I scan primarily for stocks with a combination of positive price momentum as measured by the Relative Strength Index (RSI) and positive money flow momentum as suggested by the Chaikin Oscillator. You can scroll through the “Chart School Technical Indicator” section of Stockcharts.com for information on these two indicators. Then from that list I drill… Read More »
Funny fundamentals often translate to tricky technicals.
Workday (WDAY) rallied over 65% from its November 2018 lows to its March 2019 high. Since then it has been consolidating in a lateral triangle pattern. Support is situated in a zone between $177 and $175, and resistance is being supplied by a downtrend line drawn off the 2018 highs. Last week Workday shares tested… Read More »
Happy 95th Birthday to one of the great minds of modern physics, Professor Freeman Dyson! Professor Dyson has authored many books, but my favorite is his most recent, “Maker of Patterns: An Autobiography Through Letters.” It is a fascinating accounting through correspondence with his family, of a life well lived.
A follower on Twitter suggested we take a look at the Alibaba Group (BABA) chart. The stock is in a severely oversold condition and diverged sharply from its Amazon (AMZN) counterpart. The weekly chart shows just how much selling the stock has experienced after making a June high this year. Since then it has retraced… Read More »
The SPDR Gold Shares ETF (GLD) have been tracking steadily lower for the last six months. There have been attempts to stabilize along the way, but they all failed and the erosion in the precious metal continued. Over the last month, however, the ETF has stabilized and formed a pattern on the daily chart which… Read More »
Bitcoin is nearing an intersection of key resistance. The integrity of this level could determine the intermediate term direction of the cryptocurrency. The trend for the last month has been lower. A steady series of lower highs and lower lows can be seen on the daily chart. They have delineated a well-defined downtrend line that… Read More »