Continuation Breakout Friday 4PM 6/07/2024

Overall Sector and Industry Analysis:

DateTime Range: May 9, 2024 – June 7, 2024 (EST)

In analyzing the sector and industry performance over the past 30 days, there have been variations in terms of price movements and trading volumes across different sectors.

1. Healthcare Sector (LLY, HCA)
   • The healthcare sector has shown mixed signals. Notably, Lilly (LLY) and HCA Healthcare (HCA) saw fluctuations in price with relatively consistent trading volumes. HCA’s volume spikes suggest potential institutional interest.
2. Technology Sector (VRSK, SSTI, ADBE)
   • The tech sector has been relatively stable. Verisk Analytics (VRSK) and Adobe (ADBE) have shown steady price increases, while ShotSpotter (SSTI) indicated a modest uptrend with lower trading volumes suggesting cautious interest from investors.
3. Energy Sector (NEXT)
   • The energy sector, represented by NextDecade (NEXT), demonstrated strong upward momentum with significant volume increases, especially in recent days, signaling potential bullish trends.
4. Consumer Discretionary (AZO, COE)
   • The consumer discretionary sector had mixed indications. AutoZone (AZO) showed stable prices, whereas China Online Education (COE) exhibited low trading volumes and stable prices, indicating limited investor interest.
5. Real Estate (PSA, JLL)
   • The real estate sector showed stability with modest price fluctuations. Public Storage (PSA) and Jones Lang LaSalle (JLL) had stable trading volumes, indicating that this is not a high-volatile period for these stocks.
6. Manufacturing (WIRE, THAR)
   • The manufacturing sector with Encore Wire (WIRE) and Thermon Group (THAR) were stable with modest price increases. Volume remained low, suggesting a lack of significant immediate interest.
7. Utilities (CNSWF)
   • Chinook Energy (CNSWF) remained relatively unchanged, showing low volumes and stable prices.
8. Communications (MSI)
   • Motorola Solutions (MSI) showed slight downward movements along with increasing trading volumes, which may indicate a potential bearish sentiment.
9. Aerospace & Defense (LMT)
   • Lockheed Martin (LMT) recorded stable prices with incremental declines and fluctuating volumes, signaling potential investor caution.

Ticker Performance Prediction:

Likely to go up in the next 2-3 days:
– NEXT: Strong upward momentum and increasing volumes.
– HCA: Consistently high volumes with price stability may precede an upward movement.
– LLY: Despite fluctuations, it has strong bullish signals due to steady upward movement and volumes.
– ADBE: Consistent price and volume trends signal potential near-term gains.

Individual Stock Analysis:

NextDecade (NEXT)

1. Support Levels:
   • $7.68
   • $7.60
   • $7.50
2. Resistance Levels:
   • $7.80
   • $7.90
   • $8.00

Price Target Predictions:
– Short-term: Likely to reach $7.80-$7.90 based on volume and price trends.
– 1-3 Days Swing Targets:
– Near-term: $7.90
– High: $8.00

Entry Point:
– Around $7.68-$7.70 for an optimal risk-reward ratio.

Stop Loss:
– Near $7.50 to mitigate downside risk.

HCA Healthcare (HCA)

1. Support Levels:
   • $336.00
   • $335.00
   • $334.00
2. Resistance Levels:
   • $338.00
   • $339.00
   • $340.00

Price Target Predictions:
– Short-term: $338.00-$339.00
– 1-3 Days Swing Targets:
– Near-term: $339.00
– High: $340.00

Entry Point:
– Around $336.00-$336.50

Stop Loss:
– Near $334.00

Lilly (LLY)

1. Support Levels:
   • $850.00
   • $848.00
   • $846.00
2. Resistance Levels:
   • $855.00
   • $857.00
   • $860.00

Price Target Predictions:
– Short-term: $855.00-$857.00
– 1-3 Days Swing Targets:
– Near-term: $857.00
– High: $860.00

Entry Point:
– Around $850.00-$851.00

Stop Loss:
– Near $846.00

Adobe (ADBE)

1. Support Levels:
   • $465.00
   • $463.00
   • $460.00
2. Resistance Levels:
   • $470.00
   • $472.00
   • $475.00

Price Target Predictions:
– Short-term: $470.00-$472.00
– 1-3 Days Swing Targets:
– Near-term: $472.00
– High: $475.00

Entry Point:
– Around $465.00-$466.00

Stop Loss:
– Near $460.00

By observing the sectoral and individual stock performance over the past 30 days and especially the recent 10 days, it’s apparent which stocks hold potential for short-term upward movement. Adjusting positions accordingly can help maximize gains within the 1-3 day swing trading window.