Continuation Breakout Thursday 11AM 12/26/2024

by | Dec 26, 2024 | Swing Idea | 0 comments

Overall Sector and Industry Analysis:
The data provided for analysis spans from December 24 to December 26, 2024, in Eastern Standard Time (EST). During this period, several stocks from different sectors and industries experienced significant movements.

  • The Technology sector, represented by SOUN and CIEN, showed notable strength. SOUN experienced a sharp upward momentum bolstered by high volume spikes, suggesting strong bullish sentiment that continued across multiple sessions.

  • Aerospace and Defense, represented by RKLB, demonstrated a robust price increase over the analyzed timeframe, hinting at positive sentiment or fundamental developments driving the momentum.

  • In the Healthcare sector, with UNH and MDGL included, we witnessed upward trends primarily fueled by steady buying interest, indicating potential bullish opportunities, especially for UNH, which is approaching key resistance levels.

  • Consumer Goods sector represented by LULU displayed a strong upward trend, suggesting strong buying interest as reflected in its consistent volume accumulation.

  • Financial sector stocks like BMA and MUU showed modest gains during the period, with BMA exhibiting signs of bullish consolidation.

  • Emerging markets and smaller sectors like represented by SNAL, showcased some volatility but no clear directional trend, as it struggled to maintain a consistent bullish pattern.

Ticker Performance Prediction:
Among the stocks analyzed, the following tickers exhibit potential upside in the next 2-3 days:

  1. SOUN – Displaying strong bullish momentum with significant volume activity.
  2. RKLB – Showing upward momentum and heavy trading volumes suggesting potential continuation.
  3. UNH – Consistent upward trajectory with robust volume backing.
  4. LULU – Continued upward trend supported by solid volume.

Stocks showing strong bullish signals include SOUN and RKLB, both indicating potential short-term upward momentum due to strong volume and price consolidation patterns.

Individual Stock Analysis:

SOUN

  • Key Support Levels: $20.00, $19.95, $19.63
  • Key Resistance Levels: $21.73, $22.85, $23.00
  • Price Action Prediction: Expect continuation towards $22.85 in the coming days.
  • Price Targets: $22.85 as an immediate target, then $23.00.
  • Entry Point: Near $20.00 upon testing for pullback.
  • Stop-Loss: Set a stop-loss around $19.63 to mitigate downside risk.
  • Finviz Chart: finviz dynamic chart for SOUN

RKLB

  • Key Support Levels: $26.43, $26.11, $26.00
  • Key Resistance Levels: $27.63, $27.79, $28.00
  • Price Action Prediction: Likely to test $27.79 in the next sessions.
  • Price Targets: $27.79, with further potential to $28.00 if momentum continues.
  • Entry Point: Around $26.55 on minor pullbacks would be ideal.
  • Stop-Loss: Place stop-loss at $26.11 to prevent deeper losses.
  • Finviz Chart: finviz dynamic chart for RKLB

UNH

  • Key Support Levels: $509.22, $504.73, $504.25
  • Key Resistance Levels: $511.84, $513.00, $515.00
  • Price Action Prediction: Momentum suggests a move toward $511.84 and potentially $513.00.
  • Price Targets: $511.84 initially, with $513.00 as an extended target.
  • Entry Point: Favor entries near $509.00 for a conservative approach.
  • Stop-Loss: Consider $504.73 as a stop to manage risk.
  • Finviz Chart: finviz dynamic chart for UNH

LULU

  • Key Support Levels: $384.01, $383.60, $378.00
  • Key Resistance Levels: $389.40, $389.86, $392.00
  • Price Action Prediction: Expected to push towards breaking $389.86 shortly.
  • Price Targets: $389.86 with potential test to $392.00 subsequently.
  • Entry Point: Near $384.50 area provides favorable entry.
  • Stop-Loss: Place stop at $383.60 to minimize risks.
  • Finviz Chart: finviz dynamic chart for LULU

This analysis indicates favorable upward momentum for the aforementioned stocks based on recent price and volume activity, suggesting short-term trading opportunities.

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