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Continuation Breakout Friday 12PM 6/28/2024

June 28, 2024 4 min read

Overall Sector and Industry Analysis

Datetime Range Analyzed (EST):
From: 2023-06-01 to 2023-06-30

Commentary on Sector and Industry Performance:

During the analyzed period, a detailed examination of price and volume data for a variety of stocks shows some evident trends in various sectors and industries. Notably, technology, financial services, consumer discretionary, and healthcare sectors have been in focus.

Noticeable Trends or Patterns:

  1. Technology Sector:
    • NASDAQ 100 (QQQ): Heavy trading volumes and sustained price levels indicate robust investor interest. The recent trend suggests a potential consolidation phase, which often precedes breakout moves.
    • ASML Holding (ASML): Despite some mid-month declines, resilient closing prices on higher volumes indicate ongoing institutional buying.
    • Synopsys (SNPS) and Skyworks Solutions (SWKS): Both stocks are showing upward momentum with increased volume, implying potential bullish moves in the near term.
  2. Financial Services Sector:
    • Ameriprise Financial (AMP) and BlackRock (BLK): Steady uptrends with stable volumes suggest confidence in financial stocks amidst rising interest rates.
    • Fair Isaac Corporation (FICO): Breakout from recent highs with rising volume signals strong bullish sentiment.
  3. Consumer Discretionary Sector:
    • AutoZone (AZO) and O’Reilly Automotive (ORLY): Both stocks are demonstrating strong bullish patterns supported by high volume trading.
  4. Healthcare Sector:
    • United Therapeutics (UTHR): Momentum building with consistent high trading volumes, indicating institutional buying.
    • Netflix (NFLX): Price consolidation at higher volume levels is generally seen as a precursor to upward price movements.

Based on the recent performance and behaviors observed in the past 10 days, specific tickers are showing strong bullish signals and could be promising for momentum swing trading.

Ticker Performance Prediction

Tickers Likely to Go Up in the Next 2-3 Days:
ASML Holding (ASML)
Synopsys (SNPS)
Skyworks Solutions (SWKS)
Ameriprise Financial (AMP)
BlackRock (BLK)
Fair Isaac Corporation (FICO)
AutoZone (AZO)
O’Reilly Automotive (ORLY)
United Therapeutics (UTHR)
Netflix (NFLX)

Individual Stock Analysis

ASML Holding (ASML) finviz dynamic chart for  ASML

Key Support Levels:
1. $1030.00
2. $1020.00
3. $1000.00

Key Resistance Levels:
1. $1050.00
2. $1065.00
3. $1080.00

Price Action Predictions:
Entry Point: Look for entry near $1030.00 support level.
Near Targets: $1050.00, $1065.00, $1080.00.
Stop-Loss: Set stop-loss at $1000.00.

Based on the 30-minute chart, ASML is poised to move upwards provided it sustains above the $1030.00 support range.

Synopsys (SNPS) finviz dynamic chart for  SNPS

Key Support Levels:
1. $600.00
2. $590.00
3. $580.00

Key Resistance Levels:
1. $610.00
2. $620.00
3. $630.00

Price Action Predictions:
Entry Point: Consider entry near $600.00 support.
Near Targets: $610.00, $620.00, and ultimately $630.00.
Stop-Loss: Place a stop-loss at $580.00.

Skyworks Solutions (SWKS) finviz dynamic chart for  SWKS

Key Support Levels:
1. $106.00
2. $104.00
3. $102.00

Key Resistance Levels:
1. $108.00
2. $110.00
3. $112.00

Price Action Predictions:
Entry Point: Enter near the $106.00 support level.
Near Targets: Aim for $108.00, $110.00, and up to $112.00.
Stop-Loss: Place a stop-loss at $102.00.

Ameriprise Financial (AMP) finviz dynamic chart for  AMP

Key Support Levels:
1. $430.00
2. $425.00
3. $420.00

Key Resistance Levels:
1. $435.00
2. $440.00
3. $450.00

Price Action Predictions:
Entry Point: Look to enter around $430.00.
Near Targets: $435.00, $440.00, and $450.00.
Stop-Loss: Set stop-loss at $420.00.

BlackRock (BLK) finviz dynamic chart for  BLK

Key Support Levels:
1. $786.00
2. $780.00
3. $770.00

Key Resistance Levels:
1. $794.00
2. $800.00
3. $810.00

Price Action Predictions:
Entry Point: Entry near $786.00 support.
Near Targets: $794.00, $800.00, $810.00.
Stop-Loss: Place stop-loss at $770.00.

Fair Isaac Corporation (FICO) finviz dynamic chart for  FICO

Key Support Levels:
1. $1490.00
2. $1480.00
3. $1470.00

Key Resistance Levels:
1. $1510.00
2. $1530.00
3. $1550.00

Price Action Predictions:
Entry Point: Enter near $1490.00.
Near Targets: $1510.00, $1530.00, $1550.00.
Stop-Loss: Place stop-loss at $1470.00.

AutoZone (AZO) finviz dynamic chart for  AZO

Key Support Levels:
1. $2960.00
2. $2940.00
3. $2920.00

Key Resistance Levels:
1. $2990.00
2. $3000.00
3. $3020.00

Price Action Predictions:
Entry Point: Look for entry around $2960.00.
Near Targets: $2990.00, $3000.00, $3020.00.
Stop-Loss: Place stop-loss at $2920.00.

O’Reilly Automotive (ORLY) finviz dynamic chart for  ORLY

Key Support Levels:
1. $1060.00
2. $1050.00
3. $1040.00

Key Resistance Levels:
1. $1080.00
2. $1090.00
3. $1100.00

Price Action Predictions:
Entry Point: Enter around the $1060.00 level.
Near Targets: $1080.00, $1090.00, $1100.00.
Stop-Loss: Set stop-loss at $1040.00.

United Therapeutics (UTHR) finviz dynamic chart for  UTHR

Key Support Levels:
1. $320.00
2. $315.00
3. $310.00

Key Resistance Levels:
1. $325.00
2. $330.00
3. $335.00

Price Action Predictions:
Entry Point: Entry near $320.00 support level.
Near Targets: $325.00, $330.00, $335.00.
Stop-Loss: Set stop-loss at $310.00.

Netflix (NFLX) finviz dynamic chart for  NFLX

Key Support Levels:
1. $680.00
2. $675.00
3. $670.00

Key Resistance Levels:
1. $685.00
2. $690.00
3. $700.00

Price Action Predictions:
Entry Point: Look for entry near $680.00.
Near Targets: $685.00, $690.00, $700.00.
Stop-Loss: Place stop-loss at $670.00.

This nuanced analysis, paired with strategic entry points, multiple price targets, and calculated stop-loss placements, aims to maximize potential gains while managing risks effectively in the short-term trading span of 1-5 days.

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