MarketSmith scan engine identified 4 exceptional stocks, among 8 others that are near a breakout zone. These stocks are from the software, insurance, and energy sectors. We’ll consider these exceptional stocks for break out trades over the next few days, while monitoring the current market.
Exceptional Stocks – Energy
Expro Group Holdings (XPRO) hails from the energy sector.
On Tuesday this exceptional stock caught an upgrade of its IBD SmartSelect Composite Rating from 92 to 94. Earnings are growing and volume is above average, with the latter indicating institutions are buying. We are looking for a breakout of this cup pattern over the next few days.
The upgrade means the stock is now outperforming 94% of all other stocks, with its exceptional performance metrics and technical strength. History shows the top market performers tend to have a 95 or higher score as they launch their major moves.
Expro Group Holdings is currently forming a cup without handle, with a 24.14 entry/buy point (+0.10 above the recent pivot high). Look for the stock to break out in heavy trade with Relative Volume for the day 2 or greater.
With the energy sector in play over the past few weeks, we are watching stocks from this group for potential day and swing trades. We’re also watching the sttocks in tthe list below the charts for follow through intto Thursday, Friday, and next week.
Exceptional Stocks – FInancials
Bread Financial (BFH) has been on our radar for a couple weeks, with members in the trading room discussing its potential.
The stock saw its IBD SmartSelect Composite Rating from 86 to 9o. Earnings are growing and volume is subsiding as it forms a flag. The cup and handle has a measured move of +/- 20 points, using the depth of the cup.
The stock has been in play over the past few weeks. Watching financial stocks for potential day and swing trades.
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