Continuation Breakout Tuesday 1PM 8/06/2024

Overall Sector and Industry Analysis:

Date Range:
From 2024-07-06 to 2024-08-05 (all analysis is performed in Eastern Standard Time (EST)).

Commentary on Overall Sector and Industry Performance:

Based on the stocks provided, the data encapsulates a diverse range of sectors. A close look at the price and volume trends over the past 30 days reveals varying levels of momentum, market interest, and potential opportunities for short-term swing trades.

1. Energy Sector (MPC):
   • Marathon Petroleum Corporation (MPC) showed moderate fluctuation in price over the past 30 days, with slightly increasing volume, indicating potential accumulation or distribution phases.
2. Financial Sector (BLK):
   • BlackRock, Inc. (BLK) had stable price levels with low volatility and consistent volume. This can be seen as a sector responding cautiously to macroeconomic data, indicating a stable, long-term outlook, rather than short-term momentum.
3. Technology Sector (CVLT, TKNO):
   • Commvault Systems, Inc. (CVLT) and AlphaTech, Inc (TKNO) both present clear trends with higher volume near the end of the analysis period. These stocks could indicate rising interest, especially with CVLT bouncing off potential support zones.
4. Consumer Discretionary (HD, VTVT):
   • Home Depot (HD) displayed a significant fluctuation in price with impressive volume spikes, reflecting potential buy-side interest.
   • vTv Therapeutics (VTVT), on the other hand, showed rapid price increases over past recent trading days, with notably higher volumes, indicative of speculative trading or positive news catalysts.
5. Industrial Sector (NSC, RTX, ALLE, FTDR):
   • Norfolk Southern Corporation (NSC) maintains steady, low volume movements suggesting long-term holding patterns.
   • Raytheon Technologies Corporation (RTX) experienced modest price declines with moderate volume.
   • Allegion Plc (ALLE) presented very slight volatility and equally minimal volume oscillation.
   • Frontdoor, Inc. (FTDR) reveals typical consolidation zones with a slight bullish trend in price and volume behavior.
6. Construction Supplies (BLDR):
   • Builders FirstSource (BLDR) showcases significant price movement with relative volume increases, key for swing trading movement.

Noticeable Trends or Patterns:

The most noticeable trend across these stocks is a mix between sectors that are holding positions (like BLK, ALLE, and NSC) versus sectors showing potential breakthrough or momentum patterns (such as CVLT, HD, and VTVT).

Highlighted Tickers for Bullish Signals:

1. VTVT
2. HD
3. CVLT
4. BLDR

Ticker Performance Prediction:

VTVT shows potential for strong bullish momentum based on recent volume spikes and price movements.
HD is likely to go up, seeing the rebound in price.
CVLT is showing signs of a breakout above recent resistance levels.
BLDR has bullish movement evidenced by strong volume and a firm breakthrough of recent resistance levels.

Individual Stock Analysis:

1. vTv Therapeutics (VTVT):
– Support Levels:
– $14.50
– $14.00
– $13.70
– Resistance Levels:
– $15.50
– $16.00
– $16.84
– Price Action Prediction:
– Likely push towards $15.50 within the next 1-2 days.
– Price Targets:
– Near Term: $15.50
– Medium Term: $16.00
– Long Term: $16.84
– Entry Point: Around $14.50
– Stop-Loss: Below $14.00
– Finviz Chart:

2. Home Depot (HD):
– Support Levels:
– $352.00
– $350.00
– $348.00
– Resistance Levels:
– $356.50
– $358.00
– $360.00
– Price Action Prediction:
– Likely to test $356.50 within the next 1-2 days.
– Price Targets:
– Near Term: $356.50
– Medium Term: $358.00
– Long Term: $360.00
– Entry Point: Around $352.00
– Stop-Loss: Below $348.00
– Finviz Chart:

3. Commvault Systems, Inc. (CVLT):
– Support Levels:
– $140.00
– $139.00
– $138.00
– Resistance Levels:
– $142.50
– $143.00
– $144.00
– Price Action Prediction:
– Expected breakout above $142.50 within 1-2 days.
– Price Targets:
– Near Term: $142.50
– Medium Term: $143.00
– Long Term: $144.00
– Entry Point: Around $140.00
– Stop-Loss: Below $138.00
– Finviz Chart:

4. Builders FirstSource (BLDR):
– Support Levels:
– $155.00
– $153.00
– $151.00
– Resistance Levels:
– $157.00
– $158.00
– $160.00
– Price Action Prediction:
– Likely to test $157.00 within the next 1-2 days.
– Price Targets:
– Near Term: $157.00
– Medium Term: $158.00
– Long Term: $160.00
– Entry Point: Around $155.00
– Stop-Loss: Below $151.00
– Finviz Chart:

This provides a comprehensive analysis considering recent data for swing trading opportunities. Please review the predictions with the current market context as sentiment can rapidly change with new information.