Reddit hit a record high early last month. Will some traders see an opportunity in the current pullback?
The first pattern on today’s chart is the bullish gap on October 30 after earnings beat estimates. RDDT approached the low of that session on March 10 and again last week. It bounced both times. That apparent double bottom may suggest new support has been...
Alcoa has bounced this month, but some traders could think it’s due for a pullback.
The first pattern on today’s chart is the series of lower lows and lower highs since December. The aluminum company has climbed to the top of that falling channel, which may create potential resistance.
Second, prices stalled at the falling 50-day moving average (SMA) in February...
Palantir Technologies had a dramatic rally in recent months, and now traders may see an opportunity in its latest pullback.
The first pattern on today’s chart is the 50-day simple moving average (SMA). While many other stocks, like Apple and Microsoft, have plunged below their 200-day SMAs, PLTR ended last week above its 50-day SMA. That may reflect relative...
Last year’s presidential election was a catalyst for stocks. Today’s idea considers its potentially shifting impact on sentiment.
The first pattern on today’s S&P 500 chart is the range between 5597 and 5783. Those prices are the low of November 4 and the high of November 5, the Monday and Tuesday of election week.
On January 13, SPX pulled back to find support...
Chevron has gone nowhere for more than a year, but some traders may think that’s changing.
The first pattern on today’s chart is the $162.30 level, the highest weekly close since last May. The energy giant challenged that resistance a few times without success -- but yesterday may have broken it decisively.
CVX also apparently escaped a falling trendline that...
Super Micro Computer has bounced since November, but some traders may expect further downside.
The first pattern on today’s chart is the major slide that began last May. SMCI’s spike in February stalled at a 50 percent retracement of that move. The maker of AI servers also tried and failed to clear its 200-day simple moving average (SMA).
Those signals may...
Energy is emerging as one of the stronger sectors this year, and some traders may see an opportunity in exploration-and-production company Hess.
The first pattern on today’s chart is the January 17 weekly close of $151.35. Prices have challenged this level but not yet closed above it. Could it now serve as a trigger for a breakout?
Second is the series of lower...
Recent weeks have seen a dramatic shift toward global stocks as U.S. markets decline. Now traders may be looking for a breakout in a key ETF tracking the group.
The iShares MSCI EAFE fund, which focuses on developed markets like Europe and Japan, had a quick advance from mid-January through early March. There are at least four takeaways from the rally.
First, it...
Gold miners are one of the top-performing industries this year, and some traders may see further upside in a key ETF tracking the group.
The first pattern on today’s chart of the VanEck Gold Miners ETF is the falling trendline along the highs of October and February. GDX cleared that resistance on Thursday, which may suggest a breakout is underway.
Second, the...
Broadcom has trended higher for more than two years, and some traders may see an opportunity in its latest pullback.
The first pattern on today's chart is the June high around $185. The semiconductor company remained below that level through December 13. It then broke out and has now pulled back to bounce at the earlier peaks. Has old resistance become new...
Silver has been clawing higher as gold soars. Is the white metal ready to break out?
The first pattern on today’s chart is the falling trendline along the highs of October, February and March. Traders could watch that resistance for evidence a move is starting. They may also notice the rally after a similar line was broken in January.
Second, the 50-day simple...
The S&P 500 has been falling swiftly, but it may be considered oversold.
The first pattern on today’s chart is Wilder’s Relative Strength Index (RSI) in the lower study. RSI slipped below 30 for the first time since October 2023. That could make some traders think it’s due for a potential bounce.
Next, the middle study includes our MA Distance custom script. It...
Micron Technology has remained above a key level despite weakness in the broader market. Is it vulnerable to a breakdown?
The first pattern on today’s chart is the September 12 low of $84.12. MU has remained above that level, but would-be sellers may watch for a potential close below that support.
Second, the 50-day simple moving average (SMA) is below the...
Las Vegas Sands has been trying to overcome weakness in travel stocks, but some traders may see downside risk.
The first pattern on today’s chart is the December high around $56, slightly above the peak in February 2024. Its failure to break out could suggest the casino operator is trapped in a range.
Second, the August low of $36.62 may be viewed as the...
Apple held up better than many large technology stocks last week, but traders may still see downside risk in the smartphone giant.
The first pattern on today’s chart is a potential falling channel since December 26. Continuation of that trend may point toward new lows under $210.
Second, AAPL bottomed at $219.71 in the fourth quarter. The previous quarter’s low...
Last week had one of the strangest events of all time: simultaneous declines in the U.S. dollar index and the S&P 500.
This weekly chart includes a special script that calculates the simple change of the main symbol (DXY) and a second symbol (SPX). If they both move in the same direction by a user-defined threshold, the script plots a white arrow in the lower...
Walmart rallied for more than a year, but some traders may see risk of a deeper pullback.
The first pattern on today’s chart is the rising trendline along the lows of August and January. WMT dropped under that support last month and began March turning it into resistance.
Second, prices have breached the 50-day moving average. That may suggest its...
Palantir Technologies has climbed steadily since the summer, but some traders may think the run is nearing an end.
The first pattern on today’s chart is the series of higher lows since early August. The software company is now under that line, which may suggest its uptrend is at risk.
Second, PLTR has made lower highs while holding its February 3 low of $78.47....
