Continuation Breakout Monday 11AM 10/14/2024

Overall Sector and Industry Analysis:

Datetime Range Analyzed: September 15, 2024 – October 14, 2024 (EST)

Over the past 30 days, the market has shown certain divergence between sectors, with specific interest in technology, finance, and real estate having mixed movements. A detailed breakdown reveals the following observations:

• Technology Sector:
  • Stocks like ASML and APP have shown consistent uptrend patterns, with increasing volume in recent sessions indicating strong investor interest.
  • ASML () specifically broke past significant resistance over the last week and maintained higher-than-average volume, signaling sustained momentum.
• Financial Sector:
  • ACN and MKTX have showcased moderate upswings, though with lesser conviction compared to tech stocks. Despite an upward climb, the volumes have been mixed, with ACN () seeing larger volumes indicative of accumulation.
• Industrial & Real Estate:
  • Stocks such as NVR () have struggled to maintain consistent gains with volatility. Meanwhile, BNR () has had fluctuating volumes and prices, reflecting uncertain sentiment in the short term.
• Telecommunications:
  • LU () has experienced increased trading activity with significant price reforms, hinting at potential bottoming patterns which could attract swing trades.

Ticker Performance Prediction:

For short-term momentum over the next 2-3 days, ASML, APP, and LU are positioned well for upward performance, primarily due to recent bullish candlestick formations and sustained high trading volumes.

• ASML: Recent gap-ups above resistance levels with strong volume suggest continuation of a bullish run.
• APP: Consistent price increases with robust volume signal potential for further short-term gains.
• LU: Trend reversal signs with significant volumes could imply a bullish breakout.

Individual Stock Analysis:

ASML ():

• Support Levels:
  • $848, $850, $860
• Resistance Levels:
  • $870, $875, $885
• Price Action Prediction:
  • Expect potential gap fills and rally towards $870-$880 levels. Watch for a pullback near $860 as an entry opportunity.
• Price Targets (1-3 Day Swing):
  • Initial target at $870, followed by $880 based on recent ATR movement.
• Entry Points:
  • Consider entering near $860 with a gradual accumulation.
• Stop-Loss Levels:
  • Place stop-loss below $848 to cap potential downsides.

APP ():

• Support Levels:
  • $145, $146, $147
• Resistance Levels:
  • $148.50, $150, $152
• Price Action Prediction:
  • Continued upward momentum expected, possibly breaking $148.50, with an advance toward $150.
• Price Targets (1-3 Day Swing):
  • First target at $150 and next at $152, contingent upon volume sustenance.
• Entry Points:
  • Look to enter near the $146-$147 range.
• Stop-Loss Levels:
  • A stop-loss near $145 could be effective for risk management.

LU ():

• Support Levels:
  • $3.26, $3.30, $3.40
• Resistance Levels:
  • $3.55, $3.60, $3.65
• Price Action Prediction:
  • Anticipate a breakout above $3.50, with potential to test $3.60 and above.
• Price Targets (1-3 Day Swing):
  • Targets set at $3.55 initially, then $3.60.
• Entry Points:
  • Potential entry near $3.40 support level.
• Stop-Loss Levels:
  • Suggested stop-loss under $3.26 to mitigate loss exposure.

These analyses are based on recent performance metrics and technical patterns, with emphasis on recent volume as a KPI for swing trade consideration. As always, these are speculative assessments and should be hedged accordingly against market volatility.