Continuation Breakout Tuesday 1PM 7/30/2024

Overall Sector and Industry Analysis

Datetime Range Analyzed: 2024-07-01 to 2024-07-30 (EST)

During the past 30 days, various sectors and industries have shown a mixed performance based on the stocks’ price and volume data provided. Here are some key observations and trends:

1. Technology Sector:
   • Notable Trends: Stocks like SOXS and SSG have seen significant movements, especially in the last 10 days. SOXS has shown a strong upward trend, indicating a bearish sentiment towards the semiconductor industry, as SOXS is an inverse ETF.
   • Key Tickers Referenced: SOXS, SSG
2. Healthcare Sector:
   • Notable Trends: Stocks such as ABBV, UNH, and MOH have experienced moderate to strong bullish trends. UNH, in particular, has shown strong momentum in the past two weeks with increased volumes supporting the upward trend.
   • Key Tickers Referenced: ABBV, UNH, MOH
3. Energy Sector:
   • Notable Trends: Energy stocks like VLO and BOIL have displayed varying levels of volatility. VLO’s recent price action indicates potential upward momentum fuelled by higher trading volumes.
   • Key Tickers Referenced: VLO, BOIL
4. Consumer Discretionary:
   • Notable Trends: Stocks such as WING have seen declines with significant volumes, indicating bearish activity. This may present potential short opportunities.
   • Key Tickers Referenced: WING
5. Industrials:
   • Notable Trends: Aerospace and defense stocks like NOC and RTX have shown moderate upward momentum, supported by steady volume.
   • Key Tickers Referenced: NOC, RTX

Ticker Performance Prediction

Likely to Go Up in the Next 2-3 Days:

1. UNH — Strong bullish signals, supported by increased volumes.
2. VLO — Consistent upward momentum with solid support levels.
3. NOC — Positive price action with steady volume.

Individual Stock Analysis

UNH (UnitedHealth Group Inc):
– Support Levels: $575.00, $573.50, $572.00
– Resistance Levels: $578.00, $580.50, $582.00
– Price Action Prediction: Expect upward movement, potentially hitting around $578.00 – $580.50 within the next 2-3 trading days.
– Price Targets: $578.00, $580.50
– Entry Point: Around $574.00
– Stop-Loss Level: Near $573.00

VLO (Valero Energy Corporation):
– Support Levels: $161.00, $160.50, $159.80
– Resistance Levels: $162.80, $163.50, $164.20
– Price Action Prediction: Momentum suggests a rise towards $162.80 – $163.50.
– Price Targets: $162.80, $163.50
– Entry Point: Around $160.80
– Stop-Loss Level: Near $159.50

NOC (Northrop Grumman Corporation):
– Support Levels: $482.00, $480.50, $479.00
– Resistance Levels: $484.00, $485.50, $487.00
– Price Action Prediction: Upward movement expected likely to see prices around $484.00 – $485.50.
– Price Targets: $484.00, $485.50
– Entry Point: Around $480.50
– Stop-Loss Level: Near $479.00

Price Action Prediction Based on 30-Minute Chart:

For the next 2-3 trading days, the following price action predictions are based on the 30-minute chart pattern observations and momentum analysis:

1. UNH: Potential rise to around $578.00 – $580.50 based on strong recent momentum and support holding firm at $574.00.
2. VLO: The stock shows signs of reaching $162.80 – $163.50, with energy prices supporting further gains.
3. NOC: Northrop Grumman is likely to see prices rise to $484.00 – $485.50 given the steady volume and positive price action.

Based on the Daily ATR (Average True Range) and recent patterns, volatility should be monitored. Adjust price targets and stop-loss levels as per real-time data to minimize risk.