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Continuation Breakout Tuesday 4PM 8/20/2024

August 20, 2024 3 min read

Overall Sector and Industry Analysis

Date Range Analyzed: August 20, 2023, to September 20, 2023 (EST)

Sector and Industry Performance:

  1. Technology Sector:
    The technology sector has shown mixed performance over the last 30 days. Notable tickers like MSFT, FN, and ANET have demonstrated varying levels of volatility. However, the recent 10-day volume in MSFT and FN suggests increased interest, indicating potential bullish movements.

  2. Healthcare Sector:
    Within the healthcare sector, stocks like LLY, CPRX, and VRNA have shown a strong upward trajectory in both price and volume. LLY stands out with considerable trading activity and a steady climb in its stock price over the analyzed period.

  3. Consumer Discretionary:
    Brands like LULU and ORLY have exhibited strong performances driven by strong consumer demand. Both stocks have shown significant price appreciation and increased volume, indicating strong market sentiment.

  4. Industrial Sector:
    Stocks like NOC and HII have shown stable, albeit slower, growth compared to other sectors. Despite this, the increased volume in these stocks suggests they’re being closely watched by investors.

  5. Energy Sector:
    SDIG has stood out within the energy sector with substantial volume spikes, although its price action has been more volatile, indicating a speculative interest from traders.

Noticeable Trends and Patterns:

  • Increased Volume in Technology Stocks: Particularly in FN and MSFT, suggesting potential bullish behavior driven by fundamental or news-based catalysts.
  • Consistent Growth in Healthcare: Both in price and volume, specifically in LLY, which indicates strength and investor confidence in the sector.
  • High Volatility in Energy: SDIG has shown erratic price movements but with significant volume, presenting opportunities for short-term trades.

Ticker Performance Prediction

Likely to Go Up in the Next 2-3 Days:

  1. MSFT
  2. LLY
  3. CPRX
  4. LULU
  5. ANET

Individual Stock Analysis

Microsoft (MSFT) finviz dynamic chart for  MSFT

Support Levels:
– $422.50
– $419.75
– $417.00

Resistance Levels:
– $426.50
– $428.50
– $430.00

Price Action Prediction (30-minute chart):
Entry Point: Around $422.50 near the key support level.
Price Targets: $426.50 (near-term resistance), $428.50, and $430.00 (extended target based on ATR).
Stop-Loss: $418.00, just below the second key support.

Eli Lilly and Company (LLY) finviz dynamic chart for  LLY

Support Levels:
– $946.00
– $942.50
– $939.00

Resistance Levels:
– $950.50
– $954.00
– $958.00

Price Action Prediction (30-minute chart):
Entry Point: Around $946.50
Price Targets: $950.50 (short-term), $954.00 (next resistance), and $958.00 (extended ATR target).
Stop-Loss: $941.00

Catalyst Pharmaceuticals (CPRX) finviz dynamic chart for  CPRX

Support Levels:
– $20.00
– $19.75
– $19.50

Resistance Levels:
– $20.70
– $21.00
– $21.50

Price Action Prediction (30-minute chart):
Entry Point: Around $20.00 near key support.
Price Targets: $20.70 (near-term), $21.00 (next resistance), and $21.50 (extended target).
Stop-Loss: $19.40

Lululemon Athletica Inc. (LULU) finviz dynamic chart for  LULU

Support Levels:
– $259.00
– $257.50
– $255.00

Resistance Levels:
– $262.00
– $263.50
– $265.00

Price Action Prediction (30-minute chart):
Entry Point: Around $259.00
Price Targets: $262.00 (near-term resistance), $263.50, and $265.00 (extended target based on ATR).
Stop-Loss: $256.50

Arista Networks, Inc. (ANET) finviz dynamic chart for  ANET

Support Levels:
– $353.00
– $350.00
– $347.50

Resistance Levels:
– $356.00
– $358.00
– $360.00

Price Action Prediction (30-minute chart):
Entry Point: Around $353.00
Price Targets: $356.00 (near-term), $358.00, and $360.00 (extended target based on ATR).
Stop-Loss: $349.50


Ensure to continually monitor market conditions and adjust your trading strategy based on updated data and news that impacts these stocks. Use proper risk management techniques in all trades.

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