shares were traded than the day before. In total, 5 million shares were bought and sold for approximately $527.82 million.
On Apr 22, 2024, it was reported that Barclays gave ABT a "Overweight" grade with a "hold" action.
Abbott Laboratories 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 Abbott Laboratories:
Abbott Laboratories, together with its subsidiaries, discovers, develops, manufactures, and sells health care products worldwide. It operates in four segments: Established Pharmaceutical Products, Diagnostic Products, Nutritional Products, and Medical Devices. The Established Pharmaceutical Products segment provides generic pharmaceuticals for the treatment of pancreatic exocrine insufficiency, irritable bowel syndrome or biliary spasm, intrahepatic cholestasis or depressive symptoms, gynecological disorder, hormone replacement therapy, dyslipidemia, hypertension, hypothyroidism, Ménière's disease and vestibular vertigo, pain, fever, inflammation, and migraine, as well as provides anti-infective clarithromycin, influenza vaccine, and products to regulate physiological rhythm of the colon. The Diagnostic Products segment offers laboratory systems in the areas of immunoassay, clinical chemistry, hematology, and transfusion; molecular diagnostics systems that automate the extraction, purification, and preparation of DNA and RNA from patient samples, as well as detect and measure infectious agents; point of care systems; cartridges for testing blood; rapid diagnostics lateral flow testing products; molecular point-of-care testing for HIV, SARS-CoV-2, influenza A and B, RSV, and strep A; cardiometabolic test systems; drug and alcohol test, and remote patient monitoring and consumer self-test systems; and informatics and automation solutions for use in laboratories. The Nutritional Products segment provides pediatric and adult nutritional products. The Medical Devices segment offers rhythm management, electrophysiology, heart failure, vascular, and structural heart devices for the treatment of cardiovascular diseases; and diabetes care products, as well as neuromodulation devices for the management of chronic pain and movement disorders. Abbott Laboratories was founded in 1888 and is based in North Chicago, 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.
