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

Party Like It's 1999 for QCOM

by Julius de Kempenaer

Technology is doing very well on the Relative Rotation Graph for US sectors, with a rotation that is well inside the leading quadrant and pushing further into it. If we shift gears and look specifically at the RRG for the technology sector (against XLK), we can see there is one tail that firmly stands out: QCOM. At present, QCOM has a long tail inside the improving quadrant, traveling at an RRG-Heading between 0-90 degrees, and is close to a crossover into leading. With all that going for it, this chart definitely seems to be worth a look Read More 

Don't Ignore This Chart

COUP Flies the Flag after Big Gain

by Arthur Hill

Coupa Software is one of the best performing stocks in 2019 with a 50% advance year-to-date. In addition, the stock is up over 80% from its late December low. Too far too fast you might say? Perhaps, but the stock digested its gains with a consolidation the last two months and this could set the stage for another move higher. As you can see from the stock price, Coupa Software (COUP) is clearly a high growth company. High growth stocks offer above average returns, but also above average risk. Coupa fits into the enterprise software group by offering cloud-based solutions for companies to Read More 

Don't Ignore This Chart

Is GOOS About To Lay Another Golden Egg?

by Greg Schnell

Buying retail at this time of year is tricky, but Canada Goose (GOOS) is sitting at an inflection point on the chart. Over the last couple of weeks, the stock has moved through a downtrend in relative strength (shown on the purple area chart) and sits just below the three-month horizontal green line. The weekly full stochastic is trying to turn up above 50; after having been below for a while, it may now be pointing to a trend change for a swing trade. Price has broken the six-month downtrend following a move above the 10-week moving average. If it can move above $54.06, that would put it Read More 

Don't Ignore This Chart

Ciena Hits Potential Reversal Zone

by Arthur Hill

The ideal scenario for traders is to buy after a pullback for a good reward-to-risk ratio. When the long-term trend is up, I look for indications of support and signs that an upturn is in the making. The chart for Ciena sports a classic setup with a confluence of indicators pointing to support and signs of an upturn. First and foremost, Ciena (CIEN) is in a long-term uptrend. The stock hit 52-week highs in February-March and remains well above the rising 200-day SMA. CIEN fell back in March with a big one-day reversal on March 5th and decline to the 37 area. This zone marks the upper end Read More 

Don't Ignore This Chart

Intel Hits New Highs $INTC

by Greg Schnell

Intel (INTC) is one of the companies currently engaged in the 5G race. While all the attention was focused on the massive move in Qualcomm this week, Intel also quietly broke out to fresh new highs. This followed the company's announcement it would not be making smartphone 5G modems, but would focus on the network side of 5G. You can read more about that here. Intel has been quietly climbing and has also been outpacing the S&P 500, as shown in the purple area chart. When this INTC:$SPX ratio is sloped up, it means that Intel is outperforming the Read More 

Don't Ignore This Chart

Financials Made It Into The Leading Quadrant, Now What?

by Julius de Kempenaer

At yesterday's close, the Financials sector (XLF) crossed over into the leading quadrant on the daily Relative Rotation Graph. The tail of the sector started to curl upward inside the lagging quadrant roughly two weeks ago, before then proceeding to travel higher on both the Jdk RS-Ratio and Jdk RS-Momentum scales. The sector traveled from lagging into improving and has now entered the leading quadrant. The increase on the RS-Momentum axes has stalled over the last three days and is now flat. This indicates that relative momentum is now stable/flat, pushing XLF Read More 

Don't Ignore This Chart

Are We Looking At A Wedge In The Making?

by Julius de Kempenaer

When acting in an environment of uncertainty (of which financial markets are a prime example) it is a good habit to double-check any findings. Think of it as an extra pair of eyes to confirm or deny what you (think you) are seeing. In this process, please keep an open mind and try not to get (too) married to your own ideas/views. Markets have no mercy. Fellow colleague and commentator Dave Keller has a subtle but great reference in the sign-off below all his blogs - "RR#6." Since you may be wondering what that means, here's a link to the explanation Read More 

Don't Ignore This Chart

JB Hunt Stalls In The Intersection $JBHT

by Greg Schnell

JB Hunt (JBHT) announced results that were not as positive as expectations and the stock dropped in response. The timing of the news happened to stall the stock right at the 40-week moving average. While the global economy has been rallying on since the late December lows, a lot of the attention has been focused on the continued growth in freight. JB Hunt is trucking into its 4th quarter of underperforming the $SPX, shown on the area chart with a high showing up last June. These lower highs in a major freight company are not bullish. The PPO continues to make lower highs Read More 

Don't Ignore This Chart

Three Breaks And You're Out For NFLX?

by Julius de Kempenaer

Since the beginning of the month, NFLX is lagging the S&P 500 index by more than 5%. This is following the relative weakness that entered this stock after a strong start of 2019, where NFLX initially ran from $230 to $370 but started to move sideways, facing heavy overhead resistance around $380. From January to March, the subsequent highs were still higher than their predecessors, albeit only marginally. Failing To Push Through Resistance NFLX's failure to push higher was already an Read More 

Don't Ignore This Chart

Is Costco (COST) Checking Out?

by Greg Schnell

Costco (COST) is one of the great retailers in the modern age. Recently, I went to Best Buy to buy some home electronics, but ultimately found out Costco had a better bundle at a better price. How a warehouse retailer offers better bundles than the specialists is a great question, but it's also the reason for Costco's success; they have a supplier design a bundled offering and it ends up being way better than the specialty retailer. That is true in everything from silverware to steaks, fruit to flowers or bread to butter. Somehow, it just works. Then you look at Read More 

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