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...
Brazilian mining stock Vale has lost about one-third of its value since the spring, but now it could be showing signs of a potential turnaround.
The first pattern on today’s chart is the falling trendline along the highs of April and June. VALE broke that resistance early this month and bounced above it last week.
Second, you have a low in mid-July, a lower low...
Advanced Micro Devices has done more recently than just plunge to its lowest level in over two years. It’s also given some interesting lessons on candlestick patterns.
The heavily traded chip had a thick red bar on October 7 after preannouncing weak quarterly results. The next session saw prices inch lower but remain in a tight range. On October 11, AMD made a...
Walmart has squeezed into a tight range after a big drop in the spring. Now some traders may be looking for a potential breakout.
The main pattern on today’s chart is the falling trendline along the highs of April, August and September. WMT remained consistently below this resistance until yesterday.
Second is the $128 level, where prices bounced in late...
As most people probably realize, the S&P 500 had a dramatic reversal on Thursday. (The 5.6 percent range from low to high was the biggest since March 2020, according to TradeStation data.) Today we’ll consider some intermarket patterns on other charts.
First is the U.S. dollar index. The greenback’s relentless advance has plagued the bulls for most of 2022,...
Deere has been one of the better-performing members of the S&P 500 since the summer, but now it could be hitting resistance.
The main pattern on today’s chart is the falling parallel channel along the highs of April, August and October. The farm supplier probed that resistance on Friday before reversing along with the rest of the market. Could it now push lower...
Bank of America lost more than 40 percent of its value between February's high and this morning’s low. Is the megabank now showing signs of a bounce?
The first pattern on today’s chart is the early drop to $29.31. That was BAC’s lowest price since December 2020, but it lasted less than 30 minutes. Prices turned green by 10am ET and quickly surpassed the previous...
The S&P 500 and Nasdaq-100 have made new multiyear lows this week. That helps draw attention to the price action in today’s stock, which has been fighting higher all year: Archer Daniels Midland.
The grain processor bottomed in mid-July, followed by a higher low in late September. It also managed to hold its 200-day simple moving average (SMA). (Did you know only...
Airbnb has been trending lower since late 2021. Now, after a period of consolidation, some traders may expect the weakness to resume.
The main pattern on today’s chart is the 100-day simple moving average (SMA), which has been steadily falling all year. ABNB is back under this line after unsuccessfully trying to reclaim it in August, September and earlier this...
Software companies like Salesforce.com have struggled with rising interest rates and a strong U.S. dollar. Today we'll consider some potentially bearish patterns on the daily chart.
First is CRM's inability to reclaim the monthly lows of June and July last week. (Both were around $158.)
Second is the descending channel taking shape since the beginning of...
Micron Technology bounced along with the rest of the market over the last week. But now it may be showing signs of continuing lower.
The main pattern on today’s chart is the falling trendline along the highs of August and September. While MU has fought above this resistance, trendline breakouts have generally not worked in the current bearish market. Fundamentals...
