Overall Sector and Industry Analysis:
DateTime Range Analyzed: November 3, 2024, to December 3, 2024 (EST).
Commentary:
During the last 30 days, there have been varied performances across different sectors. Notably, technology and consumer discretionary stocks have experienced robust momentum, with some stocks achieving new highs while others exhibited consolidation patterns. Stocks in the healthcare and energy sectors displayed mixed signals; however, there was notable activity that suggests potential for reversals or continued bullish trends in specific tickers.
Noticeable Trends/Patterns:
– The technology sector, as indicated by stocks like CRM and ADBE, shows strong upside momentum, often bouncing from key support levels.
– Consumer discretionary stocks such as APPF and SNOW are also exhibiting consistent upward trends, possibly due to seasonal factors.
– The healthcare sector has been fluctuating, with stocks like LLY indicating potential rebounds.
– Energy-related stocks display volatility, but with potential short-term gains suggested by AS and MOH.
– Within communication services, stocks like GDDY and TWLO are showing varied consolidation and breakout signals.
Ticker Performance Prediction:
Likely to Rise in the Next 2-3 Days:
- CRM – Salesforce Inc.
- SNOW – Snowflake Inc.
- ADBE – Adobe Inc.
- LLY – Eli Lilly and Co.
- MOH – Molina Healthcare Inc.
Strong Bullish Signals:
- ADBE – Adobe Inc.: Consistent upward pressure and breaking resistance levels.
- SNOW – Snowflake Inc.: Sustained buying interest, pushing higher lows.
- LLY – Eli Lilly and Co.: Rebounding from oversold conditions with increasing volume.
Individual Stock Analysis:
CRM – Salesforce Inc.
Support Levels: 329.00, 327.50, 325.00
Resistance Levels: 331.50, 335.00, 340.00
Price Action Prediction: Based on the 30-minute chart, a potential move towards the 331.50 resistance before a possible breakout towards 335. An entry point may be around the 329.00 support after consolidation.
Price Targets:
– Target 1: 331.50
– Target 2: 335.00
– Target 3: 340.00
Suggested Entry Point: Near 329.00
Stop-Loss: Below 327.50
SNOW – Snowflake Inc.
Support Levels: 173.00, 171.50, 169.00
Resistance Levels: 175.50, 178.00, 180.00
Price Action Prediction: Anticipate a retest of the 175.50 resistance. A successful breach could drive the price towards the 178 resistance. Buyers may consider entry near the 173 support level.
Price Targets:
– Target 1: 175.50
– Target 2: 178.00
– Target 3: 180.00
Suggested Entry Point: Around 173.00
Stop-Loss: Below 171.50
ADBE – Adobe Inc.
Support Levels: 514.00, 510.00, 505.00
Resistance Levels: 517.00, 520.00, 525.00
Price Action Prediction: Look for continuation towards the 517 resistance followed by a quicker move to 520. Entry around 514 support after confirming buyers at the level.
Price Targets:
– Target 1: 517.00
– Target 2: 520.00
– Target 3: 525.00
Suggested Entry Point: Near 514.00
Stop-Loss: Below 510.00
LLY – Eli Lilly and Co.
Support Levels: 812.00, 808.50, 805.00
Resistance Levels: 816.00, 820.00, 825.00
Price Action Prediction: If momentum continues, anticipate a move towards 816. Watch for steady buying near the 812 area as potential entry.
Price Targets:
– Target 1: 816.00
– Target 2: 820.00
– Target 3: 825.00
Suggested Entry Point: Around 812.00
Stop-Loss: Below 808.50
MOH – Molina Healthcare Inc.
Support Levels: 312.50, 310.00, 307.00
Resistance Levels: 315.00, 318.00, 320.00
Price Action Prediction: Identifies opportunity towards 315 after a successful test of support at 312.50.
Price Targets:
– Target 1: 315.00
– Target 2: 318.00
– Target 3: 320.00
Suggested Entry Point: Near 312.50
Stop-Loss: Below 310.00
These analyses are based on recent price actions and patterns, with a focus on 30-minute bar analysis to determine potential short-term movements. Traders should consider broader market context and news events that could impact price volatility.