Overall Sector and Industry Analysis:
Datetime Range Analyzed: 2024-07-02 to 2024-08-01 (EST)
Based on the analysis of the stocks’ price and volume data over the past 30 days, it’s clear that there’s a mixed performance across various sectors and industries. Here are the key observations:
- Real Estate (AMT, SBAC):
- Both American Tower Corporation (AMT) and SBA Communications Corporation (SBAC) have shown significant intraday movements. Over the past 10 days, AMT has seen a relatively steady price with minor fluctuations while SBAC has experienced more volatility. However, neither company exhibits a clear upward or downward trend.
- Healthcare (MCK, CHE):
- McKesson Corporation (MCK) and Chemed Corporation (CHE) have demonstrated bullish tendencies. MCK has steadily increased over the past week while CHE saw significant growth in the last two days. Both stocks have shown strong volumes during their upward movements.
- Technology (VRSN, ARGX):
- Verisign (VRSN) has experienced a mild downward trend but with considerable volume spikes indicating potential accumulation. Argenx SE (ARGX) has mostly traded sideways but with upward surges during the past 10 days.
- Financial (WLFC):
- Willis Lease Finance Corporation (WLFC) has experienced some volatility with occasional sharp price increases. This indicates potential speculative trading or reactions to significant news.
- Speculative and Penny Stocks (EIGRQ, SICP):
- EIGRQ and SICP have shown extremely low volume but high volatility. This type of price action is common in lower market cap stocks and might be driven by speculative movements.
- Biotech (ETNB):
- 89bio, Inc (ETNB) has shown consistent upward price action over the last few days with steady volume, indicating interest from traders and potential for short-term gains.
Ticker Performance Prediction:
Likely to Go Up in the Next 2-3 Days:
– MCK (McKesson Corporation): Strong uptrend with good volume support.
– CHE (Chemed Corporation): Bullish momentum.
– ETNB (89bio, Inc): Consistent with its upward movement and volume.
Individual Stock Analysis:
McKesson Corporation (MCK)
Key Levels for Support:
1. $626.00
2. $624.50
3. $622.85
Key Levels for Resistance:
1. $631.50
2. $633.00
3. $635.20
Price Action Prediction (30-minute Chart):
– Expect MCK to test the $631.50 resistance in the next 2-3 trading days. On breaking this level, it may target $633.00 and subsequently $635.20 within the swing window.
Price Targets:
– Near-term: $631.50
– Mid-term: $633.00
– Long-term: $635.20
Entry Point:
– Enter near $626.00
Stop-loss Level:
– Place stop-loss around $622.85
Chemed Corporation (CHE)
Key Levels for Support:
1. $589.00
2. $587.50
3. $585.00
Key Levels for Resistance:
1. $593.00
2. $595.00
3. $597.00
Price Action Prediction (30-minute Chart):
– CHE is anticipated to continue its bullish trend, testing the $593.00 resistance. If this level breaks, the stock is likely to move toward $595.00 and potentially $597.00.
Price Targets:
– Near-term: $593.00
– Mid-term: $595.00
– Long-term: $597.00
Entry Point:
– Enter near $589.00
Stop-loss Level:
– Place stop-loss around $585.00
89bio, Inc (ETNB)
Key Levels for Support:
1. $9.50
2. $9.40
3. $9.30
Key Levels for Resistance:
1. $9.65
2. $9.75
3. $9.85
Price Action Prediction (30-minute Chart):
– ETNB is showing prominent bullish signs. It’s expected to test $9.65 and could aim for $9.75. If momentum persists, it may reach up to $9.85.
Price Targets:
– Near-term: $9.65
– Mid-term: $9.75
– Long-term: $9.85
Entry Point:
– Enter around $9.50
Stop-loss Level:
– Place stop-loss around $9.30