Shares of eBay are up 35% from their December low. They have recovered about 50% of their sharp decline in 2018. But over the last several weeks a bearish reversal pattern has formed on the weekly chart. It suggests an intermediate term top is in place. The eveningstar is a three-period bearish reversal pattern. It… Read More »
The SPDR Gold Shares ETF has had a propensity to trade in large triangle patterns on a long term timeframe. Since, early 2014 the fund has been rising in a complex triangle pattern. That is, one smaller triangle that formed in 2017 to 2018 situated within a larger multi-year triangle that began in 2014. This… Read More »
We saw some signs of life on the Apple (AAPL) chart yesterday. The stock price was only up fractionally, but the close was near the high of the day. This formed a strong looking bullish marubozu candle on the daily chart. The marubozu candle is one with no or very little upper or lower shadow.… Read More »
Activision Blizzard (ATVI) shares have collapsed since the October 2018 high. They retraced more than half of their incredible rally off the 2015 low. The weekly chart shows Activision’s heroic rise and its sudden reversal. The company is reporting earnings after the close today and may announce plans to layoff workers because of slowing sales.… Read More »
Here is a quote from a Zero Hedge article posted on Sunday morning citing a Reuters report of further job cuts at Tesla: Following the latest round of job cuts that Tesla announced to start off 2019, the North America delivery division is seeing the most drastic impact. Reuters reports that the most recent jobs… Read More »
Thanks, once again, to Jim Cramer and his terrific staff for the opportunity to be featured on the “Off the Charts” segment of Mad Money. Cramer: Charts suggest investors ‘can afford to be cautiously optimistic’ from CNBC.
In 2017 and through the first half of 2018, Apple (AAPL) shares found support and resistance in areas that, after the October 2018 high was established, turned out to be future Fibonacci retracement levels. These levels on the weekly chart are measured off the 2016 low and the 2018 high range. In the months that… Read More »