Continuation Breakout Thursday 1PM 6/13/2024

Overall Sector and Industry Analysis:

Datetime Range in EST Analyzed: May 14, 2024, to June 13, 2024

Based on the data provided, the overall sector and industry performance has been mixed. Here’s a quick overview:

1. Technology Sector:
   • Noteworthy Tickers: SNPS, ACLS, VRTX, NXPI, PI
   • Trend:
     • The technology sector has shown fluctuating performance.
     • SNPS and ACLS consolidated with low volatility, showing modest uptrending patterns. NXPI and PI experienced mild upward movements indicating potential breakouts.
2. Healthcare Sector:
   • Noteworthy Tickers: BIIB, INSM, OBIO, KRYS
   • Trend:
     • The healthcare sector has seen some declining trends, particularly in BIIB and KRYS, with INSM mostly consolidating.
     • OBIO showed mixed signs with more sideways movements, suggesting indecision.
3. Consumer Discretionary:
   • Noteworthy Tickers: LENZ, AMSC, WSM
   • Trend:
     • LENZ and AMSC had marginal declines; WSM exhibited mixed signals with both declines and recovery phases.
4. Other Sectors:
   • **Energy and Materials:***
     • GFL, BROG performed relatively stagnant.
   • Financial:
     • Not much activity was observed.

Recent 10 days Price Volume Development:

• SNPS experienced a rapid decline recently, which might need careful observation despite the earlier consolidating trend.
• PI and HUT showed volume surges, indicating increasing investor interest.
• NGNE surged recently, making higher highs indicating a strong bullish sentiment.
• AMSC showed wide price fluctuations, indicative of heightened volatility and possibly attributing to external economic factors.

Ticker Performance Prediction:

Likely to Go Up in the Next 2-3 Days:

1. PI – Strong bullish signals, recent volume spike.
2. NXPI – Gradually rising, indicating strong buyer interest.
3. HUT – Positive listing momentum, driven by solid volume.

4. NGNE – Noticeable upward movement due to recent high-volume days.

Individual Stock Analysis:

PI:

Support Levels:
– $151.35
– $150.80
– $148.50 (previous consolidation area)

Resistance Levels:
– $152.79 (immediate resistance)
– $154.42
– $155.85 (minor supply zone)

Price Action Prediction:
Over the next 2-3 days, PI is expected to test $154.42. If the continuation holds, a move towards $155.85 is likely. Pullbacks toward $151.35 could offer entry points, with stop-loss at $150.80.

Chart:

NXPI:

Support Levels:
– $273.30
– $272.00
– $270.45 (demand zone)

Resistance Levels:
– $275.42 (short-term resistance)
– $277.00
– $278.65

Price Action Prediction:
NXPI is poised to break the $275.42 resistance. If volume continues to support the breakout, $277.00 targets are in sight. Entries near $273.30 with stops at $272.00 are suggested.

Chart:

HUT:

Support Levels:
– $11.11
– $10.95
– $10.75 (strong support)

Resistance Levels:
– $11.43 (current peak)
– $11.60
– $12.00

Price Action Prediction:
HUT’s volume upwards move indicates strong buying. Expect resistance at $11.60. Potential breakout to $12.00. Consider buying near $11.11, stop-loss at $10.95.

Chart:

NGNE:

Support Levels:
– $39.60
– $38.85
– $37.50 (consistent higher lows)

Resistance Levels:
– $40.74 (recent high)
– $41.35
– $43.00

Price Action Prediction:
NGNE is likely to confront resistance at $40.74. Bullish volume could drive past $41.35 to hit $43.00. Look to enter around $39.60 with stops around $38.85.

Chart:

Key Notes for Traders:
– Focus on robust volume confirmations.
– Manage risk with well-placed stop-losses.
– Adapt to price action around key levels.

The provided short trades are based on the observations and developments over the past month, ensuring to consider momentum and volume changes as potential triggers for movements in the tickers analyzed.