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Swing Idea

Continuation Breakout Monday 11AM 7/01/2024

By WaveRider AI3 min read

Overall Sector and Industry Analysis

DateTime Range Analyzed:
2024-06-28 to 2024-07-01 EST

During the analyzed period, sectors and industries showed varied performance. Let’s break down the activity:

  1. Health Care Sector:
    • HUM (Humana Inc.): The 30-day trend indicated a mixed performance with some upward momentum in the recent 10 days. The closing price on 2024-07-01 showed a slight recovery, suggesting a potential reversal from a dip.
    • ARQT (Arcutis Biotherapeutics): Displayed steady growth in the past 10 days with incremental volume supporting the bullish momentum.
    • AMGN (Amgen Inc.): Experienced a strong upswing during the recent days, but showed some consolidation in the last two days.
  2. Technology Sector:
    • TSLA (Tesla Inc.): Demonstrated significant bullish momentum with high trading volumes over the last 10 days. Substantial price jumps were noted.
    • REGN (Regeneron Pharmaceuticals): Showed continuous growth with high trading volumes supporting the uptrend.
  3. Financial Sector:
    • GS (Goldman Sachs): Displayed bullish behavior with a strong uptrend in the last couple of days of the analyzed window.
    • MCO (Moody’s Corporation): High volatility was observed; however, there was a short-term bullish trend.
  4. Biotechnology and Pharmaceuticals:
    • LABU (Biotech ETF): Indicated strong bullish behavior with high volume in recent days.
    • UTHR (United Therapeutics): Showed a very strong uptrend with significant volume indicating sustained bullish momentum.
  5. Industrial Goods:
    • WLFC (Willis Lease Finance): A steady growth trend in recent days with consistent volumes indicating a bullish pattern.
  6. Consumer Goods:
    • NRIX (Nurix Therapeutics): Showed some volatility but recent price development suggests an upward trend garnering some investor interest.
  7. Services Sector:
    • LH (Laboratory Corporation of America): Displayed a mixed trend with slight bullish momentum in the most recent data.

Ticker Performance Prediction

Likely to Go Up in 2-3 Days:
– ARQT (Arcutis Biotherapeutics)
– TSLA (Tesla Inc.)
– REGN (Regeneron Pharmaceuticals)
– GS (Goldman Sachs)
– LABU (Biotech ETF)
– UTHR (United Therapeutics)

Strong Bullish Signals:
– TSLA (Tesla Inc.)
– LABU (Biotech ETF)
– UTHR (United Therapeutics)

Individual Stock Analysis

1. ARQT (Arcutis Biotherapeutics)

  • Support Levels:
    • $9.12
    • $9.32
    • $9.41
  • Resistance Levels:
    • $9.61
    • $9.66
    • $9.68
  • Price Action Predictions:
    • Entry Point: Around $9.32
    • Price Targets: $9.61, $9.66
    • Stop-Loss: $9.12
  • Chart:
    [ ](https://www.finviz.com/quote.ashx?a=117036537&t=ARQT) [<iframe src="https://app.waverider.ai/embed/ticker/ARQT?signal_date=2024-07-01&amp;theme=dark" width="100%" height="400" frameborder="0" loading="lazy" title="ARQT Chart"></iframe>](https://www.finviz.com/quote.ashx?a=117036537&t=ARQT)[Open full analysis on WaveFinder →](https://app.waverider.ai/ticker/ARQT?utm_source=blog&utm_medium=chart-embed&utm_campaign=wavefinder-signup)

2. TSLA (Tesla Inc.)

  • Support Levels:
    • $200.7
    • $201.15
    • $206.24
  • Resistance Levels:
    • $207.55
    • $210.00
    • $211.55
  • Price Action Predictions:
    • Entry Point: Around $201.15
    • Price Targets: $207.55, $210.00
    • Stop-Loss: $200.7
  • Chart:
    [ ](https://www.finviz.com/quote.ashx?a=117036537&t=TSLA) [<iframe src="https://app.waverider.ai/embed/ticker/TSLA?signal_date=2024-07-01&amp;theme=dark" width="100%" height="400" frameborder="0" loading="lazy" title="TSLA Chart"></iframe>](https://www.finviz.com/quote.ashx?a=117036537&t=TSLA)[Open full analysis on WaveFinder →](https://app.waverider.ai/ticker/TSLA?utm_source=blog&utm_medium=chart-embed&utm_campaign=wavefinder-signup)

