The Nasdaq-100 has lagged the S&P 500 since the summer, but some traders may look for it to catch up in coming weeks.
The first pattern on today’s chart is the August 23 weekly close of 19,721. NDX tested and held that level last week, potentially turning old resistance into new support.
Second, MACD and the 21-day exponential moving average are rising. Those...
Broadcom has been one of the top-performing large cap stocks this year. Now, after a period of consolidation, some traders may see potential for further upside.
The first pattern on today’s chart is the August 19 close of $167.71. AVGO initially stalled at this level and struggled to cross it in the first half of September. But it broke out later in September,...
Adobe has been struggling all year, and some traders may think the software stock has space to the downside.
The first pattern on today’s chart is the series of lower highs since September 13. ADBE dipped below its subsequent low this week, potentially breaking a bearish descending triangle.
Next, the triangle followed a sharp gap lower after guidance...
Treasury yields have been sliding since April. Now, after a two-month pause, some traders may see further downside.
The first pattern on today’s chart is the series of lower highs since mid-July. TNX could be stalling at the same resistance, potentially confirming the downtrend.
Second is the December low around 3.785. Yields tried to hold that level in August...
Harmony Gold Mining rallied sharply in March and April. Now, after a period of consolidation, some traders may see potential for a breakout.
The first pattern on today’s chart is the range between $8.50 and $11. Prices are nearing the upper level. A close above may confirm resistance is fading.
Second is the series of higher weekly lows since mid-June. Those...
Apple could be stair-stepping toward a potential breakout as a big month approaches.
The first pattern on today’s chart is the pair of rallies and pullbacks since early August. Both times the smart-phone giant bounced at a 50 percent retracement of the upward move. (See the green arrows.) Does that reflect the presence of an uptrend?
Next, AAPL is holding above...
Some major stocks have done little as the broader market hits new highs. Today’s idea considers two members of the Dow Jones Industrial Average where some traders may see potential upside signals: Microsoft NASDAQ:MSFT and Goldman Sachs NYSE:GS .
The first pattern on both is the tight pullbacks after rallies. Those may be viewed as bull-flag continuation...
UnitedHealth broke out to new highs in July. Now after a pullback, some traders may see potential for a continuation to the upside.
The first pattern on today’s chart is the pair of bullish moves after the last two earnings reports. That kind of price action may reflect positive sentiment toward the health insurer’s fundamentals.
Next, the second jump propelled...
Texas Instruments is battling a long-term price line, and some traders may think the chipmaker is ready for a breakout.
The first pattern on today’s chart is the $202.26 level, its previous all-time high from almost three years ago. TXN approached this zone in late May before pausing. It tried again in July but fell along with the rest of the market. The stock...
Energy stocks bounced last week. However they remain the worst-performing sector this year and now some traders may see downside risk in Chevron.
The first pattern on today’s chart is the March low of $147.67. CVX knifed through this potential support level in early August and peaked near it a few weeks later. Now it’s stalling around the same level. Has old...
Nvidia has been largely quiet as the S&P 500 pushes to new highs, but will that change?
The first pattern on today’s chart is the convergence of the 50- and 100-day simple moving averages. On one hand, this highlights the semiconductor giant’s longer-term uptrend. On the other, it highlights intermediate-term neutrality. That could make some trend followers look...
Bank of America fell sharply over the summer as Warren Buffett sold shares. But now some traders may think the lender has stabilized.
The first pattern today’s chart is the rally between early August and early September. BAC retraced half the move before returning to the upside. That may suggest that buyers are in charge.
Second, the bounce occurred at the...
Gold has been rallying to new highs recently, and now some traders may think silver can play catch up.
The first pattern on today’s chart is the pair of converging lines this year. Notice how XAGUSD has been pushing against the upper line since Friday. That may be viewed as the start of a breakout.
Second, prices held a peak from late August. Old resistance...
Caterpillar began the year with a strong rally before entering an extended pause. But now some traders may think the Dow Jones Industrial Average member is ready to start moving again.
The first pattern on today’s chart is the low in June, the lower low in August and this month’s higher low. That’s a potential high basing pattern that may suggest new support has...
Uber Technologies has drifted sideways for most of the year, but some traders may think it’s getting ready to move.
The first pattern on today’s chart is the previous all-time high of $64.05 from 2021. UBER bounced at this level in June and is trying to stabilize slightly above it this month. That may suggest that support has developed above old...
Tapestry had a big rally in the first quarter and has been consolidating since. Now some traders may see potential for a move to the upside.
The first pattern on today’s chart is the January low of $35.26. The retailer tested and held that level in early August, which may suggest that support is in place.
Next, a trio of bullish candles after the most recent...
Chip stocks have been climbing since early last year. Now, after a healthy pullback, some traders may look for the longer-term uptrend to continue.
The first pattern on today’s chart of the Philadelphia Semiconductor Index is the rising 200-day simple moving average (SMA). SOX bounced at this SMA in late 2023 and again last month. The most recent price action...
Marvell Technology surged on strong results last month. Now some traders may think the chip stock will continue higher.
The first pattern on today’s chart is the bullish gap on August 30 after the quarterly numbers. That may reflect positive sentiment in the name -- especially given its potential datacenter AI exposure.
Second is the series of lower highs since...
