Everyone’s been so focused on the banks lately that they might have missed some potentially bullish happenings on the Nasdaq-100.
The first pattern on today’s chart is the 21-day exponential moving average (EMA). Other big indexes like the S&P 500, Dow Jones Industrial Average and Russell 2000 are well below the same lines on their respective charts. But the...
Chinese Internet stock Baidu more than doubled between November and early February. Now some traders may be eying its current pullback.
The first pattern on today’s chart is the $131 area. It was a low on February 24 and again last week.
Second, the 50-day simple moving average (SMA) had a “golden cross” above the 200-day SMA on February 8. That may suggest...
Semiconductors have outperformed lately as investors get excited about demand from artificial intelligence (AI). Today’s chart considers equipment supplier Lam Research.
The first pattern is the rising 50-day simple moving average (SMA). LRCX has consolidated in a tight range around that line during the last three weeks, a potential sign the intermediate-term...
Cisco Systems jumped on a strong quarterly report last month. However there’s been little follow-through, which could make some traders feel bearish.
The first pattern on today’s chart is the bullish price gap on February 16 after earnings, revenue and guidance beat expectations. Unfortunately for the bulls, CSCO’s high occurred just 19 minutes after the opening...
Snap has been rallying as lawmakers move against TikTok, but traders may be selling the news.
Today we’ll consider the daily chart of the social-media company, which has struggled since growth names hit the wall over a year ago.
The first pattern is the jump above $12.50 on Tuesday, fueled by the news from Capitol Hill. SNAP failed to hold those gains, resulting...
Target has limped after plunging 10 months ago. Now it may be showing signs of another push to the downside.
The main pattern on today’s chart is the bearish price gap on May 18. (Results missed estimates and management gave a bleak outlook.) TGT has failed to reclaim that drop, which may reveal little optimism about a comeback.
The retailer has also remained...
Industrial stocks have outperformed in the past month. Today’s chart examines a big name in the sector: farm-equipment maker Deere.
First consider the high basing pattern above $400 so far in 2023. It’s a higher low than the troughs of July and September, potentially establishing new support near the previous all-time high from last April.
Next, DE was...
Nike pulled back along with the rest of the market last month. Is it creating opportunities with quarterly results later in March?
The first pattern on today’s chart is $116.75. It was the low a year ago and near the high in mid-August. NKE paused there in December before continuing toward $130. The athletic-apparel stock is also bouncing above the same zone...
Exxon Mobil has steadily advanced for more than a year, and its current pullback may interest trend followers.
The first pattern on today’s chart is $104.76, XOM’s previous all-time high from 2014. Notice how this level was resistance for the energy giant last June, followed by an October breakout. Prices probed and held the same area in December and January. Has...
The S&P 500 has endured its sharpest decline of the year. Is it a healthy pullback, or the start of a new bearish leg down?
This chart considers a few patterns that might help answer that question.
First, the index fell as low as 3943 last Friday. It was below the 50-day simple moving average (SMA), but it quickly snapped back. Some technical analysts may view...
Uber Technologies rallied sharply between late 2022 and early February, but it could be showing signs of exhaustion.
The first pattern on today’s chart is the price action on February 8. UBER jumped on strong quarterly results but failed to hold early highs. It then swung wildly, creating a potential “hanging man” candlestick. That’s a potential reversal...
Diabetes company DexCom has consolidated for about four months, and now it could be trying to move again.
The first pattern on today’s chart is the bullish candle on February 10 after earnings beat estimates. It followed a similar rally on October 28, suggesting that investors are pleased with its fundamental performance.
The earnings surge established DXCM...
Marathon Oil has staggered along with other energy stocks in recent months, and now traders may see risk of a selloff.
The first pattern on today’s chart is the series of lower highs since mid-November while prices bounced at or near $26. A potentially bearish descending-triangle pattern has been the result.
Second, consider how that triangle began soon after...
Adobe has been climbing after a sharp slide last year, but now traders may start to worry about another move to the downside.
The first pattern on today’s chart is the peak on February 2, one day after Jerome Powell’s “disinflation” comment lifted spirits. ADBE pushed above its September high of $396.39 but didn’t hold. That kind of false breakout could suggest...
Block was a prominent growth stock before and during the pandemic. Like most companies of that type, it fell sharply between late-2021 and late-2022 as interest rates rose. But now it may be showing signs of bottoming and potentially turning higher.
The first pattern on today’s chart is last November’s high of $75.77. SQ broke above that level in late January and...
Apple jumped after its last quarterly report and barely pulled back. Now the price action may have turned into a bullish continuation pattern.
Notice the higher lows on February 3 and 10. The tech giant remained trapped beneath roughly $154.50 throughout this period. The result is an ascending triangle that prices are now trying to break. Is it possible that the...
Treasury yields have been falling since October as traders look for inflation to cool. But now there could be signs of a rebound.
This chart of the 10-year Treasury note’s yield highlights the series of lower highs in November and December. TNX kept squeezing downward in January, but this month jumped back above the trendline. Is the period of consolidation...
Like many technology stocks, Advanced Micro Devices has rebounded sharply in 2023, but is it due for a pullback? This chart considers a few indicators and patterns to address that question.
First, prices shot through the top of the Keltner Channel in early February but are now back inside the bands. Based on other moments, like early August, mid-October and late...
