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

Ultra Beauty Turns After Pullback

by Arthur Hill

The broad market environment is a bit shaky right now, but Ultra Beauty (ULTA) is holding up relatively well with a normal pullback after a big breakout. First and foremost, the stock is in a long-term uptrend after a breakout, surge and 52-week high in September. Also note that the 50-day EMA is above the 200-day EMA and price is above the rising 200-day EMA. After surging some 25 percent, the stock fell back to the 50-day EMA in early October with a normal pullback. While stocks were falling sharply on Thursday, the stock closed with a small loss and managed to hold above the rising Read More 

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Gold Kicks Up In The Dust Up

by Greg Schnell

$GOLD had a big day on Thursday with a $34 move.   While Gold has been out of favor so long, everyone has ignored it. If you are looking for something moving positive while the market stresses here, Gold related trades might be part of your solution. Good trading, Greg Schnell, CMT, MFTA. Read More 

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Japan against the rest of the world!

by Julius de Kempenaer

When markets around the world start to rumble it's usually a good exercise how all these moves compare against one another. The Relative Rotation Graph shows the relative picture for a number of major world equity markets against the Dow Jones World Index as the benchmark. The Indian $NIFTY index is on its way down backed by a long tail that is sending it lower on both axes well inside the weakening quadrant. A similar rotation, albeit with less strength, is visible for the Canadian. The weakest rotation is found for the European $STOXX600 Read More 

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Walmart Makes a Move with Good Volume

by Arthur Hill

Walmart (WMT) is making waves again with a massive breakout in August and a small breakout on Tuesday. WMT underperformed the market the first half of the year with a 25% decline from the January high to the May low. The stock firmed in May, began rising in June and broke resistance in early August. This breakout was solidified with a massive gap on big volume in August 16th. The advance and gap created an overbought condition that needed to be worked off. The stock alleviated this condition with a falling wedge, which acts as a correction or the pause that refreshes. Read More 

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Apache Corp (APA) Tries To Break Out

by Greg Schnell

Apache (APA) has been building a base between $35 and $50. A measured move would suggest a retest of the highs at $66 over the next year. Apache also pays a dividend.  Looking through the technical indicators, the SCTR is showing the highest reading since 2016 and has just moved above $75. The relative strength line looks to make new 52 week highs. The PPO just turned up a few weeks ago with the first positive cross above zero in months. The outlook for both oil and gas is also accelerating and the stock looks to be one of the strongest in the sector. Read More 

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This Biotech Bucked the Selling Pressure Last Week

by Arthur Hill

Last week was tough on stocks as the S&P 500 SPDR declined around 1%, the Nasdaq 100 ETF fell 3% and the Biotech iShares plunged 4.5%. Despite a rough week, note that some 180 stocks in the S&P 500 closed higher and bucked the selling pressure. Many of these names came from the finance, utilities and healthcare sectors. Even though BioMarin (BMRN) is not part of the S&P 500, the stock closed higher last week and the price chart caught my eye. The chart shows BMRN breaking resistance levels in May and June as the 50-day EMA crossed above the 200-day EMA. The Read More 

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AT&T calling!

by Julius de Kempenaer

After yesterday's close (10/4) I ran a Relative Rotation Graph of the Top-10 Market Movers inside the S&P-500 index. One of the names that popped up as potentially interesting was AT&T (T) as it is inside the improving quadrant and moving towards the leading quadrant at a strong RRG-Heading. The Daily version of that RRG (above) shows the strong rotation of T over the last 30 trading days which recently rolled over inside the leading quadrant and crossed over into weakening before  "hooking" back up and moving (almost) back into leading. The Read More 

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KIM at lower boundary of trading range

by Julius de Kempenaer

One of the names that popped up today on my alert for potential "Turtle Soup" setups is KIM. After opening up the chart for further inspection I noticed an interesting situation. It is very clear that the stock is in a trading range since June. The upper boundary around $ 17.25 has been tested a few times and so has the lower boundary that shows up near $ 15.50. With yesterday's low at $ 15.74, KIM is testing that lower boundary again at the moment. What makes the chart interesting is the fact that the trigger for a TS(+1) buy for today Read More 

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This Medical Devices Stock Looks Poised to Play Catchup

by Arthur Hill

The Health Care SPDR (XLV) is the best performing sector over the last six months with a 21% gain and the Medical Devices ETF (IHI) is one of the top performing industry group ETFs with a 25% gain. There are dozens of healthcare stocks hitting new highs and showing big gains, but there are also a few stragglers that may play catchup. Hologic (HOLX) is part of the medical devices group and in the "medtech" industry. The stock is up around 11% over the last six months, but lagging the sector and its industry group. This may change because I am seeing some bullish signs on the chart Read More 

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CVS: A healthy stock in a healthy sector

by Julius de Kempenaer

The Healthcare sector is getting a lot of attention lately. Not surprisingly as it is THE leading sector at the moment. Yesterday when I was working on my most recent RRG blog, XLV made it to the headline. And for good reasons. At the moment it is the only sector inside the leading quadrant on a Relative Rotation Graph and it is pushing higher on the JdK RS-Ratio scale. Very likely this means that there are some interesting stocks to find if we zoom in to the RRG that holds all members of XLV. The RRG above shows the Read More 

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