As we enter December, it can be useful to look back at some of the companies that struggled the most in 2020. They may offer downside opportunities into yearend.
One of the biggest examples might be debt-laden Teva Pharmaceutical Industries.
TEVA was struggling long before coronavirus, having steadily declined since late 2015. It had a big bounce between October...
Big tech stocks have been snoozing since their frenzied peak in early September. But yesterday, one of the biggest names showed signs of waking up.
Nvidia traded down to $518.89, under Friday’s low. It also traded up to $536.50, slightly above Friday’s high. That’s a bullish outside day, a potential sign of buyers getting active.
The low was also noteworthy...
The Nasdaq-100 has been dead in the water since a frenzy of bullishness in early-September, but now it could be coming back to life.
The first reason is last week’s break of the downward-sloping trendline we observed on November 18.
Second, NDX is pushing again the bearish outside day on November 9. That reversal pattern offered resistance for a while, but now...
Sea Ltd. Is one of the biggest companies people have never heard of – especially after this year’s big run from the $40s to the $180s.
The Singapore-based esports giant had a $90 billion market cap last week. That makes it comparable with Target (TGT) and CVS Health (CVS).
Trend followers may eye the chart for continuation higher into yearend. The first key...
Walgreen Boots Alliance has trended lower since mid-2015. However now it could be showing signs of a historic turn.
The first thing that jumps out on this chart is the false breakdown in late October, followed by signs of a higher low this month. Notice how WBA knifed under $34 before spiking back above $44.
Next, where are prices stabilizing? The current level...
Earlier this month, the iShares 20+ Year Treasury Bond ETF had a “ death cross .” It proceeded downward as expected after that signal, only to rebound. This creates the potential for another continuation trade to the downside.
Today’s idea highlights two other features on TLT’s daily chart. First is the descending price channel in place since the beginning of...
Ethereum had a bullish weekend. It pushed above the previous 2020 high of $489 on Friday morning and quickly proceeded above $500. It held its ground above that level and has continued upward through today.
This is important because there’s no obvious resistance on ETHUSD before the May 2018 high of $832. That’s about 40 percent away. Meanwhile, Bitcoin is near...
EBay was one of the surprise breakouts of early 2020. The online-auction and e-commerce stock ripped to new 52-week highs in May and kept flying on raised guidance in June. The strong numbers kept coming in July and October, but the stock just drifted and then slid lower.
The pullback landed EBAY back at a key level around $47, the old record peak from 2018. It...
Last week we cited the falling trendline in Apple. So far, it hasn’t broken out. Not surprisingly, this pattern appears in other key names like Facebook and Advanced Micro Devices. Most importantly, it’s also on the Nasdaq-100’s daily chart.
The tech-heavy index has been fighting this downward trend for most of November. This morning it made an attempt to rally...
Many stocks have hit new highs this month, but Amgen isn’t one of them.
The biotech may be showing signs of topping out. The main thing jumping off its chart now is the falling 50-day simple moving average (SMA). Current prices have dropped back to the 200-day SMA. If the trend continues, it could produce a “death cross.”
Next, why is AMGN’s 50-day SMA falling?...
United Parcel Service has been one of the bullish surprises of 2020 and the coronavirus pandemic. New CEO Carol Tome has shaken up the once-dull shipping company with a major focus on profitability, launching its share to new all-time highs in July.
The last earnings report on October 28 was also strong. However, investors had “bought the rumor” beforehand and...
Alibaba is the most prominent of the major Chinese technology stocks that have soared in 2020. It fell sharply after authorities suspended the initial public offering of its Ant finance arm on November 3.
That decline has landed BABA deep in oversold territory, according to stochastics. This is the most oversold since June 2019 when Beijing and Washington were...
Some traders may remember the historic selloff in the U.S. dollar that began in late 2002. Current conditions appear similar.
Notice on this chart how the U.S. dollar index pushed to a new 52-week low and then consolidated. Notice how the 50-day simple moving average (SMA) tried to turn higher but failed. Notice how DXY also tested the 100-day SMA and failed....
Recent sessions have seen shift toward cyclical stocks and value names like energy and financials. This follows hopes of Pfizer’s coronavirus vaccine restoring things to normal.
The key word, of course, is hope . Even if the vaccine works, we don’t know how quickly the economy may return to its previous pace.
But for a tech stock like Apple there are things we...
Housing stocks outperformed earlier this year thanks to low interest rates, an exodus from cities and tight inventories. They recently pulled back but could now be at support.
The iShares US Home Construction ETF is sitting around the same $52 zone where it bounced in September and late October. ITB is also near its 100-day simple moving average (SMA), a line it...
Bitcoin recently consolidated in a tight range below its bear-market high before breaking out. Ethereum may now be following a similar pattern.
ETHUSD started rallying at the start of last week before pausing below its September peak of $489. Instead of dropping sharply as before, it has squeezed into a triangle pattern. November 8th, 9th and potentially the 10th...
Netflix was an early beneficiary of coronavirus as stay-at-home orders boosted demand. That makes today’s news of potential vaccine success from Pfizer a clear negative.
NFLX has other issues. In particular, a bearish gap on October 21 after subscriber growth missed estimates. Management warned that would happen in July because the pandemic was essentially...
Bonds have drifted lower since the start of August. There could now be signs of acceleration.
One important feature on the IShares 20+ Year Bond ETF is the declining 50-day simple moving, now on the verge on the crossing under the 200-day SMA. A “Death Cross.”
Next is the downward channel in place since early September. TLT failed at the top line yesterday and...
