Tesla has been one of the biggest growth stories in recent history. But now it may be going into distribution.
The first pattern on today’s chart is the bearish outside candle on December 28. The reversal pattern marked a lower high compared with mid-October.
It also began a stretch with prices falling in eight of nine sessions.
The decline left TSLA at its...
Some investors liken the current moment to 1995 because of the potential for a “soft landing” after a bout of inflation and interest-rate hikes. Can technical analysts also find things in common?
Today’s S&P 500 charts consider some potential similarities between the start of the late-1990s bull market and the situation in January 2024.
The first pattern is the...
Adobe rallied in the spring on AI optimism. It continued higher in the fourth quarter before pulling back, and now dip buyers may get active.
The first pattern on today’s chart is the price zone between roughly $560 and $570. The software company peaked there in September and October, but is now trying to hold it. Has old resistance become new support?
Second,...
UnitedHealth has consolidated for almost two years, and now some investors may expect its longer-term uptrend to continue.
The first pattern on today’s chart is the basing pattern over the course of 2023. Notice the lower lows in the first half, followed by higher lows in the second half. That may suggest buyers have regained control since the summer.
Second,...
Negativity has mounted in Apple since the year began, but some traders may think it will bottom soon.
The first pattern on today’s chart is the price area between $180 and $184. That roughly corresponds to the peak in early 2022 and some highs last September and October. Will the old resistance become new support?
Second, the 200-day simple moving average (SMA)...
Paycom Software has rebounded after a big drop, and now some traders may expect further downside.
The first pattern on today’s chart is the November 1 bearish gap after earnings and guidance missed estimates. (The 38 percent drop that day was the biggest in PAYC’s nine-year history as a public company.) It was the second consecutive downside gap on...
Eli Lilly spent the fourth quarter consolidating gains, and now trend followers may expect further upside.
The first pattern on today’s chart is the falling trendline along the peaks of November and December. Prices tried to fight above that resistance yesterday, creating potential for a breakout.
The pharma giant also pushed above its 50-day simple moving...
Walt Disney has trended lower since mid-2021. Now, after 18 months of consolidation, some traders may see further downside risk.
The first pattern on today’s chart is the November 24 peak at $96.51. That closely matched April’s monthly low. Has old support become new resistance?
Next you have the lower highs as prices try to hold the November 14 close of $91.07....
Microsoft has paused this month as the Nasdaq-100 climbs to new highs. However, some chart watchers could look for the software giant to come off the sidelines.
The first pattern on today’s chart is the December 1 close of $374.51, which became resistance. A daily close above this level may confirm a potential breakout.
Second is the series of higher lows since...
Cigna isn’t usually a very interesting stock. However, it jumped last week and some traders may see the potential for more upside.
The first pattern on today’s chart is the bullish gap on December 11 after the health insurer cancelled its planned merger with NYSE:HUM Humana. (Management will instead spend $10 billion on stock buybacks.) Share volume hit the...
Textron has pushed old highs since the summer, and some traders may see potential for further upside.
The first pattern on today’s chart is the $74.81 level, the highest weekly close in the first half. Strong earnings drove the aerospace stock above that level in late July. It tested that price area each of the next four months, and kept closing above it. Has old...
Super Micro Computer enjoyed a major surge in mid-2023 thanks to the AI boom. Now after a period of consolidation, some trend followers may expect further upside.
The first pattern on today’s chart is the series of lower lows between August and late October, followed by higher lows in November and December. That high basing formation may suggest buyers are active...
The U.S. Dollar Index started falling early last month, and price action around yesterday’s Federal Reserve meeting may confirm its downtrend.
The first pattern on today’s chart is the 104 price area. DXY tried to hold that level in mid-November as it slid toward 102.5. The currency rebounded to stall at the same location last week. If old support became new...
Netflix rallied sharply between mid-October and late November. Now, after a pullback, some traders may expect further upside.
The first pattern on today’s chart is the September closing high of $448.68. NFLX held that level last week. Has old resistance become new support?
Second, the price area matches a 50 percent retracement of the trendline breakout that...
American International Group had one of the biggest drops during the Global Financial Crisis. Now, after 15 years in the penalty box, the former Dow member could be fighting back.
The main pattern on today’s chart is the January 2017 peak of $67.47. It remains AIG’s highest level since October 2008 -- one month after the insurance giant lost about 90 percent of...
DraftKings spent four months digesting a strong first half. Now after a rally and pullback, traders may see more upside in the sports-betting stock.
The first pattern on today’s chart is the August peak of $34.49. Strong earnings propelled DKNG through that level in the first half of November. It continued higher and pulled back, but is now trying to bounce in...
MongoDB almost tripled between November 2022 and November 2023. Now some trend followers may see opportunity in its latest pullback.
The first pattern on today’s chart is the falling trendline along the peaks of July and September. The software company broke it about a month ago and is now probing the line from above. Will old resistance become new support?
The...
Meta Platforms has moved sideways since the summer, but traders may now expect more upside.
The first pattern on today’s chart is the 50-day simple moving average (SMA), which META broke as it started rallying a year ago. Prices remained above the SMA through August, followed by a period of consolidation on either side of it through late October. The social media...
