Recent months have seen a shift toward cyclical stocks like International Paper, which has some potentially bullish chart patterns.
First, IP spiked to $53.39 on January 6. That was the highest level since September 2018. Such a new high can indicate a stock is under accumulation – especially when it occurs so early in a calendar year.
Second, the materials...
Dell Technologies is a blast from the past. At one point it was one of the top technology stocks, but now it seems to get very little interest.
Still some interesting things are happening on the chart.
First is the pair of bullish gaps after strong earnings reports in May and August.
Next is the ascending triangle that formed since the last gap higher. DELL has...
The Dow Jones is going down, and Covetrus Inc has followed the same pattern. Prices could hit 2 dollars within days. This stock was a spin off and failed long before the overall market dumped. Market is way too high. With the current crisis nobody needs this company.
