Breakout Stocks of Week 8
NASDAQ was up last week (week 7) by 1.40% ending at 15,996.82 points after gaining 221.17 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 PGT NASDAQ:PGTI. This stock has had a buy signal since Oct 25, 2023 when the price was $29.96 and is so far up 39.49% to $41.79. Some other companies are on our watchlist to, among these are PIMCO Strategic Income Fund Inc NYSE:RCS Freshpet NASDAQ:FRPT Tarsus Pharmaceuticals, Inc. NASDAQ:TARS and Acuity Brands Inc NYSE:AYI which all got a breakout pattern emerging.
| Date | Company | Price | Week 8 |
|---|---|---|---|
| Pgt | $41.79 | $41.78 | -0.0239% |
| Pimco Strategic Income Fund Inc | $6.30 | $6.08 | -3.49% |
| Freshpet | $92.01 | $110.80 | 20.42% |
| Tarsus Pharmaceuticals, Inc. | $31.70 | $36.95 | 16.56% |
| Acuity Brands Inc | $244.80 | $251.61 | 2.78% |
The PGT stock price gained 0.553% on the last trading day (Friday, 23rd Feb 2024), rising from $41.56 to $41.79. During the last trading day the stock fluctuated 0.0957% from a day low at $41.79 to a day high of $41.83. The price has risen in 6 of the last 10 days and is up by 1.11% 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, 3 million more shares were traded than the day before. In total, 4 million shares were bought and sold for approximately $156.87 million.
PGT 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 PGT:
PGT Innovations, Inc., together with its subsidiaries manufactures and supplies impact-resistant aluminum frame windows and doors in the United States and internationally. The company provides heavy-duty aluminum or vinyl frames with laminated glass to provide protection from hurricane-force winds and wind-borne debris; and non-impact resistant vinyl windows with insulating glass and multi-chambered frames for various climate zones. It also offers customizable non-impact-resistant aluminum frame windows and doors; and non-glass vertical and horizontal sliding panels for porch enclosures, including vinyl-glazed aluminum-framed products used for enclosing screened-in porches that provide protection from inclement weather. In addition, the company provides premium aluminum impact-resistant products; aluminum impact-resistant windows and doors; vinyl energy-efficient impact-resistant windows; and commercial storefront window system and entry doors. Further, it provides impact and non-impact sliding glass and terrace doors; fixed picture, single hung, and horizontal rolling windows; aluminum thermally broken doors and windows; fixed and operating windows; sliding, folding, and hinged doors; and moving glass walls and windows. The company offers its products under the PGT, CGI, WinDoor, Western Window Systems, NewSouth, Eco Window Systems, and Anlin brands. It serves window distributors, building supply distributors, window replacement dealers, and enclosure contractors. The company was formerly known as PGT, Inc. and changed its name to PGT Innovations, Inc. in December 2016. PGT Innovations, Inc. was founded in 1980 and is headquartered in North Venice, Florida.
The PIMCO Strategic Income Fund Inc stock price gained 2.27% on the last trading day (Friday, 23rd Feb 2024), rising from $6.16 to $6.30. During the last trading day the stock fluctuated 2.44% from a day low at $6.16 to a day high of $6.31. The price has risen in 6 of the last 10 days and is up by 1.61% 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, 215 thousand more shares were traded than the day before. In total, 395 thousand shares were bought and sold for approximately $2.49 million.
PIMCO Strategic Income Fund Inc holds several positive signals and is within a weak 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 PIMCO Strategic Income Fund Inc:
PIMCO Strategic Global Government Fund, Inc. is a closed-ended fixed income mutual fund launched and managed by Allianz Global Investors Fund Management LLC. The fund is co-managed by Pacific Investment Management Company LLC. It invests in fixed income markets across the globe. The fund primarily invests in government securities, including bonds issued or guaranteed by the United States or foreign governments, by their agencies, authorities or instrumentalities, or by supranational entities. It employs fundamental analysis with a focus on top down stock picking approach to create its portfolio. PIMCO Strategic Global Government Fund, Inc. was formed on February 24, 1994 and is domiciled in the United States.
