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Tapestry had a big rally in the first quarter and has been consolidating since. Now some traders may see potential for a move to the upside. The first pattern on today’s chart is the January low of $35.26. The retailer tested and held that level in early August, which may suggest that support is in place. Next, a trio of bullish candles after the most recent...

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Chip stocks have been climbing since early last year. Now, after a healthy pullback, some traders may look for the longer-term uptrend to continue. The first pattern on today’s chart of the Philadelphia Semiconductor Index is the rising 200-day simple moving average (SMA). SOX bounced at this SMA in late 2023 and again last month. The most recent price action...

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Marvell Technology surged on strong results last month. Now some traders may think the chip stock will continue higher. The first pattern on today’s chart is the bullish gap on August 30 after the quarterly numbers. That may reflect positive sentiment in the name -- especially given its potential datacenter AI exposure. Second is the series of lower highs since...

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Cisco Systems rallied on strong results last month. Now, after a pullback, some buyers may see a potential opportunity. The first pattern on today’s chart is the bullish gap after earnings and revenue beat estimates. (Management also announced plans to cut the workforce by 7 percent.) Next, $48.16 was the low from that session. Notice how CSCO pulled back to...

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Homebuilders like Lennar have been climbing as the broader market struggles. Could traders look for more gains as the Federal Reserve prepares interest-rate cuts? The first pattern on today’s chart is the rally to new highs in July, followed by a limited pullback and upside continuation in August. Such price action may reflect accumulation by longer-term...

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Energy is the worst-performing sector so far this year, and some bearish signs may be appearing in Exxon Mobil. The first pattern on today’s chart is the series of higher lows since mid-June. Most of them were followed by higher highs, but a lower high occurred in late August. A lower low followed this week. Is a breakdown starting? Second, prices have slipped...

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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...