Continuation Breakout Wednesday 2PM 8/21/2024

Overall Sector and Industry Analysis:

Datetime Range Analyzed: 2024-07-22 to 2024-08-21 (EST)

Over the past 30 days, various sectors have shown noticeable trends that are crucial for short-term momentum traders. A surge in volumes and price movements in specific sectors indicates potential opportunities for swing trades.

Sector Overview:

1. Technology:
   • Tickers: MPWR, ANET, META
   • Observation: A strong uptrend in the technology sector with considerable volume, particularly in high-growth companies such as MPWR and ANET. META also exhibited robust movements, indicating potential bullish sentiment.
2. Healthcare:
   • Tickers: HCA, THC, PEN
   • Observation: Mixed performance with HCA and THC showing gradual uptrend and increasing volumes, suggesting potential bullish activity. PEN is consolidating, but the overall trend is positive.
3. Financials:
   • Tickers: LPLA, CMI, IAG
   • Observation: LPLA and CMI displayed an increasing volume with slight upward trends, indicating accumulating phases. IAG had moderate volume but steady price action.
4. Industrial:
   • Tickers: GE, DKS, ETN, FERG
   • Observation: The industrial sector is showing strong bullish momentum, with GE, DKS, and ETN leading in performance. Enhanced volumes on upward price movements suggest interest from institutional buyers.
5. Consumer Discretionary:
   • Tickers: WSM, DKS, HLT, ANF
   • Observation: This sector remains strong with significant volatility. WSM and HLT are noteworthy as they exhibit strong high-volume breakouts, potentially pointing towards continued bullish trends.

Ticker Performance Prediction:

Likely to Go Up in the Next 2-3 Days:
– MPWR – Robust uptrend and increasing volume.
– GE – Consistent strong performance with high volume.
– WSM – High volume on bullish breakout.
– META – Continuous upward trend with high buying volume.
– ANET – Significant bullish signals with volume spikes during price increases.

Strong Bullish Signals Highlighted:
– MPWR: Breakout above key resistance with high volume.
– WSM: Sustained upward momentum with consistent volume increases.
– META: Strong bullish move on high volume suggests continuation.

Individual Stock Analysis:

MPWR:

• Support Levels:
  • 935: Previous resistance turned support.
  • 929: Intraday low support.
  • 920: Further key support level.
• Resistance Levels:
  • 950: Psychological resistance.
  • 960: Intraday high and current resistance.
  • 975: Next target if the bullish momentum continues.
• Price Action Predictions (30-Minute Chart):
  Expect continued upward movement towards 960 with potential pullbacks to 935 for consolidation.

• Price Targets:

  • Short-term: 950
  • Medium-term: 960
  • Long-term: 975
• Entry Points:
  • Near 935 on pullbacks.
• Stop-Loss Levels:
  • Around 920 to limit downside risk.
• Finviz Chart:
  

GE:

• Support Levels:

  • 171: Immediate support.
  • 170: Psychological support level.
  • 168: Key support below recent lows.
• Resistance Levels:
  • 173: Immediate resistance.
  • 175: Strong resistance above.
  • 178: Major resistance if momentum continues.
• Price Action Predictions (30-Minute Chart):
  Anticipate a move towards 173 with potential consolidation around 171.

• Price Targets:

  • Short-term: 173
  • Medium-term: 175
  • Long-term: 178
• Entry Points:
  • Near 171 on slight pullbacks.
• Stop-Loss Levels:
  • Around 169 to limit downside risk.
• Finviz Chart:
  

WSM:

• Support Levels:

  • 141: Immediate floor support.
  • 140: Near-term support.
  • 138: Strong pullback support.
• Resistance Levels:
  • 145: Immediate target.
  • 148: Higher resistance.
  • 150: Major target if momentum sustains.
• Price Action Predictions (30-Minute Chart):
  Expect upward movement towards 145, possible pullback to 141.

• Price Targets:

  • Short-term: 145
  • Medium-term: 148
  • Long-term: 150
• Entry Points:
  • Near 141 on pullbacks.
• Stop-Loss Levels:
  • Around 138 for risk management.
• Finviz Chart:
  

META:

• Support Levels:

  • 530: Near-term support.
  • 525: Key psychological support.
  • 515: Major support below the range.
• Resistance Levels:
  • 537: Immediate next resistance.
  • 545: Higher resistance level.
  • 550: Key target if volume sustains.
• Price Action Predictions (30-Minute Chart):
  Likely to retest 537 with potential consolidation around 530.

• Price Targets:

  • Short-term: 537
  • Medium-term: 545
  • Long-term: 550
• Entry Points:
  • Near 530 on price dips.
• Stop-Loss Levels:
  • Around 525 for minimizing risks.
• Finviz Chart:
  

ANET:

• Support Levels:

  • 353: Immediate support.
  • 350: Psychological support.
  • 345: Major support below the range.
• Resistance Levels:
  • 355: Immediate next resistance.
  • 360: Higher resistance level.
  • 365: Key target if bullish trend continues.
• Price Action Predictions (30-Minute Chart):
  Predicted move towards 355 with potential support test at 353.

• Price Targets:

  • Short-term: 355
  • Medium-term: 360
  • Long-term: 365
• Entry Points:
  • Near 353 on dips.
• Stop-Loss Levels:
  • Around 350 for risk control.
• Finviz Chart:
  

These analyses provide a detailed outlook based on current price actions, ensuring separated tickers likely to perform positively under current market dynamics.