Overall Sector and Industry Analysis:
Datetime Range Analyzed: July 1, 2024 – July 31, 2024 (EST)
Overview:
The past 30 days were marked by mixed sentiment across various sectors, although certain industries exhibited more pronounced trends. Emphasis on volume in the past 10 days reveals key insights into potential momentum shifts.
Homebuilding Sector (DHI):
D.R. Horton (DHI) witnessed fluctuating prices with a strong volume surge. This sector is generally affected by macroeconomic policies like interest rates and consumer confidence, which currently show signs of stabilization, favoring a bullish outlook.
Basic Materials Sector (APD):
Air Products and Chemicals (APD) saw a steady volume but decreasing price action, suggesting a potential consolidation phase. Basic materials are closely tied to global economic health, and current indicators suggest a cautious outlook.
Healthcare Sector (MCK):
McKesson Corporation (MCK) displayed consistent upward movement with notable volume spikes, indicating strong institutional interest. Healthcare stocks are relatively defensive and benefit from increased demand for services and products.
Technology Sector (CHKP):
Check Point Software Technologies (CHKP) saw significant bullish activity with higher highs and support seen at lower volumes. Continued cybersecurity threats could maintain this momentum.
Utilities Sector (APD):
A minor drop in Air Products and Chemicals (APD) aligns with typical seasonal weak spots for utilities, though fundamental indicators suggest a longer-term bullish trend.
Ticker Performance Prediction:
Bullish Tickers for the Next 2-3 Days:
1. DHI
2. MCK
3. CHKP
Individual Stock Analysis:
D.R. Horton (DHI)
Support Levels:
1. $178.40
2. $178.00
3. $177.50
Resistance Levels:
1. $179.80
2. $180.20
3. $180.75
30-Minute Chart Prediction:
Price likely to test and break above $179.80, with strong buy volume indicating a potential run towards $180.20 in the next 2-3 days.
Price Targets:
1. Near-Term: $179.80
2. Mid-Term: $180.20
3. Long-Term: $180.75
Entry Point: Near $178.40
Stop-Loss: Just below $177.50
McKesson Corporation (MCK)
Support Levels:
1. $604.50
2. $605.00
3. $605.70
Resistance Levels:
1. $607.30
2. $608.50
3. $610.00
30-Minute Chart Prediction:
Positive price action with the potential to break $607.30, supported by high volume. Look for price movement towards $608.50 in 2-3 days.
Price Targets:
1. Near-Term: $607.30
2. Mid-Term: $608.50
3. Long-Term: $610.00
Entry Point: Near $605.00
Stop-Loss: Just below $604.50
Check Point Software Technologies (CHKP)
Support Levels:
1. $185.40
2. $185.00
3. $184.60
Resistance Levels:
1. $186.73
2. $187.50
3. $188.20
30-Minute Chart Prediction:
Anticipate positive movement, possibly testing $186.73 in the next couple of days as recent volume increase suggests buying interest.
Price Targets:
1. Near-Term: $186.73
2. Mid-Term: $187.50
3. Long-Term: $188.20
Entry Point: Near $185.00
Stop-Loss: Just below $184.60