Continuation Breakout Monday 12PM 3/10/2025

by | Mar 10, 2025 | Swing Idea

Overall Sector and Industry Analysis:

Date Range Analyzed: February 11, 2025, to March 10, 2025, EST.

Upon analyzing a diverse portfolio across sectors such as financials, healthcare, consumer goods, technology, and industrials, there are discernible variations in performance driven primarily by anticipation within market segments and broader economic signals.

Key Observations:

  1. Healthcare Sector: Stocks like ABBV and AMGN have shown consistent volume and upward price momentum, buoyed by favorable sector sentiment and investor rotation into defensive and growth-based pharmaceutical stocks.

  2. Industrials: Aerospace-related stocks such as HEI and TDG show mixed results; however, TDG’s lower volume might indicate softening momentum. Conversely, defense contractor stocks like NOC exhibit resilience with sufficient volume support, likely benefiting from defense sector demand.

  3. Financials: Notably, CB and TRV have seen robust price movements with high trade volume, suggesting investor confidence in insurance and broader financial service markets, possibly driven by interest rate movements and policy expectations.

  4. Consumer Discretionary: McDonald’s (MCK) and Sherwin Williams (SHW) display solid resistance breakouts, suggesting consumer confidence amid market uncertainties, driving up volume as investors look for staple-oriented stocks.

  5. Technology & Miscellaneous: Mixed results with mid-cap growth stocks like ASPN showing sporadic performance, potentially influenced by tech sector volatility and broader economic recovery narratives.

Ticker Performance Prediction:

Likely Bullish Performers (Next 2-3 Days):

  • ABBV and AMGN: Strong upward momentum complemented by healthy trade volumes suggest a likely continuation of their bullish trend.
  • CB: The persistent volume and price uptick indicate potential further gains.
  • MCK: Demonstrating robust price action supported by high volume and upward recovery momentum.
  • SHW: With recent breakouts above key resistance levels, it might see short-term bullish continuation.

Individual Stock Analysis:

ABBV (AbbVie Inc):

  • Support Levels: 217, 216, 215
  • Resistance Levels: 218.5, 219, 220
  • Price Action: Expectation of breaking past 219, possibly breaching 220 in the next 2-3 days.
  • Targets: Near resistance at 218.5, potential surge to 220 (within ATR).
  • Entry: Near 217 support on intraday pullback.
  • Stop-Loss: Below support at 215.
  • Chart: finviz dynamic chart for ABBV

CB (Chubb Limited):

  • Support Levels: 292, 291.5, 290
  • Resistance Levels: 294, 295, 296
  • Price Action: A continuation towards 295, potentially reaching 296 driven by recent bullish sentiment.
  • Targets: 294, 295.5
  • Entry: Establish a position above 292 on breakout.
  • Stop-Loss: Just below 290.
  • Chart: finviz dynamic chart for CB

MCK (McKesson Corporation):

  • Support Levels: 660, 658, 655
  • Resistance Levels: 663, 666, 668
  • Price Action: Anticipate testing resistance at 663 with a wider target around 666.
  • Targets: Attain 663, potential run to 666.
  • Entry: On support at 660 for potential breakout.
  • Stop-Loss: Below 655 support.
  • Chart: finviz dynamic chart for MCK

SHW (Sherwin-Williams Company):

  • Support Levels: 360, 359, 358
  • Resistance Levels: 363, 365, 366
  • Price Action: Likely to advance towards 365 resistance; watch for volume confirmation.
  • Targets: 363, push towards the next resistance at 365.
  • Entry: Position on support from 360.
  • Stop-Loss: Conservative level at 358.
  • Chart: finviz dynamic chart for SHW

In summary, these stocks have shown strong technical setups along with solid volume patterns aligning with sector performances, suggesting they are poised for further potential gains in the short-term trading window. Traders are advised to follow the proposed plans with attention to upcoming market developments and any changes in volume or broader market sentiment.