Autodesk has been squeezing near a two-year high, and some traders may expect a breakout soon.
The first pattern on today’s chart is the attempted rally on March 1 after earnings, revenue and guidance beat estimates. A falling trendline appeared as the software company pulled back, but it’s now pushing above that resistance.
Second, prices have held the rising...
Berkshire Hathaway broke out to new highs in January. Now after a pullback, it may be continuing higher.
Consider the price zone around $400 on today’s daily chart. It has a potential double significance. First, it represents a 50 percent retracement of the move between January 23 and the high of February 26. Second, it’s near a high on February 13 that was...
BorgWarner has tumbled since the summer, and some traders may see risk of further downside.
The first pattern on today’s chart is the price zone around $32.75. The auto-parts company made lows there in December and January. It peaked at the same area this month. Has old support become new resistance?
Second, BWA is stalling at its falling 50-day simple moving...
Investors have been optimistic about interest rates and inflation for much of the past year. However, two important charts may undermine those hopes.
Today’s weekly chart returns to the yield on the 10-year U.S. Treasury note.
First consider the series of higher lows since July 2022 – despite improvements in headline inflation numbers. That rising trendline may...
Intel has fallen, and some traders may think it can’t get up.
The first pattern on today’s chart is the bearish gap on January 26, triggered by weak guidance. The chipmaker has failed to recover since, even as the broader semiconductor index surged to new record highs. That may suggest it’s less favored than peers.
Second is the January 17 close of $46.06. INTC...
United Rentals has trended higher since October, and some traders may see opportunities in its current pullback.
The first pattern on today’s chart is the rally to new highs on January 25 after earnings beat expectations. The industrial stock has held that move without a significant retracement, which may suggest that buyers outnumber sellers.
Second is the...
Microsoft has been rallying since October, and now a recurring pattern may be present again.
This chart highlights bullish breakouts by the software giant in October and January.
First you have tight consolidation against support. MSFT first held the October 13 closing price of $327.73, followed by the December 4 closing price of $369.14.
In both cases falling...
Semiconductors showed signs of stalling last week, and Advanced Micro Devices might have confirmed a potentially bearish pattern.
Today’s chart highlights the big price swing on March 8, which featured a record high and then a close below the previous session's lows. The resulting candle was both a “shooting star” and a bearish engulfing bar.
AMD proceeded to...
Megacap growth stocks like Nvidia have outperformed for years. But traders looking for the trend to change may see more evidence of a shift.
Today’s idea considers three charts. The first shows how Nvidia (NVDA) rallied 93 percent this year above its previous record high. It also highlights the big price swing on Friday as the chip giant made a new record high...
Verizon Communications has rallied since late October, and some traders may think its uptrend is fading.
The first pattern on today's chart is the pair of bullish gaps on October 24 and January 23 after strong quarterly reports. Notice how prices continued higher after the initial surge, but faded after the second move. That may suggest improved fundamentals are...
Capital One Financial rallied to a 21-month high in late January and paused during February. Now some traders may see upside potential in March.
The first pattern on today’s chart is the series of higher lows with prices remaining below its January 26 close. That ascending triangle is a potentially bullish continuation pattern.
Second, the 8-day exponential...
Royal Caribbean Cruises has spent more than two months consolidating, but it may be getting ready to move again.
The first pattern on today’s chart is the trendline along the closes of December 28 and January 31. RCL ended yesterday above it, which could make some traders think the stock is breaking out.
Prices are also pushing above their 50-day simple moving...
Treasury yields have had a big impact on stocks since the Federal Reserve started hiking rates in 2022. Now one of the biggest charts in that market might have done something important.
Today we focus on the 10-year Treasury note’s yield, measured by the index TNX.
The first pattern is the 4.324 percent level. It was a peak in June 2008 and again last August....
The late 1990s saw one of the most famous bull markets of all time. Are there comparisons between that historic moment and today?
Today’s idea attempts to answer that question with three indicators.
First is Wilder’s Relative Strength Index (RSI), which remained above 50 throughout almost the entire calendar year of 1995. Similar moments in history marked the...
Caterpillar broke out to new highs a month ago, and now some traders may think an uptrend is in place.
The first pattern on today’s chart is the close on January 25. It was slightly above $300 and the previous record close on December 27. CAT consolidated above that level for the following week, potentially reflecting investor comfort with the new highs.
The...
Affirm ended 2023 with a sharp rally. Now, after two months of consolidation, some traders may look for further upside.
The first pattern on today’s chart is the $36.12 level, a weekly low from early December. The buy-now-pay-later stock has tested and held that price, which may suggest that buyers are lurking.
Second is the falling trendline that began at of...
Material stocks have been stuck in a tight range since the bear market began almost two years ago. But they could be showing signs of a potential breakout.
The first pattern on today’s chart of the AMEX:XLB Materials Select Sector SPDR ETF is Friday’s last print of $86.83. It was the highest weekly close since May 2022. That may suggest that investors are...
Jefferies Financial has been a tight range near old highs, and some traders may expect a breakout soon.
The first item on today’s chart is the ascending triangle since 2024 began. The investment bank was initially trapped under $41, but more recently has pushed above that level. Is it breaking the continuation pattern to the upside?
Second, JEF is near the...
