Continuation Breakout Monday 1PM 7/15/2024

Overall Sector and Industry Analysis

Datetime Range Analyzed: 2024-06-17 to 2024-07-15 (EST)

Based on the past 30 days of price and volume data, overall sector and industry performances indicate various trends and patterns. The following points summarize the key findings from the analysis:

1. Energy Sector:
   • Companies like TPL and UEC show strong interest and volatility, possibly driven by fluctuations in oil and natural gas prices.
   • Notable volumes on UEC, which suggests active trading.
2. Healthcare/Biotech Sector:
   • SMMT, ETNB, RAPT, BDTX, CRNX, KRYS, and ORIC have exhibited variable price actions but generally, we’ve seen price declines or consolidations.
   • SMMT and RAPT show signs of recovery potential based on volume spikes.
3. Technology and Digital Services:
   • Mixed performance in this area with INOD and GPCR showing some bullish signals.
   • INTU and WSO displayed steady movements suggesting some consolidation before potential breakouts.
4. Consumer Discretionary:
   • Stocks like ORLY and AZO show strong resilience with steady price increases.
   • AUTL and CMI showed patterns of consolidation.
5. Financials:
   • FCNCA and DPST exhibited considerable volatility with directional movements but showed potential bullish reversals recently.

Recent 10 Days Price-Volume Development

In the past 10 days, notable developments include:
– Volume spikes in UPST and SMMT, possibly indicating accumulation phases.
– Consolidation patterns emerging in multiple sectors suggest anticipation of breakouts.
– Consistent upward moves in GWW and INTU hint at strength in these stocks.
– Sharp reversals in some tech and energy stocks point to short-term trading opportunities.

Ticker Performance Prediction

Based on the recent 10 days’ price-volume analysis, the following tickers are likely to go up in the next 2-3 days:
– SMMT: Strong buying volume and upward price trend.
– UPST: Volume spikes with strong price recovery.
– BDTX: Steady volume increase and price consolidation.
– GWW: Consistent price increase and strong volume.
– INTU: Strong resistance break and consistent trading volume.

Individual Stock Analysis

SMMT

• Support Levels:
  • $8.57
  • $8.98
  • $9.01
• Resistance Levels:
  • $9.23
  • $9.15
  • $9.24

Predictions:
– Price Action: Expect price to test $9.23 first and possibly break to $9.15.
– Targets: First target $9.15, second target $9.24.
– Entry Point: Near $8.98 support.
– Stop-Loss: Below $8.80.
–

UPST

• Support Levels:
  • $29.10
  • $29.58
  • $30.21
• Resistance Levels:
  • $30.54
  • $31.25
  • $30.99

Predictions:
– Price Action: Expect consolidation near $30.54 with potential breakout.
– Targets: $31.25, $32.00.
– Entry Point: Near $30.21.
– Stop-Loss: Below $29.20.
–

BDTX

• Support Levels:
  • $5.77
  • $5.84
  • $5.91
• Resistance Levels:
  • $6.00
  • $5.99
  • $5.98

Predictions:
– Price Action: Anticipate testing of $6.00 resistance.
– Targets: $6.00, $6.20.
– Entry Point: Near $5.84.
– Stop-Loss: Below $5.70.
–

GWW

• Support Levels:
  • $930.18
  • $934.97
  • $937.58
• Resistance Levels:
  • $941.72
  • $943.84
  • $945.51

Predictions:
– Price Action: Steady uptrend continues testing $941.72 resistance.
– Targets: $945.00, $950.00.
– Entry Point: Near $934.97.
– Stop-Loss: Below $930.00.
–

INTU

• Support Levels:
  • $653.35
  • $653.78
  • $654.78
• Resistance Levels:
  • $656.52
  • $657.04
  • $657.50

Predictions:
– Price Action: Potential breakout above $656.52.
– Targets: $657.50, $660.00.
– Entry Point: Near $653.78.
– Stop-Loss: Below $653.00.
–

Overall, the focus should remain on trading with the current momentum, identifying solid support levels for entry points, and setting stop losses to manage risk effectively. Keep an eye on volume spikes and consolidation patterns as they can indicate strong moves in the coming days.