Overall Sector and Industry Analysis
Datetime Range Analyzed (EST): June 17, 2024, to July 17, 2024
The period from June 17 to July 17, 2024, has seen varied performance across sectors. The volume and price action provide a comprehensive overview of the short-term trends and sentiments within various industries.
Technology Sector:
- MA (Mastercard Inc.) and NXPI (NXP Semiconductors) have shown considerable bullish momentum with increasing volumes notably in the last 10 trading days. MA witnessed a breakout above the $445 mark with consistent higher highs.
- ADSK (Autodesk Inc.) and AMGN (Amgen Inc.) exhibit steady performance; however, they appear to be consolidating with a potential breakout imminent.
Financial Sector:
MCO (Moody’s Corp.) displayed strong bullish trends, significantly breaking through resistance around $450. Increased volume hints at institutional accumulation.
Health Sector:
- UTHR (United Therapeutics Corp.), RMD (ResMed Inc.), ALGN (Align Technology) are all showing bullish technical setups. ALGN particularly made significant strides with continuous buying pressure manifesting in higher daily volume.
- PEN (Penumbra Inc.) and IDXX (IDEXX Laboratories) also show bullish price action, suggesting potential short-term upward moves.
Real Estate Sector:
ARE (Alexandria Real Estate Equities Inc.), SBAC (SBA Communications), and AMT (American Tower) have witnessed steady growth, particularly in the last ten days, becoming prime candidates for short-term gains.
Miscellaneous:
- RLAY (Relay Therapeutics Inc.) and EGRX (Eagle Pharmaceuticals Inc.) showed some volatility but held up strong in terms of price action near key support levels.
- ATNF (180 Life Sciences Corp.) has displayed a considerable surge in volume, indicating a potential bullish reversal.
Ticker Performance Prediction
Likely to Go Up in the Next 2-3 Days:
- MA (Mastercard Inc.)
- NXPI (NXP Semiconductors)
- MCO (Moody’s Corp.)
- ALGN (Align Technology)
- IDXX (IDEXX Laboratories)
- AMT (American Tower)
Showing Strong Bullish Signals:
- MA (Mastercard Inc.)
- NXPI (NXP Semiconductors)
- IDXX (IDEXX Laboratories)
- ALGN (Align Technology)
Individual Stock Analysis
MA (Mastercard Inc.)
Support Levels:
- $448.00
- $445.00
- $443.00
Resistance Levels:
- $450.00
- $452.00
- $455.00
Price Action Prediction:
As Mastercard continues to challenge resistance levels, the next target over the next 2-3 days could touch $452, potentially reaching $455 by week’s end if volume continues supporting the rally.
Entry Point: Near $448.00
Stop-Loss: Close below $443.00
NXPI (NXP Semiconductors)
Support Levels:
- $289.00
- $285.00
- $282.00
Resistance Levels:
- $293.00
- $296.00
- $299.00
Price Action Prediction:
NXPI’s breakout from $291 indicates a bullish trajectory. Expected to hit $296 within 2-3 days, potentially testing $299 if momentum persists.
Entry Point: Near $289.00
Stop-Loss: Close below $285.00
MCO (Moody’s Corp.)
Support Levels:
- $452.00
- $450.00
- $448.00
Resistance Levels:
- $457.00
- $460.00
- $463.00
Price Action Prediction:
An upward movement is anticipated with targets near $457 in the next two days, with potential to break $460.
Entry Point: Near $452.00
Stop-Loss: Close below $448.00
ALGN (Align Technology)
Support Levels:
- $250.00
- $248.00
- $245.00
Resistance Levels:
- $253.00
- $255.00
- $258.00
Price Action Prediction:
Short-term price target of $253, with potential extension towards $258 based on continuation patterns and volume surge.
Entry Point: Near $250.00
Stop-Loss: Close below $245.00
IDXX (IDEXX Laboratories)
Support Levels:
- $496.00
- $492.00
- $488.00
Resistance Levels:
- $504.00
- $508.00
- $513.00
Price Action Prediction:
IDXX is expected to climb towards $504, looking at a potential breakthrough up to $508 if the support level holds strong.
Entry Point: Near $496.00
Stop-Loss: Close below $488.00
AMT (American Tower)
Support Levels:
- $211.00
- $209.50
- $208.00
Resistance Levels:
- $213.00
- $214.50
- $216.00
Price Action Prediction:
AMT’s resistance zone near $213 needs to be watched. It may test $214.50 soon, with a likely advance towards $216.
Entry Point: Near $211.00
Stop-Loss: Close below $208.00
Based on the analysis, these stocks have shown consistent momentum and elevated volumes that suggest strong short-term bullish activity, making them appropriate for swing trading in the upcoming days.