ChartPros Market Insights

Smith and Wesson (SWBI) reported better-than-expected financial results on Thursday and their stock is trading about 10% higher today up near $12 a share.

Yeah ok, but from a price action technical analysis perspective does any of that really mean anything to us?

Not really.

We're chartists and traders/investors that only focus on price action.

See where price could be heading... 

Cisco Systems (CSCO) is trading in the $60 area again for only the third time since 2018 and before that it was 20+ years ago.

So are those levels here to stay?  Maybe... but maybe not.

Charles Schwab’s (SCHW) Labor Day weekend conversion of TD Ameritrade accounts seems to have gone off without any major incidents.

Last month the company said that it continues to lose retail customers following its merger with TD Ameritrade that was announced in late 2019.

Overall, the stock price is down about 25% this year. 

See what could happen next...

Since bottoming in April 2020 at $17.01 price has been making a series of higher highs and higher lows. By definition, a clear uptrend.

Recently creating new all time highs (ATH) at $70.65 the stock is trading at $68.57 today so perhaps taking a breather? 

Maybe, but where could price be heading we wondered...

• Billions (the hit series on Showtime)
• Shark Tank
• Blue Bloods (my dad is a retired police officer)
• Trading Education Courses...

Yes, Trading Education Courses!

See which ones...

Lululemon (LULU) said second-quarter revenue increased 18% year-over-year to $2.21 billion, which beat the consensus estimate of $2.17 billion, according to Benzinga Pro. The company reported quarterly earