Overall Sector and Industry Analysis
Datetime Range Analyzed (EST): December 16, 2024, to January 15, 2025.
In the past 30 days, the US stock market has continued to display a varied performance across different sectors, reflecting diverse investor sentiment and external factors. Notably, the Technology sector has shown signs of strength, particularly from strong performers like MELI and CRWD, which have sustained upward price changes. Additionally, healthcare and biotechnology, represented by the stocks NARI and CRMD, seem to be gaining traction, suggesting a sector rotational play might be underway.
A growing trend observed is the inclination towards technology stocks, with integrated energy names like FANG failing to maintain the previous strong momentum. On the contrary, companies like UPXI and LPTX have been experiencing low liquidity, reflecting a lack of major institutional betting or interest from retail investors. Meanwhile, financials and traditional manufacturing sectors represented by companies such as EHTH and CAMT remain flat, indicating a focus shift from traditional to technology-driven growth.
Ticker Performance Prediction
Likely Bullish Tickers
- MELI: Showing consistent upward momentum with strong volume support.
- CRWD: Persistent bullish setups with higher highs and higher lows.
- SPOT: Surging interest and stable upward price movement.
- NARI: Consistent buyer support, especially in recent sessions.
These tickers exhibit strong bullish signals and are likely poised for a positive move over the next 2-3 days, supported by volume and bullish price formations.
Individual Stock Analysis
MELI (MercadoLibre, Inc.)
- Support Levels: $1800, $1820, $1830
- Resistance Levels: $1840, $1850, $1865
- Price Action Prediction: Expect bullish continuation with potential retest near $1820 support. Bounce expected towards $1850.
- Price Targets for 1-3 Day Swing: $1845, $1855
- Entry Point: Near $1830 on momentum or pullback
- Stop-Loss Level: Close below $1815
CRWD (CrowdStrike Holdings, Inc.)
- Support Levels: $359, $361, $363
- Resistance Levels: $365, $368, $371
- Price Action Prediction: Holding above $360 could see range play to $368. Consolidation might occur at $365.
- Price Targets for 1-3 Day Swing: $370, $373
- Entry Point: Retest of $360 with upward momentum confirmation
- Stop-Loss Level: Below $358
SPOT (Spotify Technology S.A.)
- Support Levels: $484, $487, $489
- Resistance Levels: $491, $493, $495
- Price Action Prediction: Possible breakout above $490 could lead to fast move to $495, guided by volume.
- Price Targets for 1-3 Day Swing: $492, $497
- Entry Point: Intraday support around $487 with volume
- Stop-Loss Level: Below $485
NARI (Inari Medical, Inc.)
- Support Levels: $79, $80, $81
- Resistance Levels: $82, $83, $84
- Price Action Prediction: Ascending channel pattern likely to test $82 shortly. Close above $81 is key.
- Price Targets for 1-3 Day Swing: $82.50, $83.50
- Entry Point: Close to $80.50 during intraday pullbacks.
- Stop-Loss Level: Below $79.50
By analyzing the recent developments and key levels from the past 30 days, strategic trades can be determined based on current momentum and volume indicators. Always ensure any entries are made with risk management in mind, considering volatility and overall market conditions.