United Therapeutics spent more than a year consolidating around its 2015 highs. Now the biotech may be attempting a breakout.
Notice the surge to new all-time highs late last month. The rally followed news that the Food & Drug Administration approved its Tyvaso DPI hypertension drug for two applications. (There were worries of a narrower approval.)
UTHR paused...
PC maker HP has held its ground all year as the technology sector tumbled, and now it too may be coming under pressure.
The main pattern on today’s chart is support at $34. HPQ gapped above this level following a strong quarterly report in late November. It bounced there in January, March and late May but never had a daily close below it.
This week, the stock...
U.S. stocks fell into a “bear market” this week. Meanwhile, a new bull market could be starting across the Pacific.
This chart shows the iShares China Large Cap ETF with relative strength compared to the S&P 500. FXI lagged the U.S. benchmark consistently between February 2021 and May 2022. But it’s outperformed in the last month as officials in Beijing lend...
Big pharma names like Pfizer have held up better than most parts of the market, but now the Dow member might be feeling sickly.
The main pattern on today’s chart is the series of higher lows since March 2021 and lower highs since December. These converging trendlines have produced a triangle that PFE appears to have broken to the downside.
Attention could now...
Energy stocks have been ripping all year , but now there’s a potential reversal pattern in the key sector ETF.
The SPDR Energy Fund has made higher lows and higher highs since mid-May, but the lows have ascended more quickly than the highs. The result has been a rising wedge. That’s a potential bearish reversal pattern with highs failing to confirm the...
Nvidia had a sharp countertrend rally two weeks ago, but now the chip giant may be rolling over.
Prices jumped over $183 on May 27. They remained above that level and started making lower highs on June 2. That kind of descending triangle is a potential bearish continuation pattern, which was broken to the downside yesterday.
Second, this month’s high was...
If any word describes Meta Platforms recently, it could be “heavy.”
Notice how the parent of Facebook has made successively lower highs since plunging on a weak quarterly report in early February. It’s hugged the 50-day simple moving average (SMA) since, which provides a clear point of reference for sellers.
Next, the heavy price action is occurring in a range...
JinkoSolar has shuffled in a range for more than a year, but now the Chinese PV stock may be attempting a breakout.
Notice how JKS closed above its November high on Monday and Tuesday. The result? A new 52-week high at a time when the S&P 500 is still 14 percent below its high.
Second, the 50-day simple moving average (SMA) recently rose above the 200-day SMA....
Chinese stocks like Alibaba have been under pressure for the last 1-1/2 years, but now the tide could be turning.
The first pattern on today’s chart is the high-volume bullish gap on March 16 after officials in Beijing took a more supportive approach toward financial markets. Notice how BABA never revisited the prior lows in the two months following the...
Many technology stocks have been in a bear market since last fall, but On Semiconductor seems to have missed the memo.
Notice how the maker of automotive chips barely fell below its 200-day simple moving average (SMA) in April and May. That’s a potential sign of relative strength when you consider that the Nasdaq-100 and Philadelphia Semiconductor Index were...
Micron Technology has held up better than most big technology stocks. Now it could be showing some interesting patterns to the bulls.
First, consider how the memory-chip maker’s low in 2022 is $65.86, or $0.19 above the level where it bottomed in October. In contrast the broader Philadelphia Semiconductor Index recently hit levels from March 2021. MU’s ability...
Bonds have been in a steady downtrend all year. And now, after a period of consolidation, the iShares 20+ Year Treasury Bond ETF may be set to continue lower.
This main pattern on this chart is the modest rebound over the last three weeks. Given the preceding four months of downside, it could be a classic bearish flag. The current drop also represents a potential...
Gold surged earlier in the year as inflation raged and geopolitical worries grew. However bearish things seem to be happening since then.
The first pattern on today’s chart is the March 8 high at $2,070. It was slightly below the August 2020 high of $2,075.28, resulting in a double-top pattern. The long period of time between the two peaks could mean that...
Energy remains the top performing sector this year , and today we’re looking at integrated major Chevron.
Notice the series of higher lows since late April. Combined with the March 10 high of $174.76, they form an ascending triangle. It’s a potential continuation pattern that may open the door to higher levels following CVX’s breakout to new record territory in...
The S&P 500 is mired in one of its longest negative streaks ever, but now there could be signs of a turn.
The first pattern on today’s chart is the potential hammer candlestick on Friday, May 20. It was a brief probe not only to new 52-week lows, but also the official “bear market” line. Prices refused to stay down, resulting in a potential reversal...
Natural gas tanker stock Cheniere Energy has steadily trended higher for more than a year, but it’s effectively gone nowhere for three months. Now it may be getting ready to move again.
The first pattern on today’s chart is the descending trendline that started earlier this month. Next, consider how prices are trying to hold the same $127.75 area where they...
Last week had a couple of days that will live in infamy for retailers like Walmart , Target and Ross Stores. But not Foot Locker.
The shoe retailer managed to beat earnings forecasts despite revenue missing. That suggests margins were strong and management handled inflationary pressures better than larger peers.
Prices briefly jumped above $32.50 after...
Transportation stocks have been unusually strong this year, but that might have changed yesterday.
The main feature on this chart of the Dow Jones Transportation Average is the September low at 13,947. Prices managed to remain above this level throughout the market’s correction as other indexes like the S&P 500 and Nadaq-100 knifed below the same respective...
