Banking

What’s In Your Basket Of Potential Breakout Growth Stocks?

Wall Street wisely says you shouldn’t put all your eggs in one basket. But how big is your basket — and what’s in it? With the IBD Breakout Opportunities ETF (BOUT), you instantly get a piece of a wide range of growth stocks with just one ETF.




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Updated weekly, the BOUT ETF features stocks that are set to or already have launched new breakouts. Names currently on the breakout index range from IBD Long-Term Leaders like Veeva Systems (VEEV) and MSCI (MSCI) to well-known companies like Lululemon Athletica (LULU), Twitter (TWTR) and Advanced Micro Devices (AMD).

The BOUT ETF also includes several new IPOs, such as fabrics and sewing leader Joann (JOAN). Started in 1943, Joann has 855 stores across 49 states. The Ohio-based company launched a new IPO in March after being taken private back in 2011.

The index also features industry leaders and growth stocks from a range of sectors. In the semiconductor sector, MaxLinear (MXL) and Monolithic Power Systems (MPWR) join AMD stock.

D.R. Horton (DHI) and Green Brick Partners (GRBK) hail from the building sector. Floor & Decor (FND) and car dealer Sonic Automotive (SAH) join LULU stock in the retail sector.


See All The Stocks On The IBD Breakout Stocks Index


Growth Stocks Set To Hatch New Breakouts

Financial sector leader MSCI stock has already bankrolled a strong breakout to a new all-time high. And LULU stock is now extended, while VEEV stock is testing the upper end of its buy zone.

Other leading growth stocks on the Breakout Stocks Index are setting up potential buy points.

Twitter stock briefly cleared a 72.17 buy point in a cup with handle last month. The social media stock has stayed above its 10-week moving average as it tries retake that entry.

Since forming its IPO base in March and April, Joann has stitched together a nice run. Although based on comparisons to prior quarters that showed a loss, Joann has delivered four straight stanzas of triple-digit EPS gains. Sales growth has slowed from 21% to 15% in its latest report on June 3. Joan is looking to sew up a new breakout from a 17.60 entry.

Specialty chemicals manufacturer Olin (OLN) is also looking to conjure up a new move. Olin spiked 428% off its lows last August before pulling back in early June of this year. The stock is testing support at its 10-week line as it builds a cup-shape base showing a 51.14 buy point.

Green Brick Partners and transportation stock Saia (SAIA) are also building new chart patterns.

Several other names in the BOUT ETF basket of growth stocks are setting up potential buying opportunities, including AbbVie (ABBV), Alcoa (AA) and Rent-A-Center (RCII).

IBD Breakout Opportunities ETF

The IBD Breakout Opportunities ETF from Innovator Capital Management tracks the IBD Breakout Stocks Index. As with other index ETFs, this fund allows you to essentially invest in the entire index in addition to or rather than buying the individual stocks. Learn more here about the ETF and Innovator funds.

Follow Matthew Galgani on Twitter at @IBD_MGalgani.

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