Breakout Stocks of Week 19
NASDAQ was up last week (week 18) by 1.43% ending at 16,156.33 points after gaining 228.43 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 Constellation Energy Corporation NASDAQ:CEG. This stock has had a buy signal since Jan 30, 2024 when the price was $121.88 and is so far up 59.88% to $194.86. Some other companies are on our watchlist to, among these are Shockwave Medical Inc. NASDAQ:SWAV Bajaj Finserv Limited XBOM:BAJAJFINSV Cleanaway Waste Management Limited ASX:CWY and Pilgrim NASDAQ:PPC which all got a breakout pattern emerging.
| Date | Company | Price | Change |
|---|---|---|---|
| Constellation Energy Corporation | $194.86 | $200.56 ( 7th May 2024 ) | 2.93% |
| Shockwave Medical Inc. | $330.38 | $330.49 ( 7th May 2024 ) | 0.0333% |
| Bajaj Finserv Limited | ₹1,627.10 | ₹1,614.45 ( 7th May 2024 ) | -0.777% |
| Cleanaway Waste Management Limited | $2.70 | $2.73 ( 7th May 2024 ) | 1.11% |
| Pilgrim | $36.28 | $36.55 ( 7th May 2024 ) | 0.744% |
The Constellation Energy Corporation stock price gained 4.66% on the last trading day (Friday, 3rd May 2024), rising from $186.18 to $194.86. During the last trading day the stock fluctuated 4.93% from a day low at $188.00 to a day high of $197.27. The price has risen in 7 of the last 10 days and is up by 7.72% 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, 560 thousand more shares were traded than the day before. In total, 3 million shares were bought and sold for approximately $608.82 million.
On May 07, 2024, it was reported that RBC Capital gave CEG a "Sector Perform" grade with a "hold" action.
Constellation Energy 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.
About Constellation Energy Corporation:
Constellation Energy Corporation generates and sells electricity in the United States. The company operates through five segments: Mid-Atlantic, Midwest, New York, ERCOT, and Other Power Regions. It sells natural gas, renewable energy, and other energy-related products and services. The company has 32,400 megawatts of generating capacity consisting of nuclear, wind, solar, natural gas, and hydroelectric assets. It serves distribution utilities; municipalities; cooperatives; and commercial, industrial, governmental, and residential customers. The company was incorporated in 2021 and is headquartered in Baltimore, Maryland. Constellation Energy Corporation was formerly a subsidiary of Exelon Corporation.
The Shockwave Medical Inc. stock price gained 0.115% on the last trading day (Friday, 3rd May 2024), rising from $330.00 to $330.38. During the last trading day the stock fluctuated 0.303% from a day low at $330.00 to a day high of $331.00. The price has risen in 6 of the last 10 days and is up by 0.42% 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, 16 thousand more shares were traded than the day before. In total, 634 thousand shares were bought and sold for approximately $209.45 million.
On Apr 08, 2024, it was reported that Morgan Stanley gave SWAV a "Equal-Weight" grade with a "downgrade" 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 Shockwave Medical Inc. stock to perform well in the short-term.
About Shockwave Medical Inc.:
ShockWave Medical, Inc., a medical device company, engages in developing and commercializing intravascular lithotripsy technology for the treatment of calcified plaque in patients with peripheral vascular, coronary vascular, and heart valve diseases worldwide. The company offers M5 catheters for treating above-the-knee peripheral artery disease (PAD); C2 catheters for treating coronary artery disease; and S4 catheters for treating below-the-knee PAD. It serves interventional cardiologists, vascular surgeons, and interventional radiologists through sales representatives and sales managers, and distributors. The company was incorporated in 2009 and is headquartered in Santa Clara, California.
The Bajaj Finserv Limited stock price gained 0.687% on the last trading day (Friday, 3rd May 2024), rising from ₹1,616.00 to ₹1,627.10. 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 6.56% from a day low at ₹1,618.85 to a day high of ₹1,725.00. The price has risen in 7 of the last 10 days and is up by 2.06% 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, 228 thousand more shares were traded than the day before. In total, 281 thousand shares were bought and sold for approximately ₹457.05 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 Bajaj Finserv Limited stock to perform well in the short-term.
