Overall Sector and Industry Analysis:
Date Range Analyzed: June 19, 2024 – July 19, 2024 (EST)
The major indices have shown signs of resilience over the past 30 days, with the overall market exhibiting consolidated movements interspersed with sector-specific actions. The Technology and Healthcare sectors exhibited some robust momentum in both price and volume, while sectors such as Energy and Financials had mixed performances, largely influenced by external economic reports and geopolitical factors.
Notable Trends:
1. Technology (e.g., ACN, AIOT, AEHR): Increased bullish activity with significant volume spikes indicating strong institutional interest.
2. Healthcare (e.g., RMD, J): Stable upward trends, supported by consistent volume.
3. Financials (e.g., PNC, COF, FERG): Mixed signals with some breakout potentials observed in select stocks.
Highlighted Tickers:
– ACN (Accenture PLC)
– AIOT (Arlo Technologies Inc)
– RMD (ResMed Inc)
– J (Jacobs Engineering Group)
Ticker Performance Prediction:
Likely Movers:
1. ACN: Strong uptrend with consistent volume.
2. RMD: Positive price action backed by high volumes.
3. AIOT: Noticeable volume increase, indicating potential breakout.
4. J: Consistent uptrend supported by solid fundamental news.
Strong Bullish Signals:
– ACN (Accenture PLC)
– RMD (ResMed Inc)
– AIOT (Arlo Technologies Inc)
Individual Stock Analysis:
ACN (Accenture PLC)
Support Levels:
1. $329.17
2. $328.87
3. $328.54
Resistance Levels:
1. $330.08
2. $330.46
3. $331.00
Price Target Analysis (1-3 days):
– Target 1: $330.46
– Target 2: $331.00
– Target 3: $332.00 (based on ATR movement)
Entry Point: Near $328.54
Stop-loss Recommendation: Near $328.00
Finviz Chart:
RMD (ResMed Inc)
Support Levels:
1. $204.29
2. $203.46
3. $203.34
Resistance Levels:
1. $204.62
2. $204.79
3. $205.26
Price Target Analysis (1-3 days):
– Target 1: $204.62
– Target 2: $204.79
– Target 3: $205.26 (based on ATR movement)
Entry Point: Near $203.34
Stop-loss Recommendation: Near $203.00
Finviz Chart:
AIOT (Arlo Technologies Inc)
Support Levels:
1. $4.93
2. $4.88
3. $4.85
Resistance Levels:
1. $5.10
2. $5.07
3. $5.04
Price Target Analysis (1-3 days):
– Target 1: $5.10
– Target 2: $5.15
– Target 3: $5.20 (based on ATR movement)
Entry Point: Near $4.85
Stop-loss Recommendation: Near $4.80
Finviz Chart:
J (Jacobs Engineering Group)
Support Levels:
1. $147.08
2. $147.25
3. $147.43
Resistance Levels:
1. $147.84
2. $147.51
3. $147.57
Price Target Analysis (1-3 days):
– Target 1: $147.84
– Target 2: $148.00
– Target 3: $148.50 (based on ATR movement)
Entry Point: Near $147.25
Stop-loss Recommendation: Near $146.80
Finviz Chart:
Conclusion:
The momentum in Tech and Healthcare sectors indicates a robust bullish sentiment, with tickers like ACN, AIOT, RMD, and J showcasing strong performances bolstered by high trading volumes. These stocks are expected to continue their upward trends in the short term, providing viable trading opportunities with defined entry and exit points for swing traders. Always ensure to place stop-losses to mitigate risks efficiently.