Overall Sector and Industry Analysis:
Period Analyzed: From 2024-05-14 to 2024-06-14 (in Eastern Standard Time)
In the last 30 days, we have seen varied performance across sectors, with some clearly standing out while others face turbulence. The recent 10 days provide more precise indications suitable for short-term momentum trading.
Technology Sector:
– Stocks: NFLX, MSI, NOW, NVDX
– Trend: The technology sector remains strong, with notable bullish momentum observed in NFLX (Netflix) and NVDX (NVIDIA) over the last 10 days. Increased volume and closing prices around highs suggest persistent buying interest.
Healthcare Sector:
– Stocks: LENZ, JLL, VRSK, GWW, CTAS, REGN, VRAX, BDX, ISRG
– Trend: Mixed signals were observed within the healthcare sector. REGN (Regeneron Pharmaceuticals) and BDX (Becton Dickinson) showed bullish patterns with increasing volumes and positive price action.
Consumer Discretionary Sector:
– Stocks: COE, BIRK, COST, RAPP
– Trend: COST (Costco) displayed strong resilience and bullish price movement, establishing higher highs over the recent trading sessions.
Financial Sector:
– Stocks: BROG, NVDL, SPY
– Trend: SPY (S&P 500 ETF) mimicked overall market trends, gradually rising with stabilized volume, indicating steady investor confidence.
Ticker Performance Prediction:
Here are stocks likely to show upward movement based on recent technical indicators and volumes:
- NFLX (Netflix): Strong bullish signals with consistent price increase and high trade volumes.
- NVDX (NVIDIA): Increased buying interest as suggested by higher volumes and price close to daily highs.
- REGN (Regeneron Pharmaceuticals): Positive momentum supported by robust volume and price action near highs.
- COST (Costco): Steady bullish trend with volumes backing recent price gains.
Individual Stock Analysis:
NFLX (Netflix)
- Support Levels: $662.00, $670.00, $675.00
- Resistance Levels: $683.00, $690.00, $695.00
- Price Action Prediction (1-3 days): Expect NFLX to consolidate near $675.00 before attempting to test the $683.00 resistance. If volumes sustain, a move towards $690.00-$695.00 is likely.
- Entry Point: Near $670.00
- Stop-Loss Level: Below $662.00
- Multiple Price Targets: $683.00, $690.00, and $695.00
- Chart:
NVDX (NVIDIA)
- Support Levels: $192.00, $195.00, $197.00
- Resistance Levels: $200.00, $203.00, $205.00
- Price Action Prediction (1-3 days): Likely to test $200.00 resistance soon. Upon breaking, next immediate target is $203.00.
- Entry Point: Near $195.00
- Stop-Loss Level: Below $192.00
- Multiple Price Targets: $200.00, $203.00, and $205.00
- Chart:
REGN (Regeneron Pharmaceuticals)
- Support Levels: $1,025.00, $1,030.00, $1,035.00
- Resistance Levels: $1,045.00, $1,050.00, $1,055.00
- Price Action Prediction (1-3 days): With increasing volumes, expect a push towards $1,045.00, and if broken, next targets can be $1,050.00 and $1,055.00.
- Entry Point: Near $1,035.00
- Stop-Loss Level: Below $1,025.00
- Multiple Price Targets: $1,045.00, $1,050.00, and $1,055.00
- Chart:
COST (Costco)
- Support Levels: $850.00, $852.00, $853.00
- Resistance Levels: $855.00, $857.00, $860.00
- Price Action Prediction (1-3 days): Anticipating a drive towards $855.00, with extended targets up to $860.00.
- Entry Point: Near $852.00
- Stop-Loss Level: Below $850.00
- Multiple Price Targets: $855.00, $857.00, and $860.00
- Chart:
Summary
Sector Watch
Technology and Consumer Discretionary sectors are expected to lead with favorable momentum in the coming days, especially through key stocks identified. Short-term indicators, such as volume and price action, point toward potential upward swings.
Keep monitoring market conditions closely and adjust strategies as needed based on real-time data and changing market sentiments. Happy trading!