Overall Sector and Industry Analysis:
Datetime Range: December 16, 2024, 13:00-15:30 EST
The recent 30-day performance of selected stocks reveals varied momentum across different sectors, with a highlight on the past 10 days indicating emerging patterns. The healthcare and technology sectors have shown mixed signals, while utilities and consumer discretionary sectors have had more resilience recently.
- Healthcare (SEVCF, NVCR): There’s an observable consolidation in biotech stocks like NVCR, possibly preparing for a breakout. SEVCF showed a spike in midterm trading with increased volume, yet it closed with a bearish candle on December 16, suggesting caution.
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Technology (NOW, FDS): Tech stocks like NOW indicate upward momentum with higher highs and steady volume, hinting at a continuation of the trend if it can break recent resistance levels. FDS experienced fluctuations and closed near intraday lows, potentially facing short-term resistance.
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Utilities (PWR, NOC): Both stocks have shown steadiness with PWR maintaining above its moving averages and moderate increase in volumes, indicating potential further upward movement. NOC, however, appears to be range-bound with resistance at high levels.
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Consumer Discretionary (OLLI, BEEP): OLLI has seen significant volume, but a resistance near the closing price reflects a potential retracement or consolidation. BEEP is struggling within a tight range, suggesting no clear momentum direction yet.
Ticker Performance Prediction:
- NOW: Bullish continuation is likely if it maintains above $1130. Watch for a breakout above $1133 for a run higher.
- NVCR: Shows potential upside if it can hold above $32.50 with catalysts needed for breakout above $33.12.
- PWR: Consolidation at highs suggests a retest of $343 may lead to new highs on surpassing current resistance.
Individual Stock Analysis:
- NOW (ServiceNow)
- Support Levels: $1130, $1128.46, $1127
- Resistance Levels: $1133, $1135, $1137
Price Action Prediction:
- Expect a bullish move towards $1133 in the next 2-3 days if retained support at $1130 holds.
- Targets: $1133, $1135. Entry near $1130 with stop-loss at $1128.
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NVCR (Novocure)
- Support Levels: $32.50, $32, $31.70
- Resistance Levels: $33.12, $33.5, $34
Price Action Prediction:
- Anticipate a move to test $33.12 resistance. Entry point around $32.50 and stop-loss at $32.
- Targets: $33.12, possibly reaching up to $33.5.
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PWR (Quanta Services)
- Support Levels: $341.95, $342.5, $343
- Resistance Levels: $343.4, $344, $345
Price Action Prediction:
- Expect stabilization and potential testing of $343.4 resistance, with entry around $342.
- Targets: $343.4 and $344, using $341.95 as a stop-level.
Utilize stop-loss levels judiciously to manage risk across these tickers, and observe any macroeconomic news which may influence market movements.