Amazon.com has consolidated since last August. Now it may be ready for a breakout, especially with the Nasdaq leading again.
Friday’s close of $3,510.98 was AMZN’s second-highest close ever. It was also the highest close since September 2, a potential sign of investors accepting prices above $3,500.
Next, consider that last peak 10 months ago. It marked a...
Cisco Systems had a big surge in March, followed by two months of upward sloping consolidation. Now the chart may be signaling another leg to the upside.
First, prices have held the 50-day simple moving average (SMA) and are bouncing. That suggests the uptrend is intact.
Second, notice the sharp drop on June 18 followed by a quick rebound. That resulted in a...
Homebuilders have pulled back following a big rally. Now the chart could be lining up for another move to the upside.
The Philadelphia Housing Index has been finding support at its 100-day simple moving average for the last two weeks. It’s also been holding a price zone around 460. That’s potentially significant because it was a peak on March 17 and then a...
Like many small growth stocks, Zillow pulled back hard between mid-February and mid-May. And like many small growth stocks, it’s now showing signs of returning to life.
Notice ZG’s basing pattern above $105 in the last two months. This is a sign of stability as selling pressure abates and buyers get comfortable with triple digits.
Next are the closes above the...
One by one, tech stocks have battled off their lows as investors return to growth names. It’s happened in Tesla, DoorDash, Roku and Advanced Micro Devices. Now Uber Technologies may be joining the club.
The ride-sharing giant is doing all kinds of interesting things with its moving averages. First, it’s been holding support along its rising 200-day simple moving...
The Ethereum baby has gotten thrown out with the Bitcoin bathwater. But now all sorts of interesting things could be happening with the No. 2 cryptocurrency.
The first big technical event is price bouncing at the 200-day simple moving average (SMA). BTC has been mired below this average since May 19, while ETH has seldom closed below it.
Next are the quick...
A month ago, we cited the downward-sloping channel in bond yields. Now it could be time for a move in the opposite direction, to the upside.
This weekly chart shows how 10-year Treasury yields held 1.44 percent in the week begun June 14. That was almost identical to the low in early September 2019. Yields bottomed 10-15 basis points lower July 2012 and July...
The iShares China Large-Cap ETF had a big run last year, then pulled back and consolidated for 3-4 months. Now it’s showing signs of coming back to life.
Notice how FXI held roughly $45 after forming a kicker candlestick on June 16-17. Looking back to the other lows of May 13 and March 25, we discover an inverted head and shoulders pattern.
Next, FXI squeezed...
Dick’s Sporting Goods has been running. Now, after a brief pause, it may be ready to keep moving.
The first interesting pattern on the daily chart is the price gap on May 26, which DKS recently tested (and partially filled). That resulted from a blowout quarterly report, with same-store sales up 115 percent.
Notice how price came down to test and hold the May 10...
Align Technology has trended steadily higher for years. Now, it may be poised for a continuation to the upside after 4-1/2 months of consolidation.
The main pattern on ALGN’s chart is the ascending triangle with a top around $610. A breakout through that resistance zone could bring fence-sitters off the sidelines.
Second, notice the bullish price action around...
Tesla has been languishing for most of 2021, but now there are some positives for the bulls.
Perhaps most important: The 8-day exponential moving average (EMA) closed above the 21-day EMA on Monday for the first time since April 30. The widely followed short-term trend signal is now potentially bullish.
Second, an ascending triangle has formed since May 19. The...
Illumina had some surprisingly bullish price action earlier in the year. Now, after some consolidation, the bulls may be coming back.
The main feature on ILMN’s chart is the tight ascending triangle with a top around $457.50, which the stock is breaking today.
Next is the MACD cross on the weekly chart. This is potentially important because ILMN was...
Snap is an expensive growth stock. It’s the kind of name investors have mostly avoided this year, although recent weeks have seen a shift back to such companies.
This chart highlights SNAP’s last four months of consolidation. It isn’t exactly a cup and handle, but there are important similarities: It’s a high basing pattern well above old highs. There’s no single...
Kohl’s is the kind of stock that did great doing the value / reopening trend between November and April. But now it’s stalling and may be ready for a pullback.
The first major pattern on the chart is the bearish gap on May 20. It not only planted the stock firmly below the 50-day simple moving average (SMA). It also followed strong quarterly results, which...
Energy has been the dominant sector this year, but it remains one of the worst performers over the long run. Now could be a time for the bears to make a stand.
This weekly chart of the SPDR Energy ETF highlights the $56 level:
Notice how it was a low in late 2018 and near the low in early 2016. Also notice the price consolidation in that zone immediately...
Caterpillar was one of the favorite value / cyclical plays coming out of 2020’s mini-depression. Now, the Dow Jones Industrial Average member just had its biggest pullback in a long time.
This chart highlights the deeply oversold condition on stochastics, which fell on Monday to their lowest level in over a year. CAT also just had its worst week (-9.6%) since...
Mastercard has been lulling into a triangle, but now the credit-card stock could be getting ready to charge higher.
Consider how Bollinger Bands Width has narrowed to its tightest range since November 2017. Also notice the bullish inside candle on the weekly chart. Both of those, combined with the triangle drawn above, highlight the volatility squeeze now taking...
Value stocks and reopening plays have been the main themes in 2021, but now the bulls seem to be returning to Big Tech and the Nasdaq-100.
The yellow histogram on this chart compares the 21-day return of NDX against the S&P 500. (It uses our Smart Relative Strength custom script.) Notice how Monday’s reading was the highest since August 27. That was immediately...
