Continuation Breakout Thursday 4PM 6/13/2024

Overall Sector and Industry Analysis:

Analysis Period: May 15, 2024 – June 13, 2024 (US Eastern Time)

Over the past 30 days, the sprawling movements within the sectors of Technology, Healthcare, Real Estate, Industrial, and Oil & Gas have been noteworthy. From a volume perspective, there’s been an uptick in the real estate and technology sectors, reflecting increased investor interest in these areas. Comparatively, sectors like industrials and utilities have shown modest volume increases, with less volatility.

• Real Estate (PSA, JLL, COR): Real estate had a diverse performance with PSA maintaining a low volatility profile while JLL and COR showing more significant movements. PSA demonstrated stable trading volumes and slight uptrends, supporting a continued momentum. Both JLL and COR showcased gradual interest among investors.

• Healthcare (BIIB, HUM, VRTX, UNH, KRYS, TERN, AMGN): This sector demonstrated strong bullish sentiment, particularly in heavyweight tickers such as UNH and HUM, which saw marked price surges. Smaller tickers like TERN showed drastic price and volume changes indicating speculation-based trading.

• Technology (PI, AVTE, NFLX, BTDR): Technology exhibited several breakout patterns. NFLX and BTDR, for instance, exercised significant trading volumes reflecting considerable investor inflow and volatility. NFLX showed resilience with sustained high trading volumes.

• Industrials (APD, HEI): The industrials maintained gradual uptrends with consistent trading volumes, indicating steady decentralized trading behavior with no erratic activity.

• Oil & Gas (NGNE, GFL): This sector remained relatively stable, with slight bullish sentiment in tickers like GFL which experienced an increase in trading volume in the last few days of the analyzed period.

Ticker Performance Prediction:

Likely to Go Up:

1. NFLX: Demonstrating strong trading volumes and resilient price activity.
2. UNH: Showing continuation patterns supported by heavy trading volumes.
3. HUM: Bullish momentum carried by strong volume inflow.

Individual Stock Analysis:

Netflix (NFLX)

• Support Levels:
  1. $650.00
  2. $645.00
  3. $640.00
• Resistance Levels:
  1. $655.00
  2. $660.00
  3. $665.00

Price Action Prediction:
For the next 2-3 trading days, NFLX is expected to see upward momentum given the positive volume pattern.

Targets:
1. Near target: $655
2. Mid-term target: $660
3. Far target: $665

Entry Points:
1. Near $650.00

Stop-Loss Levels:
1. Near $640.00

UnitedHealth Group (UNH)

• Support Levels:
  1. $490.00
  2. $485.00
  3. $480.00
• Resistance Levels:
  1. $500.00
  2. $505.00
  3. $510.00

Price Action Prediction:
UNH likely to test the $500 resistance in upcoming sessions indicating bullish activity, supported by substantial volume.

Targets:
1. Near target: $500
2. Mid-term target: $505
3. Far target: $510

Entry Points:
1. Near $490.00

Stop-Loss Levels:
1. Near $480.00

Humana Inc. (HUM)

• Support Levels:
  1. $355.00
  2. $350.00
  3. $345.00
• Resistance Levels:
  1. $360.00
  2. $365.00
  3. $370.00

Price Action Prediction:
Upcoming breakout likely towards $360, if volume maintains at current levels.

Targets:
1. Near target: $360
2. Mid-term target: $365
3. Far target: $370

Entry Points:
1. Near $355.00

Stop-Loss Levels:
1. Near $345.00

Conclusion:

The consolidation of price activity alongside volume trends supports bullish momentum in strong industry performers like NFLX, UNH, and HUM. Vigilant monitoring of support/resistance levels and suggested entry, exit points will enhance short-term swing trading efficacy.