Continuation Breakout Wednesday 4PM 3/12/2025

by | Mar 12, 2025 | Swing Idea

Overall Sector and Industry Analysis:

Datetime Range Analyzed: The analysis is based on stock price and volume data ranging from February 11, 2025, to March 12, 2025, in Eastern Standard Time (EST).

Sector and Industry Performance Commentary:

  • The recent 10-day period has emphasized noticeable activity within the technology, healthcare, and commodity-linked sectors. The stocks analyzed include EQ (Technology), CNSWF (Financial Services), RNMBY and AUTL (Biotechnology), IZM (Materials), EJH (Information Technology), VRN (Energy), and OKYO (Pharmaceuticals).

  • Noticeable Trends/Patterns:

    • Technology (EQ, EJH): A positive shift in momentum, particularly noted in EJH, given significant volume spikes indicating increased interest and potentially bullish sentiment.
    • Biotech (RNMBY, AUTL): Showing signs of consolidation with moderate volume, suggesting possible buildup before a breakout.
    • Energy (VRN): Stable price movements with a steady increase in volume, pointing to gradual bullish commitment.
    • Pharmaceuticals (OKYO): Experienced modest price increases and healthy trading volumes, suggesting underlying bullish sentiment.

Ticker Performance Prediction:

Likely to Rise:

  1. EJH – Strong bullish indicators, supported by heavy volume spikes.
  2. VRN – Steady upward momentum, backed by increasing volumes.
  3. OKYO – Notable price action toward the end of the period with supportive volume.

Bullish Signals:

  • EJH: Significant volume breakthroughs and positive price movements.
  • VRN: Consistently high volume, indicating institutional interest.
  • OKYO: Consistent closing higher during recent periods, backed by adequate volume.

Individual Stock Analysis:

  1. EJH:
    • Support Levels: 0.88, 0.90, 0.92
  • Resistance Levels: 0.96, 0.97, 0.94

  • Price Action Prediction: Likely to test 0.96 and potentially breach toward 0.97 due to previous volume spikes. Consolidation around 0.90-0.92 zone implies a possible bounce.

  • Targets:

    • 1-day: 0.94
    • 3-day: 0.96-0.97
  • Entry Point: Near 0.90

  • Stop-Loss: Below 0.88

  • Finviz Chart: finviz dynamic chart for EJH

  1. VRN:
    • Support Levels: 6.06, 6.08, 6.09

  • Resistance Levels: 6.10, 6.11, 6.13

  • Price Action Prediction: Momentum suggests a potential move towards 6.10 and 6.11; notable volume on March 12 supports this trajectory.

  • Targets:

    • 1-day: 6.10
    • 3-day: 6.11-6.13
  • Entry Point: Near 6.08

  • Stop-Loss: Below 6.06

  • Finviz Chart: finviz dynamic chart for VRN

  1. OKYO:
    • Support Levels: 1.51, 1.52, 1.53

  • Resistance Levels: 1.56, 1.58, 1.60

  • Price Action Prediction: Recent price upticks aim for 1.56; the chance of reaching 1.58 is probable as current volume trends favor bullish setups.

  • Targets:

    • 1-day: 1.56
    • 3-day: 1.58-1.60
  • Entry Point: Near 1.52

  • Stop-Loss: Below 1.51

  • Finviz Chart: finviz dynamic chart for OKYO

The above analysis provides a framework for potential short-term trades based on historical price and volume actions, catering specifically to the momentum-based swing trading strategy. Adjust positions based on evolving market conditions and changes in volume patterns.