The greenback might be showing signs of a peak -- despite strong economic data and a favorable macro environment.
The first pattern on today’s chart of the U.S. Dollar index is the price line around 105. DXY stalled at this level in mid-February and again this week. Some traders may view that double top as a bearish reversal pattern.
Second, the resistance is...
Apple has lagged for months, but some traders may expect a recovery.
The first pattern on today’s chart is the emerging double-bottom around $168.50. AAPL bounced at that level in early March and is trying to hold it again. The kind of price action may suggest the downtrend is slowing – at least for the time being.
Second, the tech giant is expected to report...
Salesforce more than doubled between late 2022 and early 2024. But now some traders may think the provider of marketing software is stalling.
The first pattern on today’s chart is the November 2021 high of $311.75. CRM rallied above that level on March 1 but couldn’t stay there. Such a failed breakout is a potentially bearish reversal pattern.
Second is a trend...
Cheniere Energy has been sinking as the broader market advances. Now some traders may see risk of another push to the downside.
The first pattern on today’s chart is the series of lower monthly highs and lower monthly lows since early December. This contrasts starkly with the advance in the S&P 500, potentially reflecting bearish sentiment in the tanker...
Palantir Technologies has advanced as investors embrace AI and non-government customers embrace its products. Is its current pullback offering an opportunity?
The first pattern on today’s chart is the pair of rallies after the last two quarterly reports. Those may reflect increasingly bullish sentiment toward the software company.
Second, PLTR jumped to its...
Pure Storage jumped to a new record high on strong earnings last month. Now, after a few weeks of consolidation, some traders may expect further upside.
The first pattern on today’s chart is the bullish gap on February 29. The data-storage company has remained completely above the gap, which may suggest there are few sellers.
Second, prices held the rising...
Best Buy has moved sideways since December, but some traders may expect a breakout soon.
The first pattern on today’s chart is the pair of falling trendlines. One ran along the highs of July and December, which BBY crossed in late February. A second along the March highs was broken this week. That may suggest downward pressure is fading in the retailer.
Second,...
Autodesk has been squeezing near a two-year high, and some traders may expect a breakout soon.
The first pattern on today’s chart is the attempted rally on March 1 after earnings, revenue and guidance beat estimates. A falling trendline appeared as the software company pulled back, but it’s now pushing above that resistance.
Second, prices have held the rising...
Berkshire Hathaway broke out to new highs in January. Now after a pullback, it may be continuing higher.
Consider the price zone around $400 on today’s daily chart. It has a potential double significance. First, it represents a 50 percent retracement of the move between January 23 and the high of February 26. Second, it’s near a high on February 13 that was...
BorgWarner has tumbled since the summer, and some traders may see risk of further downside.
The first pattern on today’s chart is the price zone around $32.75. The auto-parts company made lows there in December and January. It peaked at the same area this month. Has old support become new resistance?
Second, BWA is stalling at its falling 50-day simple moving...
Investors have been optimistic about interest rates and inflation for much of the past year. However, two important charts may undermine those hopes.
Today’s weekly chart returns to the yield on the 10-year U.S. Treasury note.
First consider the series of higher lows since July 2022 – despite improvements in headline inflation numbers. That rising trendline may...
Intel has fallen, and some traders may think it can’t get up.
The first pattern on today’s chart is the bearish gap on January 26, triggered by weak guidance. The chipmaker has failed to recover since, even as the broader semiconductor index surged to new record highs. That may suggest it’s less favored than peers.
Second is the January 17 close of $46.06. INTC...
United Rentals has trended higher since October, and some traders may see opportunities in its current pullback.
The first pattern on today’s chart is the rally to new highs on January 25 after earnings beat expectations. The industrial stock has held that move without a significant retracement, which may suggest that buyers outnumber sellers.
Second is the...
Microsoft has been rallying since October, and now a recurring pattern may be present again.
This chart highlights bullish breakouts by the software giant in October and January.
First you have tight consolidation against support. MSFT first held the October 13 closing price of $327.73, followed by the December 4 closing price of $369.14.
In both cases falling...
Semiconductors showed signs of stalling last week, and Advanced Micro Devices might have confirmed a potentially bearish pattern.
Today’s chart highlights the big price swing on March 8, which featured a record high and then a close below the previous session's lows. The resulting candle was both a “shooting star” and a bearish engulfing bar.
AMD proceeded to...
Megacap growth stocks like Nvidia have outperformed for years. But traders looking for the trend to change may see more evidence of a shift.
Today’s idea considers three charts. The first shows how Nvidia (NVDA) rallied 93 percent this year above its previous record high. It also highlights the big price swing on Friday as the chip giant made a new record high...
Verizon Communications has rallied since late October, and some traders may think its uptrend is fading.
The first pattern on today's chart is the pair of bullish gaps on October 24 and January 23 after strong quarterly reports. Notice how prices continued higher after the initial surge, but faded after the second move. That may suggest improved fundamentals are...
Capital One Financial rallied to a 21-month high in late January and paused during February. Now some traders may see upside potential in March.
The first pattern on today’s chart is the series of higher lows with prices remaining below its January 26 close. That ascending triangle is a potentially bullish continuation pattern.
Second, the 8-day exponential...
