Continuation Breakout Wednesday 2PM 11/27/2024

by | Nov 27, 2024 | Swing Idea | 0 comments

Overall Sector and Industry Analysis:

Datetime Range Analyzed (EST): October 28, 2024, to November 27, 2024.

Over the past 30 days, the market has shown varied performances across sectors. The notable sectors include Technology, Healthcare, Energy, and Consumer Discretionary, each exhibiting unique trends.

  1. Technology Sector: This sector experienced moderate fluctuations, with stocks like SEDG and CHKP maintaining steady performance despite some intra-day volatility. CHKP showed resilience with a consistent uptrend, as evidenced by increased volume and price stability.

  2. Healthcare Sector: It displayed a mixed momentum. Stocks like LLY and IFRX witnessed considerable intra-day volatility, reflecting investors’ mixed sentiment regarding market conditions. LLY experienced a significant drop towards the end of the period, indicating potential bearish pressure or profit-taking at higher levels.

  3. Energy Sector: Stocks like GTLS have caught attention with a moderate uptrend, supported by rising volume. This suggests a bullish sentiment dominating this sector, possibly due to favorable macroeconomic factors or anticipation of future demand.

  4. Consumer Discretionary: DIS exhibited a strong upward trajectory supported by significant volume spikes, indicating strong investor interest and potential bullish momentum.

Noticeable Patterns:
– Increased trading volumes around specific stocks within each sector suggest institutional interest or wider market sentiment shifts.
– Tickers such as SEDG, DIS, and CHKP show pronounced trends that could hint at continuation patterns, while others like LLY and IFRX may face resistance.

Ticker Performance Prediction:

Based on recent trends and volume data, the following stocks are likely to see upward movement in the next 2-3 days:
– DIS: With consistent buying pressure and a strong high-volume breakout, it’s showing strong bullish signals.
– CHKP: Exhibiting a steady uptrend with volume support, indicating continued upward momentum.
– GTLS: Its consistent climb backed by healthy volume suggests a continuation of the bullish trend.

Individual Stock Analysis:

  1. DIS
    • Support Levels: 117.35, 116.87, 116.78
    • Resistance Levels: 118.20, 118.80, 119.30
    • Price Action Prediction: Expect continuation towards 118.20-118.80 with potential pullbacks to 117.35.
    • Price Targets: 118.20 (Short-term), 118.80 (2-3 day target)
    • Entry Points: Near 117.35 support.
    • Stop-loss Level: Below 116.78.
  • Finviz Chart: finviz dynamic chart for DIS
  1. CHKP
    • Support Levels: 181.24, 180.36, 179.50
    • Resistance Levels: 181.94, 182.50, 183.10
    • Price Action Prediction: Likely to aim for 181.94, with minor consolidation around 181.49.
    • Price Targets: 181.94 (Immediate), 182.50 (2-day target)
    • Entry Points: Around 181.24 with confirmation.
    • Stop-loss Level: Below 180.36.
  • Finviz Chart: finviz dynamic chart for CHKP
  1. GTLS
    • Support Levels: 193.94, 192.64, 192.81
    • Resistance Levels: 194.66, 195.00, 196.00
    • Price Action Prediction: Expected to test 194.66 with gradual movements, target 195-196 following breakout.
    • Price Targets: 194.66 (Near-term), 195.50 (Upside potential over 3 days)
    • Entry Points: Pullbacks near 193.94.
    • Stop-loss Level: Below 192.81.
  • Finviz Chart: finviz dynamic chart for GTLS

This analysis offers a strategic view for short-term trading, highlighting potential opportunities for gains while considering prudent risk management. As always, market conditions can change rapidly, making it essential to keep an eye on technical indicators and news developments.

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