The last year for Chinese technology stocks has been nothing short of a nightmare. But now there could be signs of a turn in the KraneShares CSI China Internet ETF, which holds key names like Tencent and Alibaba.
The 8-day exponential moving average (EMA) was under the 50-day simple moving average (SMA) since March. But last week, that faster-moving line rose...
Financials have been coming to life recently, and soon it could be Discover Financial’s turn.
The credit-card issuer has squeezed into a tight range since late summer. The result was an inside week (begun October 4) and then an outside week (begun October 11). That may suggest it’s starting to break out.
Next, you have the downward sloping trend that began on...
Bank of America is jumping to new 14-year highs after a strong quarterly report. This raises an important question: Will the megabank now return to its previous all-time highs from before the subprime crisis?
BAC peaked at $55.08 in November 2006. It inched lower over most of the following year, before the selling cascade hit. Prices hit a nadir of $2.53 in...
Dell Technologies flew to new highs between late 2020 and early 2021. Now after a long period of consolidation, the PC maker may be squeezing toward a breakout.
The main feature on this chart is the high basing pattern between April and September. Notice how DELL held $94 in May, tested $90.50 in July and held $94 again last month. The result is an inverse...
DoorDash has fought its way higher since the spring on signs of widening adoption. Now the delivery company may be presenting an opportunity after a pullback.
Two important things appear on the chart this week. First, DASH tested and held the $195.45 area. That was the high on August 13, a high-volume bullish outside candle.
Monday's dip resulted in a close...
Goldman Sachs hit a new high late in the summer. Now after a healthy pullback, it may be ready to keep moving.
The first pattern on today’s chart is the falling trendline that began on August 30. GS tried to break that resistance twice last month. It was rejected both times with large bearish engulfing candles. But on Thursday it touched the line and managed to...
Semiconductor stocks have struggled along with the broader market, but a few have managed to outperform. One of them is Broadcom.
The most interesting feature on AVGO’s chart is the series of higher lows, including Monday’s dip under $475. In contrast, the Nasdaq-100 made a lower low versus August.
Next, the bounce is occurring at the 100-day simple moving...
The SPDR Financial ETF broke out to record highs in February, stalled in June and has been resting since. Now it may be getting ready for another move.
The first pattern on this chart is the 50-day simple moving average (SMA). After dancing around this line for almost four months, XLF has managed to hold above it since the end of September. That’s especially...
The Nasdaq-100 just finished its worst month since March 2020. But one key member is standing out: Tesla.
Here’s an interesting factoid from TradeStation’s data farm: Only 15 NDX members closed above their 50-day simple moving averages (SMA) yesterday – the fewest since April 3. Nine of the top 10 companies by market cap were below that line, including Apple,...
Emerging markets have mostly struggled lately as the U.S. dollar climbed. That may have created an opportunity in Brazilian energy driller Petrobras.
Unlike other oil giants like Exxon Mobil and Chevron , PBR has barely moved in the last month as crude oil jumped. However, it closed above its 50-day simple moving average (SMA) on Friday and is continuing to...
The S&P 500 declined for pretty much all of September. But now it’s kicking off October with some potentially bullish activity.
The first pattern on the chart is the false breakdown under the September 20 low of 4306. SPX spent about an hour below that level this morning before the bears cried uncle and prices reversed higher.
Next, relative strength in the...
Reopening stocks like cruise lines have fought higher in the last month. Now Carnival has pulled back, giving a potential opportunity for buyers to get on board.
The main pattern on this chart is the series of higher lows since mid-July, followed by a breakout above $24.50 last week. The level is near the high in December and the low in March and May. It may now...
The Russell 2000 had a sharp rally in late 2020 and early 2021. Now it may be setting up for a similar move.
Notice the triangle forming on the small cap index recently, which is interesting for two reasons.
First, it shows that prices are squeezing into a range. Ranges can be followed by breakouts.
Second, it shows that RUT made a higher low in September...
EBay surged to new highs in mid-August, fueled by optimism about a business turnaround. Now after a pullback, it could be on the verge of a breakout.
Two significant patterns appear on the e-commerce stock’s chart. First, the descending trendline starting on August 30. EBAY tested that resistance the last two weeks and is now challenging it again.
Next you...
McDonald’s has been inert for most of 2021, but now it's showing signs of a breakout.
First, MCD established a new closing high on Friday. Aside from Salesforce.com , it was the only member of the Dow Jones Industrial Average to achieve that feat.
It also happened despite making a lower low on Monday. Buyers quickly materialized to defend the burger giant,...
The S&P 500 has enjoyed a healthy bounce in recent sessions, but it may not be smooth sailing from here.
The first important pattern on this daily chart is the breakdown from the rising wedge. At earlier moments, prices bounced sharply at the lower trendline. This month, however, they sat heavily at support before knifing through. That suggests the trendline is...
Advanced Micro Devices rallied hard on strong results in late July. Now almost two months later, the chip stock may be ready for another move.
Notice the slow and lazy pullback since early August, which resolved with a quick test under $100 on Monday. AMD came within $0.28 of its previous peak from January 11. That might be close enough to say old resistance is...
Global stocks have lagged recently because of weakness in China, but a handful of countries are still advancing. One of them is Russia.
The VanEck Russia ETF rallied about 50 percent between November and June. It’s consolidated since then, while making a series of higher lows. The most recent low around $29 was noteworthy because it was near previous highs from...
