Home Depot is currently trading near its 21 day EMA. Bulls will need Home Depot will to push through the 21 day EMA resistance level to take the stock up to its recent high. Although we see a double bottom, which is known to be a bullish reversal pattern, please be aware that this chart can also be interpreted as seeing a simple price consolidation pattern, such...
If there's one stock I had to name for being the most unpredictable, it's TESLA ( NASDAQ:TSLA ). This rather volatile stock is expected to have some pretty big moves going into market close today as the company will be holding their annual shareholder meeting at 4:30 p.m. ET. ...But wait...there's more! Once the meeting is over, the company will immediately...
Clorox NYSE:CLX has really been selling off this month. The stock has dipped below its 100 day exponential moving average more than twice recently. I am going to see if CLX break below the 200 EMA. If so, then the key levels to watch might be that bearish turning point line, which was drawn using previous support levels. Seeing this chart makes me wonder...Is...
The markets have been selling off over the past few days, leaving most of the sectors in the S&P 500 in the red. A stock that caught my eye today was Target. The discount store's stock prices have been trading near it's 21 day exponential moving average only dipping beneath it temporarily throughout intraday trading sessions. Despite the warning signs of what...
The broad indices (S&P 500, Dow Jones Industrial Average, and the Nasdaq) sold off today led be profit taking in the tech sector... at least that's the story. However, regardless of the reason, the facts remain that prices are considerably lower than where they were yesterday! You can take a look at the individual stocks that comprise any one of these indices and...
Home Depot ( NYSE:HD ) is pulling back along with the Dow today and is finding support at the 13 Day EMA as shown on the chart above. Could this be a pullback trade? I would like to think so, but as the SPY soars to new highs, we continue to be in an overextended market. I think Home Depot has the potential to continue higher provided that the SPY or DOW doesn't...
Applied Materials ( NASDAQ:AMAT ) has an interesting chart in that it tends to pull back below the 21 EMA on the daily chart. I tried to identify a clear area of support for each pullback, but it seems arbitrary. You can see the Keltner Channel falls just short of where the stock reverses the second time and the most recent pullback is actually pulling back to the...
Intel Corp ( NASDAQ:INTC ) was one of those stocks that recently dipped post earnings. Adding fuel to that fire, was a recent departure of one of their engineering executives and a securities class action lawsuit. At that time we posted an article called "Buy the Dip?" Where I was talking about how it would better to wait for price action to come back into the...
As mentioned before, Clorox ( NYSE:CLX ) has been one of those steadily rising stocks that appear to be benefiting from the Coronavirus. Logically, it makes sense that a company like Clorox would do well during a time where sanitation is of the utmost importance. It's not surprising to see that CLX is on the rise, however, even rising stocks need to take a...
According to the news, Apple ( NASDAQ:AAPL ) shares sold off today as well as other tech stocks and supposedly dragged the S&P 500 down with them. As crazy as that sounds, I have come to accept that the markets are, as always, unpredictable. Banks stocks on the other hand were in the Green. Let's follow AAPL and see if the SPY continues to follow AAPL further...
As you all know, I regularly post pullback trade ideas as stocks pullback to their 21 day EMA. Today, I am looking at Starbucks NASDAQ:SBUX . What's different about this pullback is that Starbucks usually doesnt hang out at the 21 for more than a day or two. However, its been 4 days... so I wonder if the powers that be are on to us! ... just kidding. But in all...
TSLA soared to all time highs this week... and though it would be fun to jump in on the action, it just feels like Iwould be entering no man's land to be bullish on TSLA at such a high price. I am going to be watching for a pull back somewhere between the 13 and 21 EMA over the next 7 to 10 days. What goes up, usually comes down. This is one that I will be waiting...
Grocery giant Kroger ( NYSE:KR ) reported quarterly earnings of $1.22 per share, which beat the analyst consensus estimate of $1.09 by 11.93%. Kroger also reported quarterly sales of $41.55 billion, which beat the analyst consensus estimate of $40.72 billion by 2%. The stock quickly sold off at the open and the stock is down approximately 6% as of 2:00pm ET. The...
What a wild ride its been for the markets! I am definitely having a beer after this week is over... but before we kick off the weekend, we have to take a look at the SPY. As you all know, I like to look for trade setups when trending stocks pull back to their 21 daily exponential moving average. Today is no exception. SPY has been trending higher over the last 3...
Here at YouCanTrade, we have been keeping watchful eye on defensive stock Raytheon NYSE:RTX , which has been trading below its 8 day EMA over the past 2 weeks of trading. The last two days of positive market activity has helped Raytheon pullback to its 21-day moving average, which could be a signal for taking a position in the direction of the downward trend....
NYSE:NCLH Norwegian Cruise Lines (NCLH) recently ran into resistance as sellers prevented the stock from going past the .236 fibonacci retracement level earlier this week. Furthermore, recent options activity shows bearish sentiment with NCLH put/call volume ratios of 2.07 This means for every 1 call that trades, there are 2 puts are being traded. The...
AMEX:REK Though it may be a little early to tell, we might just might see a buyer's market emerging in real estate in the next few months to come. Although, not a popular ETF, this short ProShares ETF seeks a return that is -1x of the Dow Jones U.S. Real Estate Index. I know it's probably not most pleasing though to think the real estate market could go down,...
The aircraft manufacturer has really gone through ups and downs coming into 2020. Contributing to the recent declines have been the ongoing issues with the 737 Max crashes in 2019 which led to the FAA suspending the aircraft from flying hurting many airlines such as Southwest, United Airlines, and American Airlines. Also adding to the pain is the Coronavirus...