Continuation Breakout Tuesday 4PM 11/26/2024

Overall Sector and Industry Analysis:

Date Range Analyzed: October 27, 2024, to November 26, 2024, EST

The recent 30-day analysis across multiple sectors indicates a varied performance, with technology and healthcare showing strong momentum.

1. Technology: Stocks like FFIV and SHOP have experienced consistent volume with an upward price movement, suggesting strong institutional interest. FFIV, in particular, has exhibited a stable uptrend over the past month.

2. Healthcare: AMGN and FBRX have shown significant volume spikes and positive price movements in the last 10 days. This might be indicative of accumulating positions ahead of broader sector announcements or earnings.

3. Consumer Discretionary: Mixed performance was noted. SHOP showed resilience, though PTON experienced volatility with decreasing prices, indicating pressure from supply.

4. Energy and Utilities: Stocks like PWR and CEG exhibited strong recent volume with flat price performance, possibly indicating a consolidation phase before the next movement.

5. Financials: A moderate rise was observed in stocks like CR and EVR with increasing volume, suggesting investor confidence in the sector.

Notable Tickers to Watch: FFIV, SHOP, AMGN, FBRX

Ticker Performance Prediction:

• AMGN: Likely to experience upward movement in the next 2-3 days with strong bullish signals observed in recent price action. Spikes in volume suggest institutional buying interest.

• FFIV: Continues its upward trend with consistent volume increases, indicating a potential breakout above recent highs.

• SHOP: With recent consolidation and increasing volume, a move to the upside is anticipated.

Strong Bullish Signals: AMGN showcased a strong breakout from resistance with increased volume, indicating possible continuation.

Individual Stock Analysis:

1. AMGN:
   • Support Levels: $277.00, $274.00, $272.50
   • Resistance Levels: $280.50, $282.00, $285.00
   • Price Action Prediction: Anticipate testing resistance at $280.50 within the next 1-3 days, with potential to reach $282.00 if volume remains high.
   • Price Targets: $280.50 (near term), $282.00 (middle target), $285.00 (ambitious target)
   • Entry Point: Consider entry around $277.00 if stock pulls back to this support level.
   • Stop-Loss: Near $272.50 to limit downside risk.
   • Finviz Chart:
2. FFIV:
   • Support Levels: $251.00, $250.00, $248.50
   • Resistance Levels: $253.00, $255.00, $257.50
   • Price Action Prediction: Expected to move towards $253.00 with continued volume, potentially testing $255.00.
   • Price Targets: $253.00, $255.00, $257.50
   • Entry Point: Around $251.00 support is ideal for a low-risk entry.
   • Stop-Loss: Set around $248.50.
   • Finviz Chart:
3. SHOP:
   • Support Levels: $112.00, $111.00, $110.00
   • Resistance Levels: $113.00, $114.00, $115.50
   • Price Action Prediction: SHOP is poised to break resistance at $113.00, with significant volume support pushing towards $114.00.
   • Price Targets: $113.00, $114.00, $115.50
   • Entry Point: Around the $112.00 level for entry.
   • Stop-Loss: Near $111.00.
   • Finviz Chart:
4. FBRX:
   • Support Levels: $16.50, $16.00, $15.50
   • Resistance Levels: $17.50, $18.00, $18.50
   • Price Action Prediction: Anticipate a move to challenge $17.50, with strong momentum carrying it potentially to $18.00.
   • Price Targets: $17.50, $18.00, $18.50
   • Entry Point: Near $16.50 support to capitalize on the upswing.
   • Stop-Loss: Positioned at $16.00.
   • Finviz Chart:

These analyses provide strategic entry and exit points to maximize short-term gains while managing risk effectively.