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 »
The modest gain in yesterday’s S&P 500 Index was notable. The index closed above the weekly and daily resistance area on our chart at 2832.94, for the first time since October 2018. RightView Trading’s take on the broader market was featured on the February 5th “Off the Charts” segment of Mad Money. At that time… Read More »
Canopy Growth (CGC) shares shot up over 80% last August. The volatility continued over the next several months, forming a series of high wick candles. These candles reflected the stock’s inability to hold new highs. Ultimately it relented and shares pulled back below their 40 week moving average, to where the rally began. A similar… Read More »
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 »
The small-cap stocks have historically led the broader markets. In the past, changes in the direction of the Russell 2000 Small-Cap Index have preceded changes in the direction of the market as a whole. Not always but it has often been the case. So, when a reliable reversal pattern forms on the Russell chart it… Read More »
The major market indices are back to where they were before the alarming December decline and the euphoric December rally. It is important to understand what this means from a supply and demand perspective. Those traders who held long positions through this four month roller coaster ride may be very happy to have recovered their… 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 »
Snap (SNAP), the nine billion dollar emoji application company, reported in-line earnings after the bell on Tuesday and shares soared over 21% in after-hours trading. February has been a great month for Snap since the it became a publicly traded company two Februarys ago. Shares soared about 60% in the IPO week of trading in… Read More »