Continuation Breakout Monday 12PM 8/05/2024

Overall Sector and Industry Analysis:

Date Range:

Analyzed from 2024-07-08 to 2024-08-05 (30 trading days), with an emphasis on the recent 10 days.

Commentary on Sector and Industry Performance:

• Technology (CHKP, FTEL):
  The sector shows robust movement, especially in cybersecurity (CHKP) and telecommunications (FTEL). CHKP is experiencing a steady uptrend with consistent volume support, indicating investor confidence. FTEL has been more volatile but is trending upwards due to recent high-volume spikes, suggesting potential institutional interest.

• Healthcare (UHS, HAYW, AVXL):
  Mixed performance in healthcare, with UHS showing consistent upward momentum, supported by increasing volume. HAYW’s performance is steady but lacks the volume surge seen in UHS. AVXL’s latest performance suggests a breakout with strong volume backing.

• Consumer Discretionary (LAD, LEN):
  Automotive retail (LAD) and home construction (LEN) are showing promising short-term gains. LEN, in particular, is noteworthy for consistent closing on higher highs with substantial volume, indicating strong buyer interest.

• Financials (NYCB):
  NYCB is in a recovery phase with a gradual uptrend backed by consistent volume, indicative of a potential bullish reversal.

Noticeable Trends or Patterns:

• Bullish Trends:
  LEN, LAD, and UHS consistently closing higher with supportive volume.
• Volume Spikes:
  FTEL and AVXL experiencing sharp volume increases.

Ticker Performance Prediction:

Likely to Go Up in the Next 2-3 Days:

• LEN, UHS, AVXL, CHKP

Strong Bullish Signals:

• LEN: Consistent close above previous highs.
• UHS: Increasing volume with strong uptrend.
• AVXL: Breaking recent resistance levels with high volume.
• CHKP: Steady uptrend with supportive volume.

Individual Stock Analysis:

LEN (Lennar Corporation)

• Support Levels:

  • $166.28 (recent low)
  • $167.69 (10-day support)
  • $165.69 (near historical support)
• Resistance Levels:
  • $170.30 (recent high)
  • $171.26 (monitored resistance)
  • $175.00 (long-term resistance)
• Price Action Prediction (30-minute chart):
  • Targets: $170.78, $172.50, $175.00
  • Entry Points: Around $167.69 and $166.28
  • Stop-Loss: Below $165.69
• Chart:
  

UHS (Universal Health Services)

• Support Levels:

  • $206.99 (recent low)
  • $207.53 (next support)
  • $208.88 (nearby support)
• Resistance Levels:
  • $212.87 (recent high)
  • $213.00 (near-term resistance)
  • $215.00 (next significant resistance)
• Price Action Prediction (30-minute chart):
  • Targets: $212.87, $213.50, $215.00
  • Entry Points: Around $207.53 and $206.99
  • Stop-Loss: Below $206.63
• Chart:
  

AVXL (Anavex Life Sciences)

• Support Levels:

  • $5.77 (recent low)
  • $6.11 (support level)
  • $6.16 (near-term support)
• Resistance Levels:
  • $6.72 (recent high)
  • $6.80 (next resistance)
  • $7.00 (significant resistance)
• Price Action Prediction (30-minute chart):
  • Targets: $6.72, $6.80, $7.00
  • Entry Points: Around $6.16 and $6.11
  • Stop-Loss: Below $6.11
• Chart:
  

CHKP (Check Point Software)

• Support Levels:

  • $171.54 (recent low)
  • $174.39 (support level)
  • $175.53 (near-term support)
• Resistance Levels:
  • $177.17 (recent high)
  • $178.00 (next resistance)
  • $180.00 (significant resistance)
• Price Action Prediction (30-minute chart):
  • Targets: $177.17, $178.00, $180.00
  • Entry Points: Around $174.39 and $175.53
  • Stop-Loss: Below $174.39

• Chart: