Continuation Breakout Monday 11AM 9/09/2024

Overall Sector and Industry Analysis:

Datetime Range Analyzed: 2024-09-06 to 2024-09-26 (EST)

Sector & Industry Commentary:
The past 30 days have been eventful across several key sectors, with a notable focus on healthcare, technology, and defense industries. Breaking down sector performance:

1. Healthcare:
   • Ticker: PODD
     • Insulet Corporation has experienced a steady volume with minor fluctuations in price, suggesting a potential accumulation phase. The stock has shown resilience within the sector.
   • Ticker: BFLY
     • Butterfly Network, Inc experienced significant volume spikes, indicating strong interest but also signaling high volatility.
2. Technology & Medical Devices:
   • Ticker: RMD
     • ResMed Inc has shown consistent trading volumes and a clear uptrend in recent days, suggesting a strong performance in the tech-driven medical device sector.
3. Defense:
   • Ticker: NOC
     • Northrop Grumman Corporation demonstrated robust performance with a clear bullish trend over the last 10 days, supported by higher volumes, reflecting overall confidence within the defense sector.
4. Emerging Tech:
   • Ticker: ASST
     • Assertio Holdings, Inc has seen volatile trading volumes and price movements, which common in emerging tech sectors, signaling both opportunities and risks.

Notable Trends and Patterns:
– Increased volatility in healthcare-related stocks like BFLY and PODD, likely influenced by market sentiment and sector-specific news.
– Consistent bullish trends in the defense sector with NOC showing strong uptrend patterns.
– Robust volume and positive price action in medical devices, especially in RMD, indicating a potential short-term bullish return.

Ticker Performance Prediction:

Likely to Perform Well in the Next 2-3 Days:
– RMD (ResMed Inc)
– NOC (Northrop Grumman Corporation)
– PODD (Insulet Corporation)

Strong Bullish Signals:
1. NOC – Strong upward momentum with increasing volume.
2. RMD – Consistent uptrend with good volume backing.

Individual Stock Analysis:

RMD (ResMed Inc)

Support Levels:
1. $245.00
2. $243.56
3. $241.20

Resistance Levels:
1. $248.50
2. $250.75
3. $253.00

Price Action Predictions (Based on 30-Minute Chart):
– Expect a continuation of the uptrend with minor pullbacks.
– Entry Points: Near $245.00
– Targets: $248.50, $250.75, $253.00
– Stop-Loss: Below $243.50

Finviz Chart:

NOC (Northrop Grumman Corporation)

Support Levels:
1. $521.25
2. $518.75
3. $517.00

Resistance Levels:
1. $525.00
2. $528.50
3. $530.75

Price Action Predictions (Based on 30-Minute Chart):
– Anticipate strong continuation of the bullish trend.
– Entry Points: Near $521.25
– Targets: $525.00, $528.50, $530.75
– Stop-Loss: Below $518.00

Finviz Chart:

PODD (Insulet Corporation)

Support Levels:
1. $214.17
2. $212.50
3. $210.00

Resistance Levels:
1. $220.00
2. $222.00
3. $224.50

Price Action Predictions (Based on 30-Minute Chart):
– Likely to see a short-term rise buoyed by recent volume increases.
– Entry Points: Near $214.17
– Targets: $220.00, $222.00, $224.50
– Stop-Loss: Below $212.00

Finviz Chart:

These analyses indicate that RMD, NOC, and PODD are well-poised to carry forward their respective bullish trends over the next few days, backed by strong price volume dynamics and sector performance.