Precious metals have been the strongest corner of the market this year. It’s not a surprise when you consider the coronavirus pandemic, the resulting economic crash and now hefty monetary stimulus from central banks. Precious metals might not have controlled supply like Bitcoin , but it’s definitely MORE controlled than fiat currencies.
Gold and silver both took...
Bitcoin has been in a very tight range for the last month, despite halving on May 11. It might not be ready to rally immediately, but the bullish pressure seems to be growing.
Today we’re focused on the downward-sloping trendline that’s formed in the last year. It’s been a clear negative for price that needs to be overcome before buyers can return with...
Micron Technology has staggered since the market crashed in February and March. The chip stock is very sensitive to the economy because of its reliance on the cyclical memory-chip market.
If the global shutdowns continue, MU faces the risk of falling orders and prices. But if things recover, it controls a valuable corner of a strategically key industry.
This...
We highlighted some levels on the S&P 500 earlier this month . Both of the index’s sharp bounces in May occurred after the 2820 line held.
Now that it’s 100+ points higher, a channel seems to be emerging on the chart. Its top is in the 2950-2980 zone from late April and earlier this week.
If the bulls run out of energy here, traders may want to look for a...
Chips have been one of the strongest industry groups in the last several years. The drivers are mobility, cloud computing, gaming and increased semiconductor use in general (including autos and industrial devices). 5G is another looming catalyst.
Today the Philadelphia Semiconductor Index is on pace for its highest close since coronavirus first hammered the...
Several technology stocks have formed bullish triangles as they consolidate from the last few months’ of volatility. These include Microsoft , Salesforce.com and Mastercard – all playing out to the upside.
Today another appears on the list: Semiconductor-equipment firm Applied Materials .
AMAT has been trapped below its 200-day simple moving average (SMA)...
What a difference a month makes! At this time in April, crude oil was in negative territory as the market literally paid you to take barrels away. Now it's rebounded sharply as the economy reopens. On top of that, Memorial Day weekend is coming. Even if coronavirus hurts some travel demand, summer driving season is still around the corner.
That brings us back to...
Sometimes people forget that the credit-card companies are members of the technology sector, but they are. We’ve already covered the bullish triangles in other tech names like Microsoft and Salesforce.com . And now Mastercard is showing a similar pattern.
MA has faced resistance around $282, which closely matches its 200-day simple moving average (SMA)....
Alphabet has struggled more with coronavirus than some other big technology names because of its reliance on advertising. GOOGL is still below its old $1 trillion market cap level, even after Microsoft , Amazon.com and Apple reclaimed (or kept) that honor.
GOOGL had a decent earnings report on April 28. The growth in non-search businesses like YouTube was...
The last eight weeks of gains in the market have provided significant consolidation time. Many stocks that fell sharply in February and March have gone sideways and may now be at risk of continuation to the downside.
General Motors could be a major example of that trend. The automaker lost half its value when the S&P 500 crashed and has done little to recover...
One of the striking things about this earnings season has been the broad strength across technology and e-commerce. Whether you’re looking at Shopify , Twilio or PayPal , one company after another has rallied despite the coronavirus pandemic.
And now one of the biggest names of all, Alibaba, has some interesting patterns as its quarterly numbers...
Software has been one of the strongest industry groups lately as investors view it as largely immune to Covid-19. On Tuesday we highlighted Microsoft’s bullish triangle , and today another major player has a similar pattern.
Salesforce.com is pushing against the $165 area that held it in check last year (flagged in this idea ). CRM has also made a series of...
Microsoft has been squeezing into a range with breakout potential.
Of all the big technology companies, it may emerge as the biggest beneficiary of coronavirus thanks to its cloud-computing, business software and videogaming.
Last week’s earnings report beat across the board, but MSFT didn’t move much because it’s been trapped in a bullish ascending triangle....
The S&P 500 is coming under pressure as we enter May. The old adage “sell in May and go away,” worked last year, but this month has mostly been positive since 2013.
There are obviously much bigger issues now than typical seasonality, especially after April’s huge bounce. The bulls have priced in significant recovery for the market, which creates the risk of...
Advanced Micro Devices was the top-performing member of the S&P 500 in both 2018 and 2019. Its last earnings report on April 28 was very middle-of-the-road. Results beat, and then management tried to talk down demand. Other chips like Intel and Qualcomm have struck a similarly cautious tone.
However, investors know some positives lay in the future. They may see...
Only 11 days remain until Bitcoin’s halving event, and now the price is starting to move. BTCUSD had textbook breakouts on both the hourly and daily charts overnight.
Prices spent almost a week trapped below the $7,400 - $7,800 range, a key zone from the consolidation period of March 9-11.
The crypto giant formed a classic bullish triangle, making higher lows as...
Apple's range is tightening with earnings due on Thursday afternoon. Is a breakout coming?
The iPhone maker has stayed above its 8-day exponential moving average since the market jumped back to life on April 6. There were a few tests below it, but now that line is squeezing up to the top of the recent range around $288.25. It’s also near the 100-day simple...
Tesla turned before the rest of the market, and quickly doubled from its low. Now the electric-car maker is parked above a key level, making traders wonder if it may accelerate higher.
TSLA bottomed on March 18 , four sessions before the S&P 500 capitulated. It also passed above its 50-day simple moving average (SMA) on April 14 and has remained there, even...
