Continuation Breakout Tuesday 4PM 7/16/2024

Overall Sector and Industry Analysis:

Datetime Range Analyzed: June 16, 2024 – July 16, 2024, in Eastern Standard Time (EST)

Commentary:
Analyzing the stock market data for the past 30 days, we have identified notable trends and price-volume actions across various sectors and industries.

1. Technology Sector:
   • Stocks: AMGN, NTLA, TWLO, ONTO, SGHT
   • Analysis: This sector showed a general uptrend, with consistent gains supported by increasing volume, especially over the past 10 days. ONTO and TWLO exhibited strong momentum, suggesting continued bullish behavior.
2. Healthcare Sector:
   • Stocks: BFRI, HRTX, KOD, REAX, NKTX, HE, RVNC, OLMA
   • Analysis: Stock prices in the healthcare sector showed mixed behavior. Leaders like BFRI and KOD showed unusually high volume on price upticks, indicating strong bullish sentiment. On the other hand, HRTX and HE faced some resistance, suggesting potential pullbacks.
3. Finance Sector:
   • Stocks: GTHX, GLW, AMWL
   • Analysis: Financial stocks generally showed stability with minor fluctuations. However, GTHX and GLW indicated forming support around their current levels, setting the stage for a potential breakout.
4. Industrial Sector:
   • Stocks: ITW, PHM, MDY
   • Analysis: This sector demonstrated strong performance, especially in stocks like ITW and PHM, which have been riding a steady uptrend with increased volume over the past 10 days.
5. Consumer Discretionary:
   • Stocks: R, LEN, HD, TSCO, RH, LOVE
   • Analysis: This sector showed resilience. Stocks like TSCO and HD recorded significant volumes correlating with price increases, suggesting sustained buying interest. LEN also stood as a strong performer with a noticeable breakout in volume and price.

Ticker Performance Prediction:

Likely to Increase in Next 2-3 Days:
1. BFRI – Bullish signals with increased volume and price.
2. KOD – Consistent uptrend with high volume, suggesting further gains.
3. ONTO – Technological consolidations indicate bullish sentiment.
4. TSCO – Stable uptrend with elevated volume.

Individual Stock Analysis:

BFRI:

• Support Levels:
  1. $1.15
  2. $1.12
  3. $1.10
• Resistance Levels:
  1. $1.20
  2. $1.25
  3. $1.30
• Price Action Predictions: Outlook is bullish for the next 2-3 days with price targets at $1.25 and $1.30 based on current momentum and ATR (Average True Range).
• Entry Points: Around $1.15 (support level).
• Stop-Loss Levels: At $1.12, just below the last noticeable support level.
• Finviz Chart:

KOD:

• Support Levels:
  1. $3.22
  2. $3.20
  3. $3.18
• Resistance Levels:
  1. $3.26
  2. $3.30
  3. $3.35
• Price Action Predictions: Expected targets are $3.30 and $3.35 within the next 2-3 days, in view of recent volume support.
• Entry Points: Around $3.22.
• Stop-Loss Levels: Near $3.20.
• Finviz Chart:

ONTO:

• Support Levels:
  1. $234.00
  2. $232.00
  3. $230.00
• Resistance Levels:
  1. $236.00
  2. $238.00
  3. $240.00
• Price Action Predictions: Targeting $238.00 to $240.00 in the next few trading days.
• Entry Points: At $234.00 support.
• Stop-Loss Levels: At $232.00.
• Finviz Chart:

TSCO:

• Support Levels:
  1. $282.00
  2. $281.00
  3. $280.00
• Resistance Levels:
  1. $283.20
  2. $284.00
  3. $285.00
• Price Action Predictions: Looking at $284.00 and $285.00 as immediate targets.
• Entry Points: Near $282.00.
• Stop-Loss Levels: Around $280.00.
• Finviz Chart:

Conclusion:

The stocks BFRI, KOD, ONTO, and TSCO show strong potential for upward movement over the next few trading days. Active monitoring is suggested for identified support and resistance levels for optimal trading decisions. Ensure to adjust entry and stop-loss levels according to real-time market movements.