Continuation Breakout Friday 12PM 6/07/2024

Overall Sector and Industry Analysis

Date/Time Range Analyzed (EST): 2024-05-08 to 2024-06-07

In the analysis of the past 30 days of trading data across various sectors, several patterns and trends emerged:

1. Technology Sector: Demonstrated strong performance, particularly with tickers like LLY and ROP. Volume has been consistently high, indicating vigorous market interest and potential for continued bullish momentum in the short term.

2. Healthcare Sector: Stocks like LLY have shown robust volatility and substantial upward movement, suggesting strong institutional support. The significant advances in medical technology and services are pushing the healthcare stocks higher.

3. Consumer Discretionary: Stocks like NEXT and BBY have had mixed performance; however, significant volume spikes in recent sessions suggest potential bullish momentum building up.

4. Energy Sector: Includes stocks like FSLR which experienced significant volatility. While the long-term trend remains up, short-term fluctuations could be exploited for swing trades.

Ticker Performance Prediction

Based on the technical analysis of the recent 10-day price and volume developments:

• Likely to Go Up in the Next 2-3 Days:
  • LLY: Exhibiting strong bullish signals with high volume and rising prices.
  • ROP: Recent price-bars indicate potential for upward movement.
  • NGNE: Consumer health and energy stock with short-term bullish momentum.
  • MSI: Consistent uptrend in both price and volume.

Individual Stock Analysis

LLY

• Support Levels:
  1. $849.00
  2. $846.50
  3. $842.90
• Resistance Levels:
  1. $856.00
  2. $859.20
  3. $864.00

Price Action Predictions:
Based on the 30-minute chart, LLY is expected to test the $856.00 resistance level in the next 2-3 trading days with potential for further breakout towards $859.20.

• Entry Point: Near key support level, ideally at $847.00.
• Stop-Loss: Should be set just below the recent low at $842.00.
• Price Targets for 1-3 Day Swing:
  1. $856.00 (Near resistance)
  2. $859.20 (Daily ADR movement)
  3. $864.00 (Extended target)

WordPress shortcode:

ROP

• Support Levels:
  1. $556.00
  2. $553.90
  3. $550.00
• Resistance Levels:
  1. $558.50
  2. $562.00
  3. $565.40

Price Action Predictions:
ROP shows potential to breach the $558.50 resistance in the coming 2-3 days.

• Entry Point: Near $554.00 support level.
• Stop-Loss: Should be placed just below $553.00.
• Price Targets for 1-3 Day Swing:
  1. $558.50
  2. $562.00
  3. $565.40

WordPress shortcode:

NGNE

• Support Levels:
  1. $37.00
  2. $36.50
  3. $36.00
• Resistance Levels:
  1. $37.80
  2. $38.50
  3. $39.00

Price Action Predictions:
NGNE is likely to test the $37.80 resistance zone soon, with potential to reach $38.50 based on historical volume trends.

• Entry Point: Around the $36.80 support level.
• Stop-Loss: Appropriate stop-loss at $36.40.
• Price Targets for 1-3 Day Swing:
  1. $37.80
  2. $38.50
  3. $39.00

WordPress shortcode:

MSI

• Support Levels:
  1. $372.40
  2. $371.80
  3. $370.70
• Resistance Levels:
  1. $374.00
  2. $375.50
  3. $376.80

Price Action Predictions:
MSI could reach the $374.00 resistance in the very near term, extendable to $375.50.

• Entry Point: Near $372.00 support level.
• Stop-Loss: Recommended at $371.00.
• Price Targets for 1-3 Day Swing:
  1. $374.00
  2. $375.50
  3. $376.80

WordPress shortcode:

By carefully monitoring the aforementioned support and resistance levels, you can optimize your entry and exit points for potential gains in the next few trading days.