Breakout Breakdown
November 6, 2026 Breakout Scan Deep Dive: 8 Strong Momentum Names
This technical breakout scan uses a Zero Lag Exponential Moving Average (ZLEMA) to identify stocks showing strong momentum — specifically those trading above the ZLEMA with a composite score (SCR). Higher scores and larger positive distance (DIST) values indicate cleaner breakout character. All eight names are classified as “strong.” Four are new finds relative to prior scans: CHPT, SMA, STGW, and ASH.
The cluster is heavily influenced by the current earnings season, with most names reacting to recent results or guidance updates from late October through early November 2026.
Scan Summary
| Symbol | Score | Type | Close | Dist | ZLEMA | Status |
|---|---|---|---|---|---|---|
| APP | 100 | strong | 395.85 | +7.7% | 319.19 | — |
| XERS | 100 | strong | 14.56 | +5.6% | 12.09 | — |
| CHPT | 96 | strong | 11.87 | +3.6% | 11.13 | New |
| IBN | 88 | strong | 33.83 | +3.7% | 31.93 | — |
| FOSL | 77 | strong | 7.76 | +1.8% | 7.23 | — |
| SMA | 66 | strong | 38.70 | +1.4% | 37.85 | New |
| STGW | 61 | strong | 11.38 | +0.2% | 11.26 | New |
| ASH | 57 | strong | 77.99 | +0.6% | 76.34 | New |
Prices are scan closes. Click symbols for TradingView charts. Table scrolls horizontally on smaller screens.
Individual Profiles
APP — AppLovin (Score 100)
AI-powered advertising platform providing end-to-end solutions including Axon Ads Manager, MAX in-app bidding, Adjust analytics, and connected TV capabilities. Q3 2026 results (reported November 4) delivered a strong beat: revenue approximately $2.185 billion (+55% year-over-year), net income around $1.44 billion (+72%), and adjusted EBITDA of roughly $1.84 billion at an ~84% margin, accompanied by elevated Q4 guidance and continued aggressive share repurchases. The stock has shown sharp post-earnings momentum.
Technicals reflect a sizable extension above the ZLEMA. High-beta name with notable growth characteristics; valuation has expanded with the recent move. Key risks include competitive dynamics in digital advertising and ongoing AI model execution.
View APP chart on TradingView →XERS — Xeris Biopharma (Score 100)
Commercial-stage specialty biopharmaceutical company focused on endocrine and rare diseases. Portfolio includes Gvoke (ready-to-use glucagon), Recorlev (for Cushing’s syndrome), and Keveyis (periodic paralysis), with pipeline candidates such as XP-8121. Q3 2026 results (November 5) showed revenue of $107.2 million (+44% year-over-year), driven largely by Recorlev nearly doubling. Management raised full-year 2026 guidance to $395–405 million and lifted the 2030 revenue outlook from approximately $750 million to more than $1 billion.
The stock reacted strongly to the update. Profitability remains developing, and the thesis depends heavily on continued Recorlev growth and pipeline progress.
View XERS chart on TradingView →CHPT — ChargePoint Holdings (Score 96, New Find)
Provider of electric vehicle charging hardware, software, and networked solutions. Recent activity includes expansion of European channel partner programs amid broader industry discussion around charger performance and utilization. The stock has been pressing toward recent highs in the low-$12 area on technical momentum, despite a still-challenging path to sustained profitability and a relatively modest market capitalization.
Speculative profile with historical operating losses, competitive pressures in EV infrastructure, and prior capital structure adjustments. The +3.6% distance above ZLEMA shows solid short-term strength, but fundamental execution remains the longer-term variable.
View CHPT chart on TradingView →IBN — ICICI Bank ADR (Score 88)
American depositary receipt for India’s second-largest private-sector bank, with strengths in retail banking, wholesale lending, digital platforms, and related insurance and asset management businesses. Local shares have recently reached all-time highs on the back of solid asset quality metrics, digital engagement, and prior quarterly results. The ADR is trading near recent highs with a moderate extension above the ZLEMA.
Generally viewed as a higher-quality compounder relative to pure momentum names in the scan. Risks include India macroeconomic conditions, currency fluctuations, and regulatory considerations. The recent rally has also stretched valuations relative to longer-term averages.
View IBN chart on TradingView →FOSL — Fossil Group (Score 77)
Global designer, marketer, and distributor of fashion accessories including traditional and smartwatches, jewelry, handbags, and licensed brands (examples include Fossil, Skagen, Michael Kors, and Kate Spade). The company has been executing a multi-quarter operational turnaround focused on cost structure, full-price selling, and brand initiatives. Analyst coverage has included new Buy initiations, and inclusion in the Russell 2000 has supported visibility. Next earnings are scheduled for November 10.
The stock has recovered significantly from 2025 lows. Trailing profitability remains challenged, with ongoing consumer discretionary and secular (smartwatch competition) pressures. Distance above ZLEMA is modest.
View FOSL chart on TradingView →SMA — SmartStop Self Storage REIT (Score 66, New Find)
Self-managed real estate investment trust focused on self-storage properties across the United States and Canada, with both owned and managed portfolios. Q3 2026 results (November 4) included an earnings-per-share beat and solid revenue growth, along with raised funds-from-operations guidance. The shares reached a new 52-week high following the report.
Typical REIT characteristics apply, including interest-rate sensitivity and a relatively high payout ratio. Valuation has moved after the positive results. Among the newer finds, this presents one of the cleaner near-term fundamental stories.
View SMA chart on TradingView →STGW — Stagwell (Score 61, New Find)
Marketing services and digital transformation company with capabilities spanning creative, media, communications, and AI-enabled software/solutions. Q3 2026 (reported October 29) was mixed on a GAAP basis but showed adjusted earnings strength, growth in digital and Marketing Cloud segments, and raised full-year adjusted guidance. Recent developments include the acquisition of Freestar and notable client wins. Shares have been testing 52-week highs.
The distance above ZLEMA is very tight (+0.2%), indicating a less extended technical setup. Advertising industry cyclicality and still-developing GAAP profitability are notable offsets to the AI/software pivot narrative.
View STGW chart on TradingView →ASH — Ashland (Score 57, New Find)
Specialty chemicals and ingredients company serving life sciences (pharmaceutical additives), personal care, specialty additives, and related markets. Fiscal fourth-quarter 2026 results (reported early November) showed sales growth of approximately 4% and modest adjusted EBITDA improvement, with strength in Life Sciences and Personal Care offsetting some weakness elsewhere. Fiscal 2027 outlook was constructive. The stock is trading near recent highs with only a mild extension above the ZLEMA.
More of a steady industrial profile within the scan. Cyclical exposure and occasional earnings variability remain relevant considerations.
View ASH chart on TradingView →Overall Observations
- Earnings-driven cluster: The majority of names have clear recent (or imminent) fundamental catalysts from the current reporting window. APP and XERS stand out for both the magnitude of the results/guidance updates and the highest scores with the largest distances above the ZLEMA.
- New finds: CHPT is the highest-risk/highest-beta technical name. SMA and STGW offer cleaner recent results. ASH is the most steady of the group.
- Technical character: All eight are above their ZLEMA and labeled “strong,” but extension varies significantly. Larger distances often align with stronger fundamental news flow.
- Cross-cutting risks: Post-news price extension, elevated beta in several names, uneven profitability or high valuations in others, and normal mean-reversion risk after earnings reactions. IBN is the relative quality outlier.
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