Continuation Breakout Friday 4PM 3/07/2025

by | Mar 7, 2025 | Swing Idea

Overall Sector and Industry Analysis

Datetime Range Analyzed: From 2025-02-06 to 2025-03-07 in Eastern Standard Time (EST).

The overall performance across multiple sectors has shown mixed trends over the past 30 days, with a variety of movements in both price and volume. Key sectors of focus, including healthcare, technology, consumer goods, and financials, present divergent developments:

  • Healthcare (e.g., MCK, AMGN, SJM, ZTS): This sector shows steady performance, especially with stocks like MCK exhibiting some bullish activity over recent sessions.

  • Technology (e.g., AON, VRSK, PGR): Stocks within this sector have been mostly stable, with slight upticks in volume, suggesting potential mounting interest that could affect upward movement.

  • Industrials/Defense (e.g., LMT, NOC, ESLT): A sector showing resilience with minor downturns. Notably, stocks like LMT remain within tight trading ranges.

  • Consumer Goods (e.g., HSY, OTLY): Demonstrating mixed patterns with OTLY showing a recent downturn but with potential support levels that could catalyze a reversal.

Notable trends in the recent 10 days include an increase in volume for select equities like MARA, hinting at possible bullish sentiment. Conversely, a noticeable dip in volume might affect stocks such as ESLT and VRSK due to reduced market participation.

Ticker Performance Prediction

The following tickers indicate potential for upward movement over the coming 2-3 days:
– MCK, TGTX, and CRL: These stocks have been displaying bullish signals, supported by recent volume surges and positive price action, indicating buyer interest.

Individual Stock Analysis

  1. McKesson Corporation (MCK)
    • Support Levels: 644, 648, 650
    • Resistance Levels: 652, 655, 660
    • Price Action Prediction (Next 2-3 Days): Expected to test resistance around 652 with bullish momentum supported by volume. Potential swing targets include 660 based on daily ATR.
    • Entry Point: Consider near 648, where demand might support a rebound.
    • Stop-Loss Level: Near 644 to protect against unexpected downturns.
    • finviz dynamic chart for MCK
  2. TG Therapeutics, Inc. (TGTX)
    • Support Levels: 37.7, 38, 38.4
    • Resistance Levels: 38.6, 38.8, 39
    • Price Action Prediction (Next 2-3 Days): Anticipated to rally towards 38.8, potentially reaching 39 with increased participation.
    • Entry Point: Around 38 to capture upside momentum.
    • Stop-Loss Level: Set below 37.7 to manage risk.
    • finviz dynamic chart for TGTX
  3. Charles River Laboratories (CRL)
    • Support Levels: 175.9, 176.1, 176.3
    • Resistance Levels: 176.7, 177.2, 178
    • Price Action Prediction (Next 2-3 Days): Likely target 177.2 on continued momentum with swing targets near 178.
    • Entry Point: Suggest around 176 for optimal gains.
    • Stop-Loss Level: Limit exposure with stop below 175.9.
    • finviz dynamic chart for CRL

Investors should remain vigilant and closely monitor these support and resistance levels for potential price action, while volume changes could provide early clues for market movements.