The Cleanaway Waste Management Limited stock price fell by -0.369% on the last day (Friday, 3rd May 2024) from $2.71 to $2.70. During the last trading day the stock fluctuated 2.26% from a day low at $2.66 to a day high of $2.72. The price has fallen in 6 of the last 10 days but is still up by 5.88% over the past 2 weeks. Volume has increased on the last day by 839 thousand shares but on falling prices. This may be an early warning and the risk will be increased slightly over the next couple of days. In total, 3 million shares were bought and sold for approximately $9.42 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 Cleanaway Waste Management Limited stock to perform well in the short-term.
About Cleanaway Waste Management Limited:
Cleanaway Waste Management Limited provides waste management, industrial, and environmental services in Australia. It operates through three segments: Solid Waste Services, Industrial & Waste Services, and Liquid Waste & Health Services. The company offers commercial and industrial, municipal, and residential collection services for various types of solid waste streams, including general waste, recyclables, construction, and demolition waste, as well as medical and washroom services. It is also involved in the ownership and management of waste transfer stations, resource recovery and recycling facilities, secure product destruction, quarantine treatment operations, and landfills; sale of recovered paper, cardboard, metals, and plastics; and collection, treatment, processing, and recycling of liquid and hazardous waste, including industrial waste, grease trap waste, oily waters, and used mineral and cooking oils in packaged and bulk forms. In addition, the company offers industrial solutions comprising industrial cleaning, vacuum tanker loading, site remediation, sludge management, parts washing, concrete remediation, CCTV, corrosion protection, and emergency response services. Further, it refines and recycles used mineral oils to produce fuel oils and base oils; generates and sells electricity produced utilizing landfill gas; and provides health and biohazardous waste, organic waste, e-waste recycling, industrial construction and cleaning, and equipment cleaning services, as well as spill kits. The company was formerly known as Transpacific Industries Group Ltd. and changed its name to Cleanaway Waste Management Limited in February 2016. Cleanaway Waste Management Limited was incorporated in 2002 and is headquartered in Melbourne, Australia.
The Pilgrim stock price gained 0.92% on the last trading day (Friday, 3rd May 2024), rising from $35.95 to $36.28. During the last trading day the stock fluctuated 2.20% from a day low at $35.97 to a day high of $36.76. The price has been going up and down for this period, and there has been a 1.43% gain for the last 2 weeks. Volume fell on the last day by -515 thousand shares and in total, 898 thousand shares were bought and sold for approximately $32.59 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 BMO Capital gave PPC a "Outperform" 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 Pilgrim stock to perform well in the short-term.
About Pilgrim:
Pilgrim's Pride Corporation engages in the production, processing, marketing and distribution of fresh, frozen and value-added chicken, and pork products to retailers, distributors, and foodservice operators in the United States, the United Kingdom, Mexico, the Middle East, Asia, Continental Europe, and internationally. The company offers fresh products, including pre-marinated or non-marinated chicken, frozen whole chickens, breast fillets, mini breast fillets and prepackaged case-ready chicken, primary pork cuts, and pork and pork ribs; prepared products, which include portion-controlled breast fillets, tenderloins and strips, delicatessen products, salads, formed nuggets and patties, and bone-in chicken parts; processed sausages, bacon, slow cooked, smoked meat, gammon joints, as well as variety of meat products, pre-packed meats, sandwich and deli counter meats, pulled pork balls, meatballs, and coated foods. In addition, its exported products include whole chickens and chicken parts sold either refrigerated for distributors in the U.S. or frozen for distribution to export markets and primary pork cuts, hog heads and trotters frozen for distribution to export markets. The company offers its products under the Pilgrim's, Just BARE, Gold'n Pump, Gold Kist, County Pride, Pierce Chicken, Pilgrim's Mexico, County Post, Savoro, To-Ricos, Del Dia, Moy Park, O'Kane, Richmond, Fridge Raiders, and Denny brands. Pilgrim's Pride Corporation sells its products to the foodservice market principally consists of chain restaurants, food processors, broad-line distributors, and other institutions; and retail market, which comprise primarily grocery store chains, wholesale clubs, and other retail distributors. The company was founded in 1946 and is headquartered in Greeley, Colorado. Pilgrim's Pride Corporation operates as a subsidiary of JBS S.A.
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.
