Energy stocks have dominated the market this year, but now the biggest of the bunch is showing signs of weakness: Exxon Mobil.
The first pattern on today’s chart is the jump following strong quarterly results on July 29. While that may have been impressive, it soon faded – a potential sign of marginal selling.
Next, the peak was below the $97.77 level where XOM...
Micron Technology hit a new 52-week low in early July, followed by a tepid rebound.
The first pattern on today’s chart is the 50-day simple moving average (SMA). MU is only now returning to this line -- despite broader market being above the 50-day SMA for two weeks. That’s a sign of relative weakness. Could it also make trend followers expect a continuation of...
Visa has trended steadily lower for the past year, and now some patterns may suggest that another peak has formed.
The first item on today’s chart is the attempted rally on July 27 following better-than-expected earnings. It looked like V could stay green for about half the day, but then it knifed down on heavy volume. The resulting higher high and lower low...
Bank of America had relief rally in the second half of July, jumping from a 52-week low under $30. Now some traders may think it’s overbought.
The main pattern on today’s chart is the declining 50-day simple moving average (SMA). The recent surge brought BAC back to the line for the first time since late February. Trend followers may now look for the bearish...
Most Chinese stocks remain well below their 52-week highs, but not Li Auto.
Let's consider some of the patterns on the Beijing-based maker of electric cars and SUVs.
First you have the level around $33. It was the opening price on December 3 when news of Didi's delisting hammered Chinese stocks. LI briefly retested it on January 3 before stalling and proceeding...
Occidental Petroleum is the top performing member of the S&P 500 so far this year with a gain of 122 percent. It's drifted in the last few months, but now some interesting patterns may be appearing on the chart again.
First is the tight consolidation at the 50-day and 100-day simple moving averages (SMAs). OXY has remained close to both following its big rally in...
Most members of the S&P 500 closed lower on Friday. Today we’re looking at one of the gainers: American Tower.
A few interesting patterns appear on this daily chart of the wireless-tower operator.
First is the narrowing consolidation between the 50-day simple moving average (SMA) and 200-day SMA. Bollinger Band Width has tightened to its closest range since...
General Mills has been a slow mover for years, but the Cheerios maker has gotten more interesting lately.
The main pattern on today’s chart is the June 29 rally above $73. That was not only a new 52-week high. It was also a breakout above the previous all-time peak in July 2016.
Next, consider how GIS pulled back and held the level yesterday. Has old resistance...
The Nasdaq-100 is hitting its highest prices in over a month. Now could be a good time to review some patterns on the tech-heavy index.
Aside from simple levels, NDQ is above its 50-day simple moving average (SMA) for the first time since April 7. That could suggest a change in this year’s bearish trend.
Second, you have the series of higher lows since mid-June....
Procter & Gamble (PG) fell sharply two months ago. Now, after a rebound, it could be struggling.
The first pattern on today’s chart is the big drop on May 18 after Target’s (TGT) weak quarterly report hammered retailers. PG rebounded toward $149 before making a new 52-week low under $130. It then retraced most – but not all – of the drop. The result was a...
Home Depot could be attempting a breakout as investors await key industry data.
The main patterns on today’s chart are the falling trendline and the 50-day simple moving average (SMA). HD is attempting to push through both.
This is especially interesting because TradeStation data shows fewer than one-third of S&P 500 companies are above their 50-day SMAs. The...
Sometimes in a bear market a handful of stocks remain closer to their highs before rolling over. Amgen (AMGN) could face such a condition.
The main pattern on today’s chart are the candlesticks of July 8, 11 and 12. The drugmaker attempted to push above $249 but each time closed below that level. Also notice how this price area roughly matches the closing price...
Solar energy has been one of a few bright spots in this bearish market. Today we’re looking at the company in the group with the largest market cap: Enphase Energy (ENPH).
The first pattern on this daily chart is the uptrend since mid-May -- the opposite of the broader market’s price action. In fact, ENPH hasn’t made a new 52-week low in 117 sessions. (The S&P...
A certain pattern has appeared several times in the S&P 500 over the past year. Now it may have returned.
Consider the falling trendline on this daily chart. Notice how the current price action resembles moments like October 2021, March 2022 and May 2022.
Each time the index pulled back and stabilized. It then pushed against resistance as the Relative Strength...
A painful half is finished for the Nasdaq-100. Now there could be signs of a turn.
The first pattern on today’s chart is the 11,069 level. NDX peaked in that area in July 2020 and bounced there 3-1/2 months later. The index returned to hold the same support in mid-June 2022.
Second, notice how prices held about 2.6 percent above that low in the past week....
Amazon.com has retraced almost all of its pandemic gains. Is this an opportunity for buyers? Let’s consider some chart patterns.
First is the $101.79 level (split adjusted). It was a peak in July 2019 and a breakout area immediately before the coronavirus selloff in early 2020. AMZN probed that zone in late May and again in mid-June, each time managing to rebound...
Soaring inflation and bond yields have hammered sentiment all year. But now there could be signs of yields peaking.
A few patterns appear on this chart of the 10-year Treasury yield. First is the October 2018 high of 3.248 percent. TNX jumped above that level for six sessions before rolling over. It tried it again on June 28, but failed. That lower high may...
The broader market has been super volatile lately, which makes the tranquil behavior of one retailer interesting: Dollar Tree.
Notice how the discounter plunged on May 18 after Target’s poor quarterly results. Also notice how quickly it rebounded after its own quarterly numbers handily beat estimates on May 26. The stock has barely moved since then – despite...
