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

Costco Breaks Triangle Line with Big Gap

by Arthur Hill

Costco (COST) is showing some upside leadership this year with a triangle breakout and challenge to the January high.  Long-term trend identification is important because it sets my bias going forward. My bias is bullish when the long-term trend is up and this means I favor bullish patterns over bearish patterns. The overall trend is clearly up because Costco hit a 52-week high earlier this year, the 50-day moving average is above the 200-day and price is above the 200-day.  COST stalled after hitting the new high and formed a big Read More 

Don't Ignore This Chart

Bond Prices Look Set To Break Down Meaningfully

by Greg Schnell

Bond prices are rolling over at a critical place on the charts. This sends yields higher. The big 5 year picture shows the delicate place where the bonds prices are falling. It is a perfect head/shoulders top with declining momentum on each push up. This is shown on the MACD. Also, notice the MACD gave a sell signal on Friday's close and closed below the 10 Week Moving Average.  While normally this 'bond prices are breaking down' narrative would just be more noise for the market, we can see the slimmest of margins before this price action will Read More 

Don't Ignore This Chart

American Express Goes To The Front Of The Line

by Greg Schnell

American Express jumped to the front of the line and closed on all time highs with a huge surge today. The SCTR surged back above 75 and the Relative Strength moved to new highs. Both of these are excellent indicators of strength. The price chart shows todays move exploding outside the range of the recent consolidation. Moves like this usually continue so watch for the stock to stay active in the top right corner. While payment systems were raging in 2017 AXP was tracking them higher. After correcting for the first three months of the year, American Read More 

Don't Ignore This Chart

Silver Surges out of Bollinger Band Squeeze

by Arthur Hill

Industrial metals surged on Wednesday with 2+ percent gains coming in silver, aluminum, palladium, copper and nickel. The Silver ETF (SLV), in particular, finally broke out of a two-month consolidation. The chart below shows the Silver ETF (SLV) with Bollinger Bands in pink and BandWidth in the indicator window. Overall, SLV has been stuck in a large trading range the last 12 months. With today's move, the ETF surged off the mid-point of this range and the cup is now half full.  The Bollinger Bands narrowed in early March and remained tight into April. Notice Read More 

Don't Ignore This Chart

Microsoft (MSFT) Resumes The Ramp

by Greg Schnell

Microsoft has been a huge mover in the large cap space. Over the last few months, it took a rare pause on making higher highs. It looks ready to start climbing again. The SCTR continues to be up in the top 25% and is currently at 90. The relative strength just keeps hitting all time highs. The price move today suggests it is continuing in its uptrend.  The MACD is just moving above zero so this set up has lots of room to run. Charts are breaking out all over the place. Now the the indexes have broken above resistance we are Read More 

Don't Ignore This Chart

Analog Devices Reverses Course at Key Retracement

by Arthur Hill

Analog Devices (ADI) is a large semiconductor stock and a leader in the internet of things (IoT). The stock is in a long-term uptrend and recently broke short-term resistance to reverse a short-term pullback.  First and foremost, the long-term trend is up. The stock hit a 52-week high in January, the 50-day EMA is above the 200-day EMA and the price is above the rising 200-day EMA.  The stock has been moving sideways since November with a least five price swings greater than 9 percent. The decline from  mid-March  to early April marks the last downswing and the stock Read More 

Don't Ignore This Chart

This Network Hardware Company Is Soaring

by Greg Schnell

As the market broke out above a 3-week top, this network hardware maker jumped up to new highs. The SCTR is in the top 5 %, the Full stochastic is bouncing at 50 which is usually a nice bull trait. The stock broke through an 18 month resistance level at $150.  The PPO has turned up confirming the move and appears set to trend higher. Some of these stocks that have been off the radar in the tech area are starting to move. Good trading, Greg Schnell, CMT, MFTA Read More 

Don't Ignore This Chart

Looking For All Time Highs

by Greg Schnell

The energy sector has been a roller coaster of emotions with very little profit showing up for investors. The whipsaws have been large.  This week the energy charts changed complexion as oil proceeded to break out. One stock that is showing up on the radar is Suncor Energy. While lots of energy stocks are still near the 2016 lows, this stock it trying to push to all time highs. The SCTR shows Suncor up near 90, suggesting excellent price action. The weekly full stochastics have been rising since the late February lows. Suncor price action is particularly impressive. After Read More 

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Frontier Markets are Outperforming US Market

by Arthur Hill

The Frontier Markets ETF (FM) has been outperforming the S&P 500 SPDR (SPY) since summer and held up much better than the US market in March-April. FM recently broke out of a consolidation and it looks like the bigger uptrend is continuing.  The chart below shows FM with the 50-day EMA and 200-day EMA. The ETF is above both EMAs, the 50-day EMA is above the 200-day EMA and it recorded a 52-week high in January. It is safe to say that the long-term trend is up.  The ETF surged in February, consolidated in March and then broke Read More 

Don't Ignore This Chart

Do You Like Cake?

by Greg Schnell

With the big rally in the market on Thursday, some stocks broke above resistance. One of those stocks appeared in the restaurant industry today. The Cheesecake Factory (CAKE) looks pretty good here. The SCTR is moving above 75. The relative strength is clearly outperforming. The volume soared on the breakout and the MACD turned up from just above zero. All this is excellent.  As the market tries to find a bottom here, some of these breakouts are happening every day. Stay tuned. Good trading, Greg Schnell, CMT, MFTA Read More 

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