Continuation Breakout Monday 2PM 11/11/2024

Overall Sector and Industry Analysis:

Datetime Range Analyzed: October 12, 2024, to November 11, 2024 (EST)

The overall sector landscape during the past month showcases significant variation in price and volume movement across different industries. Notable trends emerged in the technology and energy sectors, aligning with broader market themes.

• Technology Sector: This sector displayed mixed performance with stocks like CRM and COIN marked by substantial volatility, potentially driven by speculative trading and recent earnings announcements. Notably, COIN showed a bullish inclination with a recent surge in volume and price, hinting at strong buying interest.

• Energy Sector: Here, we observe increased activity with stocks like OIH and LNG reflecting an uptrend, likely supported by global energy price movements and geopolitical tensions influencing supply chains.

• Health Sector: Stocks such as HIMS experienced notable trading volumes and fluctuations, suggesting investor responsiveness to regulatory updates and earnings outlook within the healthcare space.

Among the stocks evaluated, tickers like COIN, MARA, and RIOT presented significant upward momentum in the recent 10-day window, with rising volumes that corroborate these price trends.

Ticker Performance Prediction:

1. COIN: The stock is likely to continue its upward trajectory in the next 2-3 days, supported by bullish volume spikes and higher highs on the price chart.

2. MARA: Showing strong bullish signals with recent breakouts in price and increased trading volume, suggesting continued momentum.

3. RIOT: Similar technical indicators as seen with MARA, indicating potential for further short-term gains.

Individual Stock Analysis:

COIN (Coinbase Global Inc.)

• Support Levels: $328, $324, and $319 (near-term support zones drawn from recent lows and consolidation phases).
• Resistance Levels: $335, $340, and $345 (key resistance identified from historical price peaks and psychological barriers).

Price Action Predictions for Next 2-3 Trading Days:

• Entry Point: Consider entries near $328, aligning with recent intraday support with favorable risk-to-reward.
• Price Targets: Aim for $335 and $340, extending to $345 based on market strength (this aligns with daily ATR movements).
• Stop-Loss Levels: Place stop-loss below $319 to manage downside risk effectively.

MARA (Marathon Digital Holdings Inc.)

• Support Levels: $24.00, $23.50, and $23.00 (highlighted from previous consolidations and pullbacks).
• Resistance Levels: $25.75, $26.50, and $27.00 (identified based on past resistance zones and overhead supply).

Price Action Predictions for Next 2-3 Trading Days:

• Entry Point: Look towards $24.25 for potential buying opportunities if the stock retraces to key Fibonacci retracement areas.
• Price Targets: Near-term targets are $25.75 and $26.75, extending potential towards $27 if momentum continues.
• Stop-Loss Levels: Positions should be protected with stop-loss orders around $23.50 to limit exposure.

RIOT (Riot Platforms Inc.)

• Support Levels: $15.20, $15.00, and $14.75 (drawn from previous price structure and trading range lows).
• Resistance Levels: $16.00, $16.50, and $17.00 (benchmarks from prior spikes in trading activity).

Price Action Predictions for Next 2-3 Trading Days:

• Entry Point: Strategic entry around $15.30, leveraging historical support.
• Price Targets: Primary target at $16.00, with extended indicators suggesting upside potential to $16.50 and $17.00 depending on volume sustenance.
• Stop-Loss Levels: Risk can be capped with stop-loss just below $14.75 as a safeguard against market fluctuations.

This analysis underscores the influence of sector dynamics and individual stock developments, providing a concise framework for short-term trading strategies in the current market environment. Ensure to adapt strategies to market changes and consider risk management as a critical component of trading operations.