Normally the price of Square (SQ) has been very positively correlated to the price action of the Technology Select Sector SPDR FUND (XLK). But that relationship has broken down since early last month. Even as the broader technology sector has continued to rally, Square shares have been either flat or lower. This week was a… Read More »
Since their sharp decline in March, shares of Boeing (BA) shares have been buffeted by fundamental wake turbulence. But despite the continuing developments in the Boeing 737 Max investigation, the stock has been moving in well-defined ranges. For example, the lower end of the unfilled March gap lower is acting as resistance. It is also,… Read More »
In January this year, the price of West Texas Intermediate Crude and the oil services sector stocks, as represented by the VanEck Vector Oil Services ETF (OIH), both jumped higher. In February their upside trajectories flattened out. Then in March crude prices began to rise again but the services sector lagged behind. This month the… Read More »
Tesla (TSLA) shares took a tumble today after a strong day on Wednesday. This is not what I expected when I outlined my technical take on Tesla, which was featured on the “Off the Charts” segment of Mad Money. It should be noted that Jim Cramer had an opposing viewpoint on Tesla. Technical analysts scan… Read More »
Once again, we were pleased to be invited to contribute to the “Off the Charts” segment of Mad Money on Tuesday night. Jim Cramer and his “Mad Money” team do an excellent job of presenting the charts and our interpretation of the price action. Thanks to Jim and his staff. Here is our take on… Read More »
Lately, Twitter (TWTR) seems to have fallen off the trader radar screens. There has just been less chatter about the stock on Twitter (irony not lost) or in the financial media. No doubt due to the fact the price action in the stock has been muted. This year Twitter has moved in about a $4.00… Read More »
Facebook (FB) shares closed today above the 50% Fibonacci retracement level of the 2018 high and low range. That is a significant technical level but the price action was equally as important. The stock opened near its low of the day and closed near the high of the day – also the high for the… Read More »
Facebook (FB) shares dropped over 40% in the last half of 2018. They bounced back by about the same percentage so far this year. But as most traders know, it takes twice the return to make up for an initial loss. So, the pop in Facebook’s stock price in 2019 only returned the stock to… Read More »
NVIDIA (NVDA) shares have finally broken above the $170 level. They had been trading just below their $170 to $160 range, and made multiple breakout attempts since November last year. This resistance was created by the large gap lower in November, and it remains unfilled. But it looks like NVIDIA is attempting to close it… Read More »
On February 28 we wrote an article entitled “An Optimistic Look At The Apple Chart.” At the time Apple shares were moving sideways in a narrow range, just below the 38% Fibonacci retracement level of the 2018 high/low range. The piece suggested that the stock might be prepared to make a move higher. Over the… Read More »