Continuation Breakout Monday 2PM 7/15/2024

Overall Sector and Industry Analysis:

Datetime Range Analyzed:
From 2024-06-15 10:30:00 to 2024-07-15 13:30:00 (EST).

Commentary:
Over the past 30 days, we have observed varied performances across different sectors and industries. Generally, the momentum swings have been guided by economic data releases, earnings reports, and sector-specific news. Increased trading volume in the latter 10 days suggests heightened interest or apprehension among traders.

• Technology Sector: Stocks like ESLA and OLED showed mixed trends with ESLA oscillating heavily but trending downwards in the last few days. OLED exhibited relatively stable performance with minor fluctuations.
• Financial Services: FCNCA has shown relative stability with minor declines observed in SYNB and EVR. A noticeable dip was detected in SBNY.
• Healthcare: Both ORIC and CRNX showed significant fluctuations with CRNX releasing strong performance data mid-month, propelling a minor surge.
• Consumer Discretionary: PH and RVMD displayed strong positive momentum with consistent gains. ORLY remained stable with minor intra-day fluctuations.
• Industrials: EVR and GWW both exhibited steady upward trends.
• Energy Sector: TPL experienced volatility, reflective of the sector’s dependency on commodity prices.

Notable Trends and Patterns:
– Volume Spikes: There were significant volume spikes in assets like DYN, ORIC, INOD, SMMT, and RVMD in the latter part of the analysis period, indicating potential breakout signals.
– Consolidation Periods: Certain stocks, especially SYRS, GATO, and REAX, have shown consolidation, building bases potentially signaling upcoming moves.
– Bullish Momentum: SMMT and ORIC presented clear bullish momentum signals with increasing volumes and higher highs in recent days.

Ticker Performance Prediction:

Likely Gainers in the Next 2-3 Days:
1. SMMT: Demonstrated a strong breakout with increasing volume and steady higher highs.
2. ORIC: Consistent gains with supportive volumes suggest continued bullish trend.
3. PH: Upward momentum supported by consistent gains over the past several sessions.
4. RVMD: Strong buying interest with upward pressure in recent sessions.
5. GWW: Consistent strong performance indicates sustained upward movement.

Strong Bullish Signals Observed:
– SMMT
– ORIC
– PH
– RVMD
– GWW

Individual Stock Analysis:

1. SMMT (Summit Therapeutics Inc.)

• Support Levels:
  • $9.11
  • $9.02
  • $8.98
• Resistance Levels:
  • $9.53
  • $9.58
  • $9.79

30-Minute Chart Prediction:
Expect a minor retrace to around $9.10 before continuation upwards.
Price Targets for 1-3 Days:
1. $9.53
2. $9.67 (Daily ATR Movement)
3. $9.79
Entry Point: Near $9.02 or around $9.11.
Stop-Loss Level: Near $8.95 or $8.90.

2. ORIC (Oric Pharmaceuticals Inc.)

• Support Levels:
  • $10.42
  • $10.38
  • $10.25
• Resistance Levels:
  • $10.82
  • $11.00
  • $11.25

30-Minute Chart Prediction:
Slight dip to around $10.45 before resumption of uptrend.
Price Targets for 1-3 Days:
1. $10.82
2. $11.00 (Daily ATR Movement)
3. $11.25
Entry Point: Near $10.38.
Stop-Loss Level: Close to $10.25.

3. PH (Parker-Hannifin Corporation)

• Support Levels:
  • $543.22
  • $542.50
  • $541.00
• Resistance Levels:
  • $548.75
  • $550.00
  • $552.00

30-Minute Chart Prediction:
Minor pullback to $544.00 before continuing upward momentum.
Price Targets for 1-3 Days:
1. $548.75
2. $550.50 (Daily ATR Movement)
3. $552.00
Entry Point: Closer to $542.50-$543.22.
Stop-Loss Level: Near $541.00.

4. RVMD (Revolution Medicines Inc.)

• Support Levels:
  • $47.47
  • $47.18
  • $46.56
• Resistance Levels:
  • $48.31
  • $48.56
  • $49.00

30-Minute Chart Prediction:
Slight retrace to $47.50 range before a rebound.
Price Targets for 1-3 Days:
1. $48.31
2. $48.56 (Daily ATR Movement)
3. $49.00
Entry Point: Around $47.47.
Stop-Loss Level: Near $46.56.

5. GWW (W.W. Grainger, Inc.)

• Support Levels:
  • $941.36
  • $939.94
  • $937.22
• Resistance Levels:
  • $945.51
  • $947.00
  • $949.00

30-Minute Chart Prediction:
Expecting minor pullback to $941.00 before a continued bullish move.
Price Targets for 1-3 Days:
1. $945.51
2. $947.00 (Daily ATR Movement)
3. $949.00
Entry Point: Near $941.36 or closer to $940.00.
Stop-Loss Level: Near $937.22.

This comprehensive analysis aims to guide momentum swing traders on market opportunities for the upcoming trading sessions based on the 30-day data insights.