Ants Breakout Thursday 6/27/2024

by | Jun 27, 2024 | Swing Idea | 0 comments

Overall Sector and Industry Analysis:

Analyzed Datetime Range:
June 26, 2024, 18:00 EST to June 27, 2024, 15:30 EST.

Commentary on Overall Sector and Industry Performance:

Based on the provided dataset for various tickers, we observe a mixed performance across different sectors. Here are some highlights:

  1. Tech Sector (e.g., MKL, ACN, TYL):
    • Tickers like MKL and ACN showed minor fluctuations but remained relatively stable. For example, ACN slipped slightly over the day but did not show any stark trend reversal.
    • TYL shows volatility but also a recovery towards the day’s close.
  2. Biotech/Pharma (e.g., REGN, IONS, ARQT):
    • REGN experienced a downward trend throughout the day.
    • IONS and ARQT were relatively stable with minor intra-day swings.
  3. Consumer Goods/Retail (e.g., WING, CAUD, and TEAM):
    • WING exhibited a strong performance with progressive intra-day highs.
    • TEAM saw some volatility but managed to close stable.
  4. Industrials (e.g., FDX, LMT):
    • FDX had a relatively strong performance, with prices climbing progressively throughout the day.
    • LMT remained mostly stable but experienced slight intraday fluctuations.
  5. Utilities/Energy (e.g., SMR, HLP):
    • SMR showed a strong upward push towards the end of the trading day.
    • HLP had minor fluctuations but did not show a significant trend.

Notable Trends and Patterns:

  • Several stocks (e.g., CVNA, WING) showed an upward trend, indicating strong short-term bullish sentiment.
  • Stable performances in defensive sectors like utilities and consumer goods might indicate a rotation from riskier assets to safer plays.
  • The tech sector remains volatile but does not show any clear directional trend for the short term.

Ticker Performance Prediction:

Tickers Likely to Go Up in the Next 2-3 Days:

  1. WING (Wingstop Inc.):
    • Climbing steadily with increased volume.
  2. FDX (FedEx Corporation):
    • Showing progressive growth and higher close mark, suggesting bullish sentiment.
  3. CVNA (Carvana Co.):
    • Strong upward trend towards the day’s end.
  4. SMR (NuScale Power Corporation):
    • Momentum picked up towards the end of the trading day suggesting further upswing.

Strong Bullish Signals:

  • SMR: Market sentiment turned highly favorable towards the close.
  • FDX: Consistent upward pattern indicates strong bullish momentum.

Individual Stock Analysis:

Wingstop Inc. (WING):

  • Support Levels:
    • $422.00
    • $421.00
    • $419.50
  • Resistance Levels:
    • $425.75
    • $426.20
    • $427.50
  • Price Action Predictions (30-minute chart):
    • Expect prices to test and possibly break through resistance at $425.75, targeting $427.50 if bullish momentum continues.
    • Possible Entry Point: Around $422.00 (key support level).
    • Stop-Loss Level: Near $421.00.
  • Multiple Price Targets:
    • Near-term targets: $425.00, $427.50
    • Based on daily ATR movement, a cautious target range could be $425.75 – $427.50.
  • Finviz Chart:
    finviz dynamic chart for WING

FedEx Corporation (FDX):

  • Support Levels:
    • $292.00
    • $291.00
    • $290.00
  • Resistance Levels:
    • $293.85
    • $294.50
    • $295.50
  • Price Action Predictions (30-minute chart):
    • Expect prices to continue their rally, testing and breaking through $293.85 onwards to $295.50.
    • Possible Entry Point: Around $292.00.
    • Stop-Loss Level: Near $291.00.
  • Multiple Price Targets:
    • Near-term targets: $294.50, $295.50
    • Based on daily ATR movement, a cautious target range could be $293.85 – $295.50.
  • Finviz Chart:
    finviz dynamic chart for FDX

Carvana Co. (CVNA):

  • Support Levels:
    • $130.50
    • $129.60
    • $128.90
  • Resistance Levels:
    • $133.30
    • $134.00
    • $135.00
  • Price Action Predictions (30-minute chart):
    • Expect prices to test and break past $133.30 with an upside target of $135.00.
    • Possible Entry Point: Around $130.50.
    • Stop-Loss Level: Near $129.60.
  • Multiple Price Targets:
    • Near-term targets: $134.00, $135.00.
    • Based on daily ATR movement, a cautious target range could be $133.30 – $135.00.
  • Finviz Chart:
    finviz dynamic chart for CVNA

NuScale Power Corporation (SMR):

  • Support Levels:
    • $11.60
    • $11.50
    • $11.40
  • Resistance Levels:
    • $11.99
    • $12.00
    • $12.10
  • Price Action Predictions (30-minute chart):
    • Prices are likely to maintain upward momentum, testing and breaking past $12.00 with a further target towards $12.10.
    • Possible Entry Point: Around $11.60.
    • Stop-Loss Level: Near $11.50.
  • Multiple Price Targets:
    • Near-term targets: $12.00, $12.10.
    • Based on daily ATR movement, a cautious target range could be $11.99 – $12.10.
  • Finviz Chart:
    finviz dynamic chart for SMR

These predictions assume no major market events or shocks occur, and traders should remain vigilant to such factors. Always remember to use proper risk management and adjust based on real-time market behavior.

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