Overall Sector and Industry Analysis
Datetime Range Analyzed: June 12, 2024 – July 12, 2024 (EST)
Commentary on Sector and Industry Performance:
Over the past 30 days, we’ve observed varied performances across different sectors. The technology sector demonstrated significant volatility with strong upward movement, notably in stocks like AMD and ANET, reflecting positive sentiment and heavy volumes. Pharmaceuticals showed mixed performance, where LLY remained stable with limited price swings. Energy and Industrial sectors like SMCI and AMR experienced steady growth, evident from consistent closing highs. A noticeable trend is the strong volume driving the upward price movements in technology and certain pharmaceuticals, signaling increasing investor interest in growth stories and innovation-driven sectors.
Ticker Performance Prediction
Tickers Likely to Go Up in the Next 2-3 Days:
1. AMD
2. ANET
3. IOT
4. ZS
Highlighting Strong Bullish Signals:
– AMD: Shows strong bullish signals with higher highs and increasing volume.
– ANET: Has consistent higher lows and demonstrates resilience and buying interest.
– IOT: Sustains an upward trend with rising volumes.
– ZS: Consolidating near highs, indicating a potential breakout.
Individual Stock Analysis
1. AMD
– Support Levels: $184.00, $183.00, $182.00
– Resistance Levels: $186.50, $187.50, $189.00
– Price Action Prediction (30-Min Chart): Expect potential rally towards $187 over the next 2 days if it breaks $186.50 with support at $184.00.
– Swing Price Targets: $187.50 (Day 1), $189.00 (Day 2)
– Entry Points: Near $183.50
– Stop-Loss: Below $182.50
– Finviz Chart:
2. ANET
– Support Levels: $363.00, $361.50, $360.00
– Resistance Levels: $365.50, $367.00, $369.00
– Price Action Prediction (30-Min Chart): Anticipate a push towards $365.50, sustaining gains near upper resistance.
– Swing Price Targets: $367.00 (Day 1), $369.00 (Day 2)
– Entry Points: Near $362.00
– Stop-Loss: Below $360.50
– Finviz Chart:
3. IOT
– Support Levels: $37.00, $36.60, $36.30
– Resistance Levels: $37.50, $37.80, $38.00
– Price Action Prediction (30-Min Chart): Likely to test $37.50 and continue upward if volume supports it.
– Swing Price Targets: $37.80 (Day 1), $38.00 (Day 2)
– Entry Points: Near $36.80
– Stop-Loss: Below $36.20
– Finviz Chart:
4. ZS
– Support Levels: $201.00, $200.00, $199.00
– Resistance Levels: $202.70, $203.50, $204.50
– Price Action Prediction (30-Min Chart): Eyeing breakout towards $202.70 with potential further gains.
– Swing Price Targets: $203.50 (Day 1), $204.50 (Day 2)
– Entry Points: Near $200.50
– Stop-Loss: Below $199.50
– Finviz Chart:
Each of these stocks has shown significant momentum with adequate volume support, which increases their likelihood of continuing the upward trend in the short term. For each identified stock, the support and resistance levels, along with expected price movements and strategy, cater to a 1-3 day momentum swing trading approach. Ensure stop-losses are in place to manage risks effectively.