Walmart has fallen by the wayside lately as investors focused on reopening stocks. But now it could be poised for a rebound as the coronavirus pandemic worsens.
The big box retailer has a trendline starting at the March lows, which was tested in early July and late October. It’s now returned to consolidate at that line.
WMT’s 50-day simple moving average (SMA)...
General Motors has been in the fast lane since the fourth quarter began. It’s now having its steepest pullback of the rally, offering momentum investors a potential opportunity.
The first feature on GM’s chart is yesterday’s hammer candlestick. Sellers tried to push the shares below $41 but weren’t able to keep it there.
Second, that $41 level is potentially...
Bitcoin has moved sideways for most of December as it consolidated its October and November gains. But now the chart could point to further upside.
The main pattern at work is the bullish ascending triangle that began with the Thanksgiving pullback. BTCUSD proceeded to make a higher low one week ago. It then successfully tested that low with a false breakdown on...
Las Vegas Sands jumped on November 9 when news of Pfizer’s vaccine hit. It’s consolidated since, and is now showing some potential signs of continuing higher.
The first pattern on LVS is its gap above the previous high around $56. The shares have held their ground above those old highs, suggesting it’s found support above old resistance.
Next is the higher low...
Catalent is an interesting company because it managed to get added to the S&P 500 before Tesla in early September. It also traces its history back to the creation of soft-gel pills in the early 1930s.
CTLT has trended higher most of the year, fueled by strong results. The stock rallied after its last earnings report on November 3, and has now retraced most of...
For over a month, the stock market has priced in a post-Covid reopening. Now there could be signs of that trend exhausting itself.
First and foremost is the recent double-bottom on the iShares 20+ Year Bond ETF. We cited downside in this instrument twice as it hit the top of its channel. But it made a slightly higher low/double following the last drop. That could...
One of the most interesting things about the rally since early November is the broad participation by smaller companies, and the near-total abandonment of megacaps. For example, the S&P 500 made new 52-week highs in five of December’s first eight sessions. However, only two of the 10 biggest U.S. companies by market cap accomplished the same feat: Alphabet and...
Stocks began this week bordering on complacency, according to various sentiment gauges. Yesterday we got the first potential warning of a pullback as the S&P 500 hit a new intraday high and quickly sold off. That resulted in a bearish outside day, which can be a reversal pattern.
The VIX had just the opposite – a bullish outside day. It also occurred around the...
Target has been one of the most interesting large companies in the last 2-3 years. It’s managed to dodge the retail apocalypse, build a thriving digital business and enamor a new generation of younger shoppers.
The stock pushed to new highs after a strong earnings report on November 18. It then pulled back gently and is now trying to make a higher low above its...
Chipotle Mexican Grill is one of the biggest restaurant survivors of the pandemic. It’s consistently beaten estimates by growing in the digital space.
Like many other beneficiaries of coronavirus, CMG has chopped in a range since September. However, the price action may be pointing toward a breakout.
First, the shares closed yesterday at a trendline running...
Streaming-video giant Netflix has been dead in the water since early July. But now some of its chart features could be getting interesting.
First, NFLX’s range of motion has tightened lately as the rest of the market’s expanded. We can see that in its bullish inside week (beginning November 16). Two small candles have followed as prices inched higher. Bollinger...
Semiconductors have remained one of the strongest corners of the market. Now Skyworks Solutions could be ready to join the rally.
The iPhone supplier has struggled with insider selling despite beating estimates on November 2. But its chart is looking more bullish lately.
The first signal was MACD turning positive back on November 30. That was the same day Morgan...
Most of the high profile ‘FANG’ stocks haven’t done much recently. That is, aside from Alphabet, which is leaving them all in the dust.
GOOGL was the only company worth over $300 billion to hit a new 52-week high yesterday. It was also one of only a few traditional technology stocks to hit new highs, accompanied by a few semiconductor firms like Lam Research and...
As we enter December, it can be useful to look back at some of the companies that struggled the most in 2020. They may offer downside opportunities into yearend.
One of the biggest examples might be debt-laden Teva Pharmaceutical Industries.
TEVA was struggling long before coronavirus, having steadily declined since late 2015. It had a big bounce between October...
Big tech stocks have been snoozing since their frenzied peak in early September. But yesterday, one of the biggest names showed signs of waking up.
Nvidia traded down to $518.89, under Friday’s low. It also traded up to $536.50, slightly above Friday’s high. That’s a bullish outside day, a potential sign of buyers getting active.
The low was also noteworthy...
The Nasdaq-100 has been dead in the water since a frenzy of bullishness in early-September, but now it could be coming back to life.
The first reason is last week’s break of the downward-sloping trendline we observed on November 18.
Second, NDX is pushing again the bearish outside day on November 9. That reversal pattern offered resistance for a while, but now...
Sea Ltd. Is one of the biggest companies people have never heard of – especially after this year’s big run from the $40s to the $180s.
The Singapore-based esports giant had a $90 billion market cap last week. That makes it comparable with Target (TGT) and CVS Health (CVS).
Trend followers may eye the chart for continuation higher into yearend. The first key...
Walgreen Boots Alliance has trended lower since mid-2015. However now it could be showing signs of a historic turn.
The first thing that jumps out on this chart is the false breakdown in late October, followed by signs of a higher low this month. Notice how WBA knifed under $34 before spiking back above $44.
Next, where are prices stabilizing? The current level...
