Continuation Breakout Thursday 1PM 6/20/2024

Overall Sector and Industry Analysis

Datetime Range Analyzed (EST): May 20, 2024 – June 20, 2024

In the past 30 days, we have observed considerable activity across various sectors. The healthcare and biotech sectors, represented by stocks like INSP and LLY, have shown consistent volume and upward momentum, indicating renewed investor interest possibly driven by recent news or earnings reports. On the other hand, the technology and industrial sectors, represented by stocks such as TTEK and CRL, displayed mixed performance with periods of consolidation and brief bullish movements.

A few noticeable trends include:

1. Healthcare/Biotech Sector:
   • Eli Lilly and Co (LLY) experienced substantial trading volumes and a strong bullish trend, likely driven by positive clinical trial results or earnings reports.
   • Inspire Medical Systems Inc (INSP) showed volatility but overall upward momentum, suggesting possible favorable product news.
2. Industrial Sector:
   • Charles River Laboratories (CRL) and Tetra Tech Inc (TTEK) exhibited strength, with relatively stable movements and slight bullish trends.
3. Technology Sector:
   • ArcBest Corporation (ARCB) showed mixed activity, indicating market indecisiveness or sector-specific news affecting the stock.

Ticker Performance Prediction

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

1. LLY (Eli Lilly and Co): Strong bullish signals with sustained upward momentum.
2. CRL (Charles River Laboratories): Consistent trading volume and bullish candlestick patterns.
3. TTEK (Tetra Tech Inc): Positive price action and volume spikes indicating potential for upward movement.

Individual Stock Analysis

LLY (Eli Lilly and Co)

• Support Levels: $886, $893, $896
• Resistance Levels: $897, $901, $903
• Price Action Predictions:
  • Next 2-3 trading days (30-minute chart): Expect upward momentum to continue towards $900-$902 with possible retracement back to $896.
  • Price Targets:
  • Target 1: $901 (near-term resistance)
  • Target 2: $903 (extended target based on ATR)
  • Entry Points: Near support level of $896 or $893.
  • Stop-Loss Levels: Below support at $886.

CRL (Charles River Laboratories)

• Support Levels: $208.00, $208.84, $209.36
• Resistance Levels: $209.63, $210.15, $210.46
• Price Action Predictions:
  • Next 2-3 trading days (30-minute chart): Expect attempt to break resistance at $210.15, aiming for $210.46.
  • Price Targets:
  • Target 1: $210.15 (near-term resistance)
  • Target 2: $210.46 (upper target based on recent movement)
  • Entry Points: Near support levels of $209.36 or $208.84.
  • Stop-Loss Levels: Below support at $208.00.

TTEK (Tetra Tech Inc)

• Support Levels: $206.92, $208.52, $208.90
• Resistance Levels: $208.50, $209.58, $209.78
• Price Action Predictions:
  • Next 2-3 trading days (30-minute chart): Likely to test $209.58 with potential to reach $209.78.
  • Price Targets:
  • Target 1: $209.58 (near-term resistance)
  • Target 2: $209.78 (extended target on bullish sentiment)
  • Entry Points: Near support levels of $208.52 or $208.90.
  • Stop-Loss Levels: Below $206.92.

Summary

• LLY shows strong bullish signals and is likely to break near-term resistance.
• CRL and TTEK indicate bullish patterns and strong support levels, making them good candidates for a short-term swing.

This analysis considers historical price and volume data and assumes regular market conditions. External factors like earnings reports, economic indicators, or unexpected news can significantly influence stock performance. Always perform due diligence before entering any positions.