Breakout Stocks of Week 5
NASDAQ was up last week (week 4) by 1.12% ending at 15,628.95 points after gaining 173.59 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 Integrated Electrical Services NASDAQ:IESC. This stock has had a buy signal since Dec 04, 2023 when the price was $72.15 and is so far up 19.25% to $86.04. Some other companies are on our watchlist to, among these are Elastic NV NYSE:ESTC Jfrog Ltd. NASDAQ:FROG Vestis Corporation NYSE:VSTS and BlueLinx Holdings Inc NYSE:BXC which all got a breakout pattern emerging.
| Date | Company | Price | Week 5 |
|---|---|---|---|
| Integrated Electrical Services | $86.04 | $91.59 | 6.45% |
| Elastic Nv | $124.60 | $130.39 | 4.65% |
| Jfrog Ltd. | $34.94 | $39.22 | 12.25% |
| Vestis Corporation | $22.21 | $18.98 | -14.54% |
| Bluelinx Holdings Inc | $117.35 | $120.84 | 2.97% |
The Integrated Electrical Services stock price gained 0.761% on the last trading day (Friday, 2nd Feb 2024), rising from $85.39 to $86.04. During the last trading day the stock fluctuated 11.18% from a day low at $82.75 to a day high of $92.00. The price has risen in 6 of the last 10 days and is up by 1.62% 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, 54 thousand more shares were traded than the day before. In total, 96 thousand shares were bought and sold for approximately $8.23 million.
Integrated Electrical Services 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 Integrated Electrical Services:
IES Holdings, Inc. designs and installs integrated electrical and technology systems, and provides infrastructure products and services in the United States. Its Commercial & Industrial segment offers electrical and mechanical design, construction, and maintenance services for office buildings, manufacturing facilities, data centers, chemical plants, refineries, wind farms, solar facilities, municipal infrastructures, and health care facilities. Its Communications segment designs, installs, and maintains network infrastructure within data centers for co-location and managed hosting customers; corporate, educational, financial, hospitality, and healthcare buildings; e-commerce distribution centers; and high-tech manufacturing facilities. This segment also provides design and installation services for audio/visual, telephone, fire, and wireless access and intrusion alarm systems; and engages in designing/building, servicing, and maintaining data network systems. Its Infrastructure Solutions segment maintains and repairs alternating and direct current electric motors and generators, and power generating and distribution equipment; manufactures custom-engineered metal enclosed bus duct solutions used in power distribution; manufactures custom commercial and industrial generator enclosures; manufactures, re-manufactures, and repairs industrial lifting magnets; and maintains and repairs railroad main and auxiliary generators, main alternators, and traction motors. Its Residential segment offers electrical installations to single-family housing and multi-family apartments; and cable television installations to residential and light commercial applications, as well as installs residential solar power for new construction and existing residences. The company was formerly known as Integrated Electrical Services, Inc. and changed its name to IES Holdings, Inc. in May 2016. The company was incorporated in 1997 and is headquartered in Houston, Texas.
The Elastic NV stock price gained 5.01% on the last trading day (Friday, 2nd Feb 2024), rising from $118.66 to $124.60. During the last trading day the stock fluctuated 4.14% from a day low at $120.25 to a day high of $125.23. The price has fallen in 6 of the last 10 days but is still up by 3.55% 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, 752 thousand more shares were traded than the day before. In total, 2 million shares were bought and sold for approximately $218.55 million.
On Mar 27, 2024, it was reported that Cowen & Co. gave ESTC a "Hold" grade with a "hold" action.
Elastic NV 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 Elastic NV:
Elastic N.V., a search company, delivers technology solutions designed to run in public or private clouds in multi-cloud environments. It primarily offers Elastic Stack, a set of software products that ingest and store data from various sources and formats, as well as perform search, analysis, and visualization. The company's Elastic Stack product portfolio comprises Elasticsearch, a distributed, real-time search and analytics engine, and data store for various types of data, including textual, numerical, geospatial, structured, and unstructured; Kibana, a user interface, management, and configuration interface for the Elastic Stack; Beats, a single-purpose data shippers for sending data from edge machines to Elasticsearch or Logstash; Elastic Agent that offers integrated host protection and central management services; and Logstash, a data processing pipeline for ingesting data into Elasticsearch or other storage systems. It also provides software solutions on the Elastic Stack that address cases, including app search, workplace search, logging, metrics, application performance management, and synthetic monitoring. The company's platform solutions provide new capabilities that helps users to combine the benefits of the Elastic Stack. The company was incorporated in 2012 and is headquartered in Mountain View, California.
