Discount retailers like Dollar General have struggled all year. Now, after a drop and rebound, sellers may return to the name.
The first pattern on today’s chart is the series of lower highs since May, which have produced a falling trendline. DG is now back at this line. Will the downtrend reassert itself?
Prices are also near the 50-day simple moving average....
Netflix jumped earlier this month after announcing results. It’s now consolidating, and some traders may see potential for more upside.
The first pattern on today’s chart is the bullish gap on October 19 following the quarterly report. Prices cleared a peak of $394.90 from two weeks prior and have remained there since. Has old resistance become new...
Starbucks has drifted lower since May, and now traders may see further downside risk.
The first patterns on today's chart are the candlesticks on October 19 and October 25. SBUX tried to get above $95 but failed to close there in two separate weeks. Such price action could reflect selling pressure.
Next, the coffee chain stalled at a low from July 7. Has old...
Micron Technology has steadily climbed this year, but now there could be signs of exhaustion.
The first pattern on today’s chart is the rising trendline along the lows of December, March, August and September. Prices have pushed back toward this support, which may suggest it’s getting ready to break.
Next is the falling resistance that began in mid-September....
Snowflake fell sharply in early 2022. It drifted sideways for more than a year, and now traders may think the software stock is ready for another leg lower.
The first pattern on today’s chart is the double-top in June and July. SNOW has declined since, confirming the bearish formation.
Next, a series of lower highs following the double top has produced a falling...
Synopsys has pulled back after hitting new highs, and trend followers may take notice.
The first pattern on today’s chart is the four-month consolidation pattern between May and early October. SNPS was mostly trapped below $465 during that time. But it broke out on October 6 and is now pulling back to that level. Has old resistance become new support?
Second is...
The Euro has faced steady selling pressure since July, but now there may be signs of the currency bottoming against the greenback.
The first pattern on today’s chart is the falling trendline along the weekly highs. EURUSD has been pushing above that resistance this week. Notice how it started rallying a year ago after breaking a similar trendline.
Second is the...
CrowdStrike has been making new 52-week highs as the broader market languishes. Now after a quick pullback, some traders may look for the cybersecurity stock to continue higher.
The first pattern on today’s chart is the bullish gap on August 31 after results and guidance beat estimates. A series of higher highs and higher lows followed, which may suggest a new...
The S&P 500 has been under pressure since the summer. Today we’ll consider some patterns that may give clues about the big index.
First is the price gap from September 21, one day after the Federal Reserve gave a “higher for longer” message. SPX flirted with that price zone for six sessions without breaking through it. Has new resistance emerged?
Interestingly,...
Rivian Automotive skidded lower in August. Now, after a period of consolidation, traders may think more downside is coming.
The first pattern on today’s chart is the 50-day simple moving average (SMA). RIVN initially tied to hold this intermediate-term trend in late August and early September. But it’s turned lower in the past month.
Second, RIVN bounced at its...
NextEra Energy fell sharply in late September as higher interest rates impacted the value of its wind and solar farms. Now after a bounce, momentum bears may look for a retest of recent lows.
The first pattern on today’s chart is the selloff that began on September 27 after its NextEra Energy Partners (NEP) limited partnership cut its long-term growth forecast....
Homebuilders like D.R. Horton were some of the top-performing stocks in the first half. Now, after a healthy pullback, traders may look for continuation into yearend.
The first pattern on today’s chart is the April 19 close of $101.86. DHI gapped higher the following session and kept climbing for the next three months. The stock then rolled over and fell through...
Advanced Micro Devices more than doubled in the first half of the year. Now, after a healthy pullback, the semiconductor stock may be ready to climb again.
The first pattern on today’s chart is the falling trendline along the highs of June, August and September. AMD pushed through that line last week and has remained above it since.
Next, the $105 area was a...
Bitcoin could be rangebound until a catalyst emerges.
The first pattern on today’s chart is the price level around $28,122. It was an intraday peak in late August and the daily close on October 1. The cryptocurrency began this week near that level but sellers quickly drove it down its range.
Prices have next tried to hold a support line around $26,500. If they...
Oil refiner Valero Energy fell sharply in recent weeks, but dip buyers may see opportunities.
The first pattern on today’s chart is the price area between about $126 and $130. VLO chopped at these levels in August before surging to an all-time high in September. It’s holding that zone again, which may suggest it’s become support.
Second, the price area matches...
The fourth quarter has begun, and attention may soon turn to holiday spending and Black Friday. Today’s chart focuses on Shopify, a key player in the growing world of online commerce.
The first pattern is the August low of $51.20. SHOP has flirted with this level for almost two weeks without closing below it. Is support in place?
Second, the consolidation has...
Palantir Technologies more than doubled between early May and late July. Now, after a period of consolidation, trend followers may return to the software company.
The first pattern on today’s chart is the rectangle between roughly $13.68 and $16. PLTR chopped in this range for almost eight weeks, but closed above it on Friday. That could make some traders think...
Crude-oil futures are having their worst week since March, but some traders might think about buying the pullback.
The first pattern on today’s chart is the price area around 83.50. It represented the peak for CL1! in December and April. It’s also near the spot where prices stalled in early August before continuing higher in early September. Black gold is now...
