Thursday, March 28, 2024

Chart of the Day: Carnival Pushes a Key Level

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Carnival has been stuck in the doldrums since last summer, but now some traders may think it’s ready to cruise higher. The first pattern on today’s chart is Friday’s last price of $12.18. While the...

Chart of the Day: Micron Pulls Back After Breaking Out

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Semiconductor stocks have been moving lately. Today’s chart focuses on memory-chip producer Micron Technology. The first pattern to consider is the level around $64.30. MU peaked near this price in November, January, March and April....

Options Alert: Call Volume Grows as Salesforce.com Nears Highs

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Major technology stocks like Apple and Microsoft jumped on quarterly results. Will peer Saleforce.com make a similar move? Marc Benioff's provider of cloud-based marketing software is up 49 percent this year after a sharp selloff...

Technical Analysis: Amazon.com Could Be Struggling After Uncertain Guidance

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Amazon.com may be showing signs of weakness after another post-earnings drop. The first pattern on today’s chart is the rising trendline along the lows of March and April. AMZN fell to that support last week...

Chart of the Day: Will Alcoa Continue Lower?

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Alcoa rallied early last year after the Ukraine war threatened aluminum supplies. It’s struggled since and now some traders may expect further pushes to the downside. The first pattern on today’s chart is the series...

Technical Analysis: Merck Could Be Breaking Out

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Merck surged in late 2022 and consolidated during the first quarter. Now the drug maker could be breaking out. The first pattern on today’s chart is the rally between mid-October and early January, which included...

Chart of the Day: Apple Pulls Back After a ‘Golden Cross’

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Apple clawed to a six-month high last week. Is it done or will prices continue higher? The first pattern on today’s chart is the price level around $156. AAPL peaked there on March 6 and...

Will American Express Run Again? A Big Options Trader May Think So

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American Express has dropped along with other financials this month, but one big investor is using options to stay long the name. Check out this large trade that occurred shortly before noon yesterday: A block of...

Technical Analysis: Will Tesla Shares Drive Higher?

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Tesla more than doubled between January and mid-February. It retraced almost half that move last month and is now trying to bounce. Will the move continue? The first pattern on today’s chart is the 50-day...

Growth Comeback? Nasdaq Surged Last Week Amid Banking Scares

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Stocks face a confusing mix of positives and negatives, but the biggest story could be an unexpected surge in the Nasdaq-100. The technology-heavy index rallied 5.8 percent between Friday, March 10, and Friday March 17....
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