Caterpillar began the year with a strong rally before entering an extended pause. But now some traders may think the Dow Jones Industrial Average member is ready to start moving again.
The first pattern on today’s chart is the low in June, the lower low in August and this month’s higher low. That’s a potential high basing pattern that may suggest new support has...
Uber Technologies has drifted sideways for most of the year, but some traders may think it’s getting ready to move.
The first pattern on today’s chart is the previous all-time high of $64.05 from 2021. UBER bounced at this level in June and is trying to stabilize slightly above it this month. That may suggest that support has developed above old...
Tapestry had a big rally in the first quarter and has been consolidating since. Now some traders may see potential for a move to the upside.
The first pattern on today’s chart is the January low of $35.26. The retailer tested and held that level in early August, which may suggest that support is in place.
Next, a trio of bullish candles after the most recent...
Chip stocks have been climbing since early last year. Now, after a healthy pullback, some traders may look for the longer-term uptrend to continue.
The first pattern on today’s chart of the Philadelphia Semiconductor Index is the rising 200-day simple moving average (SMA). SOX bounced at this SMA in late 2023 and again last month. The most recent price action...
Marvell Technology surged on strong results last month. Now some traders may think the chip stock will continue higher.
The first pattern on today’s chart is the bullish gap on August 30 after the quarterly numbers. That may reflect positive sentiment in the name -- especially given its potential datacenter AI exposure.
Second is the series of lower highs since...
Cisco Systems rallied on strong results last month. Now, after a pullback, some buyers may see a potential opportunity.
The first pattern on today’s chart is the bullish gap after earnings and revenue beat estimates. (Management also announced plans to cut the workforce by 7 percent.)
Next, $48.16 was the low from that session. Notice how CSCO pulled back to...
Homebuilders like Lennar have been climbing as the broader market struggles. Could traders look for more gains as the Federal Reserve prepares interest-rate cuts?
The first pattern on today’s chart is the rally to new highs in July, followed by a limited pullback and upside continuation in August. Such price action may reflect accumulation by longer-term...
Energy is the worst-performing sector so far this year, and some bearish signs may be appearing in Exxon Mobil.
The first pattern on today’s chart is the series of higher lows since mid-June. Most of them were followed by higher highs, but a lower high occurred in late August. A lower low followed this week. Is a breakdown starting?
Second, prices have slipped...
Dell Technologies fell sharply in late May, and some traders may see further downside risk.
The first pattern on today’s chart is the selloff between mid-July and early August. DELL has been unable to climb past a 50 percent retracement of that move, which may suggest its direction is lower.
That level around $113-114 is also near the 200-day simple moving...
Freeport-McMoRan has struggled since the spring and some traders may see risk of further declines.
The first pattern on today’s chart is the series of higher highs and higher lows since early August. The copper miner fell through the bottom of that channel on Tuesday, creating a potential bear-flag breakdown.
Second is the zone around $43.30. It was a high in...
Energy stocks continue to lag as the market anticipates greater supply and weaker demand from China. The backdrop may be creating downside risk in Halliburton, a key provider of oilfield services.
The first pattern on today’s chart is the January low just below $33. Prices bounced there in June and July. They slid below in August, which may be viewed as a...
Netflix recovered quickly from its August lows, and now some traders may see potential for a rally to new highs.
The first pattern on today’s chart is the July 17 peak of $678.97. Notice how the streaming-video stock crossed and held that level last week. Has old resistance become new support?
Second, the July 17 candle followed a mixed quarterly report. The...
Amazon.com has rebounded from a drop, but some traders may think the e-commerce giant will give back some of its recent gains.
The first pattern on today’s chart is the $181.87 level. It was the low immediately before earnings came out and represented the approximate high last week. Has old support become new resistance?
Second, Wall Street wasn’t thrilled with...
The SPDR Select Sector Materials ETF has been moving sideways for months, but some traders may see potential for a breakout.
The first pattern on today’s weekly chart is the price zone around $88. XLB bounced there several times, leaving a rounded basing pattern (a low, a lower low and a higher low). Also notice how the bottom of its range was slightly above the...
Tesla has been climbing recently, but some traders may see a bigger downtrend.
The first pattern on today’s chart is the series of higher lows since August 5. The EV maker fell yesterday to close at its lowest level in over a week. That may be viewed as a breakdown from a bearish flag.
Second, Tuesday’s high occurred near a 50 percent retracement of the move...
The Russell 2000 remains well below its record highs from 2021 – unlike other big benchmarks. But some traders may think the small-cap index can play catch-up.
The first pattern on today’s chart is the falling trendline along the peaks of May and June. RUT broke it in mid-July and retested it a few weeks later. Has old resistance become new support?
Second,...
Amgen has been fighting higher this year, and some traders may think a longer-term uptrend is in place.
The first pattern on today’s chart is the move under $310 after mixed quarterly results. The drugmaker quickly recovered as Wall Street focused on its pipeline. The resulting drop and rebound could be viewed as a “false breakdown,” which is potentially...
Expedia has gone nowhere for most of the year, but some traders may think the travel stock has begun a northward journey.
The first pattern on today’s chart is the bullish price gap on August 9 after earnings and revenue beat estimates. EXPE has made successively higher lows every session since then, which may indicate that buyers are in control.
Second, prices...
