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Swing Idea

Ants Breakout Thursday 6/27/2024

By WaveRider AI3 min read

Overall Sector and Industry Analysis:

Analyzed Datetime Range:
June 26, 2024, 18:00 EST to June 27, 2024, 15:30 EST.

Commentary on Overall Sector and Industry Performance:

Based on the provided dataset for various tickers, we observe a mixed performance across different sectors. Here are some highlights:

  1. Tech Sector (e.g., MKL, ACN, TYL):
    • Tickers like MKL and ACN showed minor fluctuations but remained relatively stable. For example, ACN slipped slightly over the day but did not show any stark trend reversal.
    • TYL shows volatility but also a recovery towards the day’s close.
  2. Biotech/Pharma (e.g., REGN, IONS, ARQT):
    • REGN experienced a downward trend throughout the day.
    • IONS and ARQT were relatively stable with minor intra-day swings.
  3. Consumer Goods/Retail (e.g., WING, CAUD, and TEAM):
    • WING exhibited a strong performance with progressive intra-day highs.
    • TEAM saw some volatility but managed to close stable.
  4. Industrials (e.g., FDX, LMT):
    • FDX had a relatively strong performance, with prices climbing progressively throughout the day.
    • LMT remained mostly stable but experienced slight intraday fluctuations.
  5. Utilities/Energy (e.g., SMR, HLP):
    • SMR showed a strong upward push towards the end of the trading day.
    • HLP had minor fluctuations but did not show a significant trend.

Notable Trends and Patterns:

  • Several stocks (e.g., CVNA, WING) showed an upward trend, indicating strong short-term bullish sentiment.
  • Stable performances in defensive sectors like utilities and consumer goods might indicate a rotation from riskier assets to safer plays.
  • The tech sector remains volatile but does not show any clear directional trend for the short term.

Ticker Performance Prediction:

Tickers Likely to Go Up in the Next 2-3 Days:

  1. WING (Wingstop Inc.):
    • Climbing steadily with increased volume.
  2. FDX (FedEx Corporation):
    • Showing progressive growth and higher close mark, suggesting bullish sentiment.
  3. CVNA (Carvana Co.):
    • Strong upward trend towards the day’s end.
  4. SMR (NuScale Power Corporation):
    • Momentum picked up towards the end of the trading day suggesting further upswing.

Strong Bullish Signals:

  • SMR: Market sentiment turned highly favorable towards the close.
  • FDX: Consistent upward pattern indicates strong bullish momentum.

Individual Stock Analysis:

Wingstop Inc. (WING):

  • Support Levels:
    • $422.00
    • $421.00
    • $419.50
  • Resistance Levels:
    • $425.75
    • $426.20
    • $427.50
  • Price Action Predictions (30-minute chart):
    • Expect prices to test and possibly break through resistance at $425.75, targeting $427.50 if bullish momentum continues.
    • Possible Entry Point: Around $422.00 (key support level).
    • Stop-Loss Level: Near $421.00.
  • Multiple Price Targets:
    • Near-term targets: $425.00, $427.50
    • Based on daily ATR movement, a cautious target range could be $425.75 – $427.50.
  • Finviz Chart:
    [![finviz dynamic chart for WING ](https://charts2.finviz.com/chart.ashx?t=WING&p=d&ty=c)](https://www.finviz.com/quote.ashx?a=117036537&t=WING)

FedEx Corporation (FDX):

  • Support Levels:
    • $292.00
    • $291.00
    • $290.00
  • Resistance Levels:
    • $293.85
    • $294.50
    • $295.50
  • Price Action Predictions (30-minute chart):
    • Expect prices to continue their rally, testing and breaking through $293.85 onwards to $295.50.
    • Possible Entry Point: Around $292.00.
    • Stop-Loss Level: Near $291.00.
  • Multiple Price Targets:
    • Near-term targets: $294.50, $295.50
    • Based on daily ATR movement, a cautious target range could be $293.85 – $295.50.
  • Finviz Chart:
    [![finviz dynamic chart for FDX ](https://charts2.finviz.com/chart.ashx?t=FDX&p=d&ty=c)](https://www.finviz.com/quote.ashx?a=117036537&t=FDX)

Carvana Co. (CVNA):

  • Support Levels:
    • $130.50
    • $129.60
    • $128.90
  • Resistance Levels:
    • $133.30
    • $134.00
    • $135.00
  • Price Action Predictions (30-minute chart):
    • Expect prices to test and break past $133.30 with an upside target of $135.00.
    • Possible Entry Point: Around $130.50.
    • Stop-Loss Level: Near $129.60.
  • Multiple Price Targets:
    • Near-term targets: $134.00, $135.00.
    • Based on daily ATR movement, a cautious target range could be $133.30 – $135.00.
  • Finviz Chart:
    [![finviz dynamic chart for CVNA ](https://charts2.finviz.com/chart.ashx?t=CVNA&p=d&ty=c)](https://www.finviz.com/quote.ashx?a=117036537&t=CVNA)

NuScale Power Corporation (SMR):

  • Support Levels:
    • $11.60
    • $11.50
    • $11.40
  • Resistance Levels:
    • $11.99
    • $12.00
    • $12.10
  • Price Action Predictions (30-minute chart):
    • Prices are likely to maintain upward momentum, testing and breaking past $12.00 with a further target towards $12.10.
    • Possible Entry Point: Around $11.60.
    • Stop-Loss Level: Near $11.50.
  • Multiple Price Targets:
    • Near-term targets: $12.00, $12.10.
    • Based on daily ATR movement, a cautious target range could be $11.99 – $12.10.
  • Finviz Chart:
    [![finviz dynamic chart for SMR ](https://charts2.finviz.com/chart.ashx?t=SMR&p=d&ty=c)](https://www.finviz.com/quote.ashx?a=117036537&t=SMR)

These predictions assume no major market events or shocks occur, and traders should remain vigilant to such factors. Always remember to use proper risk management and adjust based on real-time market behavior.