Overview
The 20-Week Breakout scan generated 163 total signals on 2026-09-14, split between 45 bullish (dollar_20_wk + pct_20_wk) and 118 bearish (dollar_d20_wk + pct_d20_wk) moves. That places the bullish/bearish ratio at roughly 27.6% bullish / 72.4% bearish, squarely in “mostly bearish” territory. This aligns with the broader SA Regime reading of Cautious-Bearish, where only 35.1% of stocks trade above their SMA-40 and sentiment reads Very Bearish/Neutral.
The heavy bearish skew signals institutional distribution across the tape, with capital rotating into defensive pockets of strength (Energy, Communication Services, Health Care) while Industrials, Real Estate, and Utilities show the weakest ATR% readings. Given the regime headwinds, we are capping our Quality Score at 3 out of 5 — only the highest-conviction setups in leading sectors warrant exposure, and position sizing should remain conservative.
Top 5 Bullish Picks
ZS ($191.73) — SOFTWARE / Computer Sftwr-Security
Zscaler posted a strong dollar_20_wk breakout with a 3.23x ATR multiple and 5.2% ADR%, backed by 2.5x relative volume (7.49M vs 2.96M avg). The stock remains 43.1% below its 52-week high but is up 67.3% from its low, suggesting a security-sector rotation is underway.
| Level | Price |
|---|---|
| Stop-Loss | $181.60 |
| Target 1 (1x ATR) | $201.86 |
| Target 2 (2x ATR) | $212.00 |
Institutional Interest: 0 funds reported, funds % increase undefined, bucket funds_1000 — data limited but the elevated volume points to active accumulation.
META ($665.60) — INTERNET / Internet-Content
Meta’s dollar_20_wk move (3.27x ATR multiple, 3.1% ADR%) came on modest 1.1x relative volume, indicating steady institutional buying rather than a speculative spike. Shares sit 27.9% above their 52-week low, still 15.8% off highs, leaving room to run.
| Level | Price |
|---|---|
| Stop-Loss | $644.29 |
| Target 1 (1x ATR) | $686.91 |
| Target 2 (2x ATR) | $708.22 |
Institutional Interest: 0 funds listed, funds % increase undefined, bucket funds_1000.
CRWD ($235.38) — SOFTWARE / Computer Sftwr-Security
CrowdStrike broke out with a 2.88x ATR multiple and the sector’s strongest relative volume (2.6x, 25.1M vs 9.7M avg). Now sitting just 0.6% off its 52-week high and up 174.7% from its low, this is the cleanest technical setup in the group.
| Level | Price |
|---|---|
| Stop-Loss | $222.53 |
| Target 1 (1x ATR) | $248.23 |
| Target 2 (2x ATR) | $261.08 |
Institutional Interest: 0 funds recorded, bucket bucket_0_youth_ipo_less_5yrs — a younger name still building institutional coverage.
PANW ($373.94) — SOFTWARE / Computer Sftwr-Security
Palo Alto Networks confirms the security sub-sector’s strength with a 1.31x ATR multiple, 5.1% ADR%, and 1.8x relative volume (11.67M vs 6.54M avg). Only 6.3% off its 52-week high, this is a lower-risk continuation candidate.
| Level | Price |
|---|---|
| Stop-Loss | $354.52 |
| Target 1 (1x ATR) | $393.36 |
| Target 2 (2x ATR) | $412.78 |
Institutional Interest: 0 funds listed, bucket funds_1000.
FEIM ($85.50) — TELECOM / Telecom-Equipment
Frequency Electronics surged on a 4.11x ATR multiple and elevated 6.6% ADR%, with 2.0x relative volume (635.6K vs 322.1K avg). Up 228.2% from its 52-week low and just 4.8% off highs, this is a high-beta small-cap breakout worth watching closely.
| Level | Price |
|---|---|
| Stop-Loss | $79.56 |
| Target 1 (1x ATR) | $91.44 |
| Target 2 (2x ATR) | $97.38 |
Institutional Interest: 0 funds reported, bucket all_unique_bucket_2_stocks — thin institutional footprint increases volatility risk.
Bearish Alerts
Five notable dollar_d20_wk breakdowns highlight distribution across diverse sectors: LECO (Machinery, -1.73x ATR), AXON (Business Services, -2.21x ATR), LAD (Auto Retail, 0.13x ATR), PJT (Investment Banking, -1.56x ATR), and HEI (Aerospace/Defense, -4.21x ATR, the steepest breakdown of the group). None show elevated relative volume above 1.0x except HEI, suggesting orderly institutional selling rather than panic liquidation, but the breadth of sectors affected reinforces the cautious regime backdrop.
Sector Theme
Cross-sector momentum favors Energy (1.6% ATR%), Communication Services (1.5%), and Health Care (1.4%) as relative leaders, while Industrials (-2.0%), Real Estate (-2.3%), and Utilities (-2.8%) show the deepest weakness. Bullish signals cluster heavily in Software/Security (ZS, CRWD, PANW), suggesting a defensive tech rotation is emerging even as broader breadth remains soft at 35.1% above SMA-40.
Institutional Summary
Fund-count data across all listed signals shows 0 funds reported with undefined funds % increase, limiting direct institutional accumulation tracking today. However, elevated relative volume in ZS (2.5x), CRWD (2.6x), and PANW (1.8x) implies active repositioning within the security software niche. Given the bearish 72.4% signal skew and capped Quality Score of 3, investors should favor selective, high-relative-volume setups in leading sectors while maintaining tight ATR-based stops.