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Continuation Breakout Wednesday 3PM 5/29/2024

May 29, 2024 2 min read

Based on the provided data, here is the analysis for the mentioned stocks:

Overall Sector and Industry Analysis:
– The technology sector appears to be performing well based on the stock movements of MSFT, NFLX, XNET, and ASTS, which show positive closes and substantial volume.
– The healthcare sector, represented by LLY and BGNE, also shows positive price movements and significant volumes.

Ticker Performance Prediction:
– Stocks likely to go up in the next 2-3 days: MSFT, NFLX, LLT, MELI, and ASTS.
– Strong bullish signals are observed in stocks such as MSFT, MELI, NFLX, and ASTS.

Individual Stock Analysis:

MSFT:
– Support levels: $425.26, $425.50, $425.30
– Resistance levels: $426.67, $425.75, $426.00
– Price action prediction: MSFT is likely to continue its upward trend in the next 2-3 days. Entry near $425.50 could be considered, with a stop-loss at $425. Support levels should hold at $425.30.

LLY:
– Support levels: $808.91, $810.17, $811.00
– Resistance levels: $811.54, $812.78, $814.16
– Price action prediction: LLY shows bullish signals and is likely to go up. Entry near $810.94 with a stop-loss at $808.91 could be considered.

MELI:
– Support levels: $1698.52, $1703.67, $1707.11
– Resistance levels: $1709.78, $1710.70, $1709.86
– Price action prediction: MELI might continue its upward trend. Entry near $1705.43 with a stop-loss at $1698.52 could be an option.

Please note that trading decisions should be made after conducting thorough analysis and considering risk management strategies.

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