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Continuation Breakout Friday 12PM 7/05/2024

July 5, 2024 2 min read

Overall Sector and Industry Analysis:

Datetime Range Analyzed: June 5, 2024 – July 5, 2024, in Eastern Standard Time (EST).

Commentary on Sector and Industry Performance:

  1. Technology Sector:
    The technology sector showed mixed performance over the past month with steady volume across major tickers. META, DDOG, INTU, TEAM, and SNOW exhibited strong price movements, particularly in the last 10 days, indicating increased investor interest. META and INTU showed clear bullish momentum, while DDOG and SNOW were relatively stable, hinting at consolidation phases.

  2. Healthcare and Biotechnology:
    Stocks like PDSB, ARQT, and GOSS exhibited significant volatility. PDSB showed a notable rise in volume and price over the last few days, suggesting potential short-term upward momentum.

  3. Consumer Discretionary:
    BA and GLOB stocks demonstrated steady performance, with BA showing signs of breaking out of its recent consolidation phase. LBPH also showed increased price action volatility, indicative of strong interest and potential upward movement.

  4. Financials:
    CPAY showed consistent volume and slight upward price movement, suggesting a stable but slow growth trend.

  5. Energy and Commodities:
    KOLD exhibited significant price changes, highlighting volatility within the energy commodity inverse ETF sector.

Ticker Performance Prediction:

Likely to Go Up in the Next 2-3 Days:
1. META
2. INTU
3. PDSB

Strong Bullish Signals:
1. META: Strong bullish momentum as reflected in its volume and price increase.
2. INTU: Breaking key resistance levels consistently over the past few days.
3. PDSB: Significant volume increase with rising price action.

Individual Stock Analysis:

META:

  • Support Levels: $530, $527, $524
  • Resistance Levels: $535, $540, $545
  • Price Targets: $535, $540 (1-3 days), $545 (3-5 days)
  • Entry Point: Near $527
  • Stop-Loss: $522
  • Finviz Chart:

INTU:

  • Support Levels: $665, $661, $655
  • Resistance Levels: $672, $676, $680
  • Price Targets: $672, $676 (1-3 days), $680 (3-5 days)
  • Entry Point: Near $661
  • Stop-Loss: $655
  • Finviz Chart:

PDSB:

  • Support Levels: $3.00, $2.95, $2.90
  • Resistance Levels: $3.10, $3.15, $3.20
  • Price Targets: $3.10, $3.15 (1-3 days), $3.20 (3-5 days)
  • Entry Point: Near $2.95
  • Stop-Loss: $2.90
  • Finviz Chart:

Specific Price Action Predictions:
– META: Meta’s stock may continue its bullish climb to test recent highs at $535, subsequently targeting $540 within 2-3 days.
– INTU: Intuit is likely to push past the $672 resistance, aiming for $676 in the short term.
– PDSB: PDS Biotechnology is likely to continue its upward trend towards $3.10 and potentially $3.15 within the next 1-3 days.

In conclusion, these stocks are showing strong indicators of upward momentum based on recent price and volume data, making them prime candidates for short-term swing trading opportunities. Remember to set appropriate stop-loss levels to manage risk effectively.

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