20-Week Breakout Analysis — 2026-11-05

Overview

The 20-week scan produced 788 total signals: 227 bullish (28.8%) and 561 bearish (71.2%). With more than 60% of signals bearish, the data points to institutional distribution and a defensive posture. The regime is Cautious, with breadth at 52.6% above SMA-40 and sentiment at Extreme Bearish / Bearish.

Leadership is narrow and defensive. Utilities (3.3%), Consumer Staples (3.0%) and Health Care (1.8%) lead, while Industrials (-1.1%), Energy (-1.9%) and Technology (-3.0%) lag. The bullish list is dominated by insurers and quality compounders rather than growth. Every listed ticker shows 0 institutional funds in the data, so fund-based conviction cannot be confirmed.

Quality Score: 2/5. The signal count is large, but the bearish skew, the cautious regime and the lack of fund data limit conviction.

Top 5 Bullish Picks

AJG ($288.14) — Insurance / Insurance

Weekly Momentum: AJG sits 0.6% below its 52-week high and 51.1% above its 52-week low. Its ATR multiple is 5.51 on relative volume of 1.8 (2,706,101 vs. 1,500,010 average), which suggests real participation in the breakout.

Level	Price
Entry	$288.14
Stop (1 ATR, $8.08)	$280.06
Target 1 (2 ATR)	$304.30
Target 2 (3 ATR)	$312.38

Institutional Interest: 0 funds listed; bucket funds_1000.

BRK-B ($571.74) — Financial / Insurance - Diversified

Weekly Momentum: BRK-B is 1.5% below its 52-week high, with an ATR multiple of 6.34. Relative volume is 2.2 (9,788,477 vs. 4,471,990 average). ADR of 1.1% and LOD risk of 7.2% ATR point to an orderly advance.

Level	Price
Entry	$571.74
Stop (1 ATR, $8.94)	$562.80
Target 1 (2 ATR)	$589.62
Target 2 (3 ATR)	$598.56

Institutional Interest: 0 funds listed; bucket N/A.

LLY ($1367.37) — Medical / Medical - Pharmaceuticals

Open full analysis on WaveFinder →

Weekly Momentum: LLY has an ATR multiple of 3.72 on relative volume of 1.9 (4,765,330 vs. 2,564,580 average). It is 5.7% below its 52-week high and 60.8% above its low. Health Care is a leading sector, which supports the move. LOD risk is a low 4.1% ATR.

Level	Price
Entry	$1367.37
Stop (1 ATR, $47.56)	$1319.81
Target 1 (2 ATR)	$1462.49
Target 2 (3 ATR)	$1510.05

Institutional Interest: 0 funds listed; bucket funds_1000.

KNSL ($397.01) — Insurance / Insurance

Weekly Momentum: KNSL’s ATR multiple is 3.55 on relative volume of 2.1 (482,805 vs. 224,370 average). It is 5.9% below its 52-week high and 38.2% above its low.

Level	Price
Entry	$397.01
Stop (1 ATR, $12.00)	$385.01
Target 1 (2 ATR)	$421.01
Target 2 (3 ATR)	$433.01

Institutional Interest: 0 funds listed; bucket funds_500.

TPR ($134.13) — Consumer / Apparel - Clothing & Shoes

Weekly Momentum: TPR has an ATR multiple of 4.20 on relative volume of 1.7 (5,306,445 vs. 3,139,190 average). It is still 18.6% below its 52-week high, so it has more room to run, but LOD risk of 48.8% ATR calls for a tighter stop.

Level	Price
Entry	$134.13
Stop (1 ATR, $4.59)	$129.54
Target 1 (2 ATR)	$143.31
Target 2 (3 ATR)	$147.90

Institutional Interest: 0 funds listed; bucket funds_1000.

Bearish Alerts

• QQQ ($647.05): ATR multiple -4.41 on relative volume of 3.5, the heaviest in the group. It signals broad large-cap growth weakness.
• ONTO ($155.86): ATR multiple -3.56, relative volume 2.2, 59.7% below its 52-week high. This is semiconductor equipment weakness.
• HUT ($45.95): ATR multiple -2.64, relative volume 2.1, 67.4% below its high (Crypto/Blockchain).
• BELFB ($195.94): ATR multiple -2.41, relative volume 2.6, 41.6% below its high (Electronic Parts).
• LMT ($576.36): ATR multiple 1.49, relative volume 1.4, 16.7% below its high (Aerospace/Defense).

Weakness is concentrated in chips, electronics, crypto and growth ETFs, consistent with Technology’s -3.0% ATR reading.

Sector Theme

Insurance dominates the bullish list with AJG, KNSL, AON and BRK-B, all of which are near highs on solid volume. Health Care (LLY) is the other area of strength. Technology-linked names lead the bearish side. The rotation is defensive, away from growth and toward insurance and healthcare.

Institutional Summary

All tickers report 0 funds and undefined fund-increase data, so no accumulation signal can be confirmed. The bucket tags (funds_1000 for AJG, LLY and TPR; funds_500 for KNSL) suggest institutional ownership exists, but the data does not quantify it. Given the Cautious regime, traders should lean on volume and relative strength and keep position sizes modest.

Signals