Oracle has performed better than most technology and software companies, and now it may be attempting a breakout.
The first pattern on today’s chart is the triangle that took shape in December. Prices ended 2022 slightly above the top, and buyers jumped in yesterday.
Second is the $84.50 level. It was resistance in June 2021, support three months later and then...
Netflix has been trying to recover from a bearish gap on April 20, but now the bounce may have run its course.
The first pattern on today’s chart is the March low of $329.82. NFLX peaked near the same level in mid-December. Has old support become new resistance?
Next is the sharp drop on December 15 after Digiday reported weak advertising metrics. That dragged...
Today we’re considering the weekly chart of gold, which could be trying to shine as 2022 draws to a close.
The main pattern is the $1,800 level, which emerged as resistance in November 2011 as the yellow metal ended its last major bull market. XAUUSD remained below the level for almost an entire decade, then surged back to break it as the coronavirus pandemic...
Exxon Mobil is the fourth-biggest gainer in the S&P 500 this year, according to TradeStation data. Its recent pullback may interest trend followers.
The first pattern on today’s chart is the consolidation over the last two weeks. Notice how XOM made a higher low last week and has now pushed through a falling trend line.
Next is the level around $104.76. The...
Meta Platforms has been under heavy selling pressure all year. Now some traders may look for the social-media giant to retest its lows.
The first pattern on today’s chart is the 50-day simple moving average (SMA). META has remained mostly below this line since 2022 began. That could make trend followers expect prices to continue lower after its most recent test...
Royal Caribbean Cruises drifted higher since the summer, but now it may be rolling over.
The first pattern on today’s chart is the level around $61.45, where the leisure stock bottomed in March before proceeding to new lows. RCL peaked around that price on November 15 and December 1. (Both were also monthly highs.) That may suggest old support has become new...
General Motors has moved sideways for months, and now traders may look for the automaker to test support.
The key pattern on today’s chart is the channel between roughly $31 and $42. GM hit the top of the channel in September and tested the low in mid-October. Prices peaked near that resistance again last month, but remain about $5 above the bottom. That may...
Market sentiment remains historically bearish, with many strategists expecting new lows in the New Year. But recent price action might not be working in their favor.
The main feature on today’s chart is the falling trendline along the highs of January, March and August. SPX tried and failed to break that resistance two weeks ago. Yesterday it was right back at...
One of the most overlooked trends recently could be the rally in Goldman Sachs.
Today we’re considering some potentially important technicals after the investment bank surged 35 percent between mid-October and mid-November.
The first question is, how much of a pullback to expect? This chart draws a Fibonacci retracement from $299.99, the weekly close...
Megacap technology stocks like Apple have dragged on the market amid disruptions in China. But what if the iPhone giant manages to bounce? Could it give the bigger indexes a boost?
The main pattern on today’s chart is the $140 level. This price first had importance on November 8, when AAPL first tried to rebound from its China-related weakness. It was resistance...
Big pharma hasn’t gotten the memo about there being a bear market. Just look at Amgen.
The biotechnology stock jumped to a new record high on November 8. The breakout followed a strong earnings report and data about its olpasiran cholesterol drug.
It’s consolidated in a tight range since then, demonstrated by the narrowing of Bollinger Bandwidth. That may...
United Airlines has been going sideways for 2-1/2 years, but now it may be getting ready for takeoff.
The first pattern on today’s chart is the series of higher lows over the past month as prices remained below November 11's closing price. The result was an ascending triangle that UAL escaped yesterday.
Next, Bollinger Band Width narrowed last week to its...
Enphase Energy has quietly emerged as a market leader in 2022. Is it now ready for a final run into yearend?
Notice how the solar-energy stock made a series of higher lows since mid-October. Prices remained below roughly $320, a previous closing high from September. The result was an ascending triangle, which ENPH escaped on Friday. That could signal a...
Marriott has gone essentially nowhere since the pandemic began almost three years ago. But now the hotel giant could be getting ready to move.
The first pattern on today’s chart is the tight consolidation over the past three weeks. Notice how MAR has stayed above its 200-day simple moving average (SMA). It’s a change from August and September, when prices were...
Schlumberger broke out to new multiyear highs last month, and now it’s pulled back.
The first pattern on today’s chart is the June peak of $49.83. Strong quarterly results drove the oilfield servicer through that level on October 21. Two retests occurred in November, but it held both times. Has old resistance become new support?
Next, SLB is currently trying to...
The S&P 500 slid on Monday, but the dip could fit into a bigger continuation pattern. If correct, it may interest the bulls.
Notice the series of higher lows since tame CPI numbers launched the index higher on November 10. Also consider how SPX made highs in the same area on November 15 and 22. The result could be an ascending triangle with upside breakout...
Financials like Citi have bounced sharply since mid-October. But now the move could be showing signs of fatigue.
The first pattern on today’s chart is the series of lower highs since November 11. Combined with the low around $47.40 on November 17, that could form a bearish descending triangle that prices are now threatening to break.
Next, consider the weekly...
Diabetes company DexCom has been fighting higher since June, and now it may be interesting to trend followers.
The first pattern on today’s chart is the pair of bullish gaps last month.
The initial rally came after the Centers for Medicare and Medicaid Services proposed expanding access to one of the company’s glucose-monitoring products. The second was...
