Ants Breakout Tuesday 7/23/2024

by | Jul 23, 2024 | Swing Idea | 0 comments

Overall Sector and Industry Analysis:

Date Range Analyzed: June 23, 2024 – July 23, 2024 (EST)

Sector Performance:

In the last 30 days, sectors including Technology, Financials, and Basic Materials have shown significant activity and momentum. This is evident from the trading patterns and volume data across various tickers. Notably, Technology stocks like META, COIN, and NOW have exhibited significant price movements coupled with high trading volumes, indicating strong investor interest and potential bullish momentum.

Industry Trends:

  • Technology: This sector has experienced notable volatility, with companies like META and COIN showing sharp price hikes. META, in particular, has seen substantial volume increases which typically precede upward momentum.
  • Financials: Stocks such as CBOE, NSC, and COF have shown mixed trends. Volatility in this sector appears lower compared to Technology, but select stocks like COIN have spiked in volume, indicating possible trading opportunities.
  • Basic Materials: Stocks like MUSA and DE demonstrate steady upward price movements with consistent volumes, indicating stable demand in the market.

Ticker Performance Prediction:

Based on the analysis of price and volume data in the recent 10 days:
1. META (Technology – Social Media): Strong bullish signals, anticipated price increase over the next 2-3 days.
2. COIN (Technology – Cryptocurrency): Consistent volume support and price rally suggest bullish momentum.
3. DE (Industrials – Machinery): Upward price trajectory with steady volume growth suggests potential rise.
4. MUSA (Consumer Staples – Convenience Stores): Consistent upward price trend with volume support.

Individual Stock Analysis:

META

  • Support Levels:
    1. $490
    2. $485
    3. $475
  • Resistance Levels:
    1. $493
    2. $496
    3. $500
  • Price Action Prediction (Next 2-3 Days):
    META is likely to test the $493 resistance level. If it breaks through, the next target is $496. Given the recent high volume, support at $490 could provide a good entry point.

    • Price Targets:
    • Near Term: $493
    • Mid Term: $496
    • Long Term: $500

    • Entry Point: Near $490.

    • Stop-Loss: Set at $485.

    • Finviz Chart: finviz dynamic chart for META

COIN

  • Support Levels:

    1. $258
    2. $255
    3. $250
  • Resistance Levels:
    1. $262
    2. $265
    3. $270
  • Price Action Prediction (Next 2-3 Days):
    COIN is expected to push towards the $262 resistance. Should it break this level with volume support, $265 is the next target.

    • Price Targets:
    • Near Term: $262
    • Mid Term: $265
    • Long Term: $270

    • Entry Point: Near $258.

    • Stop-Loss: Set at $255.

    • Finviz Chart: finviz dynamic chart for COIN

DE

  • Support Levels:

    1. $372
    2. $370
    3. $365
  • Resistance Levels:
    1. $374
    2. $376
    3. $380
  • Price Action Prediction (Next 2-3 Days):
    DE’s price action suggests a move towards $374. Breaking this resistance could push the stock towards $376.

    • Price Targets:
    • Near Term: $374
    • Mid Term: $376
    • Long Term: $380

    • Entry Point: Near $372.

    • Stop-Loss: Set at $370.

    • Finviz Chart: finviz dynamic chart for DE

MUSA

  • Support Levels:

    1. $512
    2. $510
    3. $505
  • Resistance Levels:
    1. $515
    2. $520
    3. $525
  • Price Action Prediction (Next 2-3 Days):
    MUSA is inclined to test the $515 resistance level. Volume uptick suggests potential to break through.

    • Price Targets:
    • Near Term: $515
    • Mid Term: $520
    • Long Term: $525

    • Entry Point: Near $512.

    • Stop-Loss: Set at $510.

    • Finviz Chart: finviz dynamic chart for MUSA

These analyses are based on historical price and volume data, recent trends, and key technical indicators. Always consider broader market conditions and news that may impact these predictions. Happy trading!

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