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...
Footwear company Skechers USA has emerged as an interesting growth stock over the last decade. Now it may be completing the final pullback in a six-year consolidation period.
First consider the longer-term weekly chart. Notice the 600+ percent rally between July 2013 and July 2015. SKX has essentially digested that move since.
However now it’s pulled back to...
Caterpillar was a top pick among investors for the rebound last year. But now the chart is showing several bearish patterns.
First is the string of lower highs over the last five weeks. CAT held support around $200 during that time, resulting in a potential descending triangle. Friday, interestingly, was the first close below $200 since February.
Second, the...
Ford Motor jumped to new six-year highs in June, driven by electric-car enthusiasm. Now after a long pullback, bulls may be taking the wheel again.
The first major chart pattern is the downward sloping trendline along the highs of June 4 and July 29. F challenged that line on Monday and Tuesday, then closed above it on Wednesday and Thursday.
This pattern may...
Ulta Beauty jumped to new highs last month. Now it may be sitting pretty after a gentle pullback.
Notice its runup into earnings after the bell on August 25. The beauty-products company didn’t disappoint because profit, revenue and guidance all surprised to the upside. However, the stock was ahead of itself and quickly got rejected above $410.
Now, three weeks...
Crude oil and natural gas are rallying this week as traders focus on tighter supplies and the potential for a winter demand spike. It may create an opportunity in the SPDR Energy Fund, which has been left for dead despite the move in physical products.
Notice the convergence between the rising 200-day simple moving average (SMA) and the declining 50-day SMA. This...
“What if they gave a war and nobody came?” was a popular saying with protestors in the 1960s. Something similar could be asked of Bitcoin today: “What if they gave a selloff and nobody came?”
Consider how BTCUSD knifed violently lower on September 7. Then consider the lack of follow-through on the daily chart, with prices quickly holding their lows from just...
Sports-betting stock DraftKings doubled between last November and March. Now after a long pullback and consolidation, prices are trying to climb again.
This chart shows how DKNG made a small jump following a strong quarterly report and guidance hike on August 6. It initially hit resistance at the 200-day simple moving average (SMA), but proceeded to break out...
General Electric rallied sharply between last October and March. But it’s failed to break out and could now be at risk of rolling over.
The first pattern on GE’s chart is the double-top around $115 in March and May.
Next, the industrial stock slipped under its 100-day simple moving average (SMA) in early July and has stayed this since. That line appears to be...
American Airlines has been trying to hold $20 for the last two months, but now it may be ready for a deeper breakdown.
Notice how AAL bounced firmly at that level in mid-April. It’s tried to get back above $20 in the past month, but without much success. That suggests old support has become new resistance.
Next you have the trio of lower highs on July 27, August...
