Silver began a monster rally about a year ago. Now the technicals could be lining up similarly.
First, consider how XAGUSD dumped after hitting resistance at its 50-day simple moving average (SMA) in late March. Prices quickly stabilized and then entered a period of sideways consolidation. They soon pushed above the 50-day SMA and started moving higher again....
3D Systems was a popular trading vehicle 7-10 years ago. It then slipped into a long decline -- before jolting back to life in January.
Now it’s pulled back and consolidated after that dramatic surge. A few chart patterns in particular stand out.
First, DDD is bouncing near its 200-day simple moving average (SMA). That’s a potential sign of the longer-term...
The euro has paused this year after a big surge in 2020, but now it may be getting ready for another move.
Notice the downward-sloping trendline along EURUSD’s highs in early January and late February. The currency pair broke above that resistance last week and is now trying to turn it into support. MACD has also been trending higher for the past month. ...
Credit-card giant Visa is an interesting stock. Officially, it’s a member of Technology. But it’s also cyclical because of its obvious connection to spending and the financial sector.
Not surprisingly, V broke out to new highs in late April as the economy moved closer to reopening. Quarterly results beat consensus and business trends for the current period were...
Technology and the Nasdaq have gone through a rough spot lately because of inflation. That may be creating an opportunity in social-media giant Facebook.
FB is one of the few major Nasdaq stocks to hit new highs recently. Now it’s pulled back and retraced nearly six weeks of gains.
The main chart feature is the “nice round number” of $300. In addition to its...
One of the biggest events in the history of the Dow Jones Industrial Average happened last August when Salesforce.com replaced Exxon Mobil as an index member. A 21-year software company elbowed out a transnational giant tracing its origins to John D. Rockefeller and the dawn of modern capitalism.
Despite the stunning endorsement, things haven’t worked out so well...
Believe it or not, Bitcoin has barely moved in 11+ weeks. However, prices may be getting ready to move again.
The first pattern on the chart is the tight ascending triangle with its top around $59,000. Are traders be watching for a breakout through the psychologically important $60,000 level?
Next, consider the failed breakdown in late April. BTCUSD attempted to...
The Australian dollar has squeezed into an increasingly tight range all year. Futures traders may want to be ready in case a breakout occurs.
First, Bollinger Bandwidth is near long-term lows on both the daily and weekly charts. This isn’t necessarily bullish, however it’s interesting when you consider other positive forces at work. One of those items is the...
Netflix was obviously a big beneficiary of last year’s pandemic. It was one of the first to break out (mid-April) and one of the first to peak (early July). Now it may be at risk of breaking down and having a deeper pullback.
The first and most important thing on this chart is the bearish gap after the last earnings report. Profit and revenue beat as management...
Caterpillar was the best performing member of the Dow Jones Industrial Average in the last year with a gain of more than 115 percent. It’s paused since mid-February and now the chart is showing renewed signs of life.
First and foremost is the 50-day simple moving average (SMA). CAT bounced at that line several times, including late October and mid-January. The...
Energy is coming to life again as the economy reopens. Let’s take a look at oil-field service provider Halliburton, which has a few interesting chart patterns.
First is the downward-sloping trendline running along the highs of March and April. HAL closed above that resistance yesterday for the first time.
Second notice the tight range on the weekly chart, with a...
The S&P 500 just finished its third straight winning month. Now there could be signs of weakening as May begins.
First, let’s revisit the price channel running along the index all year. SPX has been stuck at the top of that ascending range since the middle of April. Will prices retreat from the upper line?
Second, last Thursday saw a new all-time high and a...
JPMorgan Chase has snoozed since its big November-February rally. But now it may be getting ready to move again.
The first pattern on the chart is the downward trendline running along the highs of March 18 and April 12. It’s breaking that resistance today.
Next are the series of candlesticks last week. Notice how prices tried to close at the low but each day...
Tesla hasn’t hit a new 52-week high since January 25. It bounced feebly this month, and now the price action is looking more problematic.
First, notice how the April 14 high closely matched the January 29 low. Old support could be new resistance.
Second, TSLA has made lower highs since while holding roughly $700. That now resembles a bearish descending triangle,...
Micron Technology has stalled after a big rally. Is it time to buy the dip?
The first pattern on the memory-chip maker’s chart is the oversold condition on stochastics. Given its current uptrend, strong fundamentals and positive macro backdrop (GDP +6%), that pullback alone is interesting.
Next is a trend line running along the lows of January 27 and March 25....
Freeport McMoRan has steadily rallied since the March low. Now the copper miner may be ready to break out of its longest consolidation since the surge began.
One big feature on the chart is the high basing pattern above $30. It’s recently made higher lows and tried to climb up the right side of that basin.
Price has also held the rising 50-day simple moving...
Chinese technology stocks like Pinduoduo were among the top performers in 2020. They’ve pulled back hard in the last two months, but now certain members of the group are showing signs of stability.
PDD could have the most interesting patterns. First is its recent bounce around $120, which matches a high-volume bullish gap from a strong earnings report on November...
Nio was one of the top stocks in 2020, making even Tesla look like a savings bond. It’s pulled back hard and is now stabilizing with earnings around the corner.
The biggest pattern is the 200-day simple moving average (SMA). Interestingly, TSLA bounced at this exact same line almost exactly one year ago .
Next is the tightening triangle, with a series of...
