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Salesforce has limped as other tech stocks hit new highs, and some traders may think it’s going into distribution. The first pattern on today’s chart is the bearish price gap on May 29 despite better-than-expected quarterly results. That may reflect waning enthusiasm about the software company’s fundamentals. Second is the pre-earnings closing price of $276.03....

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Intel has been falling for years, but some traders may think it’s still not cheap enough. The first pattern on today’s chart is the series of higher lows since April, combined with lower highs since February. That converging range is a potential consolidation pattern. Second, the chipmaker broke that range by gapping lower on Friday following a weak quarterly...

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Texas Instruments fell sharply last week, and now it may be oversold. The first pattern on today’s chart is the price zone on either side of $185. It’s near the peaks in late March and a consolidation zone in late May. (The May 30 weekly close is in a similar area.) TXN held near that level last week, which may confirm old resistance has evolved into new...

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Applied Materials recently hit a nine-month high, and now it’s pulled back. The first pattern on today’s chart is June 27's weekly close of $183.21. The chip-equipment company has bounced above that level, which may suggest new support is in place. Second is the series of lower highs since mid-July. AMAT began this week by jumping above that trendline. Could the...

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Healthcare has been the weakest sector in the past year, but some traders may expect a comeback in Edwards Lifesciences. The first pattern on today’s chart is the breakout on Friday after earnings and revenue beat estimates. That rally brought EW into a bearish gap from one year ago. Second is the May 16 high of $78.28. The heart-valve company spent more than...

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Netflix has pulled back from record highs, and some traders may see potential opportunities in the streaming video giant. The first pattern on today’s chart is the $1,156.49 level. It was a weekly close on May 2 and near the high the following week. NFLX is now showing signs of potential stabilization near that level. Is new support emerging? Second, prices hit...

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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...