Equity-market sentiment has tilted heavily toward the bears recently as investors brace for more rate hikes. But there could be signs of nearing a bottom.
The first pattern on today’s chart of the S&P 500 is the 3910 price level . It’s near the peak on July 8 and the low on July 26 – immediately before the index accelerated toward 4300.
The current pullback is...
Alternate energy has shown relative strength since the Inflation Reduction Act took effect in August. Lithium provider Albemarle is a potential beneficiary.
The first pattern on today’s chart is the trendline running along the highs of November and June. ALB ripped through that line three weeks ago before pulling back. It’s now attempting to bounce at the same...
Boeing rallied in July, but now it could be losing altitude.
The main pattern on today’s chart is the trendline running along the highs of mid-January and mid-February. The latest rebound saw prices revisit -- but not break -- this line.
Second is the April 11 low of $173.40. BA tested that level in mid-August before rolling over. Has old support become new...
EQT is a natural-gas fracking company that’s benefited from Europe’s energy crisis. It may also be attempting a breakout.
The main pattern on today’s chart is the low near $31 in early July and the higher low above $40 one month later. The combination could be a cup & handle, a potentially bullish continuation pattern based on the previous uptrend.
Next, the...
Oilfield-services provider Schlumberger has been grinding higher for weeks. Now amid a brief pullback, it could soon offer buyers a potential opportunity.
The first pattern on today’s chart is the series of higher lows since mid-July. SLB hit resistance several times around $37.20 before breaking out on August 23. Traders may look for support to form near the top...
Advanced Micro Devices has bounced sharply from its early-July lows, but some patterns could be pointing lower for the chip stock.
The first pattern on today’s chart is the descending parallel channel that’s been in effect most of the year. AMD’s latest highs represented a failure at the top of the channel, which could make some traders think prices will revisit...
Home Depot rallied after a strong earnings report last week, and now has pulled back.
The main pattern on today’s chart is the high-volume bullish candle following quarterly results on August 16. The home-improvement chain jumped to its highest level in almost five months, only to stall and drop for five straight days. It then tested a weekly low above $303...
Amazon.com jumped last month. Now after a pullback, some traders may return to the e-commerce giant.
The first pattern on today’s chart is the price gap on July 29 after revenue beat estimates. AMZN continued higher through mid-August but has now eased back to its price area on the high-volume bullish day.
The level in question is also near the split adjusted...
Ethereum’s key upgrade to proof of stake is slated for next month. It’s a good time to review the No. 2 cryptocurrency’s technicals.
The first pattern on today’s chart is the sharp pullback from above $1,900 toward the $1,600 area. This brought price back to the 50-day simple moving average (SMA). Some investors could view this as a positive sign.
Second, the...
Alibaba has been sliding for more than a year, and trend followers may see reasons to expect more downside.
The main pattern on this daily chart of the Chinese e-commerce giant is the series of lower highs since July 8. BABA has managed to hold support around $88 this month. The result could be a descending triangle, a potential sign of bearish...
The stock market has bounced sharply in the past month, but Meta Platforms hasn’t followed.
The main pattern on today’s chart is the steady succession of lower highs. While the Nasdaq-100 behaved similarly in April, May and early June, the index broke its downtrend by making higher highs in the last two months.
META, in contrast, hit $183.10 before rolling over...
Tesla rallied more than 50 percent from its lows of the year through earlier this week. But now it may be running out of juice.
The main pattern on today’s chart is the price area around $939. It was the opening price on May 5 before TSLA knifed under its 200-day simple moving average (SMA) and proceeded toward $600. Price touched that level on August 4 without...
Health Care stocks have moved sideways for more than a year, but now they could be showing signs of life.
The first pattern on this daily chart of the Health Care Select Sector Index (SIXV) is the 1264 level. It was near the highs of May and early-June 2021. Prices bounced there several times between October 2021 and May 2022 before knifing below in June (along...
Monster Beverage rallied steadily between March and July. It then fell sharply, which may create opportunities for dip buyers.
The first pattern on today’s chart is the pullback to the 200-day simply moving average (SMA) on August 9. Notice how buyers defended the level, creating a potentially bullish hammer candlestick.
This could be noteworthy because it was...
Does anyone remember Netflix? After losing three-quarters of its value between November and May, the streaming-video stock may be trying to claw its way back.
The first pattern on today’s chart is the bearish price gap on April 20 after the business unexpectedly lost subscribers. NFLX drifted for months after the selloff but is now inching back toward that area....
Solar stocks have outperformed lately as investors react to high oil prices and the green-energy movement. Today we’re looking at SolarEdge Technologies , the No. 2 company in the group by market cap behind Enphase Energy .
The main pattern on the chart is the falling trendline that began in November and ran along the highs of April and most of July. SEDG...
Sociedad Quimica y Minera is a Chilean fertilizer company reinventing itself as a lithium provider. Today we’re looking at some potentially bullish patterns as it squeezes back toward triple digits.
First are the pair of strong earnings reports on March 2 and May 19. The initial headline lifted SQM above its previous all-time high from July 2011. The second one...
The Philadelphia Semiconductor Index ripped about 29 percent between early July and early August, but now it may be showing signs of fatigue.
The first pattern on this chart is last Thursday’s peak of 3087 -- slightly below the early June high of 3159. That lower high is potentially noteworthy when compared with the broader Nasdaq-100, which pushed above the...
