Artificial Intelligence (AI) has become a big theme recently. Let’s take a look at Samsara, a newer company with potential exposure to the trend.
The first pattern on today’s chart is the price level at $17.49 where IOT peaked last August. Notice how the stock paused below the zone on March 2, and then ripped higher after quarterly results beat estimates....
Ford Motor has been conspicuously weak since the summer – despite months of the broader market attempting to rally. Now with anxiety spreading toward the economy and financial system, the automaker could be showing signs of continuing lower.
The main pattern on today’s chart is the series of lower highs since August. Each time, the stock has proceeded to hold...
This month’s banking crisis dragged many cyclical assets lower as investors worried about a possible recession. Today’s weekly chart considers the impact on crude oil futures.
The first pattern with potential relevance is the $65 price area. CL1! bounced at this level in mid-2018 before breaking lower. Crude peaked there again in 2019 and early 2020 – shortly...
Tesla more than doubled between January and mid-February. It retraced almost half that move last month and is now trying to bounce. Will the move continue?
The first pattern on today’s chart is the 50-day simple moving average (SMA), which the electric-car maker tested and held at the start of last week. The 50-day SMA is also rising for the first time since last...
The past week’s selloff in banks has inflicted some punishment on the broader financial sector. But how severe is it? Will the crisis become an opportunity for patient buyers?
Today’s chart of the SPDR Financial Select Sector Fund might help answer those questions. It uses weekly candles to help provide a long-term perspective.
The main pattern with potential...
Everyone’s been so focused on the banks lately that they might have missed some potentially bullish happenings on the Nasdaq-100.
The first pattern on today’s chart is the 21-day exponential moving average (EMA). Other big indexes like the S&P 500, Dow Jones Industrial Average and Russell 2000 are well below the same lines on their respective charts. But the...
Chinese Internet stock Baidu more than doubled between November and early February. Now some traders may be eying its current pullback.
The first pattern on today’s chart is the $131 area. It was a low on February 24 and again last week.
Second, the 50-day simple moving average (SMA) had a “golden cross” above the 200-day SMA on February 8. That may suggest...
Semiconductors have outperformed lately as investors get excited about demand from artificial intelligence (AI). Today’s chart considers equipment supplier Lam Research.
The first pattern is the rising 50-day simple moving average (SMA). LRCX has consolidated in a tight range around that line during the last three weeks, a potential sign the intermediate-term...
Cisco Systems jumped on a strong quarterly report last month. However there’s been little follow-through, which could make some traders feel bearish.
The first pattern on today’s chart is the bullish price gap on February 16 after earnings, revenue and guidance beat expectations. Unfortunately for the bulls, CSCO’s high occurred just 19 minutes after the opening...
Snap has been rallying as lawmakers move against TikTok, but traders may be selling the news.
Today we’ll consider the daily chart of the social-media company, which has struggled since growth names hit the wall over a year ago.
The first pattern is the jump above $12.50 on Tuesday, fueled by the news from Capitol Hill. SNAP failed to hold those gains, resulting...
Target has limped after plunging 10 months ago. Now it may be showing signs of another push to the downside.
The main pattern on today’s chart is the bearish price gap on May 18. (Results missed estimates and management gave a bleak outlook.) TGT has failed to reclaim that drop, which may reveal little optimism about a comeback.
The retailer has also remained...
Industrial stocks have outperformed in the past month. Today’s chart examines a big name in the sector: farm-equipment maker Deere.
First consider the high basing pattern above $400 so far in 2023. It’s a higher low than the troughs of July and September, potentially establishing new support near the previous all-time high from last April.
Next, DE was...
Nike pulled back along with the rest of the market last month. Is it creating opportunities with quarterly results later in March?
The first pattern on today’s chart is $116.75. It was the low a year ago and near the high in mid-August. NKE paused there in December before continuing toward $130. The athletic-apparel stock is also bouncing above the same zone...
Exxon Mobil has steadily advanced for more than a year, and its current pullback may interest trend followers.
The first pattern on today’s chart is $104.76, XOM’s previous all-time high from 2014. Notice how this level was resistance for the energy giant last June, followed by an October breakout. Prices probed and held the same area in December and January. Has...
The S&P 500 has endured its sharpest decline of the year. Is it a healthy pullback, or the start of a new bearish leg down?
This chart considers a few patterns that might help answer that question.
First, the index fell as low as 3943 last Friday. It was below the 50-day simple moving average (SMA), but it quickly snapped back. Some technical analysts may view...
Uber Technologies rallied sharply between late 2022 and early February, but it could be showing signs of exhaustion.
The first pattern on today’s chart is the price action on February 8. UBER jumped on strong quarterly results but failed to hold early highs. It then swung wildly, creating a potential “hanging man” candlestick. That’s a potential reversal...
Diabetes company DexCom has consolidated for about four months, and now it could be trying to move again.
The first pattern on today’s chart is the bullish candle on February 10 after earnings beat estimates. It followed a similar rally on October 28, suggesting that investors are pleased with its fundamental performance.
The earnings surge established DXCM...
Marathon Oil has staggered along with other energy stocks in recent months, and now traders may see risk of a selloff.
The first pattern on today’s chart is the series of lower highs since mid-November while prices bounced at or near $26. A potentially bearish descending-triangle pattern has been the result.
Second, consider how that triangle began soon after...
