Ants Breakout Monday 7/08/2024

by | Jul 8, 2024 | Swing Idea | 0 comments

Overall Sector and Industry Analysis

Date Range Analyzed: June 8, 2024 to July 8, 2024 (EST)

Sector Performance:

In analyzing the selected stocks over the past 30 days, there are noticeable trends in different sectors:

  1. Technology (INTU, MSFT, MA, META, CDNS, AAPL, SNOW, ADBE, HUBB, MPWR)
    • Trend: Steady uptrend with occasional pullbacks.
    • Volume: Consistent volume increases on bullish days, indicating strong buyer interest.
  2. Healthcare (UNH)
    • Trend: Gradual uptrend with significant resistance at yearly highs.
    • Volume: Volume spikes correspond with attempts to break resistance levels.
  3. Consumer Discretionary (COST, TSLA)
    • Trend: Mixed signals but generally positive, with clear momentum periods.
    • Volume: High trading volume, particularly during price surges.
  4. Financials (JPM, ESGR, EVR, MCO)
    • Trend: Mild uptrend, with resistance faced around key psychological levels.
    • Volume: Moderate to high volumes, especially around earnings releases.
  5. Utilities and Industrials (TT)
    • Trend: Hovering around resistance zones without clear breakouts.
    • Volume: Low to moderate volume, indicating lack of strong driver/news.

Recent 10-Day Developments:

In the recent 10 trading days, several stocks have shown notable price and volume movements:

  • META: Displayed strong bullish behavior with significant volume spikes.
  • MSFT: Maintaining a steady uptrend with healthy pullbacks.
  • TSLA: Volatility increased with volumes surging on market-positive news.

Ticker Performance Prediction

Likely to Go Up Next 2-3 Days:

  1. META
    • Reason: Strong bullish signals and volume support.
  2. MSFT
    • Reason: Consistent uptrend and technical indicators showing bullishness.
  3. TSLA
    • Reason: Recent pullbacks seem to be setting up for another uptrend.

Individual Stock Analysis

META

Support and Resistance Levels:

  • Support: 527.50, 528.00, 528.55
  • Resistance: 530.60, 529.90, 529.670

Price Action Predictions:

  • 30-Minute Chart: Expect steady movement, potential short pullbacks.
  • Targets: Near-term targets at 530.60 and 531.00 based on daily ATR.
  • Entry Points: Around 528.50 for a good entry considering recent price action.
  • Stop-Loss: Below 527.50 to minimize downside risk.
finviz dynamic chart for META

MSFT

Support and Resistance Levels:

  • Support: 465.00, 465.16, 464.86
  • Resistance: 465.73, 466.00, 465.90

Price Action Predictions:

  • 30-Minute Chart: Expected to come close to resistance before any significant pullback.
  • Targets: Initial target at 466.00, followed by 466.50.
  • Entry Points: Optimal entry around 465.00.
  • Stop-Loss: Protective stop below 464.80.
finviz dynamic chart for MSFT

TSLA

Support and Resistance Levels:

  • Support: 251.00, 251.79, 252.07
  • Resistance: 252.43, 253.30, 253.56

Price Action Predictions:

  • 30-Minute Chart: Has the potential for upward movement given recent trends.
  • Targets: Short-term target around 253.30 and potentially higher.
  • Entry Points: Consider entries around 251.90.
  • Stop-Loss: Below 251.00 for managing risks.
finviz dynamic chart for TSLA

Conclusion

The analysis of the stocks over the last 30 days shows various sectors with bullish tendencies, particularly robust in the Technology and Consumer Discretionary sectors. META, MSFT, and TSLA exhibit strong bullish signals for the upcoming days. Traders should consider the discussed support and resistance levels, entry points, and stop-loss placements for planned trades.

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