Stock Market Analysis Today [2024.07.10]: Tesla, Nvidia, Intel, Oracle, and Warner Bros. Discovery – Key Trends and Predictions

Hi, Welcome to Stock Market Analysis Today! We will analyze each sector one by one for their price action performance, so we can trade stocks in those sectors with confidence. We will also look at some stocks to watch today.

• S&P 500: In an uptrend, likely to reach new highs soon.
• Consumer Staples (XLP): Consolidating but in an uptrend. Watch for price moves from support.
• Energy (XLE): Broke resistance, indicating a potential new uptrend.
• Materials (XLB): In a downtrend after breaking support. Monitor for further drops.
• Industrials (XLI): Consolidating at support. Possible rise toward resistance, but watch for breakouts.
• Consumer Discretionary (XLY): In an uptrend, recently broke major resistance. Expect continued rise.
• Healthcare (XLV): Consolidating, pulling back from resistance. Monitor support levels.
• Financials (XLF): Broke support but trying to recover. The trend is still uncertain.
• Technology (XLK): Near all-time high, in an uptrend. Watch for resistance levels.
• Communications (XLC): Similar to tech, in an uptrend near high levels.
• Utilities (XLU): Crashing, heading towards the next support level.
• Real Estate (XLRE): Consolidating, moving toward resistance around 38.50. Watch for breakouts.

Stock Market Events Today

These events include important news that could impact the stock market, macroeconomic reports, and economic indicators. For more details, you can check the bloomberg calendar & yahoo finance.

• 10:00 AM ET: Federal Reserve Chair Jerome Powell is to testify on the economic outlook and recent monetary policy actions before the Joint Economic Committee, in Washington DC. The testimony is in two parts; the first is a prepared statement, then the committee conducts a question and answer session. The Q&A portion of the testimony can see heavy market volatility for the duration.
• 10:30 AM ET: The Crude Oil Inventories report will be released with a forecast of 0.700M and a previous value of -12.157M. This will impact oil and energy stocks, and it will also affect companies that rely on oil.

Stocks with Earnings:

S&P 500

The S&P 500 still looks strong. It’s in an uptrend and is likely to make new highs.

Looking at the 1-hour chart, you can see the price is consolidating around the resistance. We can expect the price to break above this level since the overall trend is bullish. However, it could also go for a correction, so watch for both reversal and breakout signals. Overall, the price is more likely to break above.

Looking at the heatmap, NVDA is still strong, and TSLA is keeping its momentum. ORCL is facing challenges, and MSFT is also struggling. The energy sector is doing poorly, while the financial sector did well. Now, let’s review the previous day’s performance before diving into separate analyses.

Consumer Staples Sector(XLP):

Looking at the consumer staples sector, it’s still the same story. It’s in an uptrend, but there’s also a medium-term sideways trend happening.

In the 1-hour chart, you can see the consolidation phase. Right now, the price is pulling back up from the support. Since it’s consolidating, the price has to stay within these support and resistance levels. We can confirm the future trend when the price breaks through either of these levels, so wait for the breakout.

Energy Sector(XLE):

Looking at the energy sector, it’s trending down. It recently broke above the resistance but then dropped back down, showing a false breakout. Now, the price is heading toward the support level.

Looking at the 1-hour chart, you can see the price heading for the support. We can expect a pullback around the support level, or the price might break below and keep falling. Watch for reversal and breakout signals around the support.

Materials Sector(XLB):

Looking at the materials sector, it’s not in an uptrend. It could be moving sideways or in a downtrend. The price is currently at a major support level. If the price breaks below this level, we can confirm it’s in a downtrend.

Looking at the 1-hour chart, you can see the price pulled back from the support, went up, and then started dropping again. As mentioned before, if the price breaks below this major support, we can confirm the materials sector is in a downtrend. So, wait for a breakout or reversal signal around the support to confirm the trend.

Industrial Sector(XLI):

Looking at the industrials sector, it’s consolidating, and the price is around the support level.

Looking at the 1-hour chart, the price is consolidating around the support level. If the price breaks below this support, we can confirm the industrials sector is in a downtrend. However, the price could also pull back from this level and move up to the resistance levels. So, wait for the signals.

Consumer Discretionary Sector(XLY):

Looking at the consumer discretionary sector, it’s leading, in an uptrend, and at all-time high levels.

Looking at the 1-hour chart, you can see the price is steadily climbing. Corrections along the way are good for the momentum to continue, so expect some corrections, but overall, the price is bullish.

Healthcare Sector(XLV):

Looking at the healthcare sector, it’s consolidating.

