Back to Insights
Swing Idea

Continuation Breakout Thursday 4PM 9/12/2024

September 12, 2024 3 min read

Overall Sector and Industry Analysis

Datetime Range Analyzed:
August 13, 2024, to September 12, 2024 (EST)

Sector and Industry Commentary:
Based on the price and volume data, we can observe differentiated performances across various sectors.

  1. Healthcare & Biotechnology:
    • Tickers like BNTX and KROS have shown relatively stable price movements with occasional upward spurts. BYSI and HCWB, on the other hand, are experiencing low activity, suggesting insignificant short-term growth potential.
  2. Technology:
    • Stocks such as MSI, AXON, and YEXT have exhibited moderate volatility. AXON in particular has demonstrated convectional volume surges, indicating possible bullish trends on the horizon.
  3. Consumer Discretionary:
    • WLGS showcased significant price and volume movements, specifically in the last trading session, hinting at potential upward momentum.
  4. Financials:
    • AGMH and MA manifested varied but consistent trading volumes, with MA showing a slight upward trend, reflected in increasing closing prices.
  5. Utilities and Industrial Goods:
    • NSC and AMRK appear stable with mild fluctuations. NSC shows stronger signs of bullish behavior due to increased volumes and higher closing prices in recent days.

Ticker Performance Prediction

Based on volume and price analysis over the last 10 trading days, the following tickers seem likely to increase in the next 2-3 days:

  1. AXON
  2. WLGS
  3. MA
  4. KROS
  5. MSI

Individual Stock Analysis

AXON finviz dynamic chart for AXON

  • Support Levels:
    • $381.40, $380.47, $379.71
  • Resistance Levels:
    • $384.73, $386.00 (estimate), $388.50 (estimate)
  • Price Action Prediction:
    1. Expect price to move towards $384 in the next two days due to recent higher closing.
    2. Potential Targets: $384.73, $386.00
    3. Entry Point: Near $381.40 (support level)
    4. Stop-Loss: Set it around $379.71

WLGS finviz dynamic chart for WLGS

  • Support Levels:
    • $1.40, $1.35, $1.30
  • Resistance Levels:
    • $1.93, $2.00 (estimate), $2.15 (estimate)
  • Price Action Prediction:
    1. Anticipate a retest of $1.93 resistance, with a potential breakout.
    2. Potential Targets: $1.93, $2.00
    3. Entry Point: Near $1.40 (support level)
    4. Stop-Loss: Set around $1.30

MA finviz dynamic chart for MA

  • Support Levels:
    • $491.54, $490.37, $488.97
  • Resistance Levels:
    • $492.88, $494.50 (estimate), $496.00 (estimate)
  • Price Action Prediction:
    1. Expect the price to shoot past $492.88 mildly due to higher lows.
    2. Potential Targets: $492.88, $494.50
    3. Entry Point: Near $491.54 (support level)
    4. Stop-Loss: Set around $490.37

KROS finviz dynamic chart for KROS

  • Support Levels:
    • $55.50, $55.00, $54.50
  • Resistance Levels:
    • $56.48, $56.75 (estimate), $57.20 (estimate)
  • Price Action Prediction:
    1. Price expected to climb towards $56.75 given the consistent closing above $56.
    2. Potential Targets: $56.48, $56.75
    3. Entry Point: Near $55.50 (support level)
    4. Stop-Loss: Set around $55.00

MSI finviz dynamic chart for MSI

  • Support Levels:
    • $438.15, $437.52, $436.00
  • Resistance Levels:
    • $441.22, $443.00 (estimate), $445.00 (estimate)
  • Price Action Prediction:
    1. A near-term target around $443 is likely as MSI shows bullish engulfing patterns.
    2. Potential Targets: $441.22, $443.00
    3. Entry Point: Near $438.15 (support level)
    4. Stop-Loss: Set around $437.52

Conclusion

Given the current market sentiment and recent trends, the above stocks indicate potential buy opportunities with strategic entry points, resistance targets, and protective stops to manage risk effectively. These insights should arm the momentum swing trader with necessary information for profitable trading over the next few days.

Share:

Related Posts