JBLU has formed a double bottom pattern on the weekly chart. This pattern is formed when price falls to a support level twice, but is unable to break through. The second bottom is typically higher than the first, indicating that buyers are becoming more aggressive. A close below 3.40 on a weekly basis would be a stop-out for this pattern, as it would indicate...
Technical Analysis Description: NYSE:OXY Seeking Fibonacci Support at 0.618 Level, Specifically at $60.39 Occidental Petroleum Corporation ( NYSE:OXY ) is currently at a critical juncture on its price chart as it seeks potential support at the 0.618 Fibonacci retracement level, which corresponds to a specific price of $60.39. This level is significant in...
TVC:DXY Bullish Trend Line Break, with negative divergence. Technical Analysis Description: DXY Bullish Trend Line Break with Negative Divergence The DXY, which represents the U.S. Dollar Index, has recently exhibited a significant technical development characterized by a "Bullish Trend Line Break" accompanied by a negative divergence. This combination of...
A bearish to bullish parallel downtrend break is a technical analysis pattern that occurs when a security breaks out of a downtrend channel to the upside. This pattern is considered to be a bullish reversal signal, as it indicates that buyers are gaining control of the market and that the downtrend is likely to come to an end. To identify a bearish to bullish...
FX:USDJPY Double Top Holding the 150 level The USD/JPY currency and a parallel up trend break, pair is currently exhibiting a notable technical pattern known as a "Double Top" with a clear resistance level at 150. This pattern is significant as it often signals a potential reversal in price direction. Double Top Pattern: A Double Top is a bearish reversal...
To determine Fibonacci retracement levels: Identify the Recent Range: You need to identify the most recent significant peak and trough on the stock's chart. Draw the Levels: Using those two points, you draw horizontal lines to indicate where potential support and resistance levels should be. These are based on key ratios identified by Fibonacci which are: 23.6%,...
AMEX:LQD The weeks not over yet but we do like LQD with a double bottom looking for a weekly close of the previous weeks high.
NYSE:MMM Bearish to Bullish Reversal, In a notable development for 3M Company ( NYSE:MMM ), the stock appears to have broken its parallel downtrend, a pattern that has been influencing its price movement for an extended period. A parallel downtrend consists of two downward sloping trend lines that chart the lower highs and lower lows of an asset over time. This...
NYSE:RCL Fibonacci Support .618 The Royal Caribbean Cruises Ltd. ( NYSE:RCL ) stock appears to be interacting with a significant level of Fibonacci support at the .618 retracement. This level is often considered a crucial juncture in technical analysis, serving as a potential turning point where the asset could find support and rebound. Originating from the...
TVC:US10Y Negative Divergence RSI The TVC:US10Y showcases a negative divergence in the Relative Strength Index (RSI). This indicates that while the 10-year U.S. Treasury yield might be increasing, the momentum behind this rise is weakening. Historically, such divergences in the RSI can signal potential trend reversals or price corrections in the near future....
Monitor the imminent double bottom closely. Expect retail traders to short the intraday breakdown. However, be cautious of institutional traders potentially faking this move, only to propel the SPY back above the defining horizontal line. Our analysis indicates a bottom aligning now, coupled with the prevalent bullish seasonality.
AMEX:TBT Double Top, A "double top" is a popular term used in technical analysis to describe a chart pattern that suggests a potential bearish reversal of an uptrend. Here's a breakdown of the double top pattern: 1. **Formation**: The double top pattern forms after a strong upward move or trend. It consists of two consecutive peaks that are roughly equal, with a...
The SPDR S&P 500 ETF Trust ( AMEX:SPY ) continues to exhibit the technical pattern of an inverse head and shoulders, indicating that the bullish trend could still be in play. This classic reversal formation suggests that the ETF may have reached or is nearing a bottom and could experience an upward momentum in the near future. In this setup, the 'head' represents...
AMEX:GDX Trend Line Break, echnical breakout in the chart of AMEX:GDX , which is an ETF that tracks the performance of companies involved in the gold mining industry. A "Down Trend Line Break" to the upside is typically seen as a bullish signal in technical analysis. It indicates that the security in question, in this case AMEX:GDX , has broken through a...
AMEX:SPY Inverse Head & Shoulders Pattern, In the recent trading sessions, the SPY index has exhibited a compelling technical pattern commonly known as the Inverse Head & Shoulders. Unlike its bearish counterpart, the standard Head & Shoulders, this pattern is generally considered a bullish indicator and may signify a trend reversal from downward to upward. The...
The Double Bottom Pierce pattern on the AMEX:IYR weekly chart suggests potential bullish action in the real estate sector, making it a point of interest for traders and investors alike. As always, prudent risk management and due diligence are advised.
In technical analysis, a "Double Bottom" pattern is a bullish reversal pattern that typically signifies a potential change in trend from downward to upward. In the context of AMEX:GLD (Gold), spotting a Double Bottom pattern suggests that the asset has tested a support level twice and rebounded, indicating strong buying interest at that price level. This can be...
The Head & Shoulders pattern is a widely recognized chart formation in technical analysis, used to predict trend reversals. The pattern can be either bullish (Inverse Head & Shoulders) or bearish (Regular Head & Shoulders). In a bearish Head & Shoulders pattern, the chart displays three peaks: a higher peak (head) between two lower peaks (shoulders). The...