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Exact Sciences jumped on strong earnings two weeks ago, and some traders may think the oncology stock has further upside. The first pattern on today’s chart is the bullish price gap on May 2 after results beat estimates. Prices apparently broke a falling trendline in the process. EXAS then consolidated before ending yesterday at a three-month high. Is it getting...

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The SPDR Select Sector Energy ETF has been plagued by some long-term negatives, but some traders may see those issues becoming more positive. Today’s idea uses two-week candles to give a long-term view. The first key pattern is the 2023 low of $75.36, which XLE tested and held during last month’s tariff panic. That may suggest support is in place. Second, the...

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Alcoa has been falling since Thanksgiving, but some traders may think the aluminum stock has bottomed. The first pattern on today’s chart is the April 9 high of $26.67. AA was trapped under that level for a month but yesterday it closed above it for the first time. Is the old resistance broken? Second is the series of higher lows during the period of bottoming....

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The VanEck Gold Miners ETF had a major breakout in March, but some traders may think it’s getting fatigued. The first pattern on today’s chart is the series of candles on April 16-22. Those bars occurred at the highest levels in almost four years. They’re also solid, illustrating that price wasn't able to hold the peaks. Second, GDX fell sharply afterwards and...

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Spotify Technology has climbed steadily for several quarters, and now some traders may think it’s ready to extend the uptrend. The first pattern on today’s chart is the new high in mid-February, followed by a double bottom on March 10 and April 7. The resulting W formation may signal continuation of the longer-term advance. Second, SPOT just closed above its...

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Best Buy has rebounded from last month’s sharp drop, but some traders may expect another push to the downside. The first pattern on today’s chart is the price zone between $67.16 and $73.28. That matches the bearish price gap on April 3, one day after hefty tariffs were announced. The electronics retailer’s recent peak has also occurred at its trough last May,...

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This is a conceptual strategy intended for E-mini S&P 500 futures with hourly bars. It uses three signals, going long or short when two or more change in the same direction. First is MACD. A positive oscillator is considered a bullish signal and a falling oscillator is interpreted bearishly. Next, stochastics are used as an overbought/oversold indicator....

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Moving average crosses are popular signals for trend followers. Like many conditions, they tend to reverse after a certain amount of time. Today’s script is designed to help traders visualize and interpret these turns. Bars Since MA Cross counts how many bars have passed since a fast-moving average crossed a slower MA. Bullish readings, with the faster MA above...

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The Relative Strength Index was created by J. Welles Wilder to measure overbought and oversold conditions. It’s also found popularity as an overall measure of direction because upward-trending stocks often hit overbought conditions. The opposite can be true with underperformers. Today’s custom script, RSI Past, attempts to capture this secondary use of RSI as a...

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Many technical analysts use moving average crosses to assess trend changes. A faster-moving MA crossing above a slower-moving line may be viewed as a bullish signal. The opposite can apply to the downside. While these methods may help analyze price direction, they can often force traders to wait until the cross occurs. Sometimes it may be useful to anticipate the...

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There are many price-based techniques for anticipating the end of a move. However, the simple passage of time can also help because bull markets don’t last forever. While old age doesn’t necessarily cause investors to sell, a reversal becomes more likely the longer a trend lasts. So, how long have prices been going up? There are various ways to measure that. Our...

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Moving averages are one of the most common indicators in the world of technical analysis. And they’re often the ingredients of more complex indicators like MACD. Today’s script shows how long prices have been moving in a given direction. Similar to our earlier Price Streak script, MA Streak counts the number of sessions that the average is rising or falling. It...