Continuation Breakout Tuesday 4PM 10/15/2024

Overall Sector and Industry Analysis:

Date Range Analyzed: September 15, 2024 to October 15, 2024 (EST)

Over the past 30 days, there have been varied movements across different sectors, with some stock tickers displaying more favorable trends than others. Noteworthy observations include:

1. Travel and Leisure Sector (RCL, NCLH): This sector shows mixed trends. NCLH experienced a decline in the last session on higher volume, indicating potential selling pressure. In contrast, RCL is showing signs of stability with moderate volume.

2. Healthcare and Pharmaceuticals (HROW, MCK, CALM): The performance here was generally stable. MCK displayed some volatility but managed to close relatively strong, while HCA showed a downtrend indicating pressure in hospital-based services. CALM had a more balanced performance but needs monitoring as it experiences high volatility.

3. Tech and Internet Software (FROG, ATYR): Mixed performance with FROG showing a recent sharp decline, indicating bearish momentum. ATYR, on the other hand, maintained stability after a minor dip.

4. Financial Services (MCO, CPAY): These stocks have shown resilience and stability. MCO’s performance shows consolidation near the mid-range, while CPAY ended with a slight upward bias into the close.

5. Consumer Goods and Retail (BKNG, AMLX): AMLX displayed stability with potential for growth, while BKNG, a heavyweight, showed intraday volatility but recovered into the close.

Ticker Performance Prediction:

1. MCO: Likely to see a short-term upside given its stabilizing behavior after recovery from a recent dip.
2. ATYR: Expected to rise in the short term due to its recent bullish candles and stable volume.
3. AMLX: Shows potential bullish movement with steady last sessions and accumulation patterns.
4. HROW: Despite recent consolidations, this stock has shown previous bullish momentum and can potentially break above resistance levels.

Individual Stock Analysis:

MCO (Moody’s):

• Support Levels: 485 / 487 / 490
• Resistance Levels: 495 / 500 / 505
• Price Action Prediction: Expect MCO to potentially test the higher 495 resistance if momentum sustains. Look for a potential breakout above 495 in the next 2-3 days if volume supports.
• Entry Point: Near 487 where there seems to be consolidation and lower risk for upward movement.
• Stop-Loss Level: 485 to minimize risks below key support.
• Price Targets: 495 (1-2 days), 500 or higher if bullish momentum sustains.
• Finviz Chart:
  

ATYR (aTyr Pharma):

• Support Levels: 2.70 / 2.75 / 2.80
• Resistance Levels: 2.85 / 3.00 / 3.10
• Price Action Prediction: Strong potential to test upper band at 2.85, moving towards 3.00. Bullish sentiment likely to be confirmed if trading above 3.00 with sustained volume.
• Entry Point: Look for positions near 2.75 where a prior support has been confirmed.
• Stop-Loss Level: 2.70 to limit downside risk.
• Price Targets: 2.85 (primary), 3.00 (extended target).
• Finviz Chart:
  

AMLX (Amylyx Pharmaceuticals):

• Support Levels: 3.85 / 3.90 / 4.00
• Resistance Levels: 4.15 / 4.20 / 4.30
• Price Action Prediction: Possibility of rallying towards the 4.15 and 4.20 levels with stable volume. Watch for breakout signals above the consolidated high.
• Entry Point: Around 3.90 where support consolidation was evident recently.
• Stop-Loss Level: 3.85 if bearish patterns emerge.
• Price Targets: 4.15 initially, stretching to 4.30 on a momentum breakout.
• Finviz Chart:
  

HROW (Harrow Health):

• Support Levels: 53.00 / 53.20 / 53.50
• Resistance Levels: 54.00 / 54.50 / 55.00
• Price Action Prediction: Potential upward breakout likely towards 54.00 and 54.50 with last observed bullish patterns.
• Entry Point: Around 53.20 as it appears a strong support with potential buying interest.
• Stop-Loss Level: 53.00 to manage trade risk.
• Price Targets: 54.00 and extend towards 54.50.
• Finviz Chart:
  

This analysis aims to provide actionable insights with potential scenarios, emphasizing using firm stop-losses based on past performance trends. Traders should carefully monitor volume spikes and broader market indicators to confirm these expectations.