Target has sputtered as the broader market recovers, and some traders may think the retailer has further downside risk.
The first pattern on today’s chart is the steady decline between early February and early April. TGT tried to stabilize after the move but barely rebounded. It also failed to hold the rally on May 12 after Treasury Secretary Scott Bessent cut...
Biotechnology stocks have struggled this year along with the broader health-care sector, but some traders may think a bullish turn has begun.
The first pattern on today’s chart of the Nasdaq Biotechnology Index is the series of lower highs since early April. NBI closed above that falling trendline yesterday, which may signal a change of direction.
Second, you...
Occidental Petroleum has staggered since tariffs were announced in early April, and some traders may expect the energy driller to continue lower.
The first pattern on today’s chart is the March 5 low of $44.70. The tariff news drove OXY through that support to a three-year low. It then rebounded but stalled at the previous low. Has old support become new...
TJX fell sharply after its latest earnings report, and some traders may see more downside risk.
The first pattern on today’s chart is the drop on May 21 after backward-looking results beat estimates, but forward-looking guidance disappointed. Also notice the action on February 26, when an initial pop faded. Those reactions contrast with many post-earnings...
Crude oil futures have teetered for weeks, and the bears may be getting ready to pounce.
The first pattern on today’s chart is the sharp drop in early April after President Trump announced higher-than-expected tariffs. CL1! quickly broke the 65.27 level where it bounced in September and early March. Prices have stayed there since, which may reflect a lack of...
Lam Research rallied sharply in late April and early May. Now, after a period of consolidation, some traders may expect a breakout.
The first pattern on today’s chart is the bullish price gap on May 12 after Treasury Secretary Scott Bessent lowered tariffs on China. LRCX spent the next two weeks in a range between $79.78 and $86.04, while holding above its March...
International Business Machines is the top-performing member of the Dow Jones Industrial Average this year, and some traders may think it will keep climbing.
The first pattern on today’s chart is the push above $269 last week. The IT company pulled back after hitting that record peak, but found support at its rising 21-day exponential moving average (EMA).
It...
DoorDash has been consolidating for months, and now some traders may look for more upside.
The first pattern on today’s chart is March’s low, April’s lower low and May’s higher low. That rounded basing pattern is a potentially bullish continuation pattern.
Second, DASH got stuck at a falling trendline last month but now seems to be free of it.
Third, the...
Expedia started rallying last summer, but now some traders may think the travel stock is turning lower.
The first pattern on today’s chart is the drop between late February and early April. EXPE retraced about half that decline by early May before stalling. It also hit potential resistance at the March 28 weekly closing price of $168.10. Those points may confirm...
Las Vegas Sands bounced sharply in recent weeks, but some traders may think its longer-term downtrend will resume.
The first pattern on today’s chart is the decline from mid-December through early April. The casino stock retraced half that move before stalling. It also seems to be hitting resistance at a weekly close from March 21.
Second, the 50-day simple...
The S&P 500 hit a new all-time high in February. However, by one measure it’s been in a bear market all century.
Today’s monthly chart shows SP:SPX as a ratio against gold. Using this comparison, equities have underperformed since Bill Clinton was still President in August 2000.
It illustrates how stocks languished in the 1970s, before starting an 18-year run...
Platinum has been dead money for years, but now it may be coming to life.
The first pattern on today’s chart is the falling trendline along the highs of last May and October. The metal just ripped through that resistance with its biggest daily gain since December 2022.
Next, MACD is rising and the 8-day exponential moving average (EMA) is above the 21-day EMA....
The S&P 500 has enjoyed a powerful rally in the last month, and now some traders may anticipate a sideways move.
The first pattern on today’s chart is 5,971, the final weekly close of 2024. The index chopped on either side of that level a few times in January and early February. It stalled there in late February and early March as tariffs were confirmed on Mexico...
eBay has quietly snuck to multiyear highs, and some traders may look for further upside.
The first pattern on today’s chart is the February 26 peak of $71.61. At the time, it was the highest level since November 2021. However, EBAY broke it on Friday and continued upward on Monday. That could suggest it’s breaking out.
Second is the April 1 high just below $69....
Newmont has been climbing this year, and some traders may see further upside in the S&P 500’s only pure-play gold miner.
The first pattern on today’s chart is the pullback since mid-April. The lower low, lower high and second lower low may be viewed as a potential A-B-C correction. Completion of such a formation may suggest a longer-term uptrend is poised to...
The broader market has rebounded sharply in the last month, but Apple might be getting left behind.
The first pattern on today’s chart is the April 15 peak of $212.94. The smartphone giant probed that level in early May and again last week without breaking it. (The more recent high was also slightly lower.) That may suggest resistance is in place.
Second, the...
Exact Sciences jumped on strong earnings two weeks ago, and some traders may think the oncology stock has further upside.
The first pattern on today’s chart is the bullish price gap on May 2 after results beat estimates. Prices apparently broke a falling trendline in the process.
EXAS then consolidated before ending yesterday at a three-month high. Is it getting...
The SPDR Select Sector Energy ETF has been plagued by some long-term negatives, but some traders may see those issues becoming more positive.
Today’s idea uses two-week candles to give a long-term view. The first key pattern is the 2023 low of $75.36, which XLE tested and held during last month’s tariff panic. That may suggest support is in place.
Second, the...
