Occidental Petroleum is the top performing member of the S&P 500 so far this year with a gain of 122 percent. It's drifted in the last few months, but now some interesting patterns may be appearing on the chart again.
First is the tight consolidation at the 50-day and 100-day simple moving averages (SMAs). OXY has remained close to both following its big rally in...
Most members of the S&P 500 closed lower on Friday. Today we’re looking at one of the gainers: American Tower.
A few interesting patterns appear on this daily chart of the wireless-tower operator.
First is the narrowing consolidation between the 50-day simple moving average (SMA) and 200-day SMA. Bollinger Band Width has tightened to its closest range since...
General Mills has been a slow mover for years, but the Cheerios maker has gotten more interesting lately.
The main pattern on today’s chart is the June 29 rally above $73. That was not only a new 52-week high. It was also a breakout above the previous all-time peak in July 2016.
Next, consider how GIS pulled back and held the level yesterday. Has old resistance...
The Nasdaq-100 is hitting its highest prices in over a month. Now could be a good time to review some patterns on the tech-heavy index.
Aside from simple levels, NDQ is above its 50-day simple moving average (SMA) for the first time since April 7. That could suggest a change in this year’s bearish trend.
Second, you have the series of higher lows since mid-June....
Procter & Gamble (PG) fell sharply two months ago. Now, after a rebound, it could be struggling.
The first pattern on today’s chart is the big drop on May 18 after Target’s (TGT) weak quarterly report hammered retailers. PG rebounded toward $149 before making a new 52-week low under $130. It then retraced most – but not all – of the drop. The result was a...
Home Depot could be attempting a breakout as investors await key industry data.
The main patterns on today’s chart are the falling trendline and the 50-day simple moving average (SMA). HD is attempting to push through both.
This is especially interesting because TradeStation data shows fewer than one-third of S&P 500 companies are above their 50-day SMAs. The...
Sometimes in a bear market a handful of stocks remain closer to their highs before rolling over. Amgen (AMGN) could face such a condition.
The main pattern on today’s chart are the candlesticks of July 8, 11 and 12. The drugmaker attempted to push above $249 but each time closed below that level. Also notice how this price area roughly matches the closing price...
Solar energy has been one of a few bright spots in this bearish market. Today we’re looking at the company in the group with the largest market cap: Enphase Energy (ENPH).
The first pattern on this daily chart is the uptrend since mid-May -- the opposite of the broader market’s price action. In fact, ENPH hasn’t made a new 52-week low in 117 sessions. (The S&P...
A certain pattern has appeared several times in the S&P 500 over the past year. Now it may have returned.
Consider the falling trendline on this daily chart. Notice how the current price action resembles moments like October 2021, March 2022 and May 2022.
Each time the index pulled back and stabilized. It then pushed against resistance as the Relative Strength...
A painful half is finished for the Nasdaq-100. Now there could be signs of a turn.
The first pattern on today’s chart is the 11,069 level. NDX peaked in that area in July 2020 and bounced there 3-1/2 months later. The index returned to hold the same support in mid-June 2022.
Second, notice how prices held about 2.6 percent above that low in the past week....
Amazon.com has retraced almost all of its pandemic gains. Is this an opportunity for buyers? Let’s consider some chart patterns.
First is the $101.79 level (split adjusted). It was a peak in July 2019 and a breakout area immediately before the coronavirus selloff in early 2020. AMZN probed that zone in late May and again in mid-June, each time managing to rebound...
Soaring inflation and bond yields have hammered sentiment all year. But now there could be signs of yields peaking.
A few patterns appear on this chart of the 10-year Treasury yield. First is the October 2018 high of 3.248 percent. TNX jumped above that level for six sessions before rolling over. It tried it again on June 28, but failed. That lower high may...
The broader market has been super volatile lately, which makes the tranquil behavior of one retailer interesting: Dollar Tree.
Notice how the discounter plunged on May 18 after Target’s poor quarterly results. Also notice how quickly it rebounded after its own quarterly numbers handily beat estimates on May 26. The stock has barely moved since then – despite...
Energy, energy, energy: It’s been the manta of 2022, so let’s take a look at Exxon Mobil.
Earlier this month, the oil-and-gas giant hit triple digits for the first time in almost eight years. As noted at the time , prices were extended and a pulled back sharply. And now they’re bouncing.
The main pattern on this chart is the falling trendline along the highs...
If the last 11 months in the market has taught investors anything, it’s that rising interest rates can drag on high-multiple growth stocks. That was especially true for recent initial public offerings, but things might be changing.
This chart shows the Renaissance IPO ETF with weekly candles. It has the rate of change indicator set to one-period intervals, making...
Vaccine developer Moderna had a dramatic rally in 2021, at one point more than quadrupling from its low to high. Now, after an equally dramatic pullback, it may be flashing some interesting signs to the bulls.
The first pattern on today’s chart is the $117.34 level. MRNA held that price in late March 2021 and again this month. That may suggest old support remains...
Many chart watchers are focused on the S&P 500’s pre-Covid peak around 3393 as potential target for the current bear market. However, the index might have held a different level from another key moment in its history.
This chart highlights the 3646, which was the intraday high on November 9, 2020. In case you forgot, that was the day stocks broke out to new...
The greenback has been running for over a year, and it could remain in focus with Jerome Powell testifying on Capitol Hill today.
The main pattern on today’s chart of the U.S. Dollar Index is the 103.82 level. That’s where DXY peaked in January 2017, essentially marking the top for the entire post-2002 period.
Prices first challenged that resistance six weeks...
