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Breakout Stocks of Week 25

NASDAQ was up last week (week 24) by 1.85% ending at 14 069.42 points after gaining 254.93 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 Innoviva, Inc NASDAQ:INVA. This stock has had a buy signal since June 11, 2021 when the price was $12.60 , but have so far fallen 0% to $12.60. Some other companies are on our watchlist to, among these are Arconic Inc NYSE:ARNC PPD, Inc. NASDAQ:PPD Ross Stores NASDAQ:ROST and CDW Corporation NASDAQ:CDW which all got a breakout pattern emerging.

Date Company Price Change
June 11, 2021 Innoviva, Inc $12.60 $12.60 ( 11th Jun 2021 ) 0%
June 11, 2021 Arconic Inc $38.00 $38.00 ( 11th Jun 2021 ) 0%
June 11, 2021 Ppd, Inc. $46.58 $46.58 ( 11th Jun 2021 ) 0%
June 11, 2021 Ross Stores $120.08 $120.08 ( 11th Jun 2021 ) 0%
June 11, 2021 Cdw Corporation $168.66 $168.66 ( 11th Jun 2021 ) 0%

Innoviva, Inc

NASDAQ:INVA Strong Buy Candidate Score: 5.51
Strong Buy Candidate Score: 5.51 June 11, 2021

The Innoviva, Inc stock price gained 1.45% on the last trading day (Friday, 11th Jun 2021), rising from $12.42 to $12.60. , and 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 day the stock fluctuated 2.22% from a day low at $12.40 to a day high of $12.68. The price has fallen in 7 of the last 10 days and is down by -7.22% for this period. Volume fell on the last day by -342 thousand shares and in total, 798 thousand shares were bought and sold for approximately $10.06 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.

The last rating was given by Morgan Stanley on November 11, 2020. The price target was changed from $8.00 to $10.00.

Innoviva, 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.

Arconic Inc

NYSE:ARNC Strong Buy Candidate Score: 5.15
Strong Buy Candidate Score: 5.15 June 11, 2021

Arconic IncThe Arconic Inc stock price gained 2.62% on the last trading day (Friday, 11th Jun 2021), rising from $37.03 to $38.00. During the day the stock fluctuated 3.86% from a day low at $37.06 to a day high of $38.49. The price has risen in 6 of the last 10 days and is up by 5.97% over the past 2 weeks. Volume fell on the last day by -251 thousand shares and in total, 572 thousand shares were bought and sold for approximately $21.75 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.

Deutsche Bank Aktiengesellschaft is very positive about ARNC and gave it a "Buy" rating on May 06, 2021. The price target was changed from $38.00 to $48.00.

Arconic 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.

PPD, Inc.

NASDAQ:PPD Buy Candidate Score: 4.31
Buy Candidate Score: 4.31 June 11, 2021

The PPD, Inc. stock price gained 0.13% on the last trading day (Friday, 11th Jun 2021), rising from $46.52 to $46.58. , and has now gained 4 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 day the stock fluctuated 0.22% from a day low at $46.50 to a day high of $46.60. The price has risen in 7 of the last 10 days and is up by 0.95% over the past 2 weeks. Volume fell on the last day by -470 thousand shares and in total, 945 thousand shares were bought and sold for approximately $44.00 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.

JPMorgan Chase & Co. does not see either upside or downside right now giving PPD "Overweight - Neutral" on their last update on May 04, 2021. The price target was set to $48.00.

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 PPD, Inc. stock to perform well in the short-term.

Ross Stores

NASDAQ:ROST Buy Candidate Score: 3.11
Buy Candidate Score: 3.11 June 11, 2021

Ross StoresThe Ross Stores stock price gained 1.79% on the last trading day (Friday, 11th Jun 2021), rising from $117.97 to $120.08. During the day the stock fluctuated 1.54% from a day low at $118.27 to a day high of $120.09. The price has fallen in 7 of the last 10 days and is down by -4.44% for this period. Volume fell on the last day by -1 million shares and in total, 3 million shares were bought and sold for approximately $415.00 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.

JPMorgan Chase & Co. is very positive about ROST and gave it a "Overweight" rating on May 27, 2021. The price target was changed from $127.00 to $132.00. Over the last 30 days, this security got 12 buy, 0 sell, and 2 hold ratings.

Several short-term signals are positive and we conclude that the current level may hold a buying opportunity, as there is a fair chance for Ross Stores stock to perform well in the short-term period.

About Ross Stores:
Ross Stores, Inc., together with its subsidiaries, operates off-price retail apparel and home fashion stores under the Ross Dress for Less and dd’s DISCOUNTS brand names in the United States. It primarily offers apparel, accessories, footwear, and home fashions. The company’s Ross Dress for Less stores sell its products at savings of 20% to 60% off department and specialty store regular prices primarily to middle income households; and dd’s DISCOUNTS stores sell its products at savings of 20% to 70% off moderate department and discount store regular prices to customers from households with moderate income. As of July 18, 2016, it operated 1,317 Ross Dress for Less stores in 34 states, the District of Columbia, and Guam; and 185dd's DISCOUNTS stores in 15 states. The company was founded in 1982 and is headquartered in Dublin, California.

CDW Corporation

NASDAQ:CDW Buy Candidate Score: 3.05
Buy Candidate Score: 3.05 June 11, 2021

CDW CorporationThe CDW Corporation stock price gained 0.75% on the last trading day (Friday, 11th Jun 2021), rising from $167.41 to $168.66. , and 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 day the stock fluctuated 1.07% from a day low at $166.98 to a day high of $168.76. The price has risen in 6 of the last 10 days and is up by 0.89% 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, 204 thousand more shares were traded than the day before. In total, 589 thousand shares were bought and sold for approximately $99.31 million.

Credit Suisse Group is very positive about CDW and gave it a "Outperform" rating on May 12, 2021. The price target was changed from $175.00 to $200.00.

Several short-term signals are positive and we conclude that the current level may hold a buying opportunity, as there is a fair chance for CDW Corporation stock to perform well in the short-term period.

About CDW Corporation:
CDW Corporation distributes information technology (IT) solutions in North America and the United Kingdom. It operates in two segments, Corporate and Public. The company offers discrete hardware and software products, as well as integrated IT solutions, including mobility, security, data center optimization, cloud computing, virtualization, and collaboration. Its hardware products comprise notebooks/mobile devices, network communications, enterprise and data storage, video monitors, printers, desktop computers, and servers; and software products include application suites, security, virtualization, operating systems, network management, and software as a service offerings. The company also provides a suite of value-added-services, such as basic installation, warranty, and repair services to custom configuration, data center, and network implementation services, as well as managed services that include infrastructure as a service offering. It serves government, education, and healthcare customers, as well as small, medium, and large businesses. The company was founded in 1984 and is based in Lincolnshire, Illinois.