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Tesla has obviously been a major growth stock in 2020, but the chart may be showing some fatigue 12 months after its blistering rally began.
First and most important was the muted reaction to Wednesday’s better-than-expected quarterly report. The biggest takeaway seems to be concern about another capital raise more than the results. After all, TSLA has yet to...
Marvell Technologies has been one of the better-performing chip stocks this year. It’s up 52 percent in 2020, while the Philadelphia Semiconductor Index has gained just 28 percent.
MRVL broke out in May, well before most others. It spent the next four months in a long consolidation pattern, grinding higher but not really breaking out. That is, until ripping...
Precious metals surged earlier in the year as Covid-19 hammered the economy. They’ve snoozed the last few months but could now be setting up for further gains.
The main feature on VanEck Vectors Gold Miners ETF is its broad triangle forming since the summer. It hasn’t broken out yet, but is worth watching.
Next, GDX has found support at its 100-day simple moving...
Recent weeks have seen hot and cold action in the S&P 500: Big up candles (October 5, 12) followed by painful hemorrhaging lower (October 13, 14 and 19).
Let’s review some key things that have happened.
First, we need to focus on 3425. This level was resistance in Labor Day week and remained a painful barrier for the next month – especially on October 6 when...
Bitcoin started moving on October 8 after Square made a $50 million strategic purchase.
Since then, BTCUSD has proceeded to pull off several feats.
First, it took out the mid-September high of $11,183 on October 10.
Next, it had a bullish inside day on October 11, followed by a large bullish outside candle on Monday, October 12.
That bullish outside candle...
Last month we covered the breakout in Draftkings . Now its sports-betting rival, Penn National Gaming, may have some potentially bullish patterns.
First is its relationship with the 8- and 21-day exponential moving averages (EMAs). Notice in early August and early September how it squeezed into the 21-day EMA. In both cases it paused there for a few candles, but...
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...
Relative strength is one of the most useful indicators in the market, highlighting when stocks and sectors are outperforming or underperforming a broader index.
Traditional RS compares the percentage change of one symbol over a given time frame and subtracts the percentage change of the S&P 500 over the same period.
This is handy, but it can produce false...
Moving averages are perhaps the most common indicator in the world of technical analysis, highlighting trends over time by smoothing out values.
Because they show direction, moving averages inevitably rise or fall. These changes are often obvious in retrospect, but now they can be spotted as they happen with our MA Speed script.
This indicator calculates one of...
Moving averages are one of the most basic tools for technical analysts. They can be useful for both trend analysis and for mean reversion.
But how can you know when price is historically overbought or oversold relative to a moving average? Distance from MA can help.
This indicator calculates the distance from a moving average as a percentage and plots the result...
Price is never wrong, but sometimes reading it can be tricky.
Movements in the broader market or a sector can distract from a symbol that's been steadily trending in one direction or another. Sometimes the beginning of a move can also be so subtle that it flies under most people's radar.
Price Streak can help overcome these limitations by tracking consecutive...
Volume can help confirm signals we might discover using other methods of technical analysis.
This indicator tracks volume intelligently. Its logic spots above-average turnover and then tests against the price change. BrkVol highlights sessions with heavy volume and directional moves. This can help take out the noise and help confirm the trend.
Tesla is a...