Overview
The 20-Week Breakout scan generated 135 total signals on 2026-10-03, split between 74 bullish (dollar_20_wk + pct_20_wk) and 61 bearish (dollar_d20_wk + pct_d20_wk) moves. The resulting bullish ratio of 54.8% falls into the balanced zone (40-70%), signaling mixed institutional sentiment rather than outright conviction in either direction.
This is notable given the broader backdrop: the SA Regime reads Bearish, breadth is thin at just 21.6% of stocks above their 40-week SMA, yet sentiment readings are paradoxically Bullish/Bullish. This divergence — weak breadth, bearish regime, but bullish sentiment and a slight edge in breakout signals — suggests a narrow, selective rally concentrated in specific sectors rather than broad market participation.
Sector leadership confirms this narrowness: Technology (+2.8% ATR%) and Health Care (+0.9%) are driving strength, while Consumer Discretionary (-2.3%), Utilities (-3.1%), and Real Estate (-3.9%) are under pressure. Chips and electronics names dominate the bullish list below, aligning with the Technology leadership.
Quality Score: 3/5. Per regime guidance, bearish/correction conditions cap quality at 3 regardless of signal strength — market headwinds (thin breadth, bearish regime) limit sustainable upside even as individual chip/tech names post strong breakouts. Institutional fund data shows 0 confirmed funds across all tracked names, meaning conviction must be inferred from price/volume action alone.
Top 5 Bullish Picks
ONTO ($327.74) — CHIPS / Elec-Semiconductor Equip
ONTO posted a 3.35x ATR multiple move on average volume (Rel Vol 1.0), with a 4.2% ADR% reflecting high daily volatility typical of semiconductor equipment names. The stock sits 15.2% below its 52-week high but is up 175.5% from its 52-week low, showing strong trend continuation within the leading Technology sector.
| Level | Price |
|---|---|
| Current | $327.74 |
| Risk (1x ATR) | $312.15 |
| Target (2x ATR) | $358.92 |
Institutional Interest: 0 confirmed funds; bucket funds_500 — institutional data undisclosed, monitor for confirmation.
SMH ($630.60) — ETF/ETN/CEF / Finance-ETF
The semiconductor ETF registered a 4.39x ATR breakout, the highest multiple among bullish signals, despite below-average relative volume (0.8). It trades just 6.1% off its 52-week high, confirming broad chip-sector strength rather than a single-stock anomaly.
| Level | Price |
|---|---|
| Current | $630.60 |
| Risk (1x ATR) | $615.30 |
| Target (2x ATR) | $661.20 |
Institutional Interest: No fund bucket classification (ETF); 0 funds tracked directly.
ACN ($198.94) — BUSINS SVC / Computer-Tech Services
Accenture’s breakout came with above-average volume (Rel Vol 1.5, 10M vs 6.66M avg), the strongest volume confirmation of the group. Despite sitting 31.7% below its 52-week high, the 68.4% gain off lows signals renewed accumulation in tech services.
| Level | Price |
|---|---|
| Current | $198.94 |
| Risk (1x ATR) | $188.98 |
| Target (2x ATR) | $218.86 |
Institutional Interest: 0 confirmed funds; bucket funds_1000 — largest-cap bucket classification.
MPWR ($1439.73) — CHIPS / Elec-Semiconductor Fabless
MPWR’s 2.73x ATR move stands out for its extreme LOD Risk ATR% of 127.5%, indicating sharp intraday swings. High ADR% (3.7%) and a 72.8% gain off 52-week lows underscore aggressive repositioning in fabless semiconductor names.
| Level | Price |
|---|---|
| Current | $1439.73 |
| Risk (1x ATR) | $1385.04 |
| Target (2x ATR) | $1549.11 |
Institutional Interest: 0 confirmed funds; bucket funds_1000.
CLS ($387.35) — ELECTRNCS / Elec-Contract Mfg
Celestica’s 3.37x ATR breakout carries the highest ADR% (5.0%) in the top 5, reflecting elevated volatility in contract manufacturing. Still 18.3% below its 52-week high but up 68.2% from lows, this is a volatile but trending name.
| Level | Price |
|---|---|
| Current | $387.35 |
| Risk (1x ATR) | $367.46 |
| Target (2x ATR) | $427.13 |
Institutional Interest: 0 confirmed funds; bucket all_unique_bucket_1_stocks.
Bearish Alerts
Bearish signals cluster heavily in Medical/Biotech: LLY (-1.02x ATR), MDGL (-1.38x), KRYS (-1.80x), and LQDA (-2.77x, with an alarming 4.1x relative volume spike) all broke down this session. LQDA is particularly concerning, trading 69.4% below its 52-week high on heavy distribution volume. RACE (Auto Manufacturers, -2.18x ATR) also broke down, now 23.1% off its high. Health Care’s sector ATR% of +0.9% masks significant single-name weakness beneath the surface.
Sector Theme
Technology and semiconductor-adjacent names (ONTO, SMH, MPWR, ADI, CLS, FN, ACN, SNPS) dominate the bullish list, consistent with Technology’s leading +2.8% ATR% sector reading. Industrial/infrastructure names (CAT, PWR) also appear, hinting at a secondary capex theme. Conversely, Medical/Biotech shows internal bifurcation — sector-level strength but multiple high-profile breakdowns — while Consumer Discretionary, Utilities, and Real Estate remain broadly out of favor.
Institutional Summary
No tickers show confirmed institutional fund accumulation (all report 0 funds, undefined % increase), limiting conviction-based confirmation this session. Bucket classifications suggest ACN, MPWR, and CAT sit in the largest-cap funds_1000 tier, likely attracting institutional attention despite data gaps. Traders should treat these breakouts as price/volume-driven setups and monitor subsequent fund disclosure data for confirmation of institutional follow-through.