Continuation Breakout Thursday 12PM 6/13/2024

Overall Sector and Industry Analysis:

Datetime Range Analyzed:
May 13, 2024 – June 13, 2024 (last 30 days), focusing on the recent 10 days.

Sector and Industry Commentary:

Overall, the sectors and industries represented by these stocks showed varied performance over the past 30 days. However, a few distinct patterns emerged:

1. Technology & Semiconductors:
   • ACLS (Axcelis Technologies Inc.): Strong upward momentum with significant price jumps and high trading volumes in the last 10 days.
   • NXPI (NXP Semiconductors): A stable incline in prices, supported by gradual increases in volume, indicating investor confidence.
2. Biotechnology:
   • VRTX (Vertex Pharmaceuticals): Showed significant bullish movement with increasing volumes, suggesting strong buying interest.
   • BIIB (Biogen Inc.): Similar to VRTX, strong upward trend supported by increasing volume.
3. Consumer Discretionary:
   • WSM (Williams-Sonoma Inc.): Moderate upward trend in the past 10 days with steady volume, indicating cautious optimism.
4. Small Cap & Speculative Stocks:
   • XFOR, HUT, KRYS, TWG, etc.: Showed high volatility and mixed patterns, with some indicating potential breakout movements supported by volume spikes.

Noticeable Trends and Patterns:

• Bullish Continuation: Stocks such as ACLS and VRTX show a continuation of bullish trends, supported by strong volume activity.
• Accumulation Phase: Stocks like WSM and NXPI indicate an accumulation phase with steady price increases and consistent volume.
• High Volatility: Small cap and speculative stocks like XFOR and HUT displayed high volatility, with price movements heavily influenced by trading volumes.

Ticker Performance Prediction:

Based on the price and volume analysis, the following tickers are likely to see upward movement in the next 2-3 days:

1. ACLS: Strong bullish signals from price jumps and high volume.
2. VRTX: Persistent upward trend with strong volume support.
3. BIIB: Momentum swing in upward direction backed by increasing volume.
4. KRYS: Recent price spikes with accompanying volume increase indicate potential continuation.

Individual Stock Analysis:

1. ACLS (Axcelis Technologies Inc.):

• Support Levels:
  • $141.60 (near-term)
  • $138.00 (mid-term)
  • $136.00 (long-term)
• Resistance Levels:
  • $145.20 (near-term)
  • $148.00 (mid-term)
  • $150.00 (long-term)
• Price Action Predictions:
  • Expect price to test the $145.20 resistance. If broken, next targets are $148.00 and $150.00.
  • Entry Point: Around $141.60
  • Stop-Loss: Below $138.00
• Price Targets (1-3 Day Swing):
  • PT1: $145.20
  • PT2: $148.00
  • PT3: $150.00
• Finviz Chart:

2. VRTX (Vertex Pharmaceuticals):

• Support Levels:
  • $475.27 (near-term)
  • $472.61 (mid-term)
  • $468.00 (long-term)

• Resistance Levels:

  • $480.89 (near-term)
  • $481.35 (mid-term)
  • $484.00 (long-term)
• Price Action Predictions:
  • Likely to test resistance at $480.89, with potential breakthroughs to $481.35 and $484.00.
  • Entry Point: Around $475.27
  • Stop-Loss: Below $472.61
• Price Targets (1-3 Day Swing):
  • PT1: $480.89
  • PT2: $481.35
  • PT3: $484.00
• Finviz Chart:

3. BIIB (Biogen Inc.):

• Support Levels:
  • $228.23 (near-term)
  • $227.06 (mid-term)
  • $225.00 (long-term)

• Resistance Levels:

  • $230.28 (near-term)
  • $233.54 (mid-term)
  • $235.00 (long-term)
• Price Action Predictions:
  • Expected to continue upward to test resistance at $230.28, potential move towards $233.54.
  • Entry Point: Around $228.23
  • Stop-Loss: Below $227.06
• Price Targets (1-3 Day Swing):
  • PT1: $230.28
  • PT2: $233.54
  • PT3: $235.00
• Finviz Chart:

4. KRYS (Krystal Biotech Inc.):

• Support Levels:
  • $181.34 (near-term)
  • $185.87 (mid-term)
  • $187.41 (long-term)

• Resistance Levels:

  • $188.44 (near-term)
  • $190.99 (mid-term)
  • $191.78 (long-term)
• Price Action Predictions:
  • Price likely to move towards $188.44 and potentially $190.99.
  • Entry Point: Around $185.87
  • Stop-Loss: Below $181.34
• Price Targets (1-3 Day Swing):
  • PT1: $188.44
  • PT2: $190.99
  • PT3: $191.78
• Finviz Chart:

Conclusion:

Stocks like ACLS, VRTX, BIIB, and KRYS have shown strong bullish reactions in the past 10 days. With significant volume backing these price movements, they are all poised for potential upward swings in the coming days. Traders should look for entry points near key support levels and consider setting appropriate stop-loss orders to manage risk.