JPMorgan Chase has rallied sharply in recent sessions, but some traders may see downside risk.
The first pattern on today’s chart is the series of lower highs and lower lows since mid-February. JPM is returning near the top of that descending channel. Could another lower high result?
Second, JPM is potentially stalling at the March 31 low of $237.36. Old support...
The broader market has been tumbling for months, but CrowdStrike has stood its ground.
The first pattern on today’s chart is the March 10 low of $303.79. While the Nasdaq-100 has revisited levels from over a year ago, CRWD has held lows from a month prior. Support at such a recent level may reflect positive sentiment.
Second, Wilder’s Relative Strength Index...
The Philadelphia Semiconductor Index has been skidding lower, and some traders may think it’s broken support.
The first pattern on today’s chart is last April's low of 4288. SOX bounced at that level last August and on March 11. But the index slid below it last week and this week peaked near the same zone. Has old support become new resistance?
Second, the 8-day...
Gold has been in an uptrend this year, and some dip buyers may see an opportunity in its latest pullback.
The first pattern on today’s chart is the series of higher highs and higher lows since January. XAUUSD has dipped to the bottom of that rising channel. Will it become another higher low?
Second, the pullback stabilized near the February high around 2956....
Stocks have recently experienced selloffs reminiscent of the subprime crash and Covid. However, there might be something different this time.
This monthly chart of the S&P 500 highlights the three moments in history. The Global Financial Crisis is marked in white. The coronavirus pandemic is in teal and the tariff selloff is colored yellow.
Simple price action...
The S&P 500 has struggled recently, and some traders may see risk of further downside.
The first pattern on today’s chart is the three-day jump above 5,700 early last week. The move peaked around the January low of 5,773. It also represented a false breakout above the November low of 5,696.50.
In other words, two former support levels have emerged as new...
Apple has tried to bounce recently, but some traders may think the tech giant has peaked.
The first pattern on today’s chart is the February low of $225.70. AAPL broke under the level on March 11 and has stayed there since. That may suggest old support is new resistance.
The stock has also remained below a 50 percent retracement of last month’s slide, which may...
Stocks have been tumbling for more than a month, but Uber Technologies has quietly outperformed.
The first pattern on today’s chart is the series of higher lows since mid-December. They contrast sharply with the S&P 500, which has mostly experienced lower highs.
Second, the 50-day simple moving average (SMA) recently had a “golden cross” above the 200-day SMA....
The Nasdaq-100 has pulled the broader market lower since late February. What could be next for the tech-heavy index?
The first pattern to consider is the 20,315 level: its post-election pullback low on November 15. NDX slid below that price in early March and rebounded to stall at the same area last week. That could make some chart watchers think old support has...
Dell Technologies has been crumbling since November, and some traders may see further downside risk.
The first pattern on today’s chart is the series of higher lows between March 10 and 25. The computer maker slipped below the rising trendline this week, which may be viewed as a potential bear-flag breakdown. (Similar moves recently resolved to the...
The 10-Year Treasury yield has been rangebound for about 1-1/2 years, but some traders may see upside risk.
The first pattern on today’s chart is the series of lower highs since October 2023. TNX violated the trendline in December and may be holding above it now. That could suggest a period of downward movement has ended.
Second is the December low of 4.13....
Advanced Micro Devices has bounced sharply this month, but now the semiconductor stock may have hit a wall.
The first pattern on today’s chart is $116.04, the weekly close from January 10. AMD stalled at that level on February 20 and seems to be halting there again in late March. Has old resistance become new support?
Second, the 50-day simple moving average...
Pfizer has struggled for years, and some traders may see risk of further downside.
The first pattern on today’s chart is the slide to a new 12-year low in October and November. The drugmaker barely retraced half that move at subsequent highs. It also remained mostly below its October low of $26.87. That may suggest old support has become new resistance.
Second...
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...
