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Continuation Breakout Wednesday 3PM 7/31/2024

July 31, 2024 3 min read

Overall Sector and Industry Analysis:

Datetime Range Analyzed (EST): July 1, 2024 – July 31, 2024

Based on the last 30 days’ price and volume data for the provided stocks, we can discern the performances and recent trends within the different sectors and industries these stocks belong to.

Sector and Industry Performance:

  1. Consumer Discretionary:
    • Tickers: BOOT (Boot Barn), AZO (AutoZone), HD (Home Depot)
    • Observations:
      • BOOT showed increased buying volume and a significant price increase in the last 10 days, indicating bullish momentum.
      • AZO exhibits a steady uptrend with small retracements, typically signaling strong confidence from buyers.
      • HD similarly saw a jump towards the end of the period, suggesting positive investor sentiment.
  2. Industrials:
    • Tickers: VMC (Vulcan Materials), EXP (Eagle Materials), ODFL (Old Dominion Freight Line)
    • Observations:
      • VMC and EXP both showed significant recoveries in the last 10 days with increased volumes, hinting at renewed interest.
      • ODFL experienced a sharper move upward, breaking past resistance levels suggesting strong momentum.
  3. Financials:
    • Tickers: GS (Goldman Sachs), CFB (CrossFirst Bankshares)
    • Observations:
      • GS saw some fluctuations but maintained an overall stable ascent, supported by high volume days.
      • CFB had a notable jump over recent days with increased volume, indicating a short-term bullish trend.
  4. Healthcare:
    • Tickers: ARGX (argenx), ETNB (89bio), KNSA (Kiniksa Pharmaceuticals)
    • Observations:
      • ARGX has shown strong upward movement, supported by high volume – a clear bullish sign.
      • ETNB indicates some consolidation but is trending upward with volume increasing on green days.
      • KNSA had a jump in price towards the end, with a spike in volume, likely indicating bullishness.
  5. Technology:
    • Tickers: ADP (Automatic Data Processing), CHKP (Check Point Software Technologies)
    • Observations:
      • ADP faced some resistance but kept an overall positive momentum.
      • CHKP appears to be trading within a tight range but is attempting to move past its resistance levels.

Several stocks have demonstrated increased volumes in the past 10 days:
– Consumer discretionary stocks like BOOT, AZO, HD.
– Industrial stocks including VMC, EXP, ODFL.
– Healthcare stocks such as ARGX and ETNB.

Ticker Performance Prediction:

Likely to go up in the next 2-3 days:

  • BOOT – Recent volume spikes with upward price movements signal strong bullish momentum.
  • ARGX – Continues to show higher highs and volumes.
  • GS – Steady upwards trend supported by volume.

Strong Bullish Signals:

  • BOOT
  • ARGX
  • ODFL

Individual Stock Analysis:

BOOT (Boot Barn) finviz dynamic chart for  BOOT

Support Levels:
1. 132.50
2. 134.00
3. 135.50

Resistance Levels:
1. 137.00
2. 138.50
3. 140.00

Next 2-3 Days Price Predictions:
Price Target 1: 137.50
Price Target 2: 138.50
Possible Entry: Near 134.00
Stop-Loss: Near 132.00

ARGX (argenx) finviz dynamic chart for  ARGX

Support Levels:
1. 510.00
2. 517.00
3. 520.00

Resistance Levels:
1. 524.00
2. 530.00
3. 535.00

Next 2-3 Days Price Predictions:
Price Target 1: 525.00
Price Target 2: 530.00
Possible Entry: Around 517.00
Stop-Loss: Near 510.00

GS (Goldman Sachs) finviz dynamic chart for  GS

Support Levels:
1. 510.00
2. 512.00
3. 515.00

Resistance Levels:
1. 517.00
2. 520.00
3. 525.00

Next 2-3 Days Price Predictions:
Price Target 1: 517.00
Price Target 2: 520.00
Possible Entry: Close to 512.00
Stop-Loss: Near 510.00

ODFL (Old Dominion Freight Line) finviz dynamic chart for  ODFL

Support Levels:
1. 212.00
2. 210.00
3. 208.00

Resistance Levels:
1. 214.00
2. 216.00
3. 218.00

Next 2-3 Days Price Predictions:
Price Target 1: 215.00
Price Target 2: 217.00
Possible Entry: Around 210.00
Stop-Loss: Near 208.00

The detailed analyses for the stocks include support and resistance levels, possible price movements, entry points, and stop-loss recommendations. Always consider market conditions and follow risk management practices when trading.

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