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

Airline Stocks May Rise On Crude Weakness

by Greg Schnell

The airline stocks have been mudding around. They have stayed in a giant trading range. I noted on my chart last year Warren Buffet had been buying airline stocks. Well, its been a zero gain trade. The airlines bounced last week at support and are bouncing up. One consideration is the $15 drop in Crude could help the airline margins for the fourth quarter. One of the better airline charts is United Airlines (UAL). The chart has had a strong SCTR recently. It broke above horizontal support at $77.50 in mid October and has now bounced up to retest the highs. The improvement in relative Read More 

Don't Ignore This Chart

Campbell Soup is Looking Rather Bland

by Arthur Hill

Soup season is upon us, but Campbell Soup ($CPB) is having none of it as the stock trends lower and lags its sector, the Consumer Staples SPDR (XLP). First and foremost, the long-term trend is down with a 52-week low in June, the 50-day below the 200-day and the 200-day EMA falling. The stock bounced back to the 200-day in August, but turned back down the last few months. CPB gapped up in June and held this gap for over a month, but selling pressure picked up again in August and the stock broke support levels. Note the lower lows in late August and September. The stock is currently Read More 

Don't Ignore This Chart

Tiffany's Lines Up Support $TIF

by Greg Schnell

Tiffany's stock has pulled back 25% since July. While that is not good, it is very similar to a significant number of consumer discretionary stocks. There are lots of nice setups on retail stocks currently. Tiffany's lines up support at $100. The $SPX made it's low so far this week, but Tiffany's is building on a bounce off the $100 level last week.  A few of the indicators look ready to turn but the PPO only appears to be heading lower. If the histogram can start to improve here, that would be a start. The full stochastic below 20% looks like a nice place to find a reversal Read More 

Don't Ignore This Chart

Comparing the Current Month with the Last 20 Years

by Arthur Hill

The S&P 500 is down around 7.5% so far this month and this is shaping up to be the worst monthly decline in over five years. Keep in mind that there are still a few days left in October and the last monthly bar will not complete until the close on Wednesday. The seven blue lines and one red line show eight monthly declines that exceeded 8%. The first four occurred during the bear market in 2001-2002, the next three in the bear market in 2008-2009 and the last in early May 2010 (flash crash). The biggest monthly decline in the last 20 years occurred in October 2008, which was smack dab Read More 

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Amazon $AMZN Sets Up For The Holidays

by Greg Schnell

Amazon has had a rough month in October. With the stock dropping $450 or 20% from its highs, it is clearly being marked down. The real question is can we buy the stock for the holiday season? Can Amazon be a set up for the holiday season? I like the weekly Full Stochastic signal here. This is a once a year signal that shows up for Amazon and typically leads to a great run in the stock.  This means the stock is in the setup zone and we need to wait for a confirming signal to buy if you are a weekly chart investor. The last time price dipped below the 40 Week moving average was on the Read More 

Don't Ignore This Chart

Can I have some fries with that please?

by Julius de Kempenaer

On the Relative Rotation Graph holding the 30 stocks in the DJ Industrials index, McDonald's (MCD) is one of the names that pop up as potentially interesting. The stock is positioned inside the improving quadrant for a few weeks now and moving towards the leading quadrant at a strong RRG-Heading. Especially the last segment of the trail shows the increasing relative strength against the S&P 500. Bringing up the price chart for MCD this morning was actually a pleasant surprise among all the misery on global stock exchanges around the Read More 

Don't Ignore This Chart

This Software Stock is Holding up Well in October

by Arthur Hill

The pickings are getting slim after sharp declines in October, but some stocks are holding up better than others. The Software iShares (IGV), in particular, held up better than most industry group ETFs and Adobe (ADBE) is a leader in this group. The chart below shows Adobe falling sharply in the first half of October, but managing to hold the summer lows and 200-day SMA. The S&P 500, in contrast, broke its 200-day during the October decline. This means Adobe is holding up better. On the price chart, the stock bounced off support in mid October and managed to hold Read More 

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Invitae Corp (NVTA) Prints A Hammer Candle

by Greg Schnell

Invitae Corp is a small biotech that has been in an uptrend since April. Over the last month the stock has pulled back to find support at the recent lows. On Tuesday, Invitae Corp (NVTA) printed a nice hammer candle that you can see in the zoom panel.  With the wide ranging pullback in the overall market, finding strong stocks like this that give an opportunity to pick up on a pull back are nice to watch. If the stock can start to bounce from here, this looks like a nice entry with a stop just below. Here are the three most recent videos I have Read More 

Don't Ignore This Chart

Using the Measured Move Technique for Citigroup

by Arthur Hill

Citigroup (C) is leading the Financials SPDR (XLF) lower with a lower high in September and a rising wedge break in October. The chart shows weekly bars for Citigroup over the last three years. The stock led the market higher in 2016 and 2017 with a gain exceeding 100% from low to high. This big bank turned into a laggard in 2018 because it never challenged its January high and formed a lower high in September. The summer bounce to the 75 area formed a rising wedge and these patterns are typical for counter trend rallies. C broke the lower trend line and the August low over the last Read More 

Don't Ignore This Chart

Fortis (FTS) Starts To Move

by Greg Schnell

Fortis is a North American utility company that is set up quite nicely here. The annual dividend is 4%  and the quarterly payment is due in November. This chart intrigues me because the setup across a lot of the pipeline and utility charts is similar. The Relative Strength is breaking a one year down trend. The SCTR ranking has been improving for the last three months and is now at 52 week highs. The down sloping price trend line is being tested today. The Full Stochastics is giving off a particularly nice setup. When the stochastic pulls back from the 80 level and bounces around Read More 

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