Continuation Breakout Tuesday 11AM 6/11/2024

Overall Sector and Industry Analysis

DateTime Range Analyzed: May 12, 2024 to June 11, 2024 (EST)

Within the past 30 days, the analyzed set of stocks spans various sectors and industries, yielding diverse price and volume movements reflective of their respective market trends.

1. ZS (Zscaler, Inc.) – Technology Sector / Software Infrastructure
2. SONM (Sonim Technologies, Inc.) – Communication Services / Telecom Equipment
3. PTON (Peloton Interactive, Inc.) – Consumer Cyclical / Leisure
4. VRSN (VeriSign, Inc.) – Technology Sector / Internet Infrastructure
5. REGN (Regeneron Pharmaceuticals, Inc.) – Healthcare / Biotechnology

Technology Sector:
– ZS and VRSN have shown mixed performance in the last 30 days but with strong recent bullish momentum primarily due to positive sector news and earnings.
– ZS has experienced increased volumes, particularly in the last 5 trading days, suggesting strong investor interest likely driven by favorable developments.

Consumer Cyclical:
– PTON has struggled, reflecting broader weakness in consumer discretionary spending, yet recent volumes have tapered off, possibly indicating a bottoming out process.

Healthcare Sector:
– REGN has shown relative stability in price with modest volume fluctuations, indicating hesitant but steady investor sentiment in biotech amidst market uncertainty.

Communication Services:
– SONM has displayed high volatility with significant spikes in volume, indicating speculative activities or reaction to news events.

Ticker Performance Prediction

Based on the analysis of the recent price action and volume, the following tickers exhibit strong bullish signals and are likely to go up in the next 2-3 days:

1. ZS (Zscaler, Inc.)
2. VRSN (VeriSign, Inc.)

ZS Price and Volume Development (recent 10 days):

Notably, ZS has seen increased trading volumes and an upward trend in price, suggesting an accumulation phase. The positive momentum is expected to sustain.

VRSN Price and Volume Development (recent 10 days):

VRSN has maintained a gradual upward movement supported by steady volumes and has tested and bounced off support levels effectively, reflecting a bullish trend.

Individual Stock Analysis

1. ZS (Zscaler, Inc.)

• Support Levels:
  • $184.00
  • $180.50
  • $177.25
• Resistance Levels:
  • $187.75
  • $190.50
  • $193.30

Price Action Prediction (Next 2-3 Days):

On a 30-minute chart, ZS shows bullish continuation patterns indicating potential breakout targets.
– Price Targets:
– $188.50 (near-term)
– $190.50 (2-3 days)
– $192.75 (extended)
– Entry Points:
– Around $184.50 to $185.00
– Stop-Loss:
– Below $183.50

2. VRSN (VeriSign, Inc.)

• Support Levels:
  • $178.50
  • $177.00
  • $175.00
• Resistance Levels:
  • $180.50
  • $182.00
  • $184.75

Price Action Prediction (Next 2-3 Days):

VRSN’s steady upward trajectory, coupled with consistent volume, suggests potential for further gains.
– Price Targets:
– $181.50 (near-term)
– $183.00 (2-3 days)
– $185.00 (extended)
– Entry Points:
– Around $179.00 to $179.50
– Stop-Loss:
– Below $178.00

Conclusion

ZS and VRSN are the primary stocks to watch for a bullish continuation in the next 2-3 days. Position long entries near identified support levels and manage risks with stop-loss orders near crucial support zones to mitigate potential downside. Keep an eye on broader market movements and sector-level news which could influence these trends.