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The S&P 500 is up about 23 percent this year, but Tesla has turned red again. The first pattern on today’s chart is the $248.48 level were TSLA ended 2023. The EV maker managed to tick above that level in July and late September. But last week it returned decisively below it. The stock also made a lower monthly high, which is potentially consistent with a...

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Seagate Technology has been climbing for more than a year, and now some traders may see potential for a breakout. The first pattern on today’s chart is the $104.76 level, a closing peak in late August. The data-storage stock tested and held it this week. Has old resistance become new support? Second, that same price area is also near a 50 percent retracement of...

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Applied Digital rallied sharply last month. Now, after a pullback, some traders may look for potential continuation. The first pattern on today’s chart is the bullish gap on September 5 after Nvidia NASDAQ:NVDA participated in a $160 million funding round. That event boosted overall activity in the name, roughly tripling its average daily volume. TradeStation...

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Palo Alto Networks has been rangebound most of the year, but now the cybersecurity firm could be breaking out. The first pattern on today’s chart is the series of lower highs since August 20. PANW pushed against that trendline last week and broke it on Tuesday. Second, the 50-day simple moving average (SMA) is above the 100-day SMA. Both are above the 200-day...

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Ford Motor fell sharply over the summer, and now traders may think it will keep skidding lower. The first pattern on today’s chart is the bearish gap on July 25 after earnings and revenue missed estimates. That potentially reflects concerns about its growth and profitability. Next, F's 50-day simple moving average (SMA) had a “death cross” below the 200-day SMA...

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The Nasdaq-100 has lagged the S&P 500 since the summer, but some traders may look for it to catch up in coming weeks. The first pattern on today’s chart is the August 23 weekly close of 19,721. NDX tested and held that level last week, potentially turning old resistance into new support. Second, MACD and the 21-day exponential moving average are rising. Those...

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This is a conceptual strategy intended for E-mini S&P 500 futures with hourly bars. It uses three signals, going long or short when two or more change in the same direction. First is MACD. A positive oscillator is considered a bullish signal and a falling oscillator is interpreted bearishly. Next, stochastics are used as an overbought/oversold indicator....

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Moving average crosses are popular signals for trend followers. Like many conditions, they tend to reverse after a certain amount of time. Today’s script is designed to help traders visualize and interpret these turns. Bars Since MA Cross counts how many bars have passed since a fast-moving average crossed a slower MA. Bullish readings, with the faster MA above...

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The Relative Strength Index was created by J. Welles Wilder to measure overbought and oversold conditions. It’s also found popularity as an overall measure of direction because upward-trending stocks often hit overbought conditions. The opposite can be true with underperformers. Today’s custom script, RSI Past, attempts to capture this secondary use of RSI as a...

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Many technical analysts use moving average crosses to assess trend changes. A faster-moving MA crossing above a slower-moving line may be viewed as a bullish signal. The opposite can apply to the downside. While these methods may help analyze price direction, they can often force traders to wait until the cross occurs. Sometimes it may be useful to anticipate the...

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There are many price-based techniques for anticipating the end of a move. However, the simple passage of time can also help because bull markets don’t last forever. While old age doesn’t necessarily cause investors to sell, a reversal becomes more likely the longer a trend lasts. So, how long have prices been going up? There are various ways to measure that. Our...

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Moving averages are one of the most common indicators in the world of technical analysis. And they’re often the ingredients of more complex indicators like MACD. Today’s script shows how long prices have been moving in a given direction. Similar to our earlier Price Streak script, MA Streak counts the number of sessions that the average is rising or falling. It...