Don't Ignore This Chart

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About this blog: The blog contains daily articles with intriguing or unusual charts selected by one of our Senior Technical Analysts, along with a short explanation of what exactly caught their attention and why they believe the chart is worth noting.

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Don't Ignore This Chart

A Classic Continuation Pattern Takes Shape in Danaher

by Arthur Hill

Danaher (DHR) is a conglomerate that is the 15th largest component (1.91%) of the Health Care SPDR (XLV) and the 5th largest component (5.43%) of the Medical Devices ETF (IHI). XLV broke out last week and IHI has been leading for some time. The stock is also looking strong as an ascending triangle takes shape. The chart shows Danaher with the Percentage Price Oscillator (50,200,0) in the indicator window. This indicator measures the percentage difference between the 50-day EMA and 200-day EMA. I use it to define the long-term trend and my trading bias. The PPO has been positive for over a Read More 

Don't Ignore This Chart

Allergan (AGN) Thrusts To Fresh Three Month Highs

by Greg Schnell

Allergan put on a nice move over the last two days on news that Carl Icahn was in the stock with David Tepper. A big volume surge of 10 million shares over two days suggests more than a passing interest in this stock.  As pharmaceutical stocks seem to be enjoying renewed attention, this particular gain is big. This stock showed up on Thursday in the big movers on the home page. I covered off the home page idea generator on The Final Bar 2018-06-08 and specifically mentioned Allergan. You can see that video below.  I host a new TV show on Read More 

Don't Ignore This Chart

McCafe Is Worth Looking At (MCD)

by Greg Schnell

McDonald's is in the process of rolling out a few new store formats. I saw one first hand in Sydney, Australia on its opening week. While there were some bugs to be worked out at the time, the format was interesting. Well, apparently it's full steam ahead with the format and the plan is to turn 1000 stores each year. The chart has been in a terrific up trend through 2017. In 2018 it has been consolidating. Well, that all changed today with a burst out of the top of the range. The break out has a nice volume bar with another full day to be added. The MACD turning up just above Read More 

Don't Ignore This Chart

Oil Hits Potential Reversal Zone

by Arthur Hill

Oil fell rather sharply over the last two weeks, but the long-term trend is up and two technical indicators point to a bounce. The chart below shows the USO Oil Fund (USO) in the top window, RSI for USO in the middle and the Light Crude Continuous Contract ($WTIC) in the lower window. USO is fine for short-term analysis, but I prefer $WTIC for long-term analysis. First and foremost, the long-term trend is up as crude advanced from the mid 40s in June 2017 to the low 70s in May. Oil hit a 52-week high in May and remains well above its rising 200-day SMA. Read More 

Don't Ignore This Chart

Cameco (CCJ) Breaks Out Of The Base

by Greg Schnell

Cameco has underperformed for years. About 6 months ago, Cameco started to limit Uranium supply. Now the stock looks set up to run.  The SCTR is moving back above 75 which is a sign of a strong stock. The Full Stochastics are turning up above 50 which is a bull market trait. Price is moving to new 52 week highs.  On the recent pullback, volume was light. Bullish. Now the PPO is above zero and looks set up to make higher highs. Another bullish trait.  The big picture is the three year base at $13. If this Read More 

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Apple Breakout Could Lift these Two Suppliers

by Arthur Hill

Apple (AAPL) broke out of a pennant formation with a surge on Friday and this breakout could bode well for Qorvo (QRVO) and Skyworks (SKWS). The first chart shows Qorvo surging over 20% and then stalling with a contracting consolidation. This is a pennant and it is a bullish continuation pattern. A breakout would signal a continuation higher and open the door to new highs. The indicator window shows the Correlation Coefficient so we can compare Qorvo with Apple. There were two dips into negative territory, but these two are positively correlated for the most part Read More 

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IDEXX Laboratories (IDXX) Resumes The Uptrend

by Greg Schnell

IDEXX has built a textbook consolidation with an ascending base. Today it moved above the previous closing highs and looks like it is resuming a big uptrend.  The SCTR has moved back above 90 and the relative strength is almost at new highs. The price action is obviously bullish but this $208 level has provided some resistance. With today's surge, the stock looks to be leaving the $208 level in the rear view mirror.  The volume is ok with an average of 490,000 shares a day and the MACD has just turned up. This looks setup for another leg higher. Read More 

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Facebook (FB) Recovers From Global Grilling

by Greg Schnell

Facebook surged to new three month highs with the potential to retest the all time high later this week. Obviously one of the best buy points was when they announced that Mr. Zuckerberg would testify in Congress. That marked the bottom of the stock. Now what to do with the stock? After the 4 months consolidation, Facebook is trying to break $200 over the next few days or weeks. The stock is moving back above 75 on the SCTR ranking so that is very positive in my work. A top performing stock is bullish, not over bought. We can also see the stock is making new highs in relative Read More 

Don't Ignore This Chart

A Bullish Continuation Pattern Forms in the Biotech iShares

by Arthur Hill

The Biotech iShares (IBB) surged off support in mid-May and then stalled the last two weeks with a bull flag taking shape.  A bull flag is a short-term bullish continuation pattern. These patterns form after a sharp advance and represent a rest or consolidation. This is often needed to digest the gains and prepare for the next leg higher.  Flags can be flat or slope down and they fly at half-mast. Thus the pole we see in the chart below is only a half pole. A flag breakout would signal a continuation of the prior advance and project a similar move higher. Thus, the length Read More 

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TripAdvisor (TRIP) Takes Its Own Advice

by Greg Schnell

TripAdvisor (TRIP) has become a mainstay tool for frequent travellers. Last week I was in Greece and we used it all the time. Checking out ratings on restaurants, patios, plays, and hotels is so easy on TRIP. The website created ways to book restaurants and hotels directly through the site without going to restaurant booking tools or another travel site.  While this is starting to show up in the stock. After being in a 3-year downtrend, TRIP took its own advice and left the base for travels up and away. After two big earning thrusts, the stock recently made new 52-week Read More 

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