Continuation Breakout Tuesday 3PM 6/04/2024

Overall Sector and Industry Analysis:

Datetime Range Analyzed (EST):
May 6, 2024 – June 4, 2024

Based on the stocks’ price and volume data from various sectors, we see mixed performance across industries in the past 30 days. The most notable performances are in technology, consumer discretionary, and healthcare sectors.

For example, SYK (Healthcare) and COST (Consumer Staples) have shown stable uptrends with considerable volume, indicating investor confidence. Meanwhile, in the technology world, BITF and IREN have shown significant price developments likely influenced by crypto market trends.

Recent 10 Days:
In the recent 10 days’ analysis, stocks like IREN and BITF have shown strong momentum, with increased trading volumes hinting at institutional interest. SYK and COST have consistent trading volumes with a slight bullish trend, indicating stability and investor trust.

Ticker Performance Prediction:

Likely to Go Up in the Next 2-3 Days:
1. IREN
2. BITF
3. SYK

Strong Bullish Signals:
– IREN: The recent price action shows a bullish pattern with strong volume support.
– BITF: Consistently closing higher with strong volume, suggesting potential upward movement.
– SYK: Strong uptrend with stable high volume indicates further upside potential.

Individual Stock Analysis:

IREN

1. Support Levels:
   • $9.00
   • $9.08
   • $9.17
2. Resistance Levels:
   • $9.39
   • $9.49
   • $9.55

Price Action Prediction (Next 2-3 Days):
– Price Target 1: $9.39
– Price Target 2: $9.55
– Entry Point: Near $9.08
– Stop-Loss: Near $8.95

BITF

1. Support Levels:
   • $2.40
   • $2.38
   • $2.41
2. Resistance Levels:
   • $2.43
   • $2.44
   • $2.45

Price Action Prediction (Next 2-3 Days):
– Price Target 1: $2.43
– Price Target 2: $2.45
– Entry Point: Near $2.40
– Stop-Loss: Near $2.35

SYK

1. Support Levels:
   • $342.20
   • $342.00
   • $341.50
2. Resistance Levels:
   • $343.53
   • $343.82
   • $344.50

Price Action Prediction (Next 2-3 Days):
– Price Target 1: $343.53
– Price Target 2: $344.50
– Entry Point: Near $342.00
– Stop-Loss: Near $341.00

Conclusion

The stocks from various sectors like IREN in the crypto mining sector, BITF in technology, and SYK in healthcare emerge as strong candidates for upward movement in the next few days. Traders should look for entry points near key support levels with appropriate stop-loss settings to manage risk.