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Best Buy has rebounded from last month’s sharp drop, but some traders may expect another push to the downside. The first pattern on today’s chart is the price zone between $67.16 and $73.28. That matches the bearish price gap on April 3, one day after hefty tariffs were announced. The electronics retailer’s recent peak has also occurred at its trough last May,...

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Tesla has been rangebound for the last two months, and some traders may think it’s running out of road. The first pattern on today’s chart is the March high of $291.85. The EV maker peaked around the same level in late April and remains stuck there again in early May. That may suggest resistance is in place. Will traders look for a return to the recent lows under...

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Automatic Data Processing has moved sideways since the autumn, and now some traders may think it’s ready to move. The first pattern on today’s chart is the series of lower highs since early March. The payrolls-processing company closed above that falling trendline on Friday, which may suggest it’s breaking resistance. Next, prices tested and held their rising...

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Nvidia has been rebounding along with the broader market, and some traders may think it’s getting ready to accelerate. The first pattern on today’s chart is the April 9 high of $115.10. The chip giant has challenged that level in the last two sessions. A close above that resistance may be viewed as confirmation of a breakout. Second is the series of lower highs...

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Bank of America has rebounded sharply in recent weeks, but some traders may expect a move to the downside. The first pattern on today’s chart is the series of lower highs since March 3. Combined with the low in early April, a falling channel may have formed. Second is the price zone between roughly $39 and $40, which represents a basing area March 10-13. BAC is...

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Harmony Gold has been rallying this year along with precious metals, and now some traders may see an opportunity in its latest pullback. The first pattern on today’s chart is the price area around $15.50. It’s near the April 2 high and a 50 percent retracement of the rally following the March breakout. HMY probed that zone yesterday and held it. Is new support...

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This is a conceptual strategy intended for E-mini S&P 500 futures with hourly bars. It uses three signals, going long or short when two or more change in the same direction. First is MACD. A positive oscillator is considered a bullish signal and a falling oscillator is interpreted bearishly. Next, stochastics are used as an overbought/oversold indicator....

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Moving average crosses are popular signals for trend followers. Like many conditions, they tend to reverse after a certain amount of time. Today’s script is designed to help traders visualize and interpret these turns. Bars Since MA Cross counts how many bars have passed since a fast-moving average crossed a slower MA. Bullish readings, with the faster MA above...

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The Relative Strength Index was created by J. Welles Wilder to measure overbought and oversold conditions. It’s also found popularity as an overall measure of direction because upward-trending stocks often hit overbought conditions. The opposite can be true with underperformers. Today’s custom script, RSI Past, attempts to capture this secondary use of RSI as a...

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Many technical analysts use moving average crosses to assess trend changes. A faster-moving MA crossing above a slower-moving line may be viewed as a bullish signal. The opposite can apply to the downside. While these methods may help analyze price direction, they can often force traders to wait until the cross occurs. Sometimes it may be useful to anticipate the...

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There are many price-based techniques for anticipating the end of a move. However, the simple passage of time can also help because bull markets don’t last forever. While old age doesn’t necessarily cause investors to sell, a reversal becomes more likely the longer a trend lasts. So, how long have prices been going up? There are various ways to measure that. Our...

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Moving averages are one of the most common indicators in the world of technical analysis. And they’re often the ingredients of more complex indicators like MACD. Today’s script shows how long prices have been moving in a given direction. Similar to our earlier Price Streak script, MA Streak counts the number of sessions that the average is rising or falling. It...