The Jfrog Ltd. stock price gained 3.90% on the last trading day (Friday, 2nd Feb 2024), rising from $33.63 to $34.94. During the last trading day the stock fluctuated 5.07% from a day low at $33.33 to a day high of $35.02. The price has fallen in 6 of the last 10 days but is still up by 2.95% 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, 572 thousand more shares were traded than the day before. In total, 2 million shares were bought and sold for approximately $54.06 million.
On Nov 02, 2023, it was reported that Needham gave FROG a "Buy" grade with a "hold" action.
Jfrog Ltd. 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 Jfrog Ltd.:
JFrog Ltd. provides DevOps platform in the United States. The company's products include JFrog Artifactory, a package repository that allows teams and organizations to store, update, and manage their software packages at any scale; JFrog Pipelines, an integration/continuous delivery tool for automating and orchestrating the movement of software packages; JFrog Xray, which scan JFrog Artifactory; and JFrog Distribution that provides software package distribution with enterprise-grade performance. Its products include JFrog Artifactory Edge that utilizes and leverages metadata from JFrog Artifactory to facilitate the transfer of the incremental changes in software packages from their previous versions; JFrog Mission Control, a platform control panel that provides a view of moving pieces of an organization's software supply chain workflow; JFrog Insight, a DevOps intelligence tool; and JFrog Connect, a device management solution that allows companies to manage software updates and monitor performance across IoT device fleets from anywhere in the world. The company's products also comprise JFrog Pro, JFrog Pro Team, JFrog Pro X, JFrog Enterprise, JFrog Enterprise X, and JFrog Enterprise Plus products that offer ongoing updates, upgrades, and bug fixes, as well as cluster configuration, multi-site replication, and SLA support. It serves technology, financial services, retail, healthcare, and telecommunications organizations. JFrog Ltd. was incorporated in 2008 and is headquartered in Sunnyvale, California.
The Vestis Corporation stock price gained 1.65% on the last trading day (Friday, 2nd Feb 2024), rising from $21.85 to $22.21. During the last trading day the stock fluctuated 2.80% from a day low at $21.76 to a day high of $22.37. The price has risen in 7 of the last 10 days and is up by 7.14% over the past 2 weeks. Volume fell on the last day by -6 thousand shares and in total, 2 million shares were bought and sold for approximately $36.88 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.
Vestis 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.
The BlueLinx Holdings Inc stock price gained 0.540% on the last trading day (Friday, 2nd Feb 2024), rising from $116.72 to $117.35. It has now gained 5 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 3.67% from a day low at $113.32 to a day high of $117.48. The price has risen in 7 of the last 10 days and is up by 5.56% 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 thousand more shares were traded than the day before. In total, 62 thousand shares were bought and sold for approximately $7.23 million.
On Feb 24, 2022, it was reported that Benchmark gave BXC a "Buy" grade with a "hold" action.
BlueLinx 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 BlueLinx Holdings Inc:
BlueLinx Holdings Inc., together with its subsidiaries, distributes residential and commercial building products in the United States. The company distributes specialty products comprising engineered wood, industrial products, cedar, moulding, siding, metal, and insulation products; and structural products include lumber, plywood, oriented strand boards, rebars and remesh, spruce, and other wood products primarily that are used for structural support in construction projects. It also provides various value-added services and solutions to customers and suppliers. The company serves dealers, specialty distributors, national home centers, and manufactured housing customers through a network of distribution centers. BlueLinx Holdings Inc. was incorporated in 2004 and is headquartered in Marietta, Georgia.
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.
