Delta Air Lines has been ripping since the summer, and some traders may see an opportunity in its latest pullback.
The first pattern on today’s chart is the gap on November 6 after Donald Trump was confirmed as next U.S. President. DAL retraced that move to hold its election-day high on Wednesday. Has old resistance become new support?
Second, prices are trying...
The Federal Reserve triggered violent drops in stocks yesterday and two key charts could be attempting important breakouts.
We first consider the U.S. Dollar Index with weekly candles. There’s a falling trendline along the peaks of October 2023 and late April. DXY rallied through that resistance and turned it into support earlier this month. That may be...
PepsiCo has struggled all year, and some traders may think the food-and-beverage giant is breaking down.
The first pattern on today’s chart is the October 2023 low of $155.83. PEP bounced at the level in November and is now revisiting it. Is support giving way?
Next, the 50-day simple moving average (SMA) recently crossed below the 100- and 200-day SMAs. The...
Merck has struggled for most of the year, and now some traders may look for another push to the downside.
The first pattern on today’s chart is the series of higher lows from mid-November through early last week. MRK has dropped below that line, which may be viewed as a bear-flag breakdown.
Second, prices tested the 50-day simple moving average and stayed below...
Target dropped sharply last month. Now, after a rebound, some traders may see further downside in the retailer.
The first pattern on today’s chart is the bearish gap on November 20 after earnings and revenue missed estimates. TGT stalled last week after retracing half the decline. That may suggest a downtrend is in place.
Second, prices are peaking around the...
The Christmas season is known for three Wisemen following a light in the night sky to Bethlehem. But another, less jovial star may have settled above the House of Morgan.
The first pattern on today’s chart of JPMorgan Chase is the candle on November 25. Prices jumped above $253 in the first five minutes of that Monday morning, but quickly reversed and closed at...
Hewlett Packard Enterprise jumped to a new record high last week, and some traders may see opportunities in this week’s pullback.
The first pattern on today’s chart is the surge on December 6 after earnings and revenue beat estimates. HPE has retraced all the move and is now trying to make a higher weekly low. That may suggest an uptrend is in place.
Second is...
Eli Lilly has been one of the best-performing large-cap stocks in recent years. But now it may be showing signs of stalling.
The first pattern on today’s chart is the bearish price gap on October 30 after earnings and revenue missed estimates. LLY has remained below the gap since, which may suggest that new resistance has been established.
Second, the recent...
Web-acceleration company Fastly hit a record low over the summer, but now there could be signs of a rebound.
The first pattern on today’s chart is the bearish price gap in May after the release of weak guidance. FSLY is now pushing into that gap, which could make some traders see potential for more upside.
Second are the lower lows and lower highs through...
Crude oil has been limping for most of this year, and now some traders may see risk of a bigger drop.
The first pattern on today’s chart is the relentless series of lower highs since September 2023. The trend lines along these peaks have dropped at steeper angles, which potentially reflects increased selling pressure.
The second pattern is the series of slightly...
Nvidia has been mostly quiet since the summer, but some traders may think another move to the upside is coming.
The first pattern on today’s chart is the August high of $131.26. NVDA broke above this level in the first of October and then pulled back to test it in three different weeks. Has old resistance become new support?
Second, the 50-day simple moving...
Oracle has been making new highs since the summer, and some trend followers may see opportunity in its latest pullback.
The first pattern on today’s chart is the October high of $178.61. ORCL ripped above that level after the election, followed by a slide in the last week. It probed near the old high on Tuesday before bouncing. The results were a hammer...
Halliburton has rallied since late October, but some traders may think it’s near a top.
The first pattern on today’s chart is the June low of $32.60. The oil servicer consolidated below that level in August before accelerating downward. It’s now stalling around the same area, which may suggest that resistance is still in effect.
Second, the series of higher lows...
Autodesk has been advancing since the spring. Now some trend followers may see an opportunity in its latest dip.
The first pattern on today’s chart is the bullish gap on November 6 after the Presidential Election. The software company has pulled back to test and hold its levels from before the surge, which may suggest support is in place.
Prices are also trying...
Skechers USA has consolidated since the summer, but some traders may expect a rally this holiday-shopping season.
The first pattern on today’s chart is the August 2 close of $59.45. SKX bounced near that level in September, October, and again last month. Is new support in place?
Second, you have the series of lower highs since September. SKX ended last week near...
Amazon.com jumped to a new record high two weeks ago. Now some traders may see an opportunity in its latest pullback.
The first pattern on today’s chart is the September high of $195.37. AMZN jumped above that level on November 1 after earnings and revenue beat estimates. It was tested the following Monday before prices rallied to new highs. The stock pulled back...
Roblox jumped to a two-year high earlier this month. Now some traders may see an opportunity in its latest pullback.
The first pattern on today’s chart is the bullish gap on October 31 after earnings and revenue beat estimates.
That rally pushed the video-game stock above its September 25 high (also near several peaks since October 2022). Last week, prices...
Qualcomm has drifted since the summer, and now the bears might be stepping in.
The first pattern on today’s chart is the sideways drift that began in August. Following declines in June and July, that series of slightly higher highs and higher lows may be viewed as a bearish flag. Recent moves below the range could also be interpreted as a breakdown.
Second is...