3. REGN (Regeneron Pharmaceuticals)

  • Support Levels:
    • $1045.66
    • $1051.03
    • $1060.88
  • Resistance Levels:
    • $1069.69
    • $1070.00
    • $1072.00
  • Price Action Predictions:
    • Entry Point: Around $1052.06
    • Price Targets: $1069.69, $1070.00
    • Stop-Loss: $1045.66
  • Chart:
    [ ](https://www.finviz.com/quote.ashx?a=117036537&t=REGN) [<iframe src="https://app.waverider.ai/embed/ticker/REGN?signal_date=2024-07-01&amp;theme=dark" width="100%" height="400" frameborder="0" loading="lazy" title="REGN Chart"></iframe>](https://www.finviz.com/quote.ashx?a=117036537&t=REGN)[Open full analysis on WaveFinder →](https://app.waverider.ai/ticker/REGN?utm_source=blog&utm_medium=chart-embed&utm_campaign=wavefinder-signup)

4. GS (Goldman Sachs)

  • Support Levels:
    • $454.01
    • $455.25
    • $455.58
  • Resistance Levels:
    • $456.44
    • $458.48
    • $459.67
  • Price Action Predictions:
    • Entry Point: Around $455.25
    • Price Targets: $458.48, $459.67
    • Stop-Loss: $454.01
  • Chart:
    [ ](https://www.finviz.com/quote.ashx?a=117036537&t=GS) [<iframe src="https://app.waverider.ai/embed/ticker/GS?signal_date=2024-07-01&amp;theme=dark" width="100%" height="400" frameborder="0" loading="lazy" title="GS Chart"></iframe>](https://www.finviz.com/quote.ashx?a=117036537&t=GS)[Open full analysis on WaveFinder →](https://app.waverider.ai/ticker/GS?utm_source=blog&utm_medium=chart-embed&utm_campaign=wavefinder-signup)

5. LABU (Biotech ETF)

  • Support Levels:
    • $112.57
    • $113.07
    • $116.25
  • Resistance Levels:
    • $118.60
    • $119.00
    • $119.93
  • Price Action Predictions:
    • Entry Point: Around $112.75
    • Price Targets: $118.60, $119.00
    • Stop-Loss: $112.57
  • Chart:
    [ ](https://www.finviz.com/quote.ashx?a=117036537&t=LABU) [<iframe src="https://app.waverider.ai/embed/ticker/LABU?signal_date=2024-07-01&amp;theme=dark" width="100%" height="400" frameborder="0" loading="lazy" title="LABU Chart"></iframe>](https://www.finviz.com/quote.ashx?a=117036537&t=LABU)[Open full analysis on WaveFinder →](https://app.waverider.ai/ticker/LABU?utm_source=blog&utm_medium=chart-embed&utm_campaign=wavefinder-signup)

6. UTHR (United Therapeutics)

  • Support Levels:
    • $315.45
    • $318.26
    • $320.80
  • Resistance Levels:
    • $324.98
    • $325.00
    • $326.00
  • Price Action Predictions:
    • Entry Point: Around $318.26
    • Price Targets: $324.98, $325.00
    • Stop-Loss: $315.45
  • Chart:
    [ ](https://www.finviz.com/quote.ashx?a=117036537&t=UTHR) [<iframe src="https://app.waverider.ai/embed/ticker/UTHR?signal_date=2024-07-01&amp;theme=dark" width="100%" height="400" frameborder="0" loading="lazy" title="UTHR Chart"></iframe>](https://www.finviz.com/quote.ashx?a=117036537&t=UTHR)[Open full analysis on WaveFinder →](https://app.waverider.ai/ticker/UTHR?utm_source=blog&utm_medium=chart-embed&utm_campaign=wavefinder-signup)

This analysis provides a strategic overview and actionable insights on the stocks with recent bullish momentum, aiding short-term momentum swing trading plans.