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

Hexcel Bucks the Selling and Holds the Break Zone

by Arthur Hill

May was a tough month for the broad market indexes and nine of the eleven sectors. Only the Utilities SPDR and Real Estate SPDR advanced in May as the other nine sectors fell. Stocks that closed higher in May bucked some serious selling pressure and could be worth a second look. Hexcel (HXL) is one such stock because it advanced in May and even hit a new high in late May. The chart shows the stock surging above its 200-day SMA in January and then embarking on a consolidation from February to May. A triangle formed as the stock digested these gains and HXL broke out of the triangle with a Read More 

Don't Ignore This Chart

The 40 Week Moving Average Turns Down Again $SPY

by Greg Schnell

The SPY is a tracking ETF for the S&P 500. What that means is that SPY represents the price action of the $SPX; in fact, it actually outperforms the $SPX, as investors holding the SPY also get the dividends. The rising purple area chart below shows the SPY outperforming the $SPX, which is due to the dividend. Looking at the weekly RSI, we have dipped below 50, which is bearish. In bull markets, we would expect this to bounce near the 40 level. The real problem is that the big push down in December to 30 suggests we have started a bear market. The recent rally almost got to 70 Read More 

Don't Ignore This Chart

Did We Just Complete a H&S Top In $SPX?

by Julius de Kempenaer

It seems I did not have to look very far to find today's DITC entry The S&P 500 ($SPX) provides enough ammunition to get excited - or maybe worried is a better word - and not ignore the price action that is unfolding at the moment. Looking at the 6-month chart of the index, the contours of a head-and-shoulders top formation can be distinguished. Is it a perfect H&S? Probably not. Does it have enough validity to not be ignored? Definitely. The rally out of the December low ended at the high on the 1st of May, when a more Read More 

Don't Ignore This Chart

Cardiovascular Systems Breaks from Pennant

by Arthur Hill

Cardiovascular Systems (CSII) shows bullish price action with signs of accumulation that could lead to higher prices. First and foremost, the long-term trend is up because CSII recorded a new high in early March and is above the 200-day SMA. The 50-day SMA (green) is also above the 200-day SMA (red). After hitting a new high, the stock fell back to the 200-day SMA in April and even gapped lower on April 11th. This gap did not last long as the stock surged above 40 and filled the gap. This surge also put the stock back above its 50-day and 200-day lines. Read More 

Don't Ignore This Chart

AMD Bucks The Trend

by Greg Schnell

Semis have been getting short-circuited lately. The $SOX chart looks abysmal. However, the chart of AMD continues to hold up in the face of industry weakness. When a stock refuses to be beaten down with the rest of the group, this is indicative of clear investor interest. The broad market is overwhelmingly weak, with more and more information coming out about big slowdowns. According to my Twitter feed today, these numbers are not just weak, they're aggressively weak.  If the overall market pulls back, it will be hard for AMD to keep going up, but, if it just Read More 

Don't Ignore This Chart

Coty Gets Better Looking (COTY)

by Greg Schnell

The four-year chart for Coty (COTY), a consumer staples fashion house, has not been one of beauty; rather, it looks like ten miles of bad road, as dad used to say. This month, though, something happened that changed the trend and put lipstick on my interest in the stock. Let's walk through the indicators together.  First of all, the SCTR surged early in the new year and pulled back. One-time surges can and do happen; it is the second trip to the top area that tweaks my interest. This is a bull trait. Some interest shows up, the stock relaxes, then interest Read More 

Don't Ignore This Chart

Is China About To Pick Up The Pace Again?

by Julius de Kempenaer

Yesterday, I wrote about the relationship of US stocks against other international stock markets in my regular RRG Charts article. The Relative Rotation Graph that I use for these analyses is one of the pre-defined groups and is shown above. While working on that article, I noted the long tail and the hook down on the Chinese market index $SSEC. Afterwards, I decided to make that chart today's chart to not be ignored. Resting At Support Levels Near 50% Retracement The Chinese Read More 

Don't Ignore This Chart

A Medical Device Stock with Strong Volume Trends

by Arthur Hill

An existing uptrend and short-term breakout on high volume point to higher prices for Boston Scientific. The chart below show BSX hitting a new high in early March and then falling rather sharply into mid April. A volume spike punctuates the plunge below 35 and this looks like a selling climax that washed out most the sellers. The stock then recovered with a move back above its rising 200-day SMA and I think the long-term uptrend remains intact. Short-term, the stock moved above its 200-day in late April and then corrected into mid May with a Read More 

Don't Ignore This Chart

Could GoPro Go? Yes It Could Go! GPRO

by Greg Schnell

GoPro (GPRO) is a classic IPO that initially traded with a lot of hype before ultimately losing its mojo. The stock IPO'd almost 5 years ago and has been in a big slide ever since. However, there's now a big reason for you to put GPRO on your radar, which is that the stock actually made new 52-week highs in May - the first time that has happened in its life! Is the GoPro finally ready to run?  The SCTR for GPRO has just pushed to its highest level since shortly after its IPO, which suggests excellent price strength. Due to the big Read More 

Don't Ignore This Chart

A Momentum Break for Ross Stores

by Arthur Hill

Ross Stores (ROST) recently bounced off its rising 200-day SMA with a bullish candlestick pattern and short-term RSI broke to its highest level of the month. It looks like the short-term pullback is ending and the bigger uptrend is resuming. ROST plunged in November-December with a sharp decline below the 200-day SMA. This plunged caused the 200-day to flatten in December, but it never really turned down. ROST quickly rebounded in January with a move back above the 200-day and the 200-day is back on the rise. Short-term, the stock edged lower Read More 

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