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December 1 Chart of the Day - D.R. Horton, Inc.

December 1 Chart of the Day - D.R. Horton, Inc.

The the stock of home builder D.R. Horton, Inc. (DHI) has risen over 20% in the past month in spite of rising interest rates that have deterred some home owners from moving this year.

So we wanted to take a look at the company's chart from a price action technical analysis perspective.

November 30 Chart of the Day - Intuit

November 30 Chart of the Day - Intuit

Intuit Inc. (INTU) provides financial management and compliance products for small businesses, self-employed individuals, consumers, and accounting professionals in the U.S. and worldwide.

The company reported better than expected results for Q1 FY2024, with sales up 14.7% year over year to $2.98 billion. The company's full-year revenue guidance of $16 billion came in below analysts' estimates. 

In after hours trading price popped up to $599 before falling nearly 8% this morning to the $570 area.

November 29 Chart of the Day - Dollar Tree

November 29 Chart of the Day - Dollar Tree

Dollar Tree (DLTR) shares are trading up this morning despite falling short of third-quarter earnings estimates on the top and bottom lines.

Trading at $118.73, well off its $177.19 all time high (ATH) set about a year and a half ago, we wanted to see from a price action technical analysis perspective why price might be trading higher given the earnings miss.

November 28 Chart of the Day - HP, Inc.

November 28 Chart of the Day - HP, Inc.

HP Inc. (HPQ) is an American multinational information technology company headquartered in Palo Alto, California, that develops personal computers, printers and related supplies, as well as 3D printing solutions.

The company is in the news this week because Warren Buffet's Berkshire Hathaway pared back on its large HP investment during Q3 according to public filings. 

And because of this we wanted to see the chart that made the "Oracle of Omaha" cut back his holdings.

November 27 Chart of the Day - Grayscale Bitcoin Trust

November 27 Chart of the Day - Grayscale Bitcoin Trust

One of the first securities solely invested in and deriving value from the price of Bitcoin (BTC), Grayscale Bitcoin Trust (GBTC) is solely and passively invested in BTC, enabling investors to gain exposure to BTC in the form of a security while avoiding the challenges of buying, storing, and safekeeping BTC, directly. GBTC shares are designed to track the BTC market price, less fees and expenses.

About a year ago we started scaling in to a GBTC position with an average cost around $10.  This past Friday we closed half the position at $31.20.  This was the beginning inspiration for posting Chart of the Day as “trading” works across all time frames.

November 22 Chart of the Day - NASDAQ

November 22 Chart of the Day - NASDAQ

Today we turn our focus on the NASDAQ futures (ticker /NQ) and one of the important questions we continuously try to answer is: Where could price go?

This is totally different than predicting or calling tops or bottoms.  Once we've determined the answers based on price action technical analysis tools then we develop our "battle plan" chart. 

One that includes the price levels in both directions from which we create pre-determined trade plans.

See the answers we've come up with so far!

November 21 Chart of the Day - Dick's Sporting Goods

November 21 Chart of the Day - Dick's Sporting Goods

Dick's Sporting Goods (DKS), a big box sporting goods retailer, reported better than expected earnings before the market open on Tuesday and is trading up about 8% around $127.

Wait until you see the reasons why we selected this chart today!

How to Know When to Enter a Trade

How to Know When to Enter a Trade
A frequently asked question I routinely get is “Tom, when you have multiple levels of support/resistance, trend, or fibs how do you know which is the best level to use to get into a trade?”

The simple answer is I don’t. Nor, with any certainty does, anyone else.

“So what do you do” becomes the follow up question.

November 20 Chart of the Day - Sirius XM

November 20 Chart of the Day - Sirius XM

A familiar "value stock" has reentered Berkshire Hathaway's portfolio satellite-radio operator Sirius XM Holdings (SIRI).  During the September-ended quarter, the Oracle of Omaha and his team purchased 9,683,224 shares of Sirius XM, which as of the closing bell on Nov. 14, 2023, were worth approximately $47.35 million.

Our first question was simply, why?

So we wanted to find out.

November 17 Chart of the Day - McKesson

November 17 Chart of the Day - McKesson

McKesson Corporation (MCK) is an American company distributing pharmaceuticals and providing health information technology, medical supplies, and care management tools. The company delivers a third of all pharmaceuticals used in North America and employs over 78,000 employees.

The company was also reported to be one of Berkshire Hathaway's top 30 holdings and as such garners significant amounts of attention.

Warren Buffet, often referred to as the "Oracle of Omaha," sure does know how to pick his stocks!

See why!

November 16 Chart of the Day - Walmart

November 16 Chart of the Day - Walmart

Walmart (WMT) posted higher than expected revenue of $160.8 billion for its third quarter earnings on Thursday morning.  Adjusted earnings per share came in at $1.53, versus estimates of $1.52.

Despite the earnings beat, Walmart gave soft guidance for the rest of the year and shares were trading down over 7% earlier today around $157.

Falling from its $169.94 all time high (ATH) set yesterday some may wonder if its news caused the drop or price action technical analysis.

Wait until you see what we discovered on this chart!

November 15 Chart of the Day - Atlanta Braves Holdings

November 15 Chart of the Day - Atlanta Braves Holdings

Warren Buffett's Berkshire Hathaway, known for its diverse investments, made an $8 million investment on major-league baseball.

The Omaha, Neb.-based conglomerate took a new position in Atlanta Braves Holdings (BATRA), the holding company for the team that finished the recent baseball season with the league's best record. The Atlanta Braves last won the World Series in 2021.

Because we're big baseball people and just for fun we thought we'd take a look at their chart.