Continuation Breakout Thursday 4PM 7/11/2024

Overall Sector and Industry Analysis:

Date/Time Range Analyzed: June 11, 2024, to July 11, 2024 (EST)

Overall Sector Performance:

• Technology Sector:
  • Stocks Mentioned:
  • CSL: Generally stable with slight fluctuations, increased volume around support levels.
  • MLM: Exhibiting upward potential with strong volume surges.
  • Trend: High periods of stability with occasional sharp upticks.
• Biotechnology:
  • Stocks Mentioned:
  • WVE: Notable sell-off with some stabilization towards the end.
  • RVNC: Some recovery signs with healthy volume.
  • Trend: Volatile with opportunities around stabilization signs post sell-off.
• Financial Services:
  • Stocks Mentioned:
  • MCO, TT: Both showing signals of consolidation with upward break potential.
  • Trend: High volume during consolidation, potential bullish breakouts.
• Consumer Discretionary:
  • Stocks Mentioned:
  • AZO, LCID: Showing resilience, consistent upward price movement amid steady volumes.
  • Trend: Steady upward trend with strong support seen at lower price points.

Noticeable Trends/Patterns:

1. High Volume Breakouts: Stocks such as MLM, MCO, AZO exhibit strong bullish signals with surges in volume particularly in the last 10 days, indicating momentum.
2. Selling Pressure Stabilization: WVE, RVNC have seen periods of intense selling, followed by stabilization, suggesting potential short-term entry points for a swing trade.
3. Pattern Formations: Consolidation patterns in stocks like TT and MCO suggest potential for upward momentum breakouts.

Ticker Performance Prediction:

Likely to Go Up in the Next 2-3 Days:
1. MLM:
– Bullish Signal: Strong closing volume and printing higher highs.

1. AZO:
   • Bullish Signal: Consistent upward price move with volume confirmation.
2. CSL:
   • Bullish Signal: Stability near support zones with increased volume—potential for a bounce.

Highlighting Strong Bullish Signals:
1. CSL:
2. MLM:
3. AZO:

Individual Stock Analysis:

MLM:

• Key Levels:
  • Support: $553, $550, $547
  • Resistance: $556, $560, $565
• Price Action Prediction:
  • Next 2-3 Days: Expected to test $556-$560 range given previous high-volume surge.
  • Price Targets: Near-term: $556, Mid-term: $560, Longer-term: $565.
  • Potential Entry: Around $553 (support level).
  • Stop-Loss: Around $547.

AZO:

• Key Levels:
  • Support: $2865, $2850, $2830
  • Resistance: $2885, $2900, $2920
• Price Action Prediction:
  • Next 2-3 Days: Expected to push towards $2885-$2900.
  • Price Targets: Near-term: $2885, Mid-term: $2900, Longer-term: $2920.
  • Potential Entry: Around $2865 (support level).
  • Stop-Loss: Around $2830.

CSL:

• Key Levels:
  • Support: $426, $425, $424
  • Resistance: $428, $430, $432
• Price Action Prediction:
  • Next 2-3 Days: Expected to challenge $428-$430.
  • Price Targets: Near-term: $428, Mid-term: $430, Longer-term: $432.
  • Potential Entry: Around $426 (near current support).
  • Stop-Loss: Around $424.