PRCT Inventory +32%, PHG -16% Drop

Prime Gainers

Prime Losers

On the twenty eighth Oct buying and selling session market gave a gap-up opening, indicating bullish momentum by persevering with the rally within the first 15 min. Later market completely went sideways with small swings.  

• NYSE Composite: +93.4 (-0.48%)
• Dow Jones: +273.17 (-0.65%)
• S&P 500: +15.40 (+0.27%)

#1 Gainer: PRCT Inventory

On October twenty eighth, Procept BioRobotics Company (NASDAQ: PRCT) inventory reached a brand new excessive of $91.24 in the course of the buying and selling session. Firm worth has skyrocketed by 237.14% in only one single yr. With fixed progress and innovation within the medical sector, the corporate has efficiently fulfilled their guarantees, leading to gaining buyers’ belief. 

FDA gave the inexperienced flag for a pivotal trial in prostate most cancers, evaluating it to Aquablation remedy to conventional radical prostatectomy. From the present growth, the corporate is anticipating $50 million in annual income ranging from 2026, as the corporate has began seeing a major 61% enhance in complete earnings for the second quarter of 2024, reaching $53.4 million. FDA has additionally accepted AI-integrated therapy planning and superior picture steering. 

Technical Evaluation

PRCT/USD Inventory 15-Minute Chart

Basically, the inventory has a variety of energy to maneuver upward; wanting into technical facets, we are able to see inventory delivered a whopping 32.33% return in only one single day. The inventory was in an up development every day for a very long time, indicating the energy in shopping for. 

Yesterday, the inventory opened a niche up and continued to rally upside taking RSI into the overbought zone. Searching for an entry on the present worth would possibly get tough because the inventory has made an all-time excessive with a giant hole up house, and if we take a look at the historic information, then we are able to see worth reverses from a better stage when RSI goes within the overbought zone, as proven within the picture. On this state of affairs, there are two entry factors. 

1. This generally is a high-risk, reward commerce. Utilizing the Fib retracement software from the twenty eighth Oct excessive to the twenty fifth Oct low, we are able to plan an entry if the worth faces rejection from the 0.5 stage with the cease loss under the shopping for candle and a goal of an all-time excessive. Because the inventory is within the information, it would give a rally from this stage. 
2. This commerce may give you a low-risk, high-reward ratio, as the worth is shifting upwards whereas making a swing and development line. If the worth involves retest the supporting development line, then an entry will be made with a cease loss under the trendline and goal of all-time excessive. 

#1 Loser: PHG Inventory

Koninklijke Philips N.V. (NASDAQ: PHG) inventory tanked 15% on the twenty eighth Oct buying and selling session. As demand from china deteriorates, Dutch cuts its 2024 gross sales outlook. Just lately firm posted its Q3 outcome, which fell in need of expectations. Philips CEO stated whereas there’s a fall in China demand, they see development from different areas. 

There’s a large scarcity in demand from hospitals and customers from China, leading to third Quarter gross sales of 4.38 billion euros, which is lower than in comparison with final yr, which was 4.47 billion euros. 

The buyers appear to be disillusioned attributable to low earnings and demand from the chain, leading to large gross sales. 

PHG/USD 15-Minute Chart

Trying on the chart on a day by day timeframe, we are able to see the worth has corrected by 15.95% in only one single day. Worth was in an uptrend for a very long time, taking help from the trendline whereas making a rising wedge sample. Nonetheless, on the twenty eighth Oct buying and selling session, the worth broke the trendline on the twenty fifth Oct buying and selling session and continued its downward rally consecutively on the second day. 

At the moment, worth is a channel, and making an entry primarily based on FOMO may end up in shedding cash, as RSI is now in an oversold zone. There are two setups during which sellers could make a place. 

1. If the worth involves retest the $27.98 stage and takes rejection, then entry will be made with a goal of $25.06 and cease lack of $29.50.
2. However, if costs proceed to fall and break the $25.09 stage, then entry will be made as soon as the worth involves retest the identical stage with the trailing goal of $20.82 and cease lack of $27.