An under-the-radar trend in recent weeks has been strength in legacy retailers like Macy’s , Gap and Ross Stores. Today’s chart focuses on a potentially bullish pattern in peer Ralph Lauren.
Notice the series of higher lows since November 10, when earnings and revenue beat estimates. There’s also a resistance zone around $104.50. The result is an ascending...
H&R Block started rallying in May. Now, after three months of consolidation, it may be starting to move again.
The first pattern on today’s chart is the price level at $37.53. It was a previous high from November 2015 where HRB bounced in October and earlier this month. Has old resistance become new support?
Next is the falling trendline along the highs of...
An important level has emerged on the S&P 500 in the second half of 2022. Yesterday it held as support, which may be an important signal for traders into yearend.
The index has chopped on either side of approximately 3910 since early July. Initially resistance, the price area served as a springboard for August’s sharp rally. It then briefly provided support in...
It’s often interesting to find stocks making new highs when the market tanks. Today’s chart focuses on such a name: Harmonic.
Notice how the provider of video software advanced in late September and early October as the S&P 500 and Nasdaq-100 hit new 52-week lows.
That relative strength followed an Analyst Day on September 15. Heavy volume occurred as prices...
Metal stocks have fought higher all quarter, and now a key steelmaker may be attempting a breakout: Nucor.
The first pattern on today’s chart is the series of higher lows since late last month. NUE was stuck below $137 (the close of on October 26) for several weeks, which produced an ascending triangle. But prices broke out on November 10.
Second is the summer...
The third quarter wasn’t great for earnings overall, but some companies managed to impress. One of them was McDonald’s.
The main pattern on today’s chart is the breakout to new record highs after the fast-food giant beat forecasts on profit, revenue and comparable sales.
Next is the consolidation pattern preceding the rally. MCD spent most of 2022 trapped below...
Risk on or risk off? Those kind of sentiment changes are one of the most important things for traders in the stock market. Today gave an example of how quickly the herd can sometimes pivot.
Tesla, a classic “risk on” name recently struggled near 52-week lows, while “safe-haven” Eli Lilly pushed to new record highs. But Thursday’s rally on softer inflation...
Yesterday’s CPI report was a reminder that, despite how it feels, the inflation crisis might not last forever. This raises the question of how to think about the Federal Reserve, and makes us look back to previous moments in history.
The most relevant precedent could be 1994 and early 1995, when policymakers doubled their target rate from 3 percent to 6 percent....
Today’s cooler readings on inflation and jobless claims were welcome news for stock-market bulls. They could be even more important for the Treasury market.
Today we’re considering the yields of the of two-year (US02Y) and 10-year (TNX) notes.
The two-year shot to a 16-year high above 4.8 percent on November 4 after non-farm payrolls but failed to hold: a...
Lithium producers have outperformed this year thanks to the widening use of electric vehicles. With the metal’s price continuing to advance, today’s charts highlight several names in the group. We’ll start with Sociedad Quimica y Minera.
The Chilean stock has consolidated since the spring while making incrementally higher lows. A falling trendline formed along...
Energy remains the top-performing sector this year. Today we’re focusing a member of the group with potentially classic breakout behavior: Hess.
The first pattern on the oil and gas stock’s chart is the is the October 26 surge above $137. That was the previous all-time high from 2008. A move through that level suggests old resistance has lost its...
Nvidia has clawed higher in the last three weeks, but some chart patterns may suggest its downtrend remains in effect.
First you have the falling line along the highs of March and August. NVDA has recently struggled at that line, which could mean it’s still resistance.
Second, prices have fought the July low of $140.55 without breaking through. That suggests old...
Ford Motor bounced sharply in October, but now it may be showing signs of fatigue.
The first pattern on today’s chart is the falling 50-day simple moving average (SMA). The automaker tested this line in each of the last three sessions without breaking it. That may suggest its downward trend remains in effect.
Next, consider how F briefly made a six-week high on...
One of the remarkable things about the current economy is the resilience of the labor market. Today’s chart focuses on a key name in that field: payroll giant Automatic Data Processing.
Consider how ADP troughed below $195 in January and February. Its next low in June was slightly above that level. Then on October 13 as the broader market tanked, this stock...
Applied Materials has recently bounced along with other technology stocks. But some trend followers may look for it to roll over.
The first pattern on today’s chart is the line running along the highs of January and August. The chip-equipment stock is approaching that potential resistance area. Will it roll over again?
The most recent price action may have...
Most traders know big technology stocks have struggled over the past year. But how significant is the weakness? Today we’ll consider the question with the help of some longer-term moves and comparisons involving the Nasdaq-100.
There are two patterns on the weekly chart above. First, the tech-heavy index’s low this month was 38 percent below its all-time high. It...
The market’s recent bounce has lifted some technology stocks mired in downtrends. One example is Adobe.
The software company plunged on September 15 after a double dose of unwelcome news. ADBE not only missed revenue estimates. It also announced the $20 billion takeover of Figma in a deal Wall Street considered too rich.
The stock soon found itself under $280...
American Airlines has struggled for years. Could it now regain lost altitude?
The first pattern on today’s chart is the falling trend line along the highs of May, August and September. The carrier pushed through that resistance last week and has now bounced at it. Has the line become support?
Next is the recent low around $12. This closely matches the 78.6...
