Continuation Breakout Thursday 3PM 11/07/2024

Overall Sector and Industry Analysis:

Datetime Range Analyzed (EST): From 2024-10-08 to 2024-11-06.

Over the past 30 days, significant movements across sectors and industries have been observed with particular interests focusing on Technology, Retail, and Energy sectors. In the recent 10 days:

1. Technology Sector: There has been a consistent increase in volumes for tech-related stocks like PANW, TWLO, and HUBS, indicating growing momentum. Notably, PANW and HUBS showed good bullish signals with consistent price upticks in the last few trading sessions, suggesting potential continued upside moves.

2. Retail Sector: Stocks such as WMT, COST, and TSLA exhibited mixed performances. While COST had instances of strong intraday recovery, hinting at bullish sentiment, TSLA maintained fluctuations without a clear directional bias driven by recent earnings and market sentiment.

3. Energy Sector: Companies like CVX and XOM displayed increased activities, with erratic trading behaviors. However, there’s a noticeable bullish sentiment in CVX due to recent market conditions and price consistently testing new highs.

Notable Trends and Patterns:
– Strong volume surges in DUOL and OKLO indicate possible institutional interest or speculative trading, raising attention towards these tickers for potential momentum continuance.
– The Semiconductor and SaaS companies are showing a leading edge with stable growth, especially in tools and infrastructure services (CRM and NOW).

Ticker Performance Prediction:

Likely to Go Up in the Next 2-3 Days:
– PANW: Consistent upward trend, with strong technicals showing bullish signals.
– TWLO: Exhibiting breaking patterns with strong buy interest.
– KSCP: Emerging trend sentiment with recent volume breakout.
– OKLO: Increased investor interest from volume spikes.

Strong Bullish Signals:
– PANW, based on its surge in closing prices and volume stability.
– DUOL, due to significant upward movement and strong closing highs over recent sessions.

Individual Stock Analysis:

PANW

• Support Levels: 383.50, 382.10, 380.00.
• Resistance Levels: 386.85, 387.50, 388.20.
• Price Action Predictions: Expect bullish movement with a target of reaching 390 in the coming sessions given current momentum.
• Price Targets: Short-term aim for 388.50 and potentially 390 based on current ATR.
• Entry Point: Around 384, near support for optimal risk/reward.
• Stop-Loss Level: 382.00, slightly below current support level.
• Finviz Chart:

TWLO

• Support Levels: 91.00, 90.50, 90.10.
• Resistance Levels: 92.10, 92.50, 93.00.
• Price Action Predictions: Watch for an initial rise, targeting 92.50-92.90 within next 2-3 days.
• Price Targets: 93.00 based on ATR movement and resistance tests.
• Entry Point: Near 91.30 when volume backs a buying signal.
• Stop-Loss Level: Place stop around 90.80, below recent average lows.
• Finviz Chart:

KSCP

• Support Levels: 22.50, 21.90, 21.30.
• Resistance Levels: 23.91, 24.20, 24.50.
• Price Action Predictions: Expected to climb towards 24.30 amidst volume breakout.
• Price Targets: Look for movement towards 24.50 leveraging recent upsurges.
• Entry Point: Near support at 22.70 for a favorable entry.
• Stop-Loss Level: 21.85, providing coverage below identified support.
• Finviz Chart:

Conclusion:

Traders should keep an eye on PANW and DUOL for strong immediate opportunities while managing entries mindfully on support levels and securing with appropriate stop-loss points to mitigate risks. The recent uptick in volumes across the key sectors indicates a potentially favorable trading landscape focusing on strong performing sectors like Technology and Retail.