The Freshpet stock price gained 1.90% on the last trading day (Friday, 23rd Feb 2024), rising from $90.29 to $92.01. During the last trading day the stock fluctuated 3.14% from a day low at $90.29 to a day high of $93.13. The price has risen in 6 of the last 10 days and is up by 5.02% 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, 774 thousand more shares were traded than the day before. In total, 1 million shares were bought and sold for approximately $114.46 million.
On Apr 01, 2024, it was reported that Jefferies gave FRPT a "Hold" grade with a "hold" action.
Freshpet 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 Freshpet:
Freshpet, Inc. manufactures and markets natural fresh meals and treats for dogs and cats in the United States, Canada, and Europe. The company sells its products under the Freshpet brand; and Dognation and Dog Joy labels through various classes of retail, including grocery, mass, club, pet specialty, and natural, as well as online. Freshpet, Inc. was incorporated in 2004 and is headquartered in Secaucus, New Jersey.
The Tarsus Pharmaceuticals, Inc. stock price gained 0.507% on the last trading day (Friday, 23rd Feb 2024), rising from $31.54 to $31.70. During the last trading day the stock fluctuated 4.77% from a day low at $31.05 to a day high of $32.53. The price has fallen in 6 of the last 10 days but is still up by 1.64% 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, 15 thousand more shares were traded than the day before. In total, 624 thousand shares were bought and sold for approximately $19.77 million.
On Feb 28, 2024, it was reported that Oppenheimer gave TARS a "Outperform" grade with a "hold" action.
Tarsus Pharmaceuticals, 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 Tarsus Pharmaceuticals, Inc.:
Tarsus Pharmaceuticals, Inc., a clinical-stage biopharmaceutical company, focuses on the development and commercialization of novel therapeutic candidates for ophthalmic conditions. Its lead product candidate is TP-03, a novel therapeutic that is in Phase III for the treatment of blepharitis caused by the infestation of Demodex mites, as well as to treat meibomian gland disease. The company is also developing TP-04 for the treatment of rosacea; and TP-05 for Lyme prophylaxis and community malaria reduction. In addition, the company develops lotilaner to address diseases across therapeutic categories in human medicine, including eye care, dermatology, and other diseases. Tarsus Pharmaceuticals, Inc. was incorporated in 2016 and is headquartered in Irvine, California.
The Acuity Brands Inc stock price gained 1.02% on the last trading day (Friday, 23rd Feb 2024), rising from $242.32 to $244.80. During the last trading day the stock fluctuated 0.86% from a day low at $242.76 to a day high of $244.85. The price has fallen in 6 of the last 10 days but is still up by 1.25% over the past 2 weeks. Volume fell on the last day by -20 thousand shares and in total, 65 thousand shares were bought and sold for approximately $15.86 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 03, 2024, it was reported that Cowen & Co. gave AYI a "Buy" grade with a "hold" action.
Acuity Brands 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 Acuity Brands Inc:
Acuity Brands, Inc. provides lighting and building management solutions in North America and internationally. The company operates through two segments, Acuity Brands Lighting and Lighting Controls (ABL); and the Intelligent Spaces Group (ISG). The ABL segment provides commercial, architectural, and specialty lighting solutions, as well as lighting controls and components for various indoor and outdoor applications under the Lithonia Lighting, Holophane, Peerless, Gotham, Mark Architectural Lighting, Winona Lighting, Juno, Indy, Aculux, Healthcare Lighting, Hydrel, American Electric Lighting, Sunoptics, eldoLED, nLight, Sensor Switch, IOTA, A-Light, Cyclone, Eureka, Lumniaire LED, Luminis, Dark to Light, and RELOC Wiring Solutions brands. This segment serves electrical distributors, retail home improvement centers, electric utilities, national accounts, digital retailers, lighting showrooms, and energy service companies. The ISG segment offers building management systems and location-aware applications under the Distech Controls, Atrius, and Rockpile Ventures brands. This segment serves system integrators, as well as retail stores, airports, and enterprise campuses. Acuity Brands, Inc. was incorporated in 2001 and is headquartered in Atlanta, 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.
