Continuation Breakout Monday 1PM 1/13/2025

by | Jan 13, 2025 | Swing Idea | 0 comments

Overall Sector and Industry Analysis

Datetime Range Analyzed: December 12, 2024, to January 13, 2025 (EST)

Over the past 30 days, the diverse set of stocks presented a mixed performance across various sectors. Certain sectors and industries have shown strength, while others faced declines, providing a complex landscape for swing trading.

  1. Technology Sector: Stocks within this sector, such as KLAC and ONTO, have exhibited relative strength with noticeable upward momentum supported by increased volume, suggesting bullish interest. The semiconductor industry, in particular, has been resilient, echoing broader market trends in tech growth.

  2. Healthcare Sector: Stocks like HUM and ASUR showed volatility with short-term price corrections but have started to find support, indicating potential reversals. BIO, however, is seeing consistent trading range-bound behavior, suggesting consolidation.

  3. Consumer Discretionary: Companies like ORLY have shown steady growth, aligning with consumer spending patterns. Volume dips are countered by a strong industry base in auto parts and service providers.

  4. Energy Sector: FANG and LNG indicate mixed signals; price volatility accompanied by fluctuating volumes. However, energy stocks like GEV show strong fundamentals and recovery patterns following macroeconomic cues such as oil prices stabilization.

  5. Industrials: CMI, GWW, and EME have been following a steady trend, supported by moderate-to-high trading volumes, indicating stable investor confidence in heavy industry sustainability and growth prospects.

  6. Financials and Others: Stocks like BDMD and DTEAF have shown sporadic momentum, reflecting specific company-driven news rather than broad sector trends.

Ticker Performance Prediction

Based on recent momentum and volume trends over the last 10 trading days, the following tickers are likely to show short-term upward movement in the next 2-3 days:

  • KLAC: Continues to form higher highs supported by substantial volumes, suggesting sustained demand.
  • HUM: Starting to recover from a pullback with bullish engulfing patterns.
  • CMI: Maintains a gradual uptrend, supported by recent strong earnings outlook.
  • GWW: Demonstrating strong buying pressure near potential support levels.

Bullish Signals:

  • KLAC: Strong upward momentum with a robust volume profile suggests potential breakout.
  • GWW: Immediate resistance levels are being approached with strong buying pressure.

Individual Stock Analysis

KLAC

  • Support Levels: 678, 675, 670
  • Resistance Levels: 685, 690, 695

Price Action: Expect continued upwards momentum with possible short-term consolidation between 678 – 685 before a breakout above 690.

  • Price Targets:
    • Target 1: 685
    • Target 2: 690
    • ATR Suggests potential movement up to 695.
  • Entry Point: Close to support level of 678.

  • Stop-Loss Recommendation: Set below 675 to minimize potential downside.

Chart Reference:

finviz dynamic chart for  KLAC

HUM

  • Support Levels: 287, 285, 283
  • Resistance Levels: 292, 295, 298

Price Action: Reversal pattern indicates upwards movement, extending towards 292 with potential to break 295 if volume supports expanded move.

  • Price Targets:
    • Target 1: 292
    • Target 2: 295
    • ATR can suggest expansion up to 298.
  • Entry Point: Optimal near 287 support.

  • Stop-Loss Recommendation: Below 285 to control risk exposure.

Chart Reference:

finviz dynamic chart for  HUM

CMI

  • Support Levels: 354, 352, 350
  • Resistance Levels: 360, 362, 365

Price Action: Expect a movement towards 360, potentially followed by breakout attempts past the upper resistance levels if volume confirms bullish trend continuation.

  • Price Targets:
    • Target 1: 360
    • Target 2: 362
    • Target 3 with ATR stretch: 365
  • Entry Point: Near 354 key support.

  • Stop-Loss Recommendation: Positioned under 352 for risk management.

Chart Reference:

finviz dynamic chart for  CMI

GWW

  • Support Levels: 1067, 1065, 1063
  • Resistance Levels: 1075, 1080, 1085

Price Action: Anticipate further upward pressure toward 1075, breaking fresh barriers if industrials sustain broader bullish sentiment.

  • Price Targets:
    • Target 1: 1075
    • Target 2: 1080
    • ATR supports potential reaching 1085.
  • Entry Point: Suggested around 1067.

  • Stop-Loss Recommendation: Below 1065 to mitigate downward risk.

Chart Reference:

finviz dynamic chart for  GWW

In conclusion, monitoring these key levels and price behaviors will be crucial for capturing short-term trades, aligned with the broader sectorial trends and individual stock momentum within this time frame.

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