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...
The iShares Emerging Markets ETF is one of the most active symbols for tracking global growth. It rallied hard in the fourth quarter, stalled in February and has been consolidating since.
Now some interesting patterns may be appearing on the chart.
First, EEM dove below $52 a month ago but quickly snapped back. It formed a “kicker” candlestick pattern in the...
Silver made a violent move last summer when it broke a six-year resistance level. Prices have consolidated since but now the bulls may be returning.
Notice how XAGUSD probed and held its 200-day simple moving average (SMA) in late March and the first half of April. This was the first test of the 200-day SMA since May.
Second, prices have broken a short-term...
Ethereum had a mini-crash over the weekend along with other cryptos, but there’s been very little follow through to the downside.
The first thing jumping off the ETHUSD chart is the low just below $2,000 on Saturday night. Prices held that level and have been working higher since. That’s a sign that more buyers could be lurking below $2,000 than potential...
Comcast has pulled back after making a new high last month, and now it could be turning upward again.
The media giant battled against a downward-sloping trend line running from March 16 through last Wednesday. But it ended last week breaking above it.
Second, notice the hammer on April 9 had its low around $52.50 -- almost exactly the high on November 24. That...
Bonds have bounced in the last month, but now the bears may be coming back.
The iShares 20+ Year Treasury Bond ETF jumped to its 50-day simple moving average (SMA) yesterday. It was the first test of the SMA since the beginning of the year.
Second, TLT moves in the opposite direction as the CBOE 30-year Treasury Bond Yield Index (TYX). Yesterday it held an...
Macy’s has screamed higher since November, and now may be offering the bulls another entry.
The first major pattern on the retailer’s chart is the upward sloping trending running from the mid-December lows. The bears tried to break it last week but apparently threw in the towel.
Next is the rising 50-day simple moving average (SMA), which M has also held. ...
Cryptocurrencies are in focus this week as Coinbase prepares its direct listing tomorrow. Meanwhile, another early mover in the space has some interesting chart patterns: Microstrategy.
Notice how MSTR has squeezed into an increasingly tight range since its big rally in February. Bollinger Band Width has contracted to 28 percent, its lowest reading since...
Gold miners are one of the worst-performing corners of the market this year. They’ve bounced recently, creating a potential opportunity for the bears.
This chart of the Market Vectors Gold Miners ETF shows the downward-sloping trendline in place since August. Notice how prices are stalling after touching it again.
Second, the 100-day simple moving average (SMA)...
The Russell 2000 had a strong move coming out of the vaccine news in November. It’s been consolidating for the last two months and now may be ready to continue higher.
The main thing jumping out of today’s chart is the 50-day simple moving average (SMA). RUT tested it in early March and has chopped on either side of it since. But now prices are trying to hold it...
The last two weeks have seen a sharp pivot toward technology stocks and the Nasdaq. But traders might want to remember that big financials including Goldman Sachs kick off earnings season next week.
Several patterns appear on the chart. First, GS has pulled back near its 50-day simple moving average (SMA) but not quite touched it.
Second, its range has been...
