The VanEck Gold Miners ETF has had a countertrend rally this month, rebounding from a 17-month low. But now could be the time sellers return.
The first pattern on today’s chart is the $33.25 price zone. GDX bounced at this level in November and July. It marked the high in early September and seems to be resistance again this week.
Next, stochastic has been in an...
The Russell 2000 has been snoozing for most of the year, following a sharp rally last winter. Now traders may want to watch for signs it could be waking up.
The main feature on this chart is the series of higher lows since August, while the top of the range has remained around 2310. That’s starting to resemble a bullish ascending triangle. It’s also noteworthy...
Seagate Technology has spent the last five months pulling back. But now it may be turning around.
The main pattern on today’s chart is the descending trendline that started in May and ran along the peaks of August and September. Notice how STX closed above that line on Friday.
Next, the jump followed two weeks of consolidation along the 200-day simple moving...
Monday.com went public on June 9 and nearly tripled from its offering price by early September. Now after a pause and consolidation, it may be offering an opportunity to trend followers.
The main pattern on the chart is the steady march higher along the rising 50-day simple moving average (SMA). This move also matches a trend line that started in early August....
High and tight: That’s the pattern in fertilizer stock CF Industries.
Notice the sharp rally from the 200-day simple moving average (SMA) since the middle of September. It planted CF above the $56 level where the stock previously peaked in October 2018 and May-June 2021.
Interestingly, CF tried to test back toward that level on Monday but immediately found...
The last year for Chinese technology stocks has been nothing short of a nightmare. But now there could be signs of a turn in the KraneShares CSI China Internet ETF, which holds key names like Tencent and Alibaba.
The 8-day exponential moving average (EMA) was under the 50-day simple moving average (SMA) since March. But last week, that faster-moving line rose...
Financials have been coming to life recently, and soon it could be Discover Financial’s turn.
The credit-card issuer has squeezed into a tight range since late summer. The result was an inside week (begun October 4) and then an outside week (begun October 11). That may suggest it’s starting to break out.
Next, you have the downward sloping trend that began on...
Bank of America is jumping to new 14-year highs after a strong quarterly report. This raises an important question: Will the megabank now return to its previous all-time highs from before the subprime crisis?
BAC peaked at $55.08 in November 2006. It inched lower over most of the following year, before the selling cascade hit. Prices hit a nadir of $2.53 in...
Dell Technologies flew to new highs between late 2020 and early 2021. Now after a long period of consolidation, the PC maker may be squeezing toward a breakout.
The main feature on this chart is the high basing pattern between April and September. Notice how DELL held $94 in May, tested $90.50 in July and held $94 again last month. The result is an inverse...
DoorDash has fought its way higher since the spring on signs of widening adoption. Now the delivery company may be presenting an opportunity after a pullback.
Two important things appear on the chart this week. First, DASH tested and held the $195.45 area. That was the high on August 13, a high-volume bullish outside candle.
Monday's dip resulted in a close...
Goldman Sachs hit a new high late in the summer. Now after a healthy pullback, it may be ready to keep moving.
The first pattern on today’s chart is the falling trendline that began on August 30. GS tried to break that resistance twice last month. It was rejected both times with large bearish engulfing candles. But on Thursday it touched the line and managed to...
Semiconductor stocks have struggled along with the broader market, but a few have managed to outperform. One of them is Broadcom.
The most interesting feature on AVGO’s chart is the series of higher lows, including Monday’s dip under $475. In contrast, the Nasdaq-100 made a lower low versus August.
Next, the bounce is occurring at the 100-day simple moving...
The SPDR Financial ETF broke out to record highs in February, stalled in June and has been resting since. Now it may be getting ready for another move.
The first pattern on this chart is the 50-day simple moving average (SMA). After dancing around this line for almost four months, XLF has managed to hold above it since the end of September. That’s especially...
The Nasdaq-100 just finished its worst month since March 2020. But one key member is standing out: Tesla.
Here’s an interesting factoid from TradeStation’s data farm: Only 15 NDX members closed above their 50-day simple moving averages (SMA) yesterday – the fewest since April 3. Nine of the top 10 companies by market cap were below that line, including Apple,...
Emerging markets have mostly struggled lately as the U.S. dollar climbed. That may have created an opportunity in Brazilian energy driller Petrobras.
Unlike other oil giants like Exxon Mobil and Chevron , PBR has barely moved in the last month as crude oil jumped. However, it closed above its 50-day simple moving average (SMA) on Friday and is continuing to...
The S&P 500 declined for pretty much all of September. But now it’s kicking off October with some potentially bullish activity.
The first pattern on the chart is the false breakdown under the September 20 low of 4306. SPX spent about an hour below that level this morning before the bears cried uncle and prices reversed higher.
Next, relative strength in the...
Reopening stocks like cruise lines have fought higher in the last month. Now Carnival has pulled back, giving a potential opportunity for buyers to get on board.
The main pattern on this chart is the series of higher lows since mid-July, followed by a breakout above $24.50 last week. The level is near the high in December and the low in March and May. It may now...
The Russell 2000 had a sharp rally in late 2020 and early 2021. Now it may be setting up for a similar move.
Notice the triangle forming on the small cap index recently, which is interesting for two reasons.
First, it shows that prices are squeezing into a range. Ranges can be followed by breakouts.
Second, it shows that RUT made a higher low in September...
