Megacap growth stocks like Nvidia have outperformed for years. But traders looking for the trend to change may see more evidence of a shift.
Today’s idea considers three charts. The first shows how Nvidia (NVDA) rallied 93 percent this year above its previous record high. It also highlights the big price swing on Friday as the chip giant made a new record high...
Verizon Communications has rallied since late October, and some traders may think its uptrend is fading.
The first pattern on today's chart is the pair of bullish gaps on October 24 and January 23 after strong quarterly reports. Notice how prices continued higher after the initial surge, but faded after the second move. That may suggest improved fundamentals are...
Capital One Financial rallied to a 21-month high in late January and paused during February. Now some traders may see upside potential in March.
The first pattern on today’s chart is the series of higher lows with prices remaining below its January 26 close. That ascending triangle is a potentially bullish continuation pattern.
Second, the 8-day exponential...
Royal Caribbean Cruises has spent more than two months consolidating, but it may be getting ready to move again.
The first pattern on today’s chart is the trendline along the closes of December 28 and January 31. RCL ended yesterday above it, which could make some traders think the stock is breaking out.
Prices are also pushing above their 50-day simple moving...
Treasury yields have had a big impact on stocks since the Federal Reserve started hiking rates in 2022. Now one of the biggest charts in that market might have done something important.
Today we focus on the 10-year Treasury note’s yield, measured by the index TNX.
The first pattern is the 4.324 percent level. It was a peak in June 2008 and again last August....
The late 1990s saw one of the most famous bull markets of all time. Are there comparisons between that historic moment and today?
Today’s idea attempts to answer that question with three indicators.
First is Wilder’s Relative Strength Index (RSI), which remained above 50 throughout almost the entire calendar year of 1995. Similar moments in history marked the...
Caterpillar broke out to new highs a month ago, and now some traders may think an uptrend is in place.
The first pattern on today’s chart is the close on January 25. It was slightly above $300 and the previous record close on December 27. CAT consolidated above that level for the following week, potentially reflecting investor comfort with the new highs.
The...
Affirm ended 2023 with a sharp rally. Now, after two months of consolidation, some traders may look for further upside.
The first pattern on today’s chart is the $36.12 level, a weekly low from early December. The buy-now-pay-later stock has tested and held that price, which may suggest that buyers are lurking.
Second is the falling trendline that began at of...
Material stocks have been stuck in a tight range since the bear market began almost two years ago. But they could be showing signs of a potential breakout.
The first pattern on today’s chart of the AMEX:XLB Materials Select Sector SPDR ETF is Friday’s last print of $86.83. It was the highest weekly close since May 2022. That may suggest that investors are...
Jefferies Financial has been a tight range near old highs, and some traders may expect a breakout soon.
The first item on today’s chart is the ascending triangle since 2024 began. The investment bank was initially trapped under $41, but more recently has pushed above that level. Is it breaking the continuation pattern to the upside?
Second, JEF is near the...
Unlike many big Nasdaq-100 companies, Netflix is below its 2021 high. Could that change for the streaming giant?
The first pattern on today’s chart is the pair of bullish price gaps after the two most recent quarterly reports. The upward moves may reflect confidence that the company’s fundamentals are improving again.
Second, NFLX made a higher high last week...
Tesla has struggled since last summer, and now some traders may see further downside risk.
The first pattern on today’s chart is the bearish gap on January 25 following weak results and guidance. The EV maker has remained under the preceding low. Has new resistance formed below old support?
Second, TSLA was rejected at $200 on February 16. The resulting hanging...
Halliburton has been sliding since mid-October, but there could be signs that the energy-services giant has bottomed.
The first pattern on today’s chart is last week’s bounce around $34, about $1 above the mid-January trough. Such a higher low could indicate that a downtrend is ending.
Second, combined with the price action in the first half of December, a...
Alphabet has climbed for the past year, but now its uptrend may be at risk.
The first pattern on today’s chart is the late-January failed breakout above the November 2021 high of $150.97.
GOOGL then fell and held the bottom of a rising channel and its 50-day simple moving average. It bounced and returned to close back under those lines last week. Is the uptrend...
Goldman Sachs has gone nowhere for two months, but some traders may look for that to change.
The first pattern on today’s chart is the $374 level. It was a weekly closing price from January 2023 that GS remained below through late December. The stock rallied above it at the end of last year and has remained there since. That could suggest old resistance has...
Huntington Bancshares isn’t an actively traded name, but its chart may have some potentially interesting patterns this week.
First is the level around $12.19, its highest weekly close last summer. HBAN jumped above that price in mid-December before testing it in January and again this month. Old resistance may have become new support.
Second is the series of...
Gold has traded in a tight range since November, and some traders may see downside risk.
The first level on today’s chart is the recent series of higher lows and lower highs. XAUUSD has broken the bottom of that triangle, which may suggest its consolidation period is resolving to the downside.
Second, the price level around $2,075 marked peaks in July 2020,...
The S&P 500 has closed above its previous highs for three weeks, potentially confirming a new bull market. But Apple is lagging.
The first pattern on today’s chart is the tech giant's candle on December 14. Prices inched above their July peak but closed slightly below it. AAPL then retreated toward $180 and rebounded to make a lower high in late January.
That...
