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October 18 Chart of the Day - CVS

October 18 Chart of the Day - CVS

CVS Health Corp (CVS) extended heavy losses after the company withdrew its profit guidance and named a new CEO.

According to published reports, CVS said it expected adjusted profit of $1.05 to $1.10 per share for the quarter ended Sept. 30 compared to analysts' estimates of $1.70... 

Yada, Yada, Yada...

Wait until you see where the most important level on their chart is!

October 17 Chart of the Day - Netflix

October 17 Chart of the Day - Netflix

Netflix (NFLX) earnings are coming after the bell Thursday, with analysts generally bullish on their stock so we wanted to provide a price action technical analysis review.

See where price could go by this Friday.

October 16 Chart of the Day - ASML

October 16 Chart of the Day - ASML

ASML Holding (ASML) extended heavy losses after the company trimmed its guidance, igniting a semiconductor stock sell-off.

After falling another 7% today price is in search of a definitive bottom...

See where that could be.

October 15 Chart of the Day - Silver

October 15 Chart of the Day - Silver
Silver has risen steadily this past year trying to keep pace with big brother "Gold"
 
But Gold has made fresh ATHs whereas Silver has not (yet).
 
Wait until you see the chart formation we found and where price could be heading next.

October 14 Chart of the Day - S&P 500

October 14 Chart of the Day - S&P 500

The S&P 500 futures (ticker /ES) are making fresh new all time highs (ATH) again today...

A frequently asked question we get is "high how can the markets go?"

The simple answer is "nobody knows with any certainty but basically the markets can go as high as they want to..."

Whenever price is at or near all time highs the only two price action tools we can use to estimate upside targets are Fibonacci and Trend.

See the price action technical analysis estimated upside price targets for the S&P 500 using Fibonacci and Trend.

October 11 Chart of the Day - Stellantis

October 11 Chart of the Day - Stellantis

With 24 brands, Stellantis was the world's fourth-largest automaker by sales, behind Toyota, Volkswagen Group, and Hyundai Motor Group at the end of 2023.

The company has been making recent headlines as the CFO was ousted and the CEO announced his retirement so we wanted to review their chart from a price action technical analysis perspective.

Stellantis portfolio companies include several familiar names.

October 10 Chart of the Day - Fastenal

October 10 Chart of the Day - Fastenal
Industrial supplier Fastenal (FAST) reports earnings before market open on Friday.

This quarter, analysts are reportedly expecting Fastenal’s revenue to grow 3.2% year on year to $1.90 billion, in line with the 2.4% increase it recorded in the same quarter last year.  Adjusted earnings are expected to come in at blah, blah, blah...

The only thing we want to see is the price action technical analysis for their chart.

October 9 Chart of the Day - Monster Beverage Corporation

October 9 Chart of the Day - Monster Beverage Corporation

Monster Beverage Corporation (MNST) manufactures energy drinks including Monster Energy, Relentless, Reign and Burn. 

The company has been in the headlines recently for providing above average return on equity so we wanted to review their chart from a price action technical analysis perspective.

 

October 8 Chart of the Day - Richardson Electronics

October 8 Chart of the Day - Richardson Electronics
For over 75 years, Richardson Electronics, Ltd. (RELL) has been a provider of engineered solutions, power grid and microwave tubes and related consumables; power conversion and RF and microwave components and replacement parts for diagnostic imaging equipment; and customized display solutions.

The company reports earnings after market close on Wednesday and by request we'll be reviewing their chart from a price action technical analysis perspective.

October 7 Chart of the Day - Pepsi

October 7 Chart of the Day - Pepsi

Food and beverage company PepsiCo (PEP) will be reporting results Tuesday before market open.

This quarter, analysts are expecting PepsiCo’s revenue to grow 1.4% year on year to $23.78 billion, slowing from the 6.7% increase it recorded in the same quarter last year. Adjusted earnings are expected to come in at blah blah blah...

The only thing we really care about is the price action technical analysis for their chart!

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October 4 Chart of the Day - Diamondback Energy

October 4 Chart of the Day - Diamondback Energy

Diamondback Energy (FANG), a leading company that primarily focuses on finding and producing oil and natural gas in the Permian Basin, West Texas, that is known for its rich energy resources, is experiencing a surge in investor interest.

Reportedly, the reasons include heightened oil risks in the Middle East and recent strategic relationship expansion.

Coming off recent all time highs see where price could be heading next after making a classic "break and retest" move.