Palantir Technologies more than doubled between early May and late July. Now, after a period of consolidation, trend followers may return to the software company.
The first pattern on today’s chart is the rectangle between roughly $13.68 and $16. PLTR chopped in this range for almost eight weeks, but closed above it on Friday. That could make some traders think...
Crude-oil futures are having their worst week since March, but some traders might think about buying the pullback.
The first pattern on today’s chart is the price area around 83.50. It represented the peak for CL1! in December and April. It’s also near the spot where prices stalled in early August before continuing higher in early September. Black gold is now...
Uranium miner Cameco ran to new highs in August and September as prices increased for the nuclear fuel. Now, after a pullback, some dip buyers may get active.
The first pattern on today’s chart is the $35.16 level where CCJ closed at the end of July. It continued to serve as resistance in the first half of August, but then became support after prices broke out on...
Tesla reported unimpressive deliveries for the third quarter because of factory downtime. However, the EV maker’s big news might not be in the past, but the future.
There has been growing buzz about TSLA’s Cybertruck being released soon. (Reports like promotional materials being created and more Cybertrucks spotted in public.) This may pave the road to the upside...
Warner Bros. Discovery spent much of 2023 in a tight range, but now it could be moving again.
The first pattern on today’s chart is the series of higher lows between December and late August. The media company began September by moving under the line, and has shown signs of trending lower since. Some chart watchers may now view that price action as the breakdown...
The SPDR S&P Bank ETF dropped sharply in March because of elevated Treasury yields. It’s been quieter recently with the 10-year marching to new long-term highs, but will that last?
The first pattern on today’s chart is the series of higher lows between early May and mid-August. KBE proceeded to make a lower high after breaking that trendline and has made lower...
The S&P 500 has been skidding lower since late July, but now there may be signs of a bottom.
The first pattern on today’s chart is the falling channel along the highs of September and the lows of August and late September. SPX seems to be holding the bottom of this corrective formation.
Next, consider the price action in early June after Congress voted to raise...
Palo Alto Networks has been chopping near record highs since the spring. Could it have a strong yearend?
The first pattern on today’s chart is the bullish gap on August 21 after quarterly earnings beat estimates. The cybersecurity stock subsequently pulled back to a closing low of $227.45 before bouncing. It retreated again in recent weeks but managed to hold the...
Borrowing costs are back in focus after Jerome Powell & Co. made some hawkish revisions to next year’s Dot Plot. How high might they go? Today we’ll ponder that question using a long-term monthly chart of the 10-year U.S. Treasury note’s yield.
The first pattern is the falling trendline that began way back in 1985. TNX ripped through that level 17 months ago,...
Discover Financial Services has come under pressure since the summer, and traders may see risk of further downside.
The first pattern on today’s chart is the pair of high-volume bearish gaps. The first occurred on July 20 after earnings missed estimates. The second occurred on August 15 after its CEO unexpectedly left the company. DFS failed to recoup either...
Indexes of big companies like the S&P 500 and Nasdaq-100 neared record highs in July, but not the small cap Russell 2000. Today we’ll use a weekly chart to consider how it’s leading to the downside.
The first pattern is the series of lower highs starting in August 2022. RUT unsuccessfully tested that area in January and again in July, which could suggest it’s...
Nvidia is on pace for its worst month in a year, but some dip buyers may see opportunity in the semiconductor giant.
The first pattern on today’s chart is the 100-day simple moving average (SMA). NVDA has been holding that line since Thursday, one session after the Federal Reserve hammered the stock under $410. It was the first test of the SMA since early...
Chinese e-commerce giant Alibaba had a big drop about two years ago. Now, after a long period of consolidation, the bears may look to return.
The first pattern on today’s chart is the combination of the 50- and 200-day simple moving averages (SMAs). They’ve mostly drifted sideways since March. The faster SMA has attempted “Golden Crosses” above the slower SMA...
The "3-day rule" is a basic principle that suggests traders should wait for the third day after a drop to consider entering a stock. That concept may now apply to e-commerce giant Amazon.com.
The first pattern on today’s chart is the gap lower on Thursday, one session after the Federal Reserve hammered sentiment with its "higher for longer" message. Notice how...
Crude oil has been running since early summer, but there may be signs of a top.
The first pattern on today’s chart is the “shooting star” candlestick on Tuesday. Prices climbed to their highest level of the year before reversing lower. They dropped further on Wednesday, confirming the potentially bearish reversal pattern.
Second, CL1! has been at the top of its...
Veeva Systems has been chopping higher since the spring. Now it may be offering an entry for dip buyers.
The first pattern on today’s chart is the rally after earnings and revenue beat consensus on August 30. VEEV is trying to stabilize at a 50 percent retracement of the move. If it succeeds, it could suggest an uptrend is in effect.
Second, the current price...
Uber Technologies has consolidated for the last two months, but some traders may think it’s still driving higher.
The first pattern today’s chart is the basing pattern that began in August. UBER managed to remain above its July low, even as the broader market tested levels from June. That may reflect relative strength and indicate it’s under accumulation.
Second...
Vertex Pharmaceuticals has been quietly sitting near record highs, and now some traders may look for movement to the upside.
The first pattern on today’s chart is the tight consolidation pattern since early August. VRTX barely fell despite a steeper pullback in the broader market -- a potential sign of relative strength.
The narrow range also pushed Bollinger...
