Overall Sector and Industry Analysis:
Date Range Analyzed: May 6, 2024, to June 5, 2024 (30 days) in EST.
From the past 30 days’ data, it is clear that the technology sector remains strong, with key assets like NVDA observing higher trading volumes and consistent price increases. Meanwhile, healthcare and biotech sectors (represented by stocks like AMGN and REGN) have maintained relatively consistent price movements with occasional bullish volumes. However, the consumer and retail sectors (highlighted by stocks like CHWY and RRGB) show mixed volume with slight upward momentum over the past 10 days.
Noticeable Trends within Sectors:
- Technology Sector: NVDA and ASND are strong performers displaying upward price movements alongside increasing trading volumes in recent days.
- Healthcare Sector: AMGN and REGN show consistent, albeit less explosive growth.
- Consumer Sector: Mixed performance but stocks like CHWY and RRGB show potential near-term growth based on the volume.
- Biotechnology Sector: PTON and JMIA, although volatile, show periods of stabilization which might suggest an upcoming price increase.
Ticker Performance Prediction:
Likely to Go Up in the Next 2-3 Days:
- NVDA (
)
- ASND (
)
- RZLT (
)
Strong Bullish Signals:
– NVDA: Consistent upward trend and closing at highs.
– ASND: Breaking new highs with increasing volume.
Individual Stock Analysis:
NVDA:
Support Levels:
1. $1195.35
2. $1197.00
3. $1198.20
Resistance Levels:
1. $1204.92
2. $1200.00
3. $1199.93
Price Action Predictions:
Next 2-3 Trading Days:
- Price Targets:
- Near-term: $1204.50
- Short-term: $1210.00 (considering ATR movement)
- Possible Entry Points:
- Near $1198.00
- Stop-Loss Levels:
- $1195.00 (near low range of recent 30-minute candle)
ASND:
Support Levels:
1. $137.24
2. $137.51
3. $138.26
Resistance Levels:
1. $138.58
2. $139.42
3. $140.09
Price Action Predictions:
Next 2-3 Trading Days:
- Price Targets:
- Near-term: $139.50
- Short-term: $141.00 (considering ATR movement)
- Possible Entry Points:
- Near $137.50
- Stop-Loss Levels:
- $137.00 (near low range of recent 30-minute candle)
RZLT:
Support Levels:
1. $5.05
2. $5.22
3. $5.58
Resistance Levels:
1. $5.85
2. $6.00
3. $6.10
Price Action Predictions:
Next 2-3 Trading Days:
- Price Targets:
- Near-term: $6.00
- Short-term: $6.25 (considering ATR movement)
- Possible Entry Points:
- Near $5.60
- Stop-Loss Levels:
- $5.20 (near low range of recent 30-minute candle)
By assessing these levels of support and resistance, swing traders can better navigate potential entry and exit points while effectively setting stop-loss orders to manage risk.