Continuation Breakout Thursday 3PM 6/27/2024

Overall Sector and Industry Analysis

Datetime Range Analyzed: May 28, 2024 – June 27, 2024 (EST)

Based on the analysis of the past 30 days for the tickers provided, we see varied performances across different sectors and industries. Here’s a breakdown:

1. Technology Sector:
   • NYSE: TYL (Tyler Technologies), NASDAQ: ANET (Arista Networks), NYSE: NOW (ServiceNow), NYSE: MANH (Manhattan Associates), NASDAQ: DELL (Dell Technologies), NASDAQ: COE (China Online Education Group), NASDAQ: CRM (Salesforce), NASDAQ: INTU (Intuit), NASDAQ: NFLX (Netflix), NASDAQ: WDAY (Workday):
     • General upward trend driven by strong revenue forecasts and innovation.
     • TYL showed a notable pullback but found support around the $495 level.
     • ANET has been relatively volatile but is stabilizing around the $348 level.
     • NOW maintained upward momentum with consistent days of higher highs.
     • MANH exhibited a tight trading range, showing minimal volatility.
     • DELL and CRM both experienced stable growth, with CRM showing minor corrections.
     • INTU and NFLX remain strong and rallied recently, especially NFLX nearing resistant highs.
2. Healthcare Sector:
   • NASDAQ: UTHR (United Therapeutics):
     • Showed a steady climb but recent days have seen consolidation around the $318 level.
3. Consumer Defensive:
   • NASDAQ: OLLI (Ollie’s Bargain Outlet):
     • Slight decline visible, consolidating around the $98 level.
4. Energy Sector:
   • NYSE: EVGO (EVgo):
     • High volume and a recent uptick suggest attention from investors. Support appears around $2.45.
5. Industrial Sector:
   • NYSE: NOC (Northrop Grumman):
     • Conservative gains, with NOC consolidating around the $435 level.
6. Miscellaneous:
   • NASDAQ: TBIO (Teles Bio), NASDAQ: CASI, NASDAQ: NRIX (Nura Bio), NASDAQ: EG (Evergreen):
     • CASI and NRIX have shown erratic movements, with notable interest in only the recent days for TBIO around the $4.21 range.

Ticker Performance Prediction

Considering momentum, volume trends, and recent price action, the following tickers show potential for upward movement in the next 2-3 days:

1. NFLX (Netflix) – Strong bullish signals with recent consolidation and slight upward moves.
2. NOW (ServiceNow) – Consistently creating higher highs.
3. DELL (Dell) – Recent strong rally indicating sustained interest.
4. EVGO (EVgo) – High volume and upward price action.
5. UTHR (United Therapeutics) – Consolidating at high levels indicating bullish potential.

Individual Stock Analysis

NFLX (Netflix)

• Support Levels: $683, $686, $689
• Resistance Levels: $690, $693, $696
• Price Prediction (Next 2-3 days): Likely to push beyond $690, potentially reaching $693.
• Targets:
  • Near-term Target 1: $693
  • Swing Target: $696
• Entry Points: Around $686 (retracement or continuation)
• Stop-Loss: Below $683

NOW (ServiceNow)

• Support Levels: $776, $777, $778
• Resistance Levels: $779, $781, $783
• Price Prediction (Next 2-3 days): Strong momentum to test $781 level.
• Targets:
  • Near-term Target 1: $781
  • Swing Target: $783
• Entry Points: Around $777 (retracement or continuation)
• Stop-Loss: Below $776

DELL (Dell)

• Support Levels: $139, $140, $140.5
• Resistance Levels: $141, $142, $143
• Price Prediction (Next 2-3 days): Continued bullish move to $142.
• Targets:
  • Near-term Target 1: $142
  • Swing Target: $143
• Entry Points: Around $140.5
• Stop-Loss: Below $139

EVGO (EVgo)

• Support Levels: $2.46, $2.47, $2.48
• Resistance Levels: $2.49, $2.50, $2.51
• Price Prediction (Next 2-3 days): Gradual climb towards $2.50 level.
• Targets:
  • Near-term Target 1: $2.50
  • Swing Target: $2.51
• Entry Points: Around $2.47
• Stop-Loss: Below $2.46

UTHR (United Therapeutics)

• Support Levels: $318, $319, $320
• Resistance Levels: $321, $322, $323
• Price Prediction (Next 2-3 days): Likely to challenge the $320 resistance and move higher.
• Targets:
  • Near-term Target 1: $320
  • Swing Target: $323
• Entry Points: Around $319
• Stop-Loss: Below $318

By focusing on these selected momentum candidates, we can effectively ride the short-term trends. Use the support and resistance levels both for cautious entries and protective stop-losses to manage risk. Keep an eye on higher volume nodes for confirmation of momentum. Happy trading!