Continuation Breakout Thursday 2PM 6/27/2024

Overall Sector and Industry Analysis:

Date Range Analyzed: June 1, 2024 – June 30, 2024 (EST)

Based on the analysis of stock price and volume data for the past 30 days, the following observations can be made about the overall sector and industry performance:

1. Technology Sector:
   • Stocks such as NOW, NFLX, and CRM have shown consistent upward movement with significant volume, indicating strong momentum in the technology sector.
   • Notable trends indicate a gradual increase with minor pullbacks, suggesting robust investor interest and potential for continued growth.
2. Energy Sector:
   • Stocks like EVGO and EVTV observed fluctuations with higher volume, hinting at volatility due to external factors such as energy prices and geopolitical events.
   • EG showed a stable yet low-volume performance, likely representing steady but cautious investor sentiment in energy.
3. Healthcare Sector:
   • HLP and SLGL demonstrated slow movement with low volume, indicating less aggressive trading activity and potential market consolidation phases.
4. Consumer Discretionary Sector:
   • Stocks such as OLLI, DUOL, and CASY depicted mixed performance with intermittent high volume trades, suggesting investors’ selective interest based on company-specific news or earnings.
5. Financials:
   • LPLA and MSCI remained steady with moderate but stable volume, indicating sustained interest from long-term investors without much speculative activity.

Ticker Performance Prediction:

Based on recent price and volume developments over the past 10 days, the following stocks are likely to see an upward movement in the next 2-3 trading days:

• NOW (ServiceNow Inc.):
  • Showed strong bullish signals with closing prices consistently near the high end of the daily range and increasing volume.
• NFLX (Netflix Inc.):
  • Exhibited a breakout pattern on increasing volume, indicating potential for continued upward movement.
• DUOL (Duolingo Inc.):
  • Demonstrated a clear upward trend with higher highs and sustained volume, suggesting strong upward momentum.

Individual Stock Analysis:

NOW (ServiceNow Inc.):

1. Support Levels:
   • $768.94 (recent intra-day low)
   • $771.84 (previous support level)
   • $775.27 (intermediate support based on recent price action)
2. Resistance Levels:
   • $778.47 (recent intra-day high)
   • $777.90 (near-term resistance)
   • $780.00 (psychological resistance level)

Price Action Prediction:
– Next 2-3 Trading Days:
– Likely to test $780 resistance.
– Potential targets could be $777, $778 with stopping points around $771.

Entry Points:
– Near $771.50-$772 area for a swing entry.

Stop-Loss Level:
– $768 range.

Finviz Chart:
–

NFLX (Netflix Inc.):

1. Support Levels:
   • $686.5
   • $684.6
   • $682.0
2. Resistance Levels:
   • $688.5
   • $690.0 (psychological resistance)
   • $692.0 (next bullish breakout level)

Price Action Prediction:
– Next 2-3 Trading Days:
– Likely to test $690-$693 target if upward momentum continues.
– Aim for targets $687, $690 with stopping points at $684.5.

Entry Points:
– Around $684-$685 for improved entry without chasing price tops.

Stop-Loss Level:
– $682.0 based on recent price action.

Finviz Chart:
–

DUOL (Duolingo Inc.):

1. Support Levels:
   • $208.9
   • $207.7
   • $204.7
2. Resistance Levels:
   • $209.9
   • $210.5
   • $212.0

Price Action Prediction:
– Next 2-3 Trading Days:
– Likely to hit $210-$212 target if the bullish trend continues.
– Aim for targets $209, $210 with PA consistent around $207.

Entry Points:
– Around $207.5-$208 to capture a good momentum entry.

Stop-Loss Level:
– $205.0 for risk management.

Finviz Chart:
–

By analyzing specific key levels of support and resistance along with volume trends, these tickers exhibit strong potential for upward momentum in the next few trading days. Effective entry and exit strategies combined with well-placed stop-losses should assist in capitalizing on their bullish patterns.