ChartPros Market Insights

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.

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.

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!

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!

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.

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!

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!

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.

Tyson Foods (TSN) reported its fiscal Q4 results on Monday. Its $13.3 billion revenue missed Wall Street's target of $13.7 billion, while its earnings per share of $0.37 beat expectations of $0.25. Shares closed 3% lower after the mixed results.

Trading below $46 earlier today the stock is well off its $100.72 all time high (ATH) set in mid 2022.  Since then it's been constant selling pressure.

See the 15 year trend line that price could be heading towards...

Originally posted November 2nd and updated on November 13th.

Apple (AAPL) reports earnings after the close today and is making a repeat appearance on our Chart of the Day segment.  Previously featured on August 7th we'll update its chart for earnings.

Using price action technical analysis tools we can see Apple has continued to make lower lows and lower highs on the weekly chart since making its $198.23 all time high (ATH) this past summer.

Nothing technically broken, seemingly just a series of orderly retracements however, see where the market thinks price could head next week!

For anyone who traded $APPL earnings based on our November 2 Chart of the Day... a direct target hit!

Wynn Resorts (WYNN) shares were recently down about 9%, making them one of the S&P 500's biggest decliners.  On Friday Wynn Resorts reached a tentative deal with unions representing workers on the Las Vegas Strip, averting a strike. Price fell another 7% after the announcement.

So does news really have anything to do with a chart or is it technical analysis?

Let's take a look...

Whether you like Domino's Pizza (DPZ) or not, you likely know the restaurant chain and its top-selling product: pizza.   The company is doing something it hasn't done before, working with Uber Eats on the delivery of its pizzas in an attempt to return its stock price to the pandemic time frame $567.57 all time high (ATH) levels.

Trading around $372 earlier today price has retreated significantly from its ATH down to the $285 area before the bulls stepped in to push it up.

From a price action technical analysis perspective on the monthly chart we can see that during that trip price crossed a defined change control zone 7 times...

See the zone...