The U.S. Dollar Index started falling early last month, and price action around yesterday’s Federal Reserve meeting may confirm its downtrend.
The first pattern on today’s chart is the 104 price area. DXY tried to hold that level in mid-November as it slid toward 102.5. The currency rebounded to stall at the same location last week. If old support became new...
Netflix rallied sharply between mid-October and late November. Now, after a pullback, some traders may expect further upside.
The first pattern on today’s chart is the September closing high of $448.68. NFLX held that level last week. Has old resistance become new support?
Second, the price area matches a 50 percent retracement of the trendline breakout that...
American International Group had one of the biggest drops during the Global Financial Crisis. Now, after 15 years in the penalty box, the former Dow member could be fighting back.
The main pattern on today’s chart is the January 2017 peak of $67.47. It remains AIG’s highest level since October 2008 -- one month after the insurance giant lost about 90 percent of...
DraftKings spent four months digesting a strong first half. Now after a rally and pullback, traders may see more upside in the sports-betting stock.
The first pattern on today’s chart is the August peak of $34.49. Strong earnings propelled DKNG through that level in the first half of November. It continued higher and pulled back, but is now trying to bounce in...
MongoDB almost tripled between November 2022 and November 2023. Now some trend followers may see opportunity in its latest pullback.
The first pattern on today’s chart is the falling trendline along the peaks of July and September. The software company broke it about a month ago and is now probing the line from above. Will old resistance become new support?
The...
Meta Platforms has moved sideways since the summer, but traders may now expect more upside.
The first pattern on today’s chart is the 50-day simple moving average (SMA), which META broke as it started rallying a year ago. Prices remained above the SMA through August, followed by a period of consolidation on either side of it through late October. The social media...
Amgen has been stuck at its current price area for almost 3-1/2 years, but now some traders may expect its longer-term uptrend to resume.
The first pattern on today’s chart is the $255-260 price zone. It roughly matches peaks in the summer of 2020, the spring of 2021 and the spring of 2022. AMGN ripped through it late last year, pulled back and stalled at the...
Tesla has struggled for months, and traders may expect another push to the downside.
The main pattern on today’s chart is the series of lower highs and lower lows since July 19. The EV maker is near the top of this parallel channel, which may create risk of a move toward the bottom.
Second, the 50-day simple moving average (SMA) has been declining and is now...
T-Mobile US has barely moved since mid-2021, but now it may be attempting a breakout.
The first pattern on today’s chart is the series of higher lows since June. Notice how the wireless stock apparently broke the top of that ascending triangle last month. That may signal continuation to the upside.
Next, a falling trendline along the highs of November 2022 and...
Energy was the only the only major sector to fall last month. Is there more downside risk?
The first pattern on today's chart of the SPDR Select Sector Energy Fund is the November 6 close of $85.70. XLE gapped under that level the next day and has remained there since. Last week saw prices attempt to rally but again stall at the same price area. Has old...
Lenders like Bank of America mostly remain negative on the year, but some members of the industry could be breaking out.
The first chart (above) highlights a falling trendline along the peaks of February and July. BAC paused at this resistance two weeks ago but rallied above it yesterday. It also remained above the mid-September high. Did old resistance become...
Nvidia is the top performing member of the S&P 500 this year, up 227 percent. Despite that big move, the chip giant has actually gone nowhere for over four months. But will that remain the case into yearend?
The first pattern on today’s chart is the price area between $470 and $476. That roughly matches NVDA’s high in mid-October (depending on whether you take...
Airbnb bounced earlier in the month, and some traders may look for more upside.
The first pattern on today’s chart is the rally on November 14 after ABNB acquired an artificial intelligence (AI) company to accelerate its projects. ABNB then formed a bullish inside week, which can signal continuation of the move.
Second, prices have pushed above the 50-day simple...
Gold has consolidated for more than two years, and now it may be inching toward a breakout.
The first pattern on today’s weekly chart is the rally in October between roughly $1,812 and $2,000. That move broke a falling trendline from the summer when bond yields were climbing.
XAUUSD then pulled back to bounce above the trendline, turning old resistance into new...
PayPal has skidded lower for more than two years. Now, after a rebound, bears may return to the payments stock.
The first pattern on today’s chart is the series of higher lows since late October. PYPL closed below that line yesterday -- a potential bear-flag breakdown.
Second, the recent peak occurred at the 50-day simple moving average. That may suggest the...
The S&P 500’s advance has been ferocious in November. (Monday’s close puts it on pace for the biggest monthly gain in over a year.) It’s a good time to assess the big index.
The first pattern on today’s chart is the price gap on August 2 after Fitch downgraded the U.S.’s sovereign credit rating. It was resistance in early September before SPX proceeded to drop...
The iShares MSCI Brazil ETF has squeezed into a tight range since the coronavirus pandemic, but now it could be nearing a breakout.
Today’s chart uses two-week candles to display the price action since 2016.
First consider the falling trendline since December 2019, along the highs of 2021, 2022 and earlier this year. EWZ jumped above the line last week after...
GoDaddy didn’t go anywhere for years, but that might be changing.
Today’s chart uses a two-week interval to highlight the prolonged consolidation period between late 2018 and earlier this quarter. Notice the large bullish engulfing candle in late October and the start of November, with continuation this month.
That strong move established GDDY near the top of...
