Continuation Breakout Wednesday 3PM 10/02/2024

Overall Sector and Industry Analysis

Datetime Range Analyzed: From September 3, 2024 to October 2, 2024, in EST.

Reviewing the stock data across various sectors and industries over the past 30 days with an emphasis on the most recent 10-day performance, we observe several trends and patterns that are crucial for momentum-based swing trading.

1. Construction and Engineering: Stocks like PWR, EME, and MTZ indicate consolidation with potential breakout, thanks to increased volume and steady pricing in recent sessions. PWR, specifically, showed signs of accumulation with a slight increase in volume over the last few days.

2. Technology and Electronic Manufacturing: Companies in this sector, such as HUBB and SITM, exhibited steady price movements with HUBB showing an upward momentum, backed by increasing volume, possibly driven by sector rotations into tech stocks.

3. Financial Services: BLK and LPLA are maintaining stability within support zones, although with BLK, we can see a higher volume turnover on approaching resistance levels, signaling possible upward movements if it breaks through these resistances.

4. Consumer Discretionary: Retail and consumer-oriented companies like BOOT displayed rising momentum, particularly with recent price upticks that suggest strong consumer demand and positive earnings outlooks potentially fueling further growth.

Overall, a balanced mix of consolidation, breakouts, and retracements were observed suggesting potential opportunities across multiple sectors, especially in renewable and tech-forward industries.

Ticker Performance Prediction

Stocks showing strong bullish signals and predicted to rise over the next 2-3 days include:

• PWR: Noticeable upward momentum and increasing volume.
• LPLA: Stable accumulation indicated by rising closes and volume consistency.
• HUBB: Positive price action coupled with persistent volume spikes suggesting interest.
• BOOT: A potential rally is indicated by recent breakout through resistance levels.

These stocks are likely to benefit from industry trends and investor sentiment in the coming days.

Individual Stock Analysis

PWR

1. Support Levels: 297.64, 297.28, 297.58
2. Resistance Levels: 298.58, 299.22, 299.78
3. Price Action Prediction: Expecting a retest of support at 297.28 followed by a potential drive towards 299.78. Key entry point near 297.58.
4. Price Targets: 298.58, 299.22, 299.78 based on daily ATR.
5. Stop-Loss: Below 297.28 to protect against adverse moves.
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LPLA

1. Support Levels: 227.57, 227.10, 226.70
2. Resistance Levels: 230.43, 228.90, 229.23
3. Price Action Prediction: Likely continuation towards 229.23 or higher, following stable higher lows formation.
4. Price Targets: Initial movement target at 228.90 potentially extending to 230.43.
5. Stop-Loss: Secure against volatility with a stop at 226.70.
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HUBB

1. Support Levels: 426.39, 425.76, 425.31
2. Resistance Levels: 427.93, 427.62, 427.65
3. Price Action Prediction: Anticipate further upside, momentum particularly strong with pivotal supports holding.
4. Price Targets: Aim for 427.62 and potentially reaching 427.93.
5. Stop-Loss: Set below 425.31 for risk management.
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BOOT

1. Support Levels: 168.36, 167.03, 166.56
2. Resistance Levels: 168.80, 168.79, 168.45
3. Price Action Prediction: Continuous climb expected, needs to maintain above 167.03 for confirmation.
4. Price Targets: Immediate targets at 168.79 and stretch target to 168.80.
5. Stop-Loss: Protective stop near 166.56 in case of unexpected pullbacks.
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Traders should adjust strategies accordingly, considering the quick nature of swing setups and shifts in sentiment and volume indicators across these diverse tickers.