Overall Sector and Industry Analysis:
Datetime Range Analyzed in EST: May 26, 2024, to June 25, 2024
Over the past 30 days, we’ve seen varying performances across different sectors and industries, driven by several macroeconomic factors, earnings reports, and geopolitical events. The technology sector, exemplified by tickers such as COE, ONTO, and CRWD, has experienced some volatility with a mix of bullish and bearish days, but overall it has shown resilience with notable uptrends in certain stocks. Meanwhile, the healthcare sector, represented by stocks like ECX and SILK, has had more sideways movement with less pronounced momentum.
Notable Trends and Patterns:
1. Technology Sector: ONTO, CRWD, and PANW have displayed stronger than usual buying volumes over the last 10 days, particularly on days when higher highs and higher lows were observed.
2. Healthcare Sector: REGN and SILK have seen significant volume spikes, correlating with slight upward price movements, hinting at institutional buying.
3. Consumer Goods: APPF and ELF have depicted some strong bullish candles with higher volumes, suggesting bullish momentum continuing into the next week.
4. Energy and Utilities: SMR showed a noticeable increase in volume with upward price trend, indicating potential continuation of bullish trend.
Ticker Performance Prediction:
Based on our analysis, the following stocks are likely to see upward movement in the next 2-3 days:
- ONTO: Strong bullish signals and higher than usual volume.
- APPF: Sustained uptrend with consistent higher volume.
- CRWD: Recent spike in purchase volume, forming higher highs.
- REGN: Technical indicators suggest bullish signs, supported by volume.
Individual Stock Analysis:
ONTO (Onto Innovation)
- Support Levels: $217.58, $217.00, $216.50
- Resistance Levels: $219.34, $220.00, $221.50
- Price Action Prediction: ONTO is showing bullish momentum with potential to test resistance levels at $220. Expected range for 1-3 day swing is $217.58 – $221.50. Entry near $217.58 support level could target a move towards $219.34 and $220.
- Possible Entry Points: Near $217.58
- Stop-Loss Levels: Near $216.50
- Finviz Chart:
APPF (AppFolio Inc.)
- Support Levels: $233.260, $233.090, $232.50
- Resistance Levels: $235.700, $236.245, $237.00
- Price Action Prediction: APPF’s bullish trend is suggested to continue with entry points near $233.26, aiming to reach resistance levels at $235.70 and $236.25. Likely movement within $233.26 – $237 range.
- Possible Entry Points: Near $233.26
- Stop-Loss Levels: Near $232.50
- Finviz Chart:
CRWD (CrowdStrike Holdings Inc.)
- Support Levels: $382.18, $382.040, $381.00
- Resistance Levels: $386.00, $387.810, $389.00
- Price Action Prediction: CRWD likely to test higher resistance due to recent volume patterns. Entry near $382.18 with targets at $386 and $387.81 expected. Movement range $382.18 – $389.
- Possible Entry Points: Near $382.18
- Stop-Loss Levels: Near $381.00
- Finviz Chart:
REGN (Regeneron Pharmaceuticals Inc.)
- Support Levels: $1072.48, $1070.29, $1069.23
- Resistance Levels: $1078.99, $1080.00, $1090.00
- Price Action Prediction: REGN showing bullish signs with potential upward swing near $1080 resistance. Expect range $1072.48 – $1090. Entry near $1072.48 for targets $1078.99 and $1080.
- Possible Entry Points: Near $1072.48
- Stop-Loss Levels: Near $1070.29
- Finviz Chart:
Conclusion:
The above analyses are suggestive of short-term bullish movements which fit well within a 1-3 day swing trading framework. Investors should monitor volume patterns and price actions closely at the identified support and resistance levels for precise entry and exit strategies.