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...
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,...
