Breakout Stocks of Week 7
NASDAQ was up last week (week 6) by 2.31% ending at 15,990.66 points after gaining 361.71 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 Technogym S.p.A. MIL:TGYM. This stock has had a buy signal since Nov 29, 2023 when the price was 7.97€ and is so far up 17.94% to 9.40€. Some other companies are on our watchlist to, among these are SPDR S&P Pharmaceuticals ETF NYSEARCA:XPH Nuvalent, Inc. NASDAQ:NUVL Ardelyx NASDAQ:ARDX and GENERAL MOTORS CORP 7.50% SR. NOTES 7/1/2044 NYSE:GMS which all got a breakout pattern emerging.
| Date | Company | Price | Week 7 |
|---|---|---|---|
| Technogym S.p.a. | 9.40€ | 9.46€ | 0.638% |
| Spdr S&p Pharmaceuticals Etf | $43.83 | $45.15 | 3.01% |
| Nuvalent, Inc. | $82.45 | $86.21 | 4.56% |
| Ardelyx | $9.74 | $9.04 | -7.19% |
| General Motors Corp 7.50% Sr. Notes 7/1/2044 | $87.90 | $88.44 | 0.614% |
The Technogym S.p.A. stock price gained 1.40% on the last trading day (Friday, 9th Feb 2024), rising from 9.27€ to 9.40€. During the last trading day the stock fluctuated 1.73% from a day low at 9.24€ to a day high of 9.40€. The price has been going up and down for this period, and there has been a 3.52% gain 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, 75 thousand more shares were traded than the day before. In total, 309 thousand shares were bought and sold for approximately 2.90€ million.
Technogym S.p.A. 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 Technogym S.p.A.:
Technogym S.p.A., a wellness company, designs, manufactures, and sells fitness equipment worldwide. The company offers a range of wellness, physical exercise, and rehabilitation solutions. Its products include treadmills, exercise bikes, elliptical cross trainers, rowers, stair climbers, upper body trainers, selectorized equipment, plate loaded equipment, multigyms and cable stations, benches and racks, free weights, functional training equipment, and stretching equipment; and exercise tools, such as exercise mat, floor mat, set loop band resistance, elastic bands, power band resistance, jump rope, foam roller, wellness ball, balance pad, balance dome, slam ball, and medicine ball, as well as personal line products. The company markets its products to fitness and wellness clubs; hospitality and residential; health, corporate, and performance; and home and consumer segments through field and inside sales, retail, and wholesale channels. Technogym S.p.A. was founded in 1983 and is headquartered in Cesena, Italy.
The SPDR S&P Pharmaceuticals ETF price gained 1.15% on the last trading day (Friday, 9th Feb 2024), rising from $43.33 to $43.83. During the last trading day the ETF fluctuated 1.27% from a day low at $43.36 to a day high of $43.91. The price has risen in 6 of the last 10 days and is up by 3.62% 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, 49 thousand more shares were traded than the day before. In total, 60 thousand shares were bought and sold for approximately $2.64 million.
SPDR S&P Pharmaceuticals 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 Nuvalent, Inc. stock price gained 2.32% on the last trading day (Friday, 9th Feb 2024), rising from $80.58 to $82.45. During the last trading day the stock fluctuated 3.59% from a day low at $80.96 to a day high of $83.87. The price has risen in 6 of the last 10 days and is up by 8.06% over the past 2 weeks. Volume fell on the last day by -297 thousand shares and in total, 419 thousand shares were bought and sold for approximately $34.53 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 17, 2024, it was reported that Jefferies gave NUVL a "Buy" grade with a "initialise" action.
Nuvalent, 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 Ardelyx stock price gained 5.07% on the last trading day (Friday, 9th Feb 2024), rising from $9.27 to $9.74. During the last trading day the stock fluctuated 5.35% from a day low at $9.35 to a day high of $9.85. The price has risen in 6 of the last 10 days and is up by 7.51% over the past 2 weeks. Volume fell on the last day by -136 thousand shares and in total, 6 million shares were bought and sold for approximately $58.74 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 Cowen & Co. gave ARDX a "Buy" grade with a "hold" action.
Ardelyx 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 Ardelyx:
Ardelyx, Inc., a biopharmaceutical company, discovers, develops, and commercializes medicines to treat gastrointestinal and cardiorenal therapeutic areas in the United States and internationally. The company's lead product candidate is tenapanor, which has completed Phase III clinical trial for the treatment of patients with irritable bowel syndrome with constipation, as well as in Phase III clinical trial to control serum phosphorus in adult patients with chronic kidney disease (CKD)on dialysis, or hyperphosphatemia. It is also developing RDX013, a potassium secretagogue, for the treatment of elevated serum potassium, or hyperkalemia, a problem among certain patients with kidney and/or heart disease; and RDX020, an early-stage program in metabolic acidosis, a serious electrolyte disorder in patients with CKD. The company has agreements with Kyowa Kirin in Japan, Fosun Pharmaceutical Industrial Development Co. Ltd. in China, and Knight Therapeutics, Inc. in Canada for the development and commercialization of tenapanor in their respective territories. The company was formerly known as Nteryx, Inc. and changed its name to Ardelyx, Inc. in June 2008. Ardelyx, Inc. was incorporated in 2007 and is headquartered in Waltham, Massachusetts.
The GENERAL MOTORS CORP 7.50% SR. NOTES stock price gained 0.664% on the last trading day (Friday, 9th Feb 2024), rising from $87.32 to $87.90. 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 1.54% from a day low at $87.02 to a day high of $88.36. The price has risen in 7 of the last 10 days and is up by 6.33% over the past 2 weeks. Volume fell on the last day by -114 thousand shares and in total, 292 thousand shares were bought and sold for approximately $25.65 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 Mar 04, 2024, it was reported that Cantor Fitzgerald gave GMS a "Overweight" grade with a "hold" action.
GENERAL MOTORS CORP 7.50% SR. NOTES 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 GENERAL MOTORS CORP 7.50% SR. NOTES 7/1/2044:
GMS Inc. distributes wallboard, ceilings, steel framing and complementary construction products in the United States and Canada. The company offers ceilings products, including suspended mineral fibers, soft fibers, and metal ceiling systems primarily used in offices, hotels, hospitals, retail facilities, schools, and various other commercial and institutional buildings. It also provides steel framing products, such as steel tracks, studs, and various other steel products used to frame the interior walls of a commercial or institutional building; and insulation, lumber and other wood products, ready-mix joint compound, and various other interior construction products, as well as ancillary products comprising tools, fasteners, and safety products. In addition, the company distributes acoustical ceilings, steel framing, insulation, and related building products, as well as commercial and residential building materials. It serves professional contractors and homebuilders. As of April 30, 2022, the company operated 300 branches across 44 states and the District of Columbia, as well as 6 provinces in Canada. It also operates a network of approximately 300 distribution centers. GMS Inc. was founded in 1971 and is headquartered in Tucker, 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.
