Continuation Breakout Friday 11AM 8/02/2024

Overall Sector and Industry Analysis:

Datetime Range Analyzed: (EST)
The analysis covers trading activities from August 1, 2024, 16:00 to August 2, 2024, 10:30.

Sector and Industry Commentary:
The tickers provided mostly belong to diverse sectors, including Technology (VRSN), Biotechnology (QDEL, BIO, PTGX), Financial Services (V, MA), Consumer Services (MCD), Healthcare (ELV, CNC, ABBV), Aerospace & Defense (LMT, RTX), and Technology Infrastructure (CHKP).

The overall trend suggests mixed performances with specific highlights:
– Healthcare stocks (ABBV, CNC) showed notable price volatility, with significant volume spikes in recent sessions.
– Financial services stocks (V, MA) showed steady performance with a gradual upward trend, suggesting investor confidence.
– Technology stocks (VRSN, CHKP) experienced moderate volatility but demonstrated resilience, reflected in relatively stable closing prices.
– The biotechnology sector exhibited a high level of activity with stocks like BIO and QDEL showing significant price movement and volume increase.
– Aerospace & Defense stocks (LMT, RTX) exhibited strong price action with significant intraday highs.
– Consumer service stocks, particularly MCD, demonstrated consistent upward momentum.

Ticker Performance Prediction:

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

1. MCD (McDonald’s Corporation):
   • Strong price action with consistent upward movement and high volume indicates probable continuation.
2. LMT (Lockheed Martin Corporation):
   • Significant price increase with volume jump suggests potential for further upside.
3. BIO (Bio-Rad Laboratories, Inc.):
   • Sharp increase in recent sessions with high volume implies strong bullish sentiment.

Stocks Showing Strong Bullish Signals:

1. MCD:
   • Upward momentum, strong volume.
2. LMT:
   • Substantial increase in price with high volume.
3. BIO:
   • High volume and price surge.

Individual Stock Analysis:

MCD (McDonald’s Corporation)

• Support Levels:
  • $273.36
  • $272.00
  • $268.80
• Resistance Levels:
  • $275.80
  • $276.00
  • $278.00
• Price Action Prediction:
  Expect MCD to continue its upward movement, targeting $276 and $278. Entry near $272 with target around $278 in 2-3 days.
• Specific Recommendations:
  • Entry Point: $272.00
  • Price Target: $276.00, $278.00
  • Stop-Loss: $268.80
  • 

LMT (Lockheed Martin Corporation)

• Support Levels:
  • $552.95
  • $550.56
  • $546.27
• Resistance Levels:
  • $559.10
  • $562.00
  • $565.00
• Price Action Prediction:
  Further gains expected, immediate targets $562 and $565. Entry near $552 with short-term target of $565.
• Specific Recommendations:
  • Entry Point: $552.95
  • Price Target: $562.00, $565.00
  • Stop-Loss: $546.27
  • 

BIO (Bio-Rad Laboratories, Inc.)

• Support Levels:
  • $336.78
  • $331.02
  • $316.00
• Resistance Levels:
  • $353.09
  • $358.00
  • $362.00
• Price Action Prediction:
  Continuation of upward trend expected, targeting $358 and $362. Entry near $336 with target around $362 within 2-3 days.
• Specific Recommendations:
  • Entry Point: $336.78
  • Price Target: $358.00, $362.00
  • Stop-Loss: $331.02
  • 

Conclusion:

The stocks highlighted (MCD, LMT, BIO) show promising bullish trends with strong volume support and clear resistance breaking possibilities. These stocks provide viable short-term swing trading opportunities with carefully strategized entry and exit points to optimize gains while maintaining risk control.