Looking at the 1-hour chart, you can see the price pulled back from a support level and is now at a resistance level. If the price breaks above this resistance, we can expect it to continue up to the next resistance. On the other hand, if the price pulls back from this resistance, we can expect it to drop to the support level.

Financials Sector(XLF):

Looking at the financial sector, it broke the support but is still trying to go back up. The trend is still uncertain.

Looking at the 1-hour chart, you can see the sloping trend line acting as resistance, with the price bouncing back from that level multiple times. This suggests the breakout was real, and the trend should be down or sideways. However, to confirm this, the price needs to drop below the previous lows.

Technology Sector(XLK):

Looking at the technology sector, it’s in an uptrend and at all-time high levels.

Looking at the 1-hour chart, after the price broke the resistance, it pulled back to that level and started to go up. This confirms there is support at that level, and we can expect the price to continue rising and make new highs.

Communications Sector(XLC):

Looking at the communications sector, it’s similar to the technology sector. It’s in an uptrend and at all-time high levels.

Looking at the 1-hour chart, you can see that after the price hit a high, it pulled back to a support level and started going back up. We can expect this momentum to continue.

Utility Sector(XLU):

Looking at the utilities sector, it’s in a downtrend, but it seems to be pulling back up right now.

Looking at the 1-hour chart, the price is pulling back to a resistance level. We can expect the price to start dropping from this level, but if it breaks above that resistance, it might continue going up to the next resistance.

Real Estate Sector(XLRE):

Looking at the real estate sector, it’s consolidating.

Looking at the 1-hour chart, the price is pulling back up from the support and is now at a resistance level. We can expect a pullback here, or it might move up to the next resistance indicated on the chart.

Stocks to Watch Today

TSLA

Looking at Tesla, it’s driving the consumer discretionary sector’s upward momentum. Right now, the price is at a resistance level. We can expect a pullback here, or the price could break above this level and continue going up.

NVDA

Looking at Nvidia, it broke the resistance level and is now trading just above it. We can expect this momentum to continue to the next resistance level since the demand for their chips is still high. Their GPUs are the top choice for gaming and machine learning. Nvidia is bullish.

INTC

Looking at Intel, after consolidating for a while, it broke above the resistance. Their 15th gen chip, expected to release at the end of this year, is rumored to be 2nm. This could compete with AMD’s 9000 series. If everything goes well, we could see the stock skyrocketing.

ORCL

Oracle is trading at its all-time high levels, and the price has pulled back from the resistance at this peak. We can expect the stock to correct and fill the gap, then continue its upward momentum like it did before. You can see this pattern in the chart. Watch out for breakouts.

WBD

Warner Bros. Discovery (WBD) has been facing significant challenges recently. The stock is currently trading near its 52-week low, around $7.34, due to various factors impacting the company’s performance and investor sentiment.

One major development is the company’s decision to increase the price of its ad-free plans on the streaming service Max from $15.99 to $16.99​. Additionally, the company has agreed to pay $125 million to settle a shareholder lawsuit related to its merger with AT&T’s WarnerMedia, which some investors felt was unfair​​.

Analysts have mixed feelings about WBD’s future. While the stock is currently rated as a “Hold” by many analysts, with price targets ranging from $7.00 to $20.00, indicating a potential upside of 37.66%​​. The sentiment around the stock remains cautious, with some analysts suggesting it might take significant strategic changes or positive market conditions for the stock to rebound.

Given this context, it’s crucial to keep an eye on major support levels, as breaking below these could indicate further declines. Conversely, any positive news or strategic shifts could provide a boost and lead to potential upward momentum.

Conclusion & Disclaimer

Please provide your feedback on how we can improve this article. Thank you!

We discussed these sectors and markets because when the entire market or sector goes through certain movements, most of the stocks within that market will also experience similar movements. So, by understanding what the market is doing, you can conduct your own analysis on specific stocks.

These analyses are here to help you understand how to analyze the market. They’re not about giving buy or sell signals. It’s simply about observing price action market behavior. I don’t recommend when to buy or sell because trading doesn’t work that way. You need a strategy to guide your decisions about when to enter or exit positions. That’s the key to making consistent profits in the financial markets over time.

The information provided in this market analysis is for educational and informational purposes only. It should not be construed as financial advice or a recommendation to buy, sell, or hold any securities or investments.

All investments involve risk, and past performance is not indicative of future results. The analysis provided may not be suitable for all investors and should be used at their own discretion.

Readers are encouraged to conduct their own research.

Trading and investing in financial markets carry inherent risks, including the risk of losing invested capital. It is important to carefully consider your investment objectives, risk tolerance, and financial situation before making any investment decisions.

GOOD LUCK✌!!!