Check Out These 4 Breakouts From Your Weekly Review
At least four highly rated stocks from Your Weekly Review staged fresh breakouts this week, as the market looks to build on recent success. Epam Systems (NYSE:EPAM) cleared a 70.59 buy point in healthy volume Thursday. The pattern has the look of a flat base, but a volatile session on May 7 stretched the depth of the pattern to 18%, deeper than a proper flat base. Shares finished in range, about 2% past the entry.
Macom Technology Solutions (NASDAQ:MTSI) also broke out Thursday from a cup-shaped pattern, but shares couldn’t hold above the 39.62 buy point.
Macom is the latest in a series of chip stocks to clear buy points. Breakouts by Skyworks Solutions (NASDAQ:SWKS), NXP Semiconductors (NASDAQ:NXPI) and Qorvo (NASDAQ:QRVO) are showing decent gains in the early going.
Generic and branded pharmaceuticals firm Mallinckrodt (NYSE:MNK) cleared a 130.35 cup-with-handle buy point in unimpressive fashion. Volume was light and shares closed a touch belo w the entry point. The stock’s short handle can only be seen on a daily chart.
Acadia Healthcare (NASDAQ:ACHC) broke out in heavy volume on Wednesday from a flat-base pattern with a 74.19 buy point. Shares have slipped below the entry, so look for the stock to recover in healthy trade for a chance to buy shares.
The Franklin, Tenn.-based firm is a leading operator of behavioral health care facilities and is growing rapidly through acquisitions.
Other watch-list names include stocks like CBRE Group (NYSE:CBG) and Mylan (NASDAQ:MYL) that are testing support near their 10-week lines. CBRE is a giant in the commercial real estate services and investment world. Shares are quietly testing support at the 10-week line amid a modest uptrend.
Mylan shares are bouncing off support at the 10-week line after advancing from a March breakout past 59.70. Volume on the rebound has been light so far.