Ethereum has been pulling back since mid-November, potentially creating opportunities for traders.
The first pattern on today’s chart is the trendline starting on July 20 and running along the lows of late September. Notice how ETHUSD initially tested that line on Thursday and held it again this week.
Next is the price zone around $4,000. Aside from being a...
Expedia jumped on strong results two weeks ago. Now after a pullback, traders may take be taking a look.
The main pattern on the travel company’s chart is the bullish gap on November 5. Prices have retraced the move and are trying to bounce slightly above the low from that session. The current range is also near the September and October highs, so EXPE may be...
MGM Resorts recently hit a new 13-year high, and now it’s pulled back.
The main feature on today’s chart is the breakout above $45.10 in early October. It proceeded all the way past $50 (for the first time since 2008) before knifing back to retest the breakout level.
Next, the current price area is near the 50-day simple moving average (SMA).
Third, the recent...
Energy stocks have been consolidating as major companies report earnings. Now they could be back in focus with inflation still rising and the economy reopening.
The most important feature on the SPDR Energy ETF’s chart is price zone around $56. It was a crucial support area in January 2020 before XLE crashed to a generational low. It was also a peak in June, but...
Visa fell sharply on October 27 following a couple of negative headlines. Now after a bounce, it may be ready for further downside.
The main pattern on today’s chart is the price level around $220. It was a low in May and near the lows of September and mid-October. There’s now a chance of it becoming resistance.
Next, V has failed to hold its 200-day simple...
Recent sessions have seen fireworks in chip stocks like Advanced Micro Devices and Nvidia . The same cannot be said of Intel.
The semiconductor giant gapped lower on October 22 following weak revenue and guidance. It was the third straight bearish report this year.
INTC has snapped back from the drop but has now returned to potential resistance. After all,...
Marathon Petroleum has been quietly sitting below resistance, and now could be approaching a breakout.
The first important feature on the oil refiner’s chart is Thursday’s pullback to its 50-day simple moving average (SMA). Buyers immediately defended this level, which MPC battled for five weeks in August and September.
It’s also noteworthy that prices bounced...
The S&P 500 broke a 10-month uptrend about seven weeks ago. Now it may be trying to reclaim that line.
This chart updates some patterns from our September 24 idea . The rising wedge pattern was bearish at the time – not a surprise given fears about inflation, the delta variant and a tapering Fed. But those forces have played out and investors are more focused on...
Industrials have gone nowhere for months, but some chart patterns suggest that may change soon.
The SPDR Industrial ETF (XLI) touched a six-month low under $98 in early October before rallying back toward $106. The bounce also occurred at the 200-day simple moving average, a potential sign its longer-term uptrend remains in effect.
Next, XLI had a very quick...
AMC Entertainment had a dramatic short squeeze in May and June. Now it may be ready to move again following months of consolidation.
The price level around $35 is the first noteworthy pattern on the chart of the movie-theater operator. That was a peak in 2015 and 2016. Holding it now suggests old resistance has become new support.
Second, notice how that level...
Bitcoin has pulled back since hitting a new all-time high on October 20. The price action is starting to resemble another key moment in the cryptocurrency’s history about 11 months ago.
First consider the downward-sloping trendline that’s become resistance. Also notice how the 21-day exponential moving average (EMA) is pushing up from below.
Next is the...
It was the best of times and worst of times for two payment protocols.
First consider Ethereum. The Defi giant hit a new all-time high early this morning, some 43 hours after the Altair upgrade took effect. If all goes well, it will be a key incremental step toward Ethereum 2.0 – making the cryptocurrency a scalable solution for countless fintech problems around...
Ethereum has taken a hit in the last 24 hours on worries about retail interest in cryptos. It may be creating an opportunity as the Altair upgrade takes effect.
The main item on today’s chart is the support line around $4,000. This is not only a “nice round number.” It’s also near the early-September peak before cryptos retraced some of their August rally.
The...
The VanEck Gold Miners ETF has had a countertrend rally this month, rebounding from a 17-month low. But now could be the time sellers return.
The first pattern on today’s chart is the $33.25 price zone. GDX bounced at this level in November and July. It marked the high in early September and seems to be resistance again this week.
Next, stochastic has been in an...
The Russell 2000 has been snoozing for most of the year, following a sharp rally last winter. Now traders may want to watch for signs it could be waking up.
The main feature on this chart is the series of higher lows since August, while the top of the range has remained around 2310. That’s starting to resemble a bullish ascending triangle. It’s also noteworthy...
Seagate Technology has spent the last five months pulling back. But now it may be turning around.
The main pattern on today’s chart is the descending trendline that started in May and ran along the peaks of August and September. Notice how STX closed above that line on Friday.
Next, the jump followed two weeks of consolidation along the 200-day simple moving...
Monday.com went public on June 9 and nearly tripled from its offering price by early September. Now after a pause and consolidation, it may be offering an opportunity to trend followers.
The main pattern on the chart is the steady march higher along the rising 50-day simple moving average (SMA). This move also matches a trend line that started in early August....
High and tight: That’s the pattern in fertilizer stock CF Industries.
Notice the sharp rally from the 200-day simple moving average (SMA) since the middle of September. It planted CF above the $56 level where the stock previously peaked in October 2018 and May-June 2021.
Interestingly, CF tried to test back toward that level on Monday but immediately found...
