Energy stocks have been running lately. One big name has lagged but may play catch-up: BP.
The first pattern on today’s chart is the $37.36 level. It was the opening price on May 2 when the stock gapped lower. Prices have remained below that line since, which may create the potential for a breakout if resistance gives way.
Second, May ended with a false...
Oracle gapped to record highs almost two months ago, and now it could interest some trend followers.
The first pattern on today’s chart is the $114.34 level. It was both the opening price and low on June 12, the same day earnings and revenue beat estimates. The software company held that zone in late June, mid-July and again last week. Interestingly, it’s exactly...
Apple gapped lower on Friday thanks to a ho-hum quarterly report. Is it an opportunity for longer-term buyers?
The first pattern on today’s chart is $182.94, the previous all-time high from early 2022. AAPL challenged this price on June 5 after unveiling its virtual-reality headset but was initially rejected. The stock kept pushing and made new highs a couple of...
Alphabet jumped to a new 52-week high on strong results last week. Now it may be giving trend followers a potential opportunity.
The first pattern on today’s chart is the bullish gap on July 26 after revenue beat estimates and its Cloud business surprised to the upside. GOOGL has retraced half that move, which could attract dip buyers.
The current level is...
Morgan Stanley jumped to a four-month high after earnings beat estimates in July. Now it may be giving traders a pullback opportunity.
The first pattern on today’s chart is the basing pattern around $82 after the collapse of Silicon Valley Bank in March. MS’s ability to hold that price zone may reveal the presence of long-term buyers of the investment...
The Dow Jones Industrial Average has been moving lately, and today we’ll consider index member Cisco Systems.
The networking giant spent about a year trapped below the $52 area. That zone marked a top in April, June and early this month. However CSCO broke above it on July 19 and ran to a new 52-week high. It retreated on Friday to hold the earlier peak. Old...
Marvell Technology has squeezed in a tight range for two months, and now traders may see potential for continuation to the upside.
The first pattern on today’s chart is the bullish gap on May 26 after earnings, revenue and guidance beat estimates. The chip company also predicted quick growth in Artificial Intelligence (AI). MRVL proceeded to move sideways...
Delta Air Lines rallied in June as travel recovered leading into the summer. Now after a period of consolidation, some traders may look for the uptrend to continue.
The main pattern on today’s chart is the $46.30 level, the high during all of 2022. DAL broke above it after raising guidance, tested it on July 14 after reporting results and is trying to hold it...
Netflix rallied into quarterly results last week, only to fall on weak revenue. Today’s chart considers some potential points for dip-buyers looking to add the streaming giant.
First you have the rally that began on May 18 after strong demand for its ads in an “upfront presentation” to Madison Avenue. Retracing half the move would bring the shares back to roughly...
Snap has moved sideways for a year, but some traders may expect its prior downtrend to resume.
The first pattern on today’s chart is the series of bearish gaps following the last four quarterly reports. The social-media stock held its ground after those drops -- probably because it had already lost about 80 percent of its value in the preceding nine months. But...
ConocoPhillips has traded in a flat range since the end of winter, but now the oil and gas driller could be attempting a breakout.
The first pattern on today’s chart is the $110 level. It was the high for both May and June. COP’s rally this month pushed it through that price. This week, it held the level. Has old resistance become new support?
Next are the...
The S&P 500 has enjoyed a strong run with new 52-week highs for six straight sessions. But some traders may consider waiting for a pullback -- especially with the Federal Reserve meeting next week.
The first pattern on today’s chart is Wilder’s Relative Strength Index (RSI). It moved back above the overbought threshold of 70 this week. While frequent overbought...
Walt Disney has lagged the broader market this year, and now traders may see risk of further downside with earnings due on August 9.
The main pattern on today’s chart is the succession of lower highs in May, June and July. Combined with the late-May low around $87, those peaks have created a descending triangle. The media stock closed below the bottom yesterday,...
MercoLibre’s been sliding for almost two months, but there could be signs of a turn.
The first pattern on today’s chart is the $1095.34 level. It marked the high last summer and was near the low in mid-February. MELI pulled back and bounced at it this week, a potential sign that support is in place.
Second, that level closely matches the 200-day simple moving...
Advanced Micro Devices rallied in May and early June. A pullback followed, and now trend followers may return to the name.
The first pattern on today’s chart is the drop toward $107 in late June. That represented a 50 percent retracement of the initial thrust. Holding that zone could validate the direction of the move.
Second is the tight consolidation pattern...
Travel stocks have climbed recently, and now Caesars Entertainment could be showing signs of strength.
The first pattern on today’s chart is the falling trendline along the highs of February, March and mid-June. The casino operator pushed above it at the end of the last quarter and returned there on Monday. Further upside from here could make traders think...
Intel has struggled to keep pace with chip makers like Nvidia and Advanced Micro Devices for years. Now after an attempted turnaround, the bears may be returning.
The first pattern on today’s chart is the three-week rally in late May and early June. INTC halted at $36.96, its highest closing price since the stock gapped lower on July 29, 2022. A test and...
Starbucks has staggered since late 2022, and now traders could see risk of a push lower.
The first pattern on today’s chart is high-volume bearish gap on May 3 after the coffee chain issued weak guidance. The stock held it 50-day simple moving average (SMA) for about two weeks after the drop, then continued lower to its 200-day SMA.
SBUX spent about five weeks...
