Home Depot rallied after a strong earnings report last week, and now has pulled back.
The main pattern on today’s chart is the high-volume bullish candle following quarterly results on August 16. The home-improvement chain jumped to its highest level in almost five months, only to stall and drop for five straight days. It then tested a weekly low above $303...
Amazon.com jumped last month. Now after a pullback, some traders may return to the e-commerce giant.
The first pattern on today’s chart is the price gap on July 29 after revenue beat estimates. AMZN continued higher through mid-August but has now eased back to its price area on the high-volume bullish day.
The level in question is also near the split adjusted...
Ethereum’s key upgrade to proof of stake is slated for next month. It’s a good time to review the No. 2 cryptocurrency’s technicals.
The first pattern on today’s chart is the sharp pullback from above $1,900 toward the $1,600 area. This brought price back to the 50-day simple moving average (SMA). Some investors could view this as a positive sign.
Second, the...
Alibaba has been sliding for more than a year, and trend followers may see reasons to expect more downside.
The main pattern on this daily chart of the Chinese e-commerce giant is the series of lower highs since July 8. BABA has managed to hold support around $88 this month. The result could be a descending triangle, a potential sign of bearish...
The stock market has bounced sharply in the past month, but Meta Platforms hasn’t followed.
The main pattern on today’s chart is the steady succession of lower highs. While the Nasdaq-100 behaved similarly in April, May and early June, the index broke its downtrend by making higher highs in the last two months.
META, in contrast, hit $183.10 before rolling over...
Tesla rallied more than 50 percent from its lows of the year through earlier this week. But now it may be running out of juice.
The main pattern on today’s chart is the price area around $939. It was the opening price on May 5 before TSLA knifed under its 200-day simple moving average (SMA) and proceeded toward $600. Price touched that level on August 4 without...
Health Care stocks have moved sideways for more than a year, but now they could be showing signs of life.
The first pattern on this daily chart of the Health Care Select Sector Index (SIXV) is the 1264 level. It was near the highs of May and early-June 2021. Prices bounced there several times between October 2021 and May 2022 before knifing below in June (along...
Monster Beverage rallied steadily between March and July. It then fell sharply, which may create opportunities for dip buyers.
The first pattern on today’s chart is the pullback to the 200-day simply moving average (SMA) on August 9. Notice how buyers defended the level, creating a potentially bullish hammer candlestick.
This could be noteworthy because it was...
Does anyone remember Netflix? After losing three-quarters of its value between November and May, the streaming-video stock may be trying to claw its way back.
The first pattern on today’s chart is the bearish price gap on April 20 after the business unexpectedly lost subscribers. NFLX drifted for months after the selloff but is now inching back toward that area....
Solar stocks have outperformed lately as investors react to high oil prices and the green-energy movement. Today we’re looking at SolarEdge Technologies , the No. 2 company in the group by market cap behind Enphase Energy .
The main pattern on the chart is the falling trendline that began in November and ran along the highs of April and most of July. SEDG...
Sociedad Quimica y Minera is a Chilean fertilizer company reinventing itself as a lithium provider. Today we’re looking at some potentially bullish patterns as it squeezes back toward triple digits.
First are the pair of strong earnings reports on March 2 and May 19. The initial headline lifted SQM above its previous all-time high from July 2011. The second one...
The Philadelphia Semiconductor Index ripped about 29 percent between early July and early August, but now it may be showing signs of fatigue.
The first pattern on this chart is last Thursday’s peak of 3087 -- slightly below the early June high of 3159. That lower high is potentially noteworthy when compared with the broader Nasdaq-100, which pushed above the...
The Nasdaq-100 has been climbing for weeks and just finished its best month since April 2020. Will it stall and roll over like in April and early June, or is it different this time? Today’s chart shows some reasons to feel potentially more constructive about the current activity.
The first pattern is the price zone around 13,000. NDQ bottomed near this area in...
Energy stocks have dominated the market this year, but now the biggest of the bunch is showing signs of weakness: Exxon Mobil.
The first pattern on today’s chart is the jump following strong quarterly results on July 29. While that may have been impressive, it soon faded – a potential sign of marginal selling.
Next, the peak was below the $97.77 level where XOM...
Micron Technology hit a new 52-week low in early July, followed by a tepid rebound.
The first pattern on today’s chart is the 50-day simple moving average (SMA). MU is only now returning to this line -- despite broader market being above the 50-day SMA for two weeks. That’s a sign of relative weakness. Could it also make trend followers expect a continuation of...
Visa has trended steadily lower for the past year, and now some patterns may suggest that another peak has formed.
The first item on today’s chart is the attempted rally on July 27 following better-than-expected earnings. It looked like V could stay green for about half the day, but then it knifed down on heavy volume. The resulting higher high and lower low...
Bank of America had relief rally in the second half of July, jumping from a 52-week low under $30. Now some traders may think it’s overbought.
The main pattern on today’s chart is the declining 50-day simple moving average (SMA). The recent surge brought BAC back to the line for the first time since late February. Trend followers may now look for the bearish...
Most Chinese stocks remain well below their 52-week highs, but not Li Auto.
Let's consider some of the patterns on the Beijing-based maker of electric cars and SUVs.
First you have the level around $33. It was the opening price on December 3 when news of Didi's delisting hammered Chinese stocks. LI briefly retested it on January 3 before stalling and proceeding...
