Continuation Breakout Friday 4PM 9/13/2024

Overall Sector and Industry Analysis:

Datetime Range Analyzed: August 13, 2024 – September 13, 2024 (Eastern Standard Time – EST)

Market Overview:

The analyzed stocks belong to diverse sectors such as Technology, Healthcare, Energy, Consumer Discretionary, and Financials. Across these sectors, the major trends observed include a significant momentum gain in the Technology and Healthcare sectors, while slight stagnation and sell-off pressures manifest in Energy and Financial sectors.

Notable Sector Trends:

1. Technology Sector:
   • INTU, MSTR, PODD, and FYBR stocks indicate strong trading volumes and price upswings.
   • Momentum is sustained by earnings reports and innovative product launches.
2. Healthcare Sector:
   • TARS, BNTX, and HCWB show bullish trends with rising trading volumes and climbing prices.
   • This momentum is supported by positive trial data and favorable regulatory updates.
3. Energy Sector:
   • BYSI and IREN exhibit mixed trends, with reduced momentum signifying cautious investor sentiment despite elevated volumes.
4. Consumer Discretionary:
   • UNH and HD have shown increased trading activity with marginal price advances, signaling potential recovery in discretionary spending.
5. Financials:
   • Specific stocks like FDS and SAIA exhibit volume spikes, though the price momentum remains limited, indicating cautious market optimism.

Ticker Performance Prediction:

Based on the analysis of the past 5-10 trading days, the following tickers show promising bullish signals:

1. TARS (Tarsus Pharmaceuticals):
   • Sustained price growth with increasing volume points toward a continued uptrend.
2. BNTX (BioNTech):
   • Significant volume surges and closing at higher levels suggest bullish sentiment.
3. INTU (Intuit):
   • Demonstrated steady growth combined with rising volumes over the last week.

Individual Stock Analysis:

TARS:

1. Support Levels:
   • $32.30, $32.00, $31.50
2. Resistance Levels:
   • $33.50, $34.00, $34.50
3. Price Action Predictions:
   • Aim for entry near $32.30 with first target at $33.50, second at $34.00, and final target at $34.50 within the next 2-3 days.
4. Stop-Loss Recommendations:
   • Consider stop-loss near $31.50.
   

BNTX:

1. Support Levels:
   • $121.00, $120.00, $118.50
2. Resistance Levels:
   • $125.50, $127.00, $130.00
3. Price Action Predictions:
   • Ideal entry at $121.00 with target levels at $125.50 and $127.00. Expecting continued positive momentum.

4. Stop-Loss Recommendations:

   • Set stop-loss close to $118.50.
   

INTU:

1. Support Levels:
   • $655.00, $650.00, $645.00
2. Resistance Levels:
   • $660.00, $665.00, $670.00
3. Price Action Predictions:
   • Entry near $655.00 is optimal with price targets at $660.00, $665.00, and close to ATH at $670.00 within the next 1-3 days.

4. Stop-Loss Recommendations:

   • Place stop-loss around $645.00.
   

This analysis should guide momentum traders looking for short-term gains. A balance of strategic entry, target setting, and disciplined stop-loss placement is key to successful trades in these volatile markets.