Continuation Breakout Monday 4PM 9/09/2024

Overall Sector and Industry Analysis

Date Range Analyzed: August 10, 2024, to September 9, 2024 (all times EST)

In the past 30 days, notable shifts have occurred across several sectors and industries that are reflected in the pricing and volume data of the provided tickers. A summary of key sector performances is as follows:

1. Healthcare Sector (Tickers: RMD, PCVX, BFLY, PODD):
   • The healthcare sector has shown mixed performance. RMD (ResMed) and PCVX (Vaxcyte) experienced some intraday volatility with volume spikes, indicating potential institutional interest. BFLY (Butterfly Network) and PODD (Insulet) have experienced considerable intraday fluctuations, suggesting speculative interest.
2. Technology Sector (Tickers: NOW, MA, OOMA):
   • The technology sector remains strong overall, with consistent trading volumes and minor price volatility. For instance, NOW (ServiceNow) displayed steady upward movement over recent days, and MA (MasterCard) has also shown gradual gains. OOMA (Ooma) seems to have less volume but maintained a steady price range.
3. Consumer Discretionary (Tickers: ULTA):
   • ULTA (Ulta Beauty) exhibited strong volume support and has shown resilience. The uptrend in ULTA reinforces consumer spending recovery assumptions.
4. Financial Sector (Tickers: EQIX):
   • EQIX (Equinix) demonstrated strong support levels with consistent volume indicating a potential buildup for a breakout.
5. Aerospace & Defense (Tickers: NOC):
   • NOC (Northrop Grumman) remained stable, showing minor movements likely due to its nature as a defense stock, indicating strong institutional holding.
6. Specialty Retail (Ticker: MODV):
   • MODV (ModivCare) has shown stable trading patterns with moderate fluctuations suggesting consolidation.

Ticker Performance Prediction

Based on the recent price and volume developments, the following tickers are likely to go up in the next 2-3 days:

1. NOW (ServiceNow)
2. MA (MasterCard)
3. ULTA (Ulta Beauty)
4. BFLY (Butterfly Network)

Individual Stock Analysis

1. NOW (ServiceNow):

• Support Levels:
  • $848.36
  • $852.05
  • $850.36
• Resistance Levels:
  • $855.55 (near-term)
  • $857.00 (intermediate)
  • $860.00 (strong resistance)
• Predictions Based on 30-Min Chart:
  • Price Action: Given the recent movement, expect a breakout above $857.00.
  • Price Targets:
  • Target 1: $857.00
  • Target 2: $860.00
  • Target 3: $864.00
  • Possible Entry Points: Near $850.36 to $852.05.
  • Stop Loss: Set a stop-loss near $847.95.

2. MA (MasterCard):

• Support Levels:
  • $486.60
  • $487.05
  • $487.39
• Resistance Levels:
  • $488.51 (near-term)
  • $489.21
  • $490.00 (strong resistance)
• Predictions Based on 30-Min Chart:
  • Price Action: Expect gradual upward movement with momentum likely around $488.51.
  • Price Targets:
  • Target 1: $488.51
  • Target 2: $489.21
  • Target 3: $490.50
  • Possible Entry Points: Near $487.05.
  • Stop Loss: Set a stop-loss around $486.00.

3. ULTA (Ulta Beauty):

• Support Levels:
  • $380.51
  • $380.70
  • $381.00
• Resistance Levels:
  • $382.42 (near-term)
  • $383.00
  • $385.00 (strong resistance)
• Predictions Based on 30-Min Chart:
  • Price Action: A breakout above $382.42 indicates a strong uptrend.
  • Price Targets:
  • Target 1: $382.42
  • Target 2: $383.00
  • Target 3: $385.00
  • Possible Entry Points: Near $380.51.
  • Stop Loss: Set a stop-loss near $380.00.

4. BFLY (Butterfly Network):

• Support Levels:
  • $1.90
  • $1.91
  • $1.93
• Resistance Levels:
  • $2.00 (near-term)
  • $2.05
  • $2.10 (strong resistance)
• Predictions Based on 30-Min Chart:
  • Price Action: Likely to test $2.00 in the next few trading sessions.
  • Price Targets:
  • Target 1: $2.00
  • Target 2: $2.05
  • Target 3: $2.10
  • Possible Entry Points: Near $1.91.
  • Stop Loss: Set a stop-loss near $1.88.

By analyzing the above insights, swing traders can make informed decisions on likely breakouts and potential short-term gains.