Breakout Stocks of Week 18
NASDAQ was up last week (week 17) by 4.23% ending at 15,927.90 points after gaining 645.89 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 Taseko Mines Limited NYSE:TGB. This stock has had a buy signal since Feb 14, 2024 when the price was $1.49 and is so far up 74.50% to $2.60. Some other companies are on our watchlist to, among these are Wingstop Inc. NASDAQ:WING Northern Oil and Gas, Inc NYSE:NOG Berry Petroleum Corporation NASDAQ:BRY and Innospec Inc. NASDAQ:IOSP which all got a breakout pattern emerging.
| Date | Company | Price | Change |
|---|---|---|---|
| Taseko Mines Limited | $2.60 | $2.66 ( 29th Apr 2024 ) | 2.31% |
| Wingstop Inc. | $382.56 | $384.82 ( 29th Apr 2024 ) | 0.591% |
| Northern Oil And Gas, Inc | $43.27 | $43.54 ( 29th Apr 2024 ) | 0.624% |
| Berry Petroleum Corporation | $8.74 | $8.79 ( 29th Apr 2024 ) | 0.572% |
| Innospec Inc. | $121.12 | $121.19 ( 29th Apr 2024 ) | 0.0578% |
The Taseko Mines Limited stock price gained 5.26% on the last trading day (Friday, 26th Apr 2024), rising from $2.47 to $2.60. During the last trading day the stock fluctuated 5.69% from a day low at $2.46 to a day high of $2.60. The price has fallen in 5 of the last 10 days but is still up by 4.84% over the past 2 weeks. Volume fell on the last day by -705 thousand shares and in total, 3 million shares were bought and sold for approximately $7.62 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 09, 2024, it was reported that BMO Capital gave TGB a "Outperform" grade with a "hold" action.
Taseko Mines Limited 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 Taseko Mines Limited:
Taseko Mines Limited, a mining company, acquires, develops, and operates mineral properties. The company explores for copper, molybdenum, gold, niobium, and silver deposits. It holds 75% interest in the Gibraltar mine located in British Columbia. It also holds 100% interest in Yellowhead copper project, the Aley niobium project, and the New Prosperity gold and copper project located in British Columbia; and the Florence copper project located in Arizona. The company was incorporated in 1966 and is headquartered in Vancouver, Canada.
The Wingstop Inc. stock price gained 3.42% on the last trading day (Friday, 26th Apr 2024), rising from $369.90 to $382.56. During the last trading day the stock fluctuated 4.02% from a day low at $369.00 to a day high of $383.82. The price has been going up and down for this period, and there has been a 4.77% gain for the last 2 weeks. Volume fell on the last day by -132 thousand shares and in total, 483 thousand shares were bought and sold for approximately $184.71 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 Citigroup gave WING a "Neutral" grade with a "hold" action.
Wingstop 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 Wingstop Inc.:
Wingstop Inc., together with its subsidiaries, franchises and operates restaurants under the Wingstop brand name. Its restaurants offer classic wings, boneless wings, and tenders that are cooked-to-order, and hand-sauced-and-tossed in various flavors. As of December 25, 2021, the company had 1,695 franchised restaurants and 36 company-owned restaurants in 44 states and 7 countries worldwide. Wingstop Inc. was founded in 1994 and is headquartered in Addison, Texas.
The Northern Oil and Gas stock price gained 0.488% on the last trading day (Friday, 26th Apr 2024), rising from $43.06 to $43.27. During the last trading day the stock fluctuated 1.41% from a day low at $42.70 to a day high of $43.30. The price has risen in 6 of the last 10 days and is up by 1.48% over the past 2 weeks. Volume fell on the last day by -7 thousand shares and in total, 916 thousand shares were bought and sold for approximately $39.65 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 Apr 19, 2024, it was reported that Piper Sandler gave NOG a "Neutral" grade with a "hold" action.
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 Northern Oil and Gas stock to perform well in the short-term.
About Northern Oil and Gas, Inc:
Northern Oil and Gas, Inc., an independent energy company, engages in the acquisition, exploration, exploitation, development, and production of crude oil and natural gas properties in the United States. The company primarily holds interests in the Williston Basin, the Appalachian Basin, and the Permian Basin in the United States. As of December 31, 2021, it owned working interests in 7,436 gross producing wells; and had proved reserves of 287,682 million barrels of oil equivalent. The company is based in Minnetonka, Minnesota.
The Berry Petroleum Corporation stock price gained 0.81% on the last trading day (Friday, 26th Apr 2024), rising from $8.67 to $8.74. During the last trading day the stock fluctuated 1.98% from a day low at $8.59 to a day high of $8.76. The price has risen in 6 of the last 10 days and is 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, 74 thousand more shares were traded than the day before. In total, 623 thousand shares were bought and sold for approximately $5.45 million.
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 Berry Petroleum Corporation stock to perform well in the short-term.
About Berry Petroleum Corporation:
Berry Corporation, an independent upstream energy company, engages in the development and production of conventional oil reserves located in the western United States. It operates in two segments, Development and Production, and Well Servicing and Abandonment. The company's properties are located in the San Joaquin and Ventura basins, California; and Uinta basin, Utah. As of December 31, 2021, it had a total of 3,417 net productive wells. The company was formerly known as Berry Petroleum Corporation and changed its name to Berry Corporation in February 2020. Berry Corporation was founded in 1909 and is headquartered in Dallas, Texas.
The Innospec Inc. stock price gained 0.85% on the last trading day (Friday, 26th Apr 2024), rising from $120.10 to $121.12. During the last trading day the stock fluctuated 1.51% from a day low at $120.29 to a day high of $122.11. The price has fallen in 6 of the last 10 days and is down by -1.26% for this period. Volume fell on the last day by -26 thousand shares and in total, 63 thousand shares were bought and sold for approximately $7.60 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 Seaport Global gave IOSP a "Neutral" grade with a "hold" action.
Several of the signals/indicators are negative, and we believe that this will affect on the development for the next days and maybe possible weeks. However, over time, we think that today's level holds a possible buying opportunity and that the price will be higher during or at the end of this 3-month period.
About Innospec Inc.:
Innospec Inc. develops, manufactures, blends, markets, and supplies specialty chemicals in the United States, rest of North America, the United Kingdom, rest of Europe, and internationally. The company's Fuel Specialties segment offers a range of specialty chemical products that are used as additives in various fuels. This segment's products are used in the operation of automotive, marine, and aviation engines; power station generators; and heating oil. Its Performance Chemicals segment provides technology-based solutions for its customers' processes or products that focuses on the personal care, home care, agrochemical, and metal extraction markets. The company's Oilfield Services segment develops and markets chemical solutions for fracturing, stimulation, and completion operations; and products for oil and gas production, as well as products to prevent loss of mud in drilling operations. It sells its products primarily to oil and gas exploration and production companies, oil refineries, fuel manufacturers and users, personal care and home care companies, formulators of agrochemical and metal extraction formulations, and other chemical and industrial companies. The company was formerly known as Octel Corp. and changed its name to Innospec Inc. in January 2006. Innospec Inc. was founded in 1938 and is headquartered in Englewood, Colorado.
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.
