Overview
On February 16, 2026, WaveRider detected 258 total 20-week breakout signals, with a notable bearish tilt: 137 bearish signals versus 121 bullish. This 53% bearish ratio suggests underlying market caution, though the magnitude remains modest enough to allow selective opportunities. The quality of bullish signals shows significant variation—several names exhibit extreme volatility (ADR% above 15%) and poor relative volume, suggesting momentum driven more by technical squeezes than institutional conviction. ETFs dominate both sides of the breakout ledger, reflecting rotational positioning rather than pure conviction in single-name equities.
The top bullish movers include healthcare biotechnology, alternative energy, and furniture retail—a diverse cross-section indicating no unified sector leadership. Institutional data remains largely absent for most breakout names, a cautionary signal for swing traders seeking confirmation from smart money.
Top 5 Bullish Picks
EVMN ($31.57) — Medical Biomed/Biotech
Evommune breaks above its 20-week consolidation with compelling characteristics: a 5.83 ATR multiple breakout, 2.7x relative volume (1.36M shares), and positioning just 4.9% below its 52-week high. The stock has surged 127.4% from its annual low, demonstrating powerful trend recovery. As a young IPO (less than 5 years), EVMN trades with elevated volatility (14.9% ADR), but the breakout occurs on authentic volume expansion—a critical validation signal.
The 71.9% LOD risk (distance from intraday low to ATR stop) suggests aggressive entry timing, but the bucket classification as a youth IPO aligns with high-beta momentum strategies. With no institutional data available, traders should treat this as a pure technical play requiring tight risk management.
| Level | Price | Rationale |
|---|---|---|
| Entry | $31.57 | 20-week breakout confirmation |
| Stop Loss | $28.13 | 1 ATR below entry ($3.44) |
| Target 1 | $35.01 | 1 ATR extension |
| Target 2 | $38.45 | 2 ATR extension / 52W high test |
SOLS ($78.22) — Diversified Operations
Solaris Oilfield Infrastructure delivers the strongest technical breakout in the dataset with an 8.45 ATR multiple—an explosive move suggesting potential news catalysts or sector rotation into energy services. Trading 1.4x normal volume (4.6M shares) with relatively controlled volatility (4.9% ADR), SOLS demonstrates institutional-grade momentum. The stock sits just 7.4% from 52-week highs and has rallied 93.5% from annual lows.
The funds_500 bucket classification indicates meaningful institutional presence, though specific fund counts remain unavailable. This diversified operations classification often masks energy infrastructure exposure, positioning SOLS as a leveraged play on crude oil activity or midstream infrastructure demand.
| Level | Price | Rationale |
|---|---|---|
| Entry | $78.22 | 8.45 ATR breakout |
| Stop Loss | $74.61 | 1 ATR below entry ($3.61) |
| Target 1 | $81.83 | 1 ATR extension |
| Target 2 | $85.44 | 52W high retest ($84.46) |
BOBS ($20.08) — Consumer Cyclical Furnishings
Bob’s Discount Furniture breaks out to within 1.6% of 52-week highs, an elite technical position suggesting potential all-time high attempts. The stock has climbed 21.9% from annual lows with controlled 8.1% ADR, indicating steady accumulation rather than speculative frenzy. However, relative volume disappoints at just 0.2x normal (998K vs. 4.1M average), raising questions about breakout sustainability.
Classified in the all_unique_bucket_2_stocks category, BOBS represents a contrarian consumer cyclical play as housing-related sectors face macro headwinds. The furniture industry typically lags housing starts by 6-12 months, suggesting either early positioning for recovery or company-specific improvements.
| Level | Price | Rationale |
|---|---|---|
| Entry | $20.08 | 52W high proximity breakout |
| Stop Loss | $18.55 | 1 ATR below entry ($1.53) |
| Target 1 | $21.61 | 1 ATR extension |
| Target 2 | $23.14 | 52W high breakout + extension |
FRMI ($10.29) — Energy Alternative/Other
Fidelity Real Estate Income ETF—wait, FRMI is actually classified as Energy-Alternative/Other despite the confusion. Trading on 1.6x relative volume (11.4M shares), FRMI shows authentic participation despite extreme distance from 52-week highs (down 72.2%). The 43.3% recovery from annual lows suggests early-stage trend reversal in alternative energy infrastructure.
The concerning 116.8% LOD risk percentage indicates entry occurred far above intraday lows—a dangerous chase setup. With 10.3% ADR and $0.99 ATR, position sizing must compensate for extended entry timing. Zero institutional data limits conviction for position trades.
| Level | Price | Rationale |
|---|---|---|
| Entry | $10.29 | 20-week breakout |
| Stop Loss | $9.30 | 1 ATR below entry ($0.99) |
| Target 1 | $11.28 | 1 ATR extension |
| Target 2 | $12.27 | 2 ATR extension |
GDXU ($347.25) — Finance ETF/ETN
MicroSectors Gold Miners 3X Leveraged ETN explodes 855.4% from 52-week lows, capturing the massive gold miner rally with triple leverage. The $54.50 ATR reflects extreme volatility (15.9% ADR), while 1.0x relative volume (756K shares) confirms typical participation levels for this specialized instrument. Trading 35.8% below annual highs suggests room for further upside if gold prices cooperate.
As a leveraged ETN, GDXU carries daily reset risk and decay characteristics unsuitable for buy-and-hold approaches. The 0.83 ATR multiple breakout seems modest relative to the product’s leverage, suggesting consolidation-breakout rather than panic buying.
| Level | Price | Rationale |
|---|---|---|
| Entry | $347.25 | 20-week consolidation break |
| Stop Loss | $292.75 | 1 ATR below entry ($54.50) |
| Target 1 | $401.75 | 1 ATR extension |
| Target 2 | $456.25 | 2 ATR / 52W high approach |
Bearish Alerts
The bearish breakdown list shows concentrated weakness in software and leveraged ETFs. HTFL ($20.66) leads with 148 institutional holders yet breaks down 2.65 ATR multiples, suggesting fund distribution despite previous accumulation. Trading 50% below 52-week highs, the medical software provider faces sector-specific headwinds.
NP ($18.89) in insurance brokerage breaks down 2.99 ATR multiples on 2.0x volume, indicating aggressive exit behavior. Multiple leveraged ETFs (SMU, LABX, UPSX) show 85-96% declines from peaks—hallmarks of volatility compression or underlying sector collapses requiring extreme caution.
Sector Theme
No dominant sector leadership emerges from this breakout scan. Healthcare biotech, energy alternatives, consumer cyclicals, and precious metals ETFs scatter across unrelated macro themes. This dispersion typically characterizes late-cycle or transitional markets where correlation breaks down and stock-picking supersedes beta capture. The ETF dominance (6 of top 10 names) reinforces rotational positioning over conviction-driven accumulation.
Institutional Summary
Institutional data remains largely absent across top bullish breakouts—a significant limitation. SOLS (funds_500 bucket) and BOBS (all_unique_bucket_2) show classification but lack specific fund counts. Only bearish breakdown HTFL reports concrete institutional data (148 funds), suggesting distribution rather than accumulation. Traders should interpret this institutional void as requiring tighter stops and shorter holding periods, treating these as technical momentum plays rather than fundamental accumulation opportunities.