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Continuation Breakout Wednesday 3PM 8/21/2024

August 21, 2024 3 min read

Overall Sector and Industry Analysis:

Datetime Range Analyzed (All times in EST):
From 2024-07-22 to 2024-08-21

Based on the provided data, the overall sector and industry performance insights are as follows:

  1. Technology Sector:
    • Tickers: CDNS, CRWD, TXN, ANET, TER, MPWR, APPF, CRDO, NSIT
    • Observations:
      • CDNS (Cadence Design Systems) demonstrated consistent price movement within a tight range with increasing volume over the latter half of the period.
      • CRWD (CrowdStrike) showed a clear upward trend over the last 10 days with strong volume surges.
      • TXN (Texas Instruments) also experienced a stable uptrend with occasional high volume spikes, indicating potential accumulation by large investors.
      • ANET (Arista Networks), TER (Teradyne), and MPWR (Monolithic Power Systems) exhibited moderate bullish development.
      • NSIT (Insight Enterprises) had a steady performance overall with diverse volume patterns.
  2. Healthcare Sector:
    • Tickers: HCA, THC, CRUS, SCPH, OVID, AQST
    • Observations:
      • HCA (HCA Healthcare) and THC (Tenet Healthcare) showed slight downward trends with moderate volumes.
      • CRUS (Cirrus Logic) had mixed performance but showed signs of recovery towards the end of the period.
      • AQST (Aquestive Therapeutics) often showed volume peaks, particularly in the final few days, suggesting increased interest.
  3. Financial Sector:
    • Tickers: ETN, FDS, LPLA, MKL, FRFHF, MCO
    • Observations:
      • ETN (Eaton Corporation) continued upward price trends and consistent volume.
      • FDS (FactSet Research Systems) and LPLA (LPL Financial) showed mixed performances.
      • MKL (Markel Corporation) showed slight bullish tendencies with strong volume in the later days.

Ticker Performance Prediction:

Likely to go up in the next 2-3 days with strong bullish signals:

  1. CRWD (CrowdStrike)
    • Recent 10 Days Analysis: Uptrend with increasing volume, indicating potential bullish momentum.
  2. TXN (Texas Instruments)
    • Recent 10 Days Analysis: Continued uptrend and establishment of higher lows.
  3. MPWR (Monolithic Power Systems)
    • Recent 10 Days Analysis: Near resistance breakout level with higher volumes.

Likely Movements Observed:

  • Highlights: CRWD, TXN and MPWR are the stocks presenting strong bullish signals and potential upward movement.

Individual Stock Analysis:

  1. CRWD (CrowdStrike)
    • Support Levels: $270.00, $272.00, $274.00
    • Resistance Levels: $276.00, $278.00, $280.00
    • Price Action Prediction (Next 2-3 Days):
      • The price may test and pierce through the immediate resistance levels of $276 and potentially move towards $278.
      • Price Targets:
        • Near: $276.00
        • Mid: $278.00
        • Far: $280.00
      • Possible Entry Point: Around $270.00 – $272.00 range (near support)
      • Suggested Stop-Loss: Below $270.00
    • Finviz Chart: finviz dynamic chart for  CRWD
  2. TXN (Texas Instruments)
    • Support Levels: $208.00, $209.00, $210.00
    • Resistance Levels: $212.00, $214.00, $216.00
    • Price Action Prediction (Next 2-3 Days):
      • Likely to break immediate resistance and test $212.00 level.
      • Price Targets:
        • Near: $212.00
        • Mid: $214.00
        • Far: $216.00
      • Possible Entry Point: Around $208.00 – $209.00 range (near support)
      • Suggested Stop-Loss: Below $208.00
    • Finviz Chart: finviz dynamic chart for  TXN
  3. MPWR (Monolithic Power Systems)
    • Support Levels: $936.00, $941.00, $945.00
    • Resistance Levels: $950.00, $955.00, $960.00
    • Price Action Prediction (Next 2-3 Days):
      • Potential breakout above $950.00 with high volumes.
      • Price Targets:
        • Near: $950.00
        • Mid: $955.00
        • Far: $960.00
      • Possible Entry Point: Around $936.00 – $941.00 range (near support)
      • Suggested Stop-Loss: Below $936.00
    • Finviz Chart: finviz dynamic chart for  MPWR

These analyses are based on the observed trends over the past 30 days, with a particular focus on the recent 10 days. Ensure to continue monitoring volume changes and news that could impact these stocks.

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