Continuation Breakout Friday 4PM 7/26/2024

Overall Sector and Industry Analysis

Date Range Analyzed:

• June 26, 2024, to July 26, 2024 (30 days) – EST

Sector and Industry Performance:

1. Technology:
   • SNA, CPAY, ORIC: Displayed moderate volatility with notable volume increases in the last 10 days, suggesting potential accumulation phases. Notably, CPAY and ORIC experienced strong upward movements in price with supportive volume.
   • Key Observation: Look for momentum in high volume technology stocks in the sector, especially those displaying recent accelerated volume.
2. Healthcare:
   • UNH, MRVI, HUM: Varied performance with MRVI showing increased volatility and higher volume suggesting potential breakout. UNH and HUM had stable yet declining trends with modest volume spikes.
   • Key Observation: Watch for momentum shifts in health-sector stocks with increased trading volume, which might signal breakout or continued directional move.
3. Industrial and Manufacturing:
   • NSC, CMI, CASY: Exhibited a blend of stable trend and slight upticks in volume. NSC showed a strong price recovery in the recent period.
   • Key Observation: Look for confirmation of trend continuation supported by volume increase.
4. Financials:
   • BHRB, UNP, CRL: Significant volume spikes in BHRB and CRL in the last 10 days and overall stable trends in UNP indicate potential bullish setups.
   • Key Observation: Potential for momentum trading on financial stocks with volume-driven price movements.

Notable Trends and Patterns:

• Stocks with increased volume and corresponding upward price movements in the last 10 days suggest potential bullish breakouts.
• Certain stocks such as SERA and Oric show strong bullish candlesticks with high volume support, indicating institutional participation.
• Consistency in upward price trends with stable or increasing volume signifies potential entry points for momentum trades.

Ticker Performance Prediction:

• Likely to Go Up:
  • SERA: Strong upward momentum with supportive volume.
  • BHRB, MRVI: Increased volume and bullish price moves indicate potential for continued upward trend.
  • SNA: Recent recovery with volume uptrend might project momentum continuation.
• Strong Bullish Signals:
  • CPAY: Consistent upward movement with volume peaks.
  • CRL: Volume-driven upward price surge.
  • UNP: Strong recovery with significant trading volumes.

Individual Stock Analysis:

1. SERA

• Support Levels: $8.00, $8.20, $8.30
• Resistance Levels: $8.50, $8.60, $8.75
• Price Action Prediction (Next 2-3 Days):
  • Likely to test $8.60, may reach up to $8.75 with increased volume.
  • Potential Entry: Near $8.30 (Support Zone)
  • Stop-Loss: Around $8.00
  • Price Targets: $8.60, $8.75
  • 

2. BHRB

• Support Levels: $67.00, $67.50, $68.00
• Resistance Levels: $69.00, $69.20, $69.50
• Price Action Prediction (Next 2-3 Days):
  • Potential breakout above $69.20 towards $69.50
  • Entry: Near $68.00 (Support Zone)
  • Stop-Loss: Below $67.50
  • Targets: $69.20, $69.50
  • 

3. MRVI

• Support Levels: $8.90, $9.00, $9.10
• Resistance Levels: $9.20, $9.30, $9.40
• Price Action Prediction (Next 2-3 Days):
  • Anticipated move towards $9.30, potentially hitting $9.40 with current volume dynamics.
  • Entry: Near $9.00 (Support Zone)
  • Stop-Loss: Below $8.90
  • Targets: $9.30, $9.40
  • 

4. CPAY

• Support Levels: $290.70, $291.20, $291.70
• Resistance Levels: $292.50, $293.00, $293.50
• Price Action Prediction (Next 2-3 Days):
  • Likely to retest $292.50, aiming towards $293.00.
  • Entry: Around $291.20 (Support Zone)
  • Stop-Loss: Below $290.70
  • Targets: $292.50, $293.00
  • 

5. CRL

• Support Levels: $231.00, $231.80, $232.50
• Resistance Levels: $233.70, $234.50, $235.00
• Price Action Prediction (Next 2-3 Days):
  • Expect movement towards $233.70, potentially reaching $234.50.
  • Entry: Near $231.80 (Support Zone)
  • Stop-Loss: Below $231.00
  • Targets: $233.70, $234.50
  •