Qualcomm rallied to all-time highs in June following a strong earnings report on May 1. Now, after a pullback, some traders may look for further upside.
The first pattern on today’s chart is the 50 percent retracement of the move following the quarterly results. QCOM’s ability to hold that zone may suggest its uptrend remains in effect.
Second, the chip stock...
The Russell 2000 has gone nowhere since December, but some traders may think the small cap index is poised for a move.
The main pattern on today’s chart is the pair of converging lines along the lows since April and the highs since May. Will there be a breakout from this triangle?
Second, Bollinger Band Width has dropped to its narrowest reading since January...
Newmont rallied in March and April. Now, some traders may see potential for a breakout after two months of consolidation.
The first pattern on today’s chart is the May high of $44.59. The gold miner probed the level last week (after unemployment surprised to the upside) and its shares sat near it yesterday. Could a push above that resistance draw buyers from the...
Palantir Technologies has moved sideways for about five months, but now it could be sneaking toward a breakout.
The first pattern on today’s chart is the March 7 close of $26.46. It was the highest closing price for more than two years, but the software company closed above it last Friday. Are investors getting comfortable with higher values? (It was also...
Micron Technology has rallied as AI fuels demand for high-bandwidth memory, and some traders may see opportunities in its latest pullback.
The first pattern on today’s chart is the breakout to record highs on March 21 after results beat estimates. MU continued higher over the next three months before stalling and retracing half the rally. That could suggest its...
The S&P 500 has been fighting higher for the last two months. Is a pullback coming, or could there be more new highs in store?
Consider the series of tight ranges on this chart following rallies to new highs. The first jump occurred on June 5 as Nvidia’s market cap shot past $3 trillion. The second was on June 12 after inflation was lower than expected. The third...
General Motors recently hit a two-year year high, and some traders may see opportunity in its latest pullback.
The first pattern on today’s chart is the price area between roughly $45.70 and $46. The automaker stalled at this level in early April and remained below it all of May. It then broke out sharply on June 10 and has remained above it since. GM tested the...
Sweetgreen started running in March, and some traders may see an opportunity in its latest pullback.
The first pattern on today’s chart is the pair of bullish gaps following the last two quarterly reports. They may reflect bullish sentiment toward the restaurant chain, which issued strong guidance both times.
Second, SG retested and held the late-May low of...
Meta Platforms has been grinding upward for the last two months, and some traders may see potential for a breakout.
The first pattern on today’s chart is the bearish gap on April 25 after guidance missed estimates. The social-media giant avoided making new lows after the drop and recovered, which may suggest that buyers were lurking.
Second is the pre-gap close...
Schlumberger has bounced along with other energy stocks recently, but some traders may see a downtrend taking shape.
The first pattern on today’s chart is the $47 level. It was near the lows in February and early May. SLB is now potentially stalling at the same point. Has old support become new resistance?
Second, the 50-day simple moving average (SMA) has...
Goldman Sachs ran to new highs in late April. Now, after a pullback, some traders may see more upside in the Wall Street giant.
The first pattern on today’s chart is the falling trendline along the highs of May and early June. GS has pushed above that line in the last few sessions, which could be viewed as a potential breakout.
Second, the recent low around $440...
Merck has moved sideways after breaking out in January. Could traders see potential for more upside in the second half?
The first pattern on today’s chart is the range between the closing prices on March 26 and March 28. This channel is less than $7 wide, or approximately 5 percent of the drugmaker’s share price. Could that narrowness give way to...
Silver rallied sharply between March and May. Now, following a pullback, it may be shining again.
The first pattern on today’s chart is the level around $28.88. It was the daily closing high on April 15. Prices tested it and held last week and this week. Has old resistance become new support?
Second, the level roughly matches a 50 percent retracement of the...
Shopify has struggled since late 2021 and now some traders may expect another push to the downside.
The first pattern on today’s chart is the pair of high-volume bearish gaps after quarterly results on February 13 and May 8. Both drops came despite better-than-expected earnings, which may suggest the e-commerce stock is a distribution phase.
Second, SHOP...
AT&T has been fighting higher, and some traders may see an opportunity in the latest pullback.
The first pattern on today’s chart is the falling trendline along the highs of February and April. T broke above it in late May and proceeded to hit a new 52-week high early this month. Notice how prices have retreated and now seem to be stabilizing at the trend line....
Gold rallied in March and April. Now, after a pullback, some traders may expect further upside.
The first pattern on this weekly chart is the breakout above the 2020 peak of 2075. XAUUSD proceeded above 2440 before stalling, but held a 50 percent retracement of the move. That may confirm an ascending trajectory.
Second, price just completed a bullish inside...
Many chip stocks have surged on AI hopes recently, but Advanced Micro Devices has been notably absent.
The first patterns on today’s chart are weekly lows around $161.81 and $172.49. AMD has been stuck between these levels for the past month. In the process, it’s formed a range below its March peak. Will this mark a new top?
Second, prices have been unable to...
APA is struggling, even as the broader market powers to new highs.
The first pattern on today’s chart is the 2023 low of $30.67. The oil and gas driller has spent much of this year near and below that old level. It’s also made incrementally lower lows. That may suggest support is breaking.
Second, the 50-day simple moving average (SMA) had a “death cross” under...
