Solar stocks have outperformed lately as investors react to high oil prices and the green-energy movement. Today we’re looking at SolarEdge Technologies , the No. 2 company in the group by market cap behind Enphase Energy .
The main pattern on the chart is the falling trendline that began in November and ran along the highs of April and most of July. SEDG...
Sociedad Quimica y Minera is a Chilean fertilizer company reinventing itself as a lithium provider. Today we’re looking at some potentially bullish patterns as it squeezes back toward triple digits.
First are the pair of strong earnings reports on March 2 and May 19. The initial headline lifted SQM above its previous all-time high from July 2011. The second one...
The Philadelphia Semiconductor Index ripped about 29 percent between early July and early August, but now it may be showing signs of fatigue.
The first pattern on this chart is last Thursday’s peak of 3087 -- slightly below the early June high of 3159. That lower high is potentially noteworthy when compared with the broader Nasdaq-100, which pushed above the...
The Nasdaq-100 has been climbing for weeks and just finished its best month since April 2020. Will it stall and roll over like in April and early June, or is it different this time? Today’s chart shows some reasons to feel potentially more constructive about the current activity.
The first pattern is the price zone around 13,000. NDQ bottomed near this area in...
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...
