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Swing Idea

Continuation Breakout Tuesday 3PM 9/17/2024

By WaveRider AI3 min read

Overall Sector and Industry Analysis:

DateTime Range Analyzed:
2024-08-18 to 2024-09-17 (EST)

Sector Performance Analysis:

Over the last 30 days, we have monitored the price and volume across a variety of sectors. The recent 10-day period emphasized some noticeable shifts and momentum builds in specific industries:

  1. Technology:
    • KRNT: This stock has demonstrated stable price movement with minor fluctuations. Volume has been consistently moderate.
    • NEON: Seen a bullish breakout with a significant price increase and a surge in volume, indicating strong buying interest.
    • ICG: The stock has maintained a narrow range, showcasing low volatility.
  2. Healthcare:
    • PHIO: A strong upward momentum with a notable increase in volume over the past 10 days suggests a bullish trend.
    • HCWB: Low volume with minor price movements suggests low interest or consolidation phase.
  3. Financial:
    • AXP: Stable trading with minor variations indicating accumulation.
    • AMP: Minor bullish signals with average daily volume, indicating steady interest.
  4. Industrials:
    • ETN: Bullish movement in price closely followed by increased trading volume, hinting at a breakout.
    • URI: Consistent upward trend coupled with sustained volume, making this a strong contender for momentum trade.
  • Momentum Breakouts: NEON, PHIO: Both stocks have displayed significant bullish trends over the recent 10 days.
  • Consistent Upward Trend: URI and PH; both have persisted in an upward trajectory with reinforced buying volume.
  • Consolidation: HCWB, ICG, and AXP; these tickers show signs of tight consolidation with potential breakout possibilities.

Ticker Performance Prediction:

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

  1. NEON: Strong bullish signals with consistent high volume suggest continued upward movement.
  2. PHIO: Momentum build over the last 10 days indicates a sustained price increase.
  3. URI: Continues to show strength in price and volume trends.
  4. PH: Steady incline and high trading volume point towards bullish continuation.

Strong Bullish Signals:

  • NEON
  • PHIO
  • URI
  • PH

Individual Stock Analysis:

NEON:

  • Support Levels: $10.80, $10.50, $10.00

  • Resistance Levels: $11.50, $11.80, $12.00

  • Price Action Prediction:

    • Entry Point: Near $10.80 support.
    • Prediction: Likely to hit $11.80 within 1-3 days.
    • Stop-Loss: Below $10.50

  • Price Targets: $11.50 and $11.80.

    [](https://www.finviz.com/quote.ashx?a=117036537&t=NEON)

    [](https://www.finviz.com/quote.ashx?a=117036537&t=NEON) [<iframe src="https://app.waverider.ai/embed/ticker/NEON?signal_date=2024-09-17&amp;theme=dark" width="100%" height="400" frameborder="0" loading="lazy" title="NEON Chart"></iframe>](https://www.finviz.com/quote.ashx?a=117036537&t=NEON)[Open full analysis on WaveFinder →](https://app.waverider.ai/ticker/NEON?utm_source=blog&utm_medium=chart-embed&utm_campaign=wavefinder-signup)

PHIO:

  • Support Levels: $3.50, $3.25, $3.00

  • Resistance Levels: $3.75, $4.00, $4.25

  • Price Action Prediction:

    • Entry Point: Near $3.50 support.
    • Prediction: Likely to reach $4.00 in the short term.
    • Stop-Loss: Below $3.25

  • Price Targets: $3.75 and $4.00.

    [](https://www.finviz.com/quote.ashx?a=117036537&t=PHIO)

    [](https://www.finviz.com/quote.ashx?a=117036537&t=PHIO) [<iframe src="https://app.waverider.ai/embed/ticker/PHIO?signal_date=2024-09-17&amp;theme=dark" width="100%" height="400" frameborder="0" loading="lazy" title="PHIO Chart"></iframe>](https://www.finviz.com/quote.ashx?a=117036537&t=PHIO)[Open full analysis on WaveFinder →](https://app.waverider.ai/ticker/PHIO?utm_source=blog&utm_medium=chart-embed&utm_campaign=wavefinder-signup)

URI:

  • Support Levels: $764.00, $760.00, $755.00

  • Resistance Levels: $766.00, $770.00, $775.00

  • Price Action Prediction:

    • Entry Point: Near $764.00 support.
    • Prediction: Expected move towards $770 within 1-3 days.
    • Stop-Loss: Below $760.00

  • Price Targets: $766.00 and $770.00.

    [](https://www.finviz.com/quote.ashx?a=117036537&t=URI)

    [](https://www.finviz.com/quote.ashx?a=117036537&t=URI) [<iframe src="https://app.waverider.ai/embed/ticker/URI?signal_date=2024-09-17&amp;theme=dark" width="100%" height="400" frameborder="0" loading="lazy" title="URI Chart"></iframe>](https://www.finviz.com/quote.ashx?a=117036537&t=URI)[Open full analysis on WaveFinder →](https://app.waverider.ai/ticker/URI?utm_source=blog&utm_medium=chart-embed&utm_campaign=wavefinder-signup)

PH:

  • Support Levels: $606.00, $605.00, $600.00

  • Resistance Levels: $607.50, $610.00, $615.00

  • Price Action Prediction:

    • Entry Point: Around $606.00 support.
    • Prediction: Likely to surge to $610 soon.
    • Stop-Loss: Below $605.00

  • Price Targets: $607.50 and $610.00.

    [](https://www.finviz.com/quote.ashx?a=117036537&t=PH)

    [](https://www.finviz.com/quote.ashx?a=117036537&t=PH) [<iframe src="https://app.waverider.ai/embed/ticker/PH?signal_date=2024-09-17&amp;theme=dark" width="100%" height="400" frameborder="0" loading="lazy" title="PH Chart"></iframe>](https://www.finviz.com/quote.ashx?a=117036537&t=PH)[Open full analysis on WaveFinder →](https://app.waverider.ai/ticker/PH?utm_source=blog&utm_medium=chart-embed&utm_campaign=wavefinder-signup)

With the current market dynamics and momentum analysis, the aforementioned stocks are well-positioned for potential gains in the next few trading sessions. Always ensure to adjust stop-loss levels appropriately based on individual risk tolerance and market conditions. Happy Trading!