20-Week Breakout Analysis — 2026-11-02

Overview

The November 2 session logged 325 total 20-Week Breakout signals — 176 bullish (54.2%) versus 149 bearish (45.8%). This places the tape squarely in the balanced/mixed institutional sentiment zone (40–70% bullish range), consistent with the broader SA Regime reading of Cautious. Breadth confirms the split picture: only 53.6% of names trade above their SMA-40, while sentiment readings are conflicted (Very Bearish / Bullish crosscurrents).

Sector leadership is rotating defensively — Utilities (3.9% ATR%), Materials (3.3%), and Consumer Staples (2.9%) lead volatility-adjusted movement, while Technology (-2.5%), Communication Services (-1.1%), and Financials (-0.4%) lag. This is a classic late-cycle, risk-off rotation pattern.

Quality Score: 3/5. Under a Cautious regime, only the highest-conviction setups warrant a 4+ rating. Signal breadth is solid, but institutional participation is uneven across the bullish leaderboard (several ETFs/micro-caps with 0 funds), tempering overall conviction. Selectivity is the operative strategy today.

Top 5 Bullish Picks

CDNA ($85.88) — Medical / Medical-Services

Weekly Momentum: CDNA posted a pct_20_wk breakout with an exceptional 7.15x ATR multiple, backed by 1.6x relative volume (2.19M vs 1.33M avg). Trading just 5.5% below its 52-week high and up 501.8% off its 52-week low, this is the strongest momentum/institutional combination in today’s scan.

Level	Price
Current	$85.88
Stop (1x ATR)	$80.89
Target (2x ATR)	$95.86

Institutional Interest: 452 funds holding, +18.3% fund increase, 69.6% fund ownership — part of all_unique_bucket_0_stocks. This is the clearest institutional accumulation signal of the session.

KPLT ($11.05) — Retail / Retail-Internet

Weekly Momentum: KPLT broke out via pct_20_wk with a 5.91x ATR multiple on 1.4x relative volume, trading only 12.8% below its 52-week high and up 187.0% from its 52-week low — a young IPO (bucket_0_youth_ipo_less_5yrs) showing aggressive institutional-driven acceleration.

Level	Price
Current	$11.05
Stop (1x ATR)	$9.95
Target (2x ATR)	$13.25

Institutional Interest: 25 funds, +38.9% increase, 13.6% fund ownership, youth-IPO bucket classification.

HEI-A ($251.68) — Industrials / Aerospace & Defense

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Weekly Momentum: HEI-A triggered a dollar_20_wk signal with a solid 2.79x ATR multiple, trading just 10.0% below its 52-week high and 26.3% above its low. As a large-cap defense name, this breakout reflects sector rotation toward defensive industrial exposure amid the Cautious regime.

Level	Price
Current	$251.68
Stop (1x ATR)	$244.50
Target (2x ATR)	$266.04

Institutional Interest: No fund data reported in this scan; large-cap liquidity (310,411 shares) supports continued institutional participation historically.

IPX ($15.00) — Mining / Mining-Metal Ores

Weekly Momentum: IPX registered a pct_20_wk breakout on 1.2x relative volume, trading 75.6% below its 52-week high but up 23.6% from its low — a basing commodity name aligning with Materials sector leadership (3.3% ATR%).

Level	Price
Current	$15.00
Stop (1x ATR)	$13.77
Target (2x ATR)	$17.46

Institutional Interest: 30 funds, +50.0% increase, 11.9% fund ownership.

XCH ($5.06) — Energy / Energy-Alternative/Other

Weekly Momentum: XCH posted a pct_20_wk move with a 4.46x ATR multiple on 1.8x relative volume, up a massive 301.6% from its 52-week low despite sitting 85.9% off its high — a speculative alternative-energy name showing early institutional interest.

Level	Price
Current	$5.06
Stop (1x ATR)	$4.34
Target (2x ATR)	$6.50

Institutional Interest: 2 funds, +100.0% increase, 11.2% fund ownership — early-stage accumulation.

Bearish Alerts

Bearish pressure is concentrated in speculative and biotech names. APMD (-2.72x ATR multiple, 48 funds) sits 56.4% below its 52-week high despite only being 4.5% off its low, suggesting a sharp reversal. RZAI (SOFTWARE, 0 funds) and PBR-A (Energy, 0 funds) show weaker institutional backing amid declines. ETF-linked names LITU and ASSX round out the list with elevated relative volume (2.7x and 1.4x) signaling distribution-driven selling.

Sector Theme

Momentum is bifurcated: defensive/value sectors (Utilities, Materials, Staples) are driving bullish breakouts, while growth-sensitive Technology, Communication Services, and Financials show negative ATR% readings. This rotation supports a defensive-leaning bullish bias — consistent with the Cautious regime designation.

Institutional Summary

CDNA leads fund accumulation decisively with 452 funds (69.6% ownership, +18.3% increase), followed by IPX (30 funds, +50.0%), KPLT (25 funds, +38.9%), and ITG (24 funds, +242.9% increase — the fastest-growing fund base despite a negative ATR multiple). APMD remains notable on the bearish side with 48 institutional holders amid its decline, warranting monitoring for further distribution.

Signals