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Swing Idea

Continuation Breakout Wednesday 12PM 8/28/2024

By WaveRider AI3 min read

Overall Sector and Industry Analysis:

Datetime Range:
– Analyzed data from July 30, 2024, to August 28, 2024, in EST.

Sector and Industry Performance:
– Financial Sector (AXP, EFX, EVR): The financial sector shows moderate bullish momentum. AXP and EFX display consistent volume with gradual price increases, suggesting a healthy demand. EVR shows steady climbs, although with lower volume, indicating possible institutional interest.
– Healthcare (VRTX, CI, REGN): The healthcare sector is relatively strong. VRTX and REGN are demonstrating robust price action with consistent upward trends, while CI shows a significant volume increase and strong price performance over the last few days.
– Materials (SHW): SHW exhibits a bullish trend with steady volume, hinting at strong market interest.
– Consumer Discretionary (LOW, GRPN): Both LOW and GRPN have shown strong recent price uptrends, reflecting high P/E ratios and consumer confidence.
– Energy (ASM): ASM shows mixed signals with fluctuating volume and price spikes, suggesting potential volatility.
– Technology (TLS, SOAR): Both demonstrate notable recent activity with increased volume and price upticks, indicating speculative interest.
– Industrials (FIX): FIX shows a robust uptrend, with consistent volume and significant price movements.

Notable Tickers:
– Bullish: VRTX, CI, AXP, EFX, LOW, FIX
– Volatile: ASM, TLS, SOAR, GRPN

Ticker Performance Prediction:

Likely to Rise in the Next 2-3 Days:
– CI: Strong bullish momentum and volume.
– VRTX: Consistent price gains and high volume.
– LOW: Steady uptrend with good volume.
– AXP: Gradual increasing trend with steady volume.
– EFX: Strong bullish signals with consistent volume.
– FIX: Consistent upward movement and volume spike.

Strong Bullish Signals:
– CI: Significant volume spike with price breakout.
– VRTX: Technical bullish patterns with high volumes.
– LOW: Steady climb with sustained interest.
– FIX: Recent volume spikes with upward price movement.

Individual Stock Analysis:

CI

  • Support Levels: $356, $354, $351
  • Resistance Levels: $360, $363, $365
  • Price Action Prediction (30-minute chart):
    • Targets: Near $360, $363, based on daily ATR movement.
    • Entry Points: Near $355 support level.
    • Stop-Loss: Close to $351.
    • Finviz Chart:[](https://www.finviz.com/quote.ashx?a=117036537&t=CI) [<iframe src="https://app.waverider.ai/embed/ticker/CI?signal_date=2024-08-28&amp;theme=dark" width="100%" height="400" frameborder="0" loading="lazy" title="CI Chart"></iframe>](https://www.finviz.com/quote.ashx?a=117036537&t=CI)[Open full analysis on WaveFinder →](https://app.waverider.ai/ticker/CI?utm_source=blog&utm_medium=chart-embed&utm_campaign=wavefinder-signup)

VRTX

  • Support Levels: $490, $485, $480
  • Resistance Levels: $495, $500, $505
  • Price Action Prediction (30-minute chart):
    • Targets: Around $495 and $500.
    • Entry Points: Close to $488 support.
    • Stop-Loss: Near $480.
    • Finviz Chart:[](https://www.finviz.com/quote.ashx?a=117036537&t=VRTX) [<iframe src="https://app.waverider.ai/embed/ticker/VRTX?signal_date=2024-08-28&amp;theme=dark" width="100%" height="400" frameborder="0" loading="lazy" title="VRTX Chart"></iframe>](https://www.finviz.com/quote.ashx?a=117036537&t=VRTX)[Open full analysis on WaveFinder →](https://app.waverider.ai/ticker/VRTX?utm_source=blog&utm_medium=chart-embed&utm_campaign=wavefinder-signup)

LOW

  • Support Levels: $248, $247, $245
  • Resistance Levels: $250, $252, $255
  • Price Action Prediction (30-minute chart):
    • Targets: Near $250 and $252.
    • Entry Points: Around $248 support.
    • Stop-Loss: Close to $245.
    • Finviz Chart:[](https://www.finviz.com/quote.ashx?a=117036537&t=LOW) [<iframe src="https://app.waverider.ai/embed/ticker/LOW?signal_date=2024-08-28&amp;theme=dark" width="100%" height="400" frameborder="0" loading="lazy" title="LOW Chart"></iframe>](https://www.finviz.com/quote.ashx?a=117036537&t=LOW)[Open full analysis on WaveFinder →](https://app.waverider.ai/ticker/LOW?utm_source=blog&utm_medium=chart-embed&utm_campaign=wavefinder-signup)

AXP

  • Support Levels: $257, $255, $253
  • Resistance Levels: $260, $262, $265
  • Price Action Prediction (30-minute chart):
    • Targets: Near $260, $262.
    • Entry Points: Around $256 support.
    • Stop-Loss: Close to $253.
    • Finviz Chart:[](https://www.finviz.com/quote.ashx?a=117036537&t=AXP) [<iframe src="https://app.waverider.ai/embed/ticker/AXP?signal_date=2024-08-28&amp;theme=dark" width="100%" height="400" frameborder="0" loading="lazy" title="AXP Chart"></iframe>](https://www.finviz.com/quote.ashx?a=117036537&t=AXP)[Open full analysis on WaveFinder →](https://app.waverider.ai/ticker/AXP?utm_source=blog&utm_medium=chart-embed&utm_campaign=wavefinder-signup)

EFX

  • Support Levels: $305, $303, $300
  • Resistance Levels: $308, $310, $312
  • Price Action Prediction (30-minute chart):
    • Targets: Near $308, $310.
    • Entry Points: Close to $305 support.
    • Stop-Loss: Near $300.
    • Finviz Chart:[](https://www.finviz.com/quote.ashx?a=117036537&t=EFX) [<iframe src="https://app.waverider.ai/embed/ticker/EFX?signal_date=2024-08-28&amp;theme=dark" width="100%" height="400" frameborder="0" loading="lazy" title="EFX Chart"></iframe>](https://www.finviz.com/quote.ashx?a=117036537&t=EFX)[Open full analysis on WaveFinder →](https://app.waverider.ai/ticker/EFX?utm_source=blog&utm_medium=chart-embed&utm_campaign=wavefinder-signup)

FIX

  • Support Levels: $338, $336, $334
  • Resistance Levels: $340, $342, $345
  • Price Action Prediction (30-minute chart):
    • Targets: Around $340 and $342.
    • Entry Points: Close to $336 support.
    • Stop-Loss: Near $334.
    • Finviz Chart:[](https://www.finviz.com/quote.ashx?a=117036537&t=FIX) [<iframe src="https://app.waverider.ai/embed/ticker/FIX?signal_date=2024-08-28&amp;theme=dark" width="100%" height="400" frameborder="0" loading="lazy" title="FIX Chart"></iframe>](https://www.finviz.com/quote.ashx?a=117036537&t=FIX)[Open full analysis on WaveFinder →](https://app.waverider.ai/ticker/FIX?utm_source=blog&utm_medium=chart-embed&utm_campaign=wavefinder-signup)

Summary of Recommendations:
– CI, VRTX, LOW, AXP, EFX, FIX: These stocks show strong bullish signals with significant support and resistance levels identified. The recommended entry points offer favorable risk-reward ratios with defined stop-loss levels to manage potential downside risk. Consider these picks for short-term swing trades in the 1-3 day horizon, targeting specified resistance levels for optimal gains.