Continuation Breakout Wednesday 4PM 1/22/2025

Overall Sector and Industry Analysis (December 21, 2024 – January 22, 2025, EST):

The recent market analysis from the data received shows distinctive shifts across various sectors. Industrials and Healthcare sectors exhibit mixed performance, with technology sector stocks like KLAC showing some consolidation.

A notable trend across high-tech firms, such as VRTX and KLAC, displays a correction phase after a bullish rally in previous months, possibly due to earnings reports or external economic factors such as regulatory changes or interest rate hikes.

Consumer cyclicals like AAON and LULU are demonstrating resilience with steady volume and minor price fluctuation, indicating potential bullish momentum building up.

The energy sector depicted by ENVA reflects a stable rise in both volume and price, potentially driven by macroeconomic factors or supply constraints.

Ticker Performance Prediction:

Based on the recent analysis of price and volume trends:

1. ENVA is likely to exhibit an upward trend in the next 2-3 days.
2. AAON and LULU are showing strong bullish signals owing to consistent uptrend support, healthy volume, and maintaining above key moving averages.

Individual Stock Analysis:

1. ENVA:
   • Support Levels:
     1. 110.80
     2. 110.92
     3. 111.02

• Resistance Levels:
  1. 111.31
  2. 111.27
  3. 111.32
• Price Action Prediction:
  Expect short-term bullish movement pushing closer to the 111.31 resistance. Volume increase could signal a breakout.

• Price Targets for Swing:

  • Near target: 111.31 (Near resistance)
  • Extended target: 111.50 (Projected move given the ATR)
• Entry Point:
  Near support at 110.92

• Stop-loss Level:
  Near 110.80 to mitigate downside risk.

• Finviz Chart:
  

1. AAON:
   • Support Levels:
     1. 135.57
     2. 136.15
     3. 136.39

• Resistance Levels:

  1. 137.90
  2. 137.64
  3. 137.22
• Price Action Prediction:
  Potential test of upper resistance levels with healthy upward volume.

• Price Targets for Swing:

  • Near target: 137.90
  • Extended target: 138.50 (Based on ATR estimation)
• Entry Point:
  Around 136.15 to capture the upside swing.

• Stop-loss Level:
  At 135.57 to avoid large downside moves.

• Finviz Chart:
  

1. LULU:
   • Support Levels:
     1. 380.53
     2. 381.22
     3. 381.620

• Resistance Levels:

  1. 383.38
  2. 382.82
  3. 383.50
• Price Action Prediction:
  Likely to move towards testing 383.38 in short-term with bullish sentiment.

• Price Targets for Swing:

  • Near target: 383.38
  • Extended target: 385.00 (Considering broader bullish market sentiment)
• Entry Point:
  Close to 381.22 providing a good risk-reward for bullish positions.

• Stop-loss Level:
  Positioned at 380.53 to limit exposure during retracements.

• Finviz Chart:
  

These insights suggest strategic entry points and potential swing targets for these stocks, keeping a close watch on volume pivots and resistance tests over the days to come.