Elanco Animal Health (ELAN: NYSE)

Elanco Animal Health (ELAN) focuses on innovating and marketing products for pets and farm animals. In its earnings release, CEO Jeff Simmons attributed the company’s growth to “accelerating contribution from innovation, stabilizing core volumes, price growth, and improved market conditions in Europe.”

Animal health is a promising sector for growth investors due to the increasing rate of pet ownership. Approximately 70% of U.S. households now own a pet, up from 56% in 1988. As a major player in this market, Elanco is well-positioned to benefit from this secular growth trend.

Elanco recently received continued approval from the U.S. Environmental Protection Agency (EPA) and support from the Food and Drug Administration (FDA) for its Seresto flea and tick collar for dogs and cats. This approval is expected to open a significant new revenue stream and increase market share, likely driving the stock price higher.

We are bullish on ELAN above $14.50-$15.00, with an upside target of $22.00-$23.00. Investors should monitor Elanco’s innovations and market expansions, particularly with products like Seresto, to capitalize on the growing demand in animal healthcare.

Conflux (CFXUSDT)

CFX could be a significant mover based on the emerging China narrative that surfaced yesterday. If there’s a pump related to the Chinese news, it’s likely that most altcoins will benefit, but we’ve highlighted CFX as a specific China narrative play in case some Chinese tokens start gaining momentum. The technical indicators show promising signs: CFX has broken the 50-day Moving Average and the daily downtrend, suggesting a potential bullish trend.

To capitalize on this opportunity, enter a trade at the current price or within the $0.223 to $0.227 range. The potential targets for taking profit are set at $0.242 and $0.258. However, it’s crucial to manage risk appropriately. If the price closes below the lows around $0.22, it could indicate further weakness, and the bullish thesis would be invalidated. Therefore, set a stop loss at a candle close under $0.22 to protect your position against potential downside.

Render (RNDRUSDT)

Render (RNDR) is currently experiencing a period of low volatility, as evidenced by the Bollinger Band width being at the bottom. This often precedes an expansion phase, suggesting that a significant price movement could be on the horizon. The Simple Moving Average (SMA) is acting as a support level, maintaining the bullish structure of the asset.

A potential catalyst for increased volatility and upward movement in RNDR is the upcoming Apple Worldwide Developers Conference (WWDC) on June 10th. Historically, RNDR has been sensitive to Apple events and announcements, particularly those related to AI and graphics technologies like Octane and Render. If the iOS 18 presentation includes mentions of these technologies, it could spark significant interest and price action in RNDR.

To capitalize on this potential movement, consider entering a trade around the current price level of $9.75. Set your take profit targets at $11.6 and $13.8, to capture gains if the price rises. To manage risk, place a stop loss at $9.0, ensuring you limit potential losses if the price moves against your position.