At times of broad market weakness like the present, it can be interesting to find stocks unscathed by the selling. Dollar Tree appears to be in that camp.
The discount retailer has remained above its 100-day simple moving average (SMA) during the entire downturn of 2022. This stands in sharp contrast with the S&P 500, Nasdaq-100 and Dow Jones Industrial Average,...
Walt Disney has been under pressure for the last year. But now it may have formed a bullish reversal pattern.
DIS dove toward $129.30 on January 24 during the S&P 500’s initial swoon this year. It retested and held that level on Tuesday, resulting in a potential double-bottom pattern.
Next, the pullback represents a retracement of the entire rally that occurred...
Most semiconductors have lagged recently as technology stocks and the broader Nasdaq-100 struggle. That makes the price action in Broadcom especially interesting.
Notice how AVGO is holding its 100-day simple moving average (SMA). In contrast, the Philadelphia Semiconductor index is mired below its 200-day SMA. (See below.)
Second, Bollinger Band Width has...
Bitcoin has been under pressure since early November, but now the top cryptocurrency may be showing signs of turning higher.
The first pattern on this chart is the 50-day simple moving average (SMA) with our Moving Average Speed custom script . This indicator shows the SMA’s rate of change. It helped flag bullish turns in July and October of 2020, plus July and...
General Electric staggered throughout the course of 2021, and now the bulls may be jumping ship.
The main pattern on today’s chart is the close under $88. The industrial stock bounced around that level in December, January and February. Has it finally lost relevance as support?
Next, consider the lower high last month versus January. That kind of descending...
CME Group could be attempting a breakout as the broader market struggles.
Notice how the exchange operator snuck above $231 a month ago, overcoming resistance from early November.
Second, CME pulled back and held the level on February 24 (after Russia invaded Ukraine). The 50-day simple moving average (SMA) was also coming up from below. Prices followed by...
Harley-Davidson has struggled for years, but now the motorcycle maker could be getting back in gear.
The main pattern on today’s chart is the bullish gap following a strong quarterly report on February 8. Consider how HOG has traded since the move: Not only did buyers quickly defend a retest lower last week. They’ve also kept prices above the 200-day simple...
Tyson Foods has been riding strong results higher since the summer. Now it may be swinging back to the upside.
The first pattern on today’s chart is the bullish earnings gap on February 7. TSN briefly flirted with triple digits after the report, then pulled back to retrace the entire move.
Second, consider price action at the bottom of the dip last week: a drop...
A few weeks ago, we discussed the emerging breakout in gold . Now’s a good time to look at its fast-moving cousin: silver.
This weekly chart shows XAGUSD’s consolidation pattern above roughly $21.36 since late 2020. That’s a potentially important level because it was a high at various times for more than a decade.
Next is the downward-sloping trendline that...
Something interesting happened with the Dow Jones Transportation Average recently. Or, more precisely, didn’t happen. The S&P 500, Nasdaq-100 and Dow Jones Industrial Average all breached their October lows amid this year’s pullbacks. But Transports haven’t even come close to those levels.
Notice how DJT bottomed last week over 14,000. That was 1 percent above...
Macy’s rallied in late 2021. Now it may be holding support after a pullback.
The first pattern on today’s chart is the 200-day simple moving average (SMA). Notice how the department-store operator touched the line this week for the first time since November 2020.
Second, prices have formed a parallel channel this year. The pattern has a slight downward...
Snap had a sharp rally on February 4 after quarterly results beat estimates. But now its longer-term downtrend may be reasserting itself.
The first pattern on today’s chart is the stochastic oscillator. It’s swinging back to the downside after jumping into overbought territory.
Next, price tested but was unable to break above the 50-day simple moving average...
Boeing has drifted lower for nearly a year, and prices may be in a channel that could interest traders.
First notice the highs of June, November, January and this month. Then consider the lows of July, November and December. BA has trended within those lines, which could make some traders expect a retest toward the lows.
Next, the 200-day simple moving average...
Western Digital has skidded lower for months, but now the data-storage company seems to be fighting the bears.
The main pattern on today’s chart is the double-bottom around $49.50. Sellers hammered WDC down to that level following the last two quarterly reports, and both times they quickly retreated. That area was also a high in June 2020 and a low in December...
Costco ran to new highs in late December, but this year it’s been under pressure.
The warehouse retailer slid 11 percent in January – its sharpest monthly drop since December 2018. It then retraced about half the decline to make a lower high last week. Notice how the high not only consisted of an abandoned shooting-star candlestick. It also occurred at the 50-day...
Caterpillar was one of the first big cyclicals to rally back from 2020’s crash. But it’s been showing signs of fatigue more recently.
The first pattern on today’s chart is the lower high versus June. The broader S&P 500 and Dow Jones Industrial Average made new highs in early January, but CAT has gone more than six months without the same feat.
Second is the...
Last week, we cited the potential breakout in the SPDR Gold ETF. Today’s chart shows a similar pattern in miner Barrick Gold.
First, consider the series of lower highs since August 2020. Then notice how the price action Friday and today violated this downward trajectory.
Second is the rounded bottom around $18, which took shape in the fourth quarter. This...
The SPDR Gold Trust ETF has squeezed into a tight range since rallying in mid-2020, and now it may be attempting a breakout.
The main pattern on today’s chart is the pair of converging trendlines running along the highs and lows. GLD made a higher high today for the first time in over a year.
Second, notice how the 200-day simple moving (SMA) turned higher in...
