Continuation Breakout Monday 1PM 9/23/2024

Overall Sector and Industry Analysis:

Time Period Analyzed: August 23, 2024 – September 23, 2024 (EST)

The overall market sector has shown mixed performance over the last 30 days. Analyzing the price and volume patterns provides crucial insights into sector rotations and highlights certain outperforming and underperforming industries.

1. Technology and E-Commerce:
   • SMCI (Super Micro Computer): This stock witnessed considerable price volatility, mainly contributing to the overall technology sector’s unpredictable behavior. It showed signs of a bullish reversal in the last 10 days.
   • NFLX (Netflix): Subtle rebound signs noticed after a minor dip around mid-September.
2. Finance:
   • BLK (BlackRock): Showcased steady performance with limited volatility. However, it stagnated towards the term’s end.
   • OPRT (Oportun Financial Corp): Minor rallies and pullbacks observed, which suggest market indecisiveness.
3. Retail and Consumer Goods:
   • COST (Costco Wholesale Corporation): The retail sector seems somewhat resilient. Costco showed a stable price movement with increasing volume, implying potential interest.
4. Healthcare and Biotech:
   • JANX (Janux Therapeutics): Demonstrated strong price action, likely reacting to sector-based news or specific stock catalysts.
5. Materials and Industrial:
   • SHW (Sherwin-Williams): This stock exhibited stable growth with slight upward momentum.
   • CSWI (CSW Industrials): Showed healthy bullish patterns despite minor intra-term corrections.
6. Entertainment and Leisure:
   • LB (L Brands): Displayed steady price increments, underlining consistent demand.
   • TKNO (Alpha Teknova): Stability noted with small upswings indicating growing market confidence.

Ticker Performance Prediction:

Likely to Go Up:
– SMCI: Bullish signals with potential upside in the next 2-3 days.
– COST: Solid volume suggesting potential bullish momentum.
– JANX: Strong upward momentum.
– SHW: Stable increment showing promise.

Highlighted Bullish Signals:
– SMCI: Given its steady recent upward trajectory and considerable price strength.
– JANX: Strong buyer interest indicated by increasing volume and closing prices.

### Individual Stock Analysis:

1. SMCI (Super Micro Computer)

• Support Levels:
  • $461.00
  • $464.10
  • $465.40
• Resistance Levels:
  • $470.80
  • $471.85
  • $475.00

Price Action Prediction (Next 2-3 Days):
– Entry Point: Near $464.00 (Close to solid support).
– Price Targets: $469.00, $471.50, and if momentum sustains $475.00.
– Stop-Loss: $461.00

Chart:

2. COST (Costco Wholesale Corporation)

• Support Levels:
  • $916.70
  • $917.50
  • $918.00
• Resistance Levels:
  • $919.50
  • $920.00
  • $922.00

Price Action Prediction (Next 2-3 Days):
– Entry Point: Near $917.50 (Close to immediate support).
– Price Targets: $918.70, $919.50, and possibly $920.50.
– Stop-Loss: $916.50

Chart:

3. JANX (Janux Therapeutics)

• Support Levels:
  • $50.25
  • $50.49
  • $50.64
• Resistance Levels:
  • $51.20
  • $51.83
  • $52.00

Price Action Prediction (Next 2-3 Days):
– Entry Point: Around $50.70 (Established as recent strong support).
– Price Targets: $51.20, $51.80, and $52.00 if the momentum is sustained.
– Stop-Loss: $50.25

Chart:

4. SHW (Sherwin-Williams)

• Support Levels:
  • $378.47
  • $379.13
  • $379.27
• Resistance Levels:
  • $379.80
  • $380.25
  • $381.00

Price Action Prediction (Next 2-3 Days):
– Entry Point: Near $379.13 (On minor pullbacks).
– Price Targets: $379.80, $380.50, and potentially $381.00.
– Stop-Loss: $378.47

Chart:

The analyses provided are based on observed recent patterns and volume indicators. Always incorporate appropriate risk management practices while trading.