Tesla has struggled since last summer, and now some traders may see further downside risk.
The first pattern on today’s chart is the bearish gap on January 25 following weak results and guidance. The EV maker has remained under the preceding low. Has new resistance formed below old support?
Second, TSLA was rejected at $200 on February 16. The resulting hanging...
Halliburton has been sliding since mid-October, but there could be signs that the energy-services giant has bottomed.
The first pattern on today’s chart is last week’s bounce around $34, about $1 above the mid-January trough. Such a higher low could indicate that a downtrend is ending.
Second, combined with the price action in the first half of December, a...
Alphabet has climbed for the past year, but now its uptrend may be at risk.
The first pattern on today’s chart is the late-January failed breakout above the November 2021 high of $150.97.
GOOGL then fell and held the bottom of a rising channel and its 50-day simple moving average. It bounced and returned to close back under those lines last week. Is the uptrend...
Goldman Sachs has gone nowhere for two months, but some traders may look for that to change.
The first pattern on today’s chart is the $374 level. It was a weekly closing price from January 2023 that GS remained below through late December. The stock rallied above it at the end of last year and has remained there since. That could suggest old resistance has...
Huntington Bancshares isn’t an actively traded name, but its chart may have some potentially interesting patterns this week.
First is the level around $12.19, its highest weekly close last summer. HBAN jumped above that price in mid-December before testing it in January and again this month. Old resistance may have become new support.
Second is the series of...
Gold has traded in a tight range since November, and some traders may see downside risk.
The first level on today’s chart is the recent series of higher lows and lower highs. XAUUSD has broken the bottom of that triangle, which may suggest its consolidation period is resolving to the downside.
Second, the price level around $2,075 marked peaks in July 2020,...
The S&P 500 has closed above its previous highs for three weeks, potentially confirming a new bull market. But Apple is lagging.
The first pattern on today’s chart is the tech giant's candle on December 14. Prices inched above their July peak but closed slightly below it. AAPL then retreated toward $180 and rebounded to make a lower high in late January.
That...
MSCI rallied on strong earnings last month, and some investors may look for the gains to continue.
The first pattern on today’s chart is the bullish price gap on January 30 after profit and revenue beat estimates. The move established prices above the December 29 peak, which was the stock’s highest level since early 2022.
Second, the index provider has held the...
Carvana has consolidated since last summer, but now it may be driving higher again.
The first pattern on today’s chart is the falling trendline along the peaks of December and January. CVNA pushed through it this week, which may suggest a breakout has begun.
Second, the online car seller bottomed slightly above a December weekly close of $40.26. Is that level...
Big tech earnings have mostly passed, and another corner of the market could be quietly breaking out.
Today’s chart focuses on the Industrials Select Sector Index, which includes major sector holdings like Caterpillar, Union Pacific and Boeing.
The key patterns are the peaks from August and December. Both represented record highs at the time. First notice how...
Dicks Sporting Goods has been rallying since November, and now it may be breaking out.
The first pattern on today’s chart is $149.73, the previous daily closing high from March 8, 2023. The retailer stalled around this level in August and December. However, it broke above the price zone in mid-January and made a new low there last week. Has old resistance become...
Electronics manufacturing company Jabil has trended higher for the last three years. Now, after a period of consolidation, some traders may expect further upside.
The first pattern on today’s chart is the trendline along the highs of December and January. Prices moved above this resistance last week and have remained there since. They also held the January 30...
Seagate Technology rallied in late 2023 and consolidated last month. Now some traders may see potential for the data-storage company to continue higher.
First consider some longer-term patterns. STX broke out to a new 52-week high in mid-November and peaked at $79.42 later that month. Prices continued upward in December and in January pulled back to hold the same...
Micron Technology has pulled back after hitting its highest level in almost two years, and some traders may see an opportunity.
The first pattern on today’s chart is the price area around $85, MU’s approximate high in the first half of January. It also represents a 50 percent retracement of the move so far in 2024.
Second, the memory-chip maker is trying to...
Exxon Mobil has bounced in the last two weeks, but how much higher can it go?
The first pattern on today’s chart is the $105.87 level. It was the closing price on November 6. XOM remained below it later that month and been unable to reclaim it since. That may suggest it’s become resistance.
Next, stochastics returned to an overbought condition.
Third, the...
The Russell 2000 small cap index has lagged the broader market so far in 2024, but now it may be showing signs of strength.
The first pattern on today’s chart is the lower low and higher high on Monday versus Friday. That kind of bullish outside candle may suggest that buyers are taking control.
Second, prices pushed above a falling trendline from the December...
Chips have begun 2024 on a strong note, and some traders may look for NXP Semiconductors to participate in the rally.
The first pattern on today’s chart is October’s monthly closing high of $203.46. NXPI paused below the level around November 20. It then climbed, and the same price area went from being a weekly high to a weekly low. A successful retest followed...
Marathon Petroleum has moved sideways since the summer, but some traders may think the refinery stock will start running.
The first pattern on today’s chart is the April 2023 high of $138.83, a new record at the time. MPC rallied above it last summer and has remained there since. That may suggest a longer-term breakout is occurring.
Second, the stock has started...
