Overall Sector and Industry Analysis:
Datetime Range Analyzed (EST):
From June 16, 2024, to July 16, 2024.
Commentary on Overall Sector and Industry Performance:
The overall market has shown resilient strength over the past month despite rising macroeconomic concerns. Several sectors have demonstrated sector-specific momentum, suggesting substantial capital inflows. Volume surges and price developments indicate bullish sentiment in biotechnology, building products, and financials. For instance, stocks such as NAIL (Direxion Daily Homebuilders & Supplies Bull 3X Shares) and DHI (D.R. Horton Inc.) have experienced significant upward momentum, supported by rising volumes. Conversely, sectors like health technology and consumer services have displayed mixed signals, with certain stocks plateauing after recent rallies.
Noticeable Trends or Patterns:
1. Biotechnology Sector:
− Stocks such as CDMO (Avid Bioservices Inc.) and INMB (INmune Bio, Inc.) are showing strong price momentum. INMB has been trending with increasing volume, suggesting institutional accumulation.
- Building Products Sector:
− Stocks like BLDR (Builders FirstSource Inc.) and DHI (D.R. Horton Inc.) have shown strong upward price momentum with supportive volume, indicating buyer interest. -
Financial Sector:
− Financial heavyweights such as FCNCA (First Citizens BancShares Inc.) continue to head higher, with significant volume sustaining price movements.
Ticker Performance Prediction:
Likely to Go Up in Next 2-3 Days:
1. INMB (INmune Bio, Inc.)
2. DHI (D.R. Horton Inc.)
3. BLDR (Builders FirstSource Inc.)
4. CDMO (Avid Bioservices Inc.)
5. NAIL (Direxion Daily Homebuilders & Supplies Bull 3X Shares)
Strong Bullish Signals:
– INMB: Clear accumulation pattern in the last few days with higher lows and higher highs.
– BLDR: Strong breakouts indicated by the rising volume and consecutive days of upward movement.
Individual Stock Analysis:
1. INMB (INmune Bio, Inc.)
Support Levels:
1. $9.87
2. $9.91
3. $9.82
Resistance Levels:
1. $10.02
2. $10.08
3. $10.20
Price Action Prediction (Next 2-3 Days):
– Expect a bullish continuation if $9.87 holds as support. Likely to test $10.08, with possible target towards $10.20 within next 1-3 days based on current momentum.
Multiple Price Targets:
– Near target: $10.08
– Further target: $10.20
– Based on 30-minute chart bullish patterns.
Entry Points:
– Near support level at $9.87.
Stop-Loss Levels:
– Below $9.82.
Finviz Chart:
–
2. DHI (D.R. Horton Inc.)
Support Levels:
1. $159.84
2. $159.92
3. $160.10
Resistance Levels:
1. $160.70
2. $160.80
3. $161.00
Price Action Prediction (Next 2-3 Days):
– Likely bullish continuation if support at $159.84 holds. Potential to reach $160.80 and higher based on continued bullish volume.
Multiple Price Targets:
– Near term: $160.80
– Further target: $161.00
– Based on daily ATR movement.
Entry Points:
– Near $159.84 support.
Stop-Loss Levels:
– Below $159.02 to minimize risk.
Finviz Chart:
–
3. BLDR (Builders FirstSource Inc.)
Support Levels:
1. $162.20
2. $161.83
3. $160.71
Resistance Levels:
1. $163.68
2. $164.00
3. $165.00
Price Action Prediction (Next 2-3 Days):
– Strong continuation expected if $161.83 support maintains. May target $164.00 to $165.00 with current volume and momentum.
Multiple Price Targets:
– Near term: $163.68
– Further target: $165.00
– Based on bullish breakout levels on the 30-minute timeframe.
Entry Points:
– Around $161.83 for potential upside.
Stop-Loss Levels:
– Just under $160.71 for limited risk.
Finviz Chart:
–
4. CDMO (Avid Bioservices Inc.)
Support Levels:
1. $9.32
2. $9.35
3. $9.24
Resistance Levels:
1. $9.48
2. $9.57
3. $9.60
Price Action Prediction (Next 2-3 Days):
– Expecting bullish continuation contingent on holding support at $9.32. Targets around $9.48 and likely higher towards $9.57.
Multiple Price Targets:
– Initial: $9.48
– Further: $9.57
– Derived from the recent volume patterns and price actions.
Entry Points:
– Entry near $9.32 for a favorable risk/reward ratio.
Stop-Loss Levels:
– Positioned under $9.24.
Finviz Chart:
–
5. NAIL (Direxion Daily Homebuilders & Supplies Bull 3X Shares)
Support Levels:
1. $128.22
2. $127.91
3. $127.69
Resistance Levels:
1. $129.47
2. $129.75
3. $130.00
Price Action Prediction (Next 2-3 Days):
– Potential bullish move towards $129.47-$130.00 assuming the $127.91 support sustains.
Multiple Price Targets:
– Initial: $129.47
– Further: $130.00
– Analyzed based on the volume surges and price pattern.
Entry Points:
– Strategically around $127.91.
Stop-Loss Levels:
– Sensibly placed below $127.69.
Finviz Chart:
–
Summary:
This analysis highlights potential short-term bullish opportunities within the biotechnology and building products sectors, focusing on increased volume to identify probable swings. Risk management and clear entry/exit strategies are emphasized with identified support and resistance levels.