Amazon.com has rebounded from a drop, but some traders may think the e-commerce giant will give back some of its recent gains.
The first pattern on today’s chart is the $181.87 level. It was the low immediately before earnings came out and represented the approximate high last week. Has old support become new resistance?
Second, Wall Street wasn’t thrilled with...
The SPDR Select Sector Materials ETF has been moving sideways for months, but some traders may see potential for a breakout.
The first pattern on today’s weekly chart is the price zone around $88. XLB bounced there several times, leaving a rounded basing pattern (a low, a lower low and a higher low). Also notice how the bottom of its range was slightly above the...
Tesla has been climbing recently, but some traders may see a bigger downtrend.
The first pattern on today’s chart is the series of higher lows since August 5. The EV maker fell yesterday to close at its lowest level in over a week. That may be viewed as a breakdown from a bearish flag.
Second, Tuesday’s high occurred near a 50 percent retracement of the move...
The Russell 2000 remains well below its record highs from 2021 – unlike other big benchmarks. But some traders may think the small-cap index can play catch-up.
The first pattern on today’s chart is the falling trendline along the peaks of May and June. RUT broke it in mid-July and retested it a few weeks later. Has old resistance become new support?
Second,...
Amgen has been fighting higher this year, and some traders may think a longer-term uptrend is in place.
The first pattern on today’s chart is the move under $310 after mixed quarterly results. The drugmaker quickly recovered as Wall Street focused on its pipeline. The resulting drop and rebound could be viewed as a “false breakdown,” which is potentially...
Expedia has gone nowhere for most of the year, but some traders may think the travel stock has begun a northward journey.
The first pattern on today’s chart is the bullish price gap on August 9 after earnings and revenue beat estimates. EXPE has made successively higher lows every session since then, which may indicate that buyers are in control.
Second, prices...
American Tower spent most of 2024 underwater, but it’s shown signs of revival in recent weeks.
The first pattern on today’s chart is the pair of bullish gaps on July 11 and July 30. The first followed the lower-than-expected inflation report, which spurred hopes of rate cuts. The second followed strong earnings, revenue and guidance. Those jumps may reflect...
Industrial stocks have been rangebound for most of the year, but now they might be breaking out.
Today’s weekly chart features the SPDR Select Sector Industrial ETF, which holds stocks in groups like aerospace, general manufacturing, transportation and construction. The main pattern is the pair of lines at $120 and $126.
The lower price was near a weekly low in...
Pfizer has struggled for years, but some traders may see signs of a turn.
The first pattern on today’s chart is the pair of positive moves after stronger-than-expected earnings reports. Those may reflect improving fundamentals for the drugmaker.
Second, the 50-day simple moving average (SMA) had a “golden cross” above the 200-day SMA last month. Has the...
D.R. Horton broke out to new highs last month, and now it’s pulled back.
The first pattern on today’s chart is the July 25 weekly low of $170.33. The homebuilder probed below this level a few times last week but managed to remain above it. That may suggest that new support has been established above its previous record high from April 2.
Second, the 21-day...
Many big technology stocks pulled back sharply in recent weeks, but ServiceNow could be sneaking higher.
The first pattern on today’s chart is the falling trendline along the highs of July 5 and 23. Strong quarterly results pushed NOW above this resistance on July 25, and it has remained there since.
Second, prices have stayed above the 50- and 100-day simple...
Microsoft has declined along with other AI names in the last month. How big was the pullback? Some traders may be surprised to know its intensity.
The first noteworthy signal on today’s chart is Wilder’s Relative Strength Index (RSI). The oscillator hit 24.69 on Monday. That was the lowest reading since August 2015. In other words, MSFT this week was more...
The broader stock market fell sharply in recent weeks, but Meta Platforms has barely moved. Is it a positive sign?
The first pattern on today’s chart is the May 31 low of $454.16. The social-media giant held that level on July 25 as the Nasdaq-100 tumbled. It remained above it in subsequent sessions, even as the bigger index made new lows. That may suggest new...
The Nasdaq-100 has fallen sharply in the last three weeks, but some traders may think the tech-heavy index is oversold.
The first pattern on today's chart is the sequence of simple moving averages (SMAs). The 50-day SMA is above the 100-day SMA and both are above the 200-day SMA. That may indicate the presence of a longer-term uptrend.
Second, NDX tested and...
Enphase Energy has drifted sideways for almost a year, and some traders may think a long-term downtrend is resuming.
The first pattern on today’s chart is the drop after prices stalled at the December high near $140. That false breakout is a potentially bearish signal.
ENPH proceeded to slide below $100. It next bounced and retraced about half the decline, which...
The U.S. Dollar Index has drifted for more than a year, but now some traders may look for a move to the downside.
The first pattern on today’s chart (using 2-day candles) is the pair of converging lines since late 2023. DXY broke this pattern in early July, which may suggest it’s getting ready to move.
Second is the tight range between 104.8 and 104. The higher...
The 10-year Treasury yield has been a key chart for risk appetite since interest rates started rising in late 2021. Now it might be confirming a move in the opposite direction.
The first pattern on today’s chart of TNX (using 2-day candles) is the series of lower highs since October. Notice the steepening downward slopes of the falling trendlines. Does this...
Citigroup has recently inched higher as the broader market pulled back. Now some investors may think the banking giant will continue upward.
The first pattern on today’s chart is $63.46, the close on June 28 and the last price of the first half. C tested and held it in two separate weeks. It’s also near the peaks of May. Has new support been established at higher...
