Overall Sector and Industry Analysis
DateTime Range Analyzed: May 17, 2024 – June 17, 2024 (EST)
Upon reviewing the price and volume data of various stocks over the past 30 days, with a particular focus on the most recent 10 days, several trends within specific sectors and industries stand out.
Financial Services Sector
Ticker BLK and MCO:
– Both BlackRock (BLK) and Moody’s (MCO) have shown periods of increased volume paired with mild to modest price increases. BLK had a notable spike in volume on June 17th at midday, which coincided with a rise in the stock price, suggesting institutional buying or positive news.
Consumer Discretionary Sector
Ticker LOW and HD:
– Lowe’s (LOW) and Home Depot (HD) displayed a tight trading range with volumes remaining consistent. Notably, both stocks have had increased buying volume during the middle of recent trading sessions, pointing towards a potential sector rotation into home improvement retail stocks or positive sector news.
Technology Sector
Ticker INTU, ADSK, CDNS, and AAPL:
– Intuit (INTU), Autodesk (ADSK), and Cadence Design Systems (CDNS) all showed significant upward momentum. Particularly, INTU breached psychological levels at $600, indicating high investor confidence. Apple (AAPL) consolidated above $218 and showed increased buying pressure, typically a bullish indicator.
Health Care Sector
Ticker GWW, PODD, and UTHR:
– Grainger (GWW), Insulet (PODD), and United Therapeutics (UTHR) all have varied volume but maintained their price levels. Both GWW and UTHR displayed potential bullish patterns with sustained closing highs over the past few days.
Ticker Performance Prediction
Based on recent volume spikes, price action, and overall market sentiment, the following tickers are likely to see an upward movement in the next 2-3 days:
- INTU (Intuit)
- AAPL (Apple)
- BLK (BlackRock)
Individual Stock Analysis
Intuit (INTU)
- Support Levels:
- $596: Intraday support where stock showed buying interest.
- $593: Minor support based on intraday lows.
- $590: Psychological and historical support level.
- Resistance Levels:
- $603: Recent intraday high and will act as resistance.
- $606: Psychological level and near term daily highs.
- $610: Upper resistance level.
- Price Action Prediction:
- Near-term price target for swing: $606
- Mid-term price target: $610
- Suggested entry: Near $596 support zone.
- Stop loss should be placed slightly below $590 (~$589).
- Chart:
Apple (AAPL)
- Support Levels:
- $217: Recently held intraday support.
- $216: Psychological support with previous support indications.
- $214: Stronger support observed in past trading days.
- Resistance Levels:
- $218.10: Intraday high and immediate resistance.
- $219: Previous intraday high provides resistance.
- $220: Psychological resistance.
- Price Action Prediction:
- Near-term price target for swing: $219
- Mid-term price target: $220
- Suggested entry: Near $217 support zone.
- Stop loss should be placed slightly below $214 (~$213.50).
- Chart:
BlackRock (BLK)
- Support Levels:
- $777: Recent intraday support.
- $772: Minor support seen in intraday drops.
- $770: Stronger support level based on previous lows.
- Resistance Levels:
- $778.50: Recent intraday resistance peak.
- $780: Psychological resistance close to recent highs.
- $785: Upper resistance potentially reached with a volume spike.
- Price Action Prediction:
- Near-term price target for swing: $780
- Mid-term price target: $785
- Suggested entry: Near $772 support zone.
- Stop loss should be placed slightly below $770 (~$769).
- Chart:
This thorough analysis combines recent trends, volume behavior, and key price levels, providing a strategic outlook for the next few days, beneficial for momentum swing traders.