Overall Sector and Industry Analysis:
Date Range Analyzed: July 20, 2024, to August 20, 2024 (EST)
Over the past 30 days, the overall market exhibited a mixed performance across various sectors:
Technology Sector:
– Key stocks in this sector like MSFT, AMAT, and NVDA showed substantial volumes and steady uptrends over the last 30 days but slight pullbacks over the last 10 days. NVDA, in particular, experienced significant volumes and higher volatility.
– For instance:
– MSFT: The stock showed a steady increase with occasional pullbacks, staying strong around $425.
– NVDA: The stock went high from $127 and faced a resistance at $128.
Healthcare Sector:
– The healthcare sector was marked by high volatility with stocks like UNH and VRTX showing increased volume and price action.
– For example:
– UNH: Consistently trading above $580, showing potential bullish momentum.
– VRTX: Showed resilience and movement recovery around the $485 mark.
Energy Sector:
– Stocks such as CVX exhibited fluctuating volume and prices, indicating less stability compared to tech and healthcare counterparts.
– Example:
– CVX: Struggled to maintain prices above $135 which acted as a strong resistance level.
Financial Sector:
– The financial sector stocks such as GS and JPM saw consistent volume with slight bullish trends.
– Notable mention:
– GS: A trading range between $499 and $500, showing a potential breakout above these levels.
Ticker Performance Prediction:
Stocks likely to go up in the next 2-3 days:
– NVDA: Strong bullish signals and recovery signs around the $127-$128 mark.
– UNH: Support levels at $580-$582, likely to move towards $585.
Individual Stock Analysis:
Ticker: NVDA
Support Levels:
1. $127.20
2. $127.77
3. $127.42
Resistance Levels:
1. $127.95
2. $128.23
3. $128.56
Price Action (Next 2-3 days):
– NVDA could potentially bounce off the support level at $127.20 and head towards the resistance level at $128.23.
– Entry Point: Around $127.20
– Price Targets: $128.23, $128.56, and possibly $129.20 based on daily ATR.
– Stop-Loss: $126.80
Finviz Chart Shortcode:
Ticker: UNH
Support Levels:
1. $580.16
2. $580.64
3. $580.90
Resistance Levels:
1. $582.52
2. $582.90
3. $584.32
Price Action (Next 2-3 days):
– UNH could see upward momentum from a support level of $580.90 towards the resistance level of $582.90.
– Entry Point: Around $580.90
– Price Targets: $582.90, $584.32, and potentially $586.00.
– Stop-Loss: $579.90
Finviz Chart Shortcode:
Ticker: MSFT
Support Levels:
1. $423.42
2. $424.08
3. $424.29
Resistance Levels:
1. $425.86
2. $426.00
3. $426.50
Price Action (Next 2-3 days):
– MSFT may attempt to break resistance at $425.86 towards $426.50.
– Entry Point: Near $423.42
– Price Targets: $425.86, $426.00, and $427.00.
– Stop-Loss: $422.90
Finviz Chart Shortcode:
Ticker: GS
Support Levels:
1. $497.72
2. $498.18
3. $498.53
Resistance Levels:
1. $499.35
2. $499.94
3. $500.00
Price Action (Next 2-3 days):
– If GS holds above $497.72, it may test $499.94 resistance and potentially head to $500.
– Entry Point: Around $498.18
– Price Targets: $499.94, $500, and $502.
– Stop-Loss: $497.18
Finviz Chart Shortcode:
The analysis above leverages recent price and volume action to project short-term movements in stocks with possible high momentum continuation. Keep an eye on critical support and resistance levels for optimal entries and targets.