Continuation Breakout Friday 3PM 8/02/2024

Overall Sector and Industry Analysis:

Date and Time Range Analyzed:

From July 3, 2024, to August 2, 2024, in EST.

Sector and Industry Commentary:

Upon analyzing the price and volume data for various stocks across different sectors over the past month, especially the last 10 days, several trends and patterns have emerged:

1. Tech Sector: The tech sector, represented by stocks like VIRT (Virtu Financial, Inc.), has shown moderate volume with some price fluctuations, although the sentiment remains slightly bullish in the short term.

2. Healthcare Sector: Stocks like RMD (ResMed Inc.) and PTGX (Protagonist Therapeutics Inc.) have shown mixed trends. RMD has exhibited steady volume and a slight uptrend, while PTGX has experienced a slight pullback but shows potential for a rebound.

3. Financial Sector: The financial stock EFX (Equifax Inc.) demonstrated significant intraday volatility with an overall upward trend, showing robust volume suggesting institutional interest.

4. Consumer Discretionary Sector: Stocks like MCD (McDonald’s Corporation) and LAD (Lithia Motors Inc.) displayed strong price action coupled with high volume, suggesting interest and potential for upward movement.

5. Small Cap/BioTech Stocks: Stocks such as PSNL (Personalis, Inc.), JCSE (JE Cleantech Holdings Limited), and FNCH (Finch Therapeutics Group, Inc.) have shown significant volatility and sporadic volume, indicating potential for high-reward swing trades but also higher risk.

Noticeable Trends:

• Bulls and Momentum Plays: Stocks in the consumer discretionary sector (MCD, LAD) and financial sector (EFX) have shown considerable strength.
• Healthcare Prospects: Mixed signals in the healthcare sector indicate selective opportunities.
• Volatility in Small Caps: Small-cap and biotech stocks (PSNL, JCSE) continue to offer opportunistic trades albeit with caution due to their volatile nature.

Ticker Performance Prediction:

Stocks Likely to Go Up in the Next 2-3 Days:

• EFX (Equifax Inc.): Strong bullish trend with high volume, suggesting continued upward momentum.
• MCD (McDonald’s Corporation): Consistent upward trend in price, buoyed by strong institutional buying.

Strong Bullish Signals:

• EFX: Meeting high resistance and bullish intraday patterns.
• MCD: Steadily breaking resistance levels with significant volume.

Individual Stock Analysis:

EFX (Equifax Inc.)

• Support Levels:

  • $280
  • $278
  • $275
• Resistance Levels:
  • $285
  • $290
  • $295
• Price Action Prediction (30-Minute Chart):
  • Short-term price target: $285
  • Higher target: $290
• Entry Points:
  • Near $280, if price pulls back to this level.
• Stop-Loss Levels:
  • Below $275, considering potential dips and volatility.
• Finviz Chart:
  • 

MCD (McDonald’s Corporation)

• Support Levels:
  • $273
  • $270
  • $268
• Resistance Levels:
  • $275
  • $278
  • $280
• Price Action Prediction (30-Minute Chart):
  • Short-term price target: $275
  • Higher target: $278
• Entry Points:
  • Near $273, providing a good risk-reward ratio.
• Stop-Loss Levels:
  • Below $270 to guard against deeper pullbacks.
• Finviz Chart:
  • 

Summary:

The focus remains on consumer discretionary and financial sectors, particularly with stocks like EFX and MCD showing strong potential for upward movement in the short term. Traders should consider entry points around key support levels and maintain strict stop-losses to manage risk. Keep an eye on the general market sentiment and sector-specific news that could impact these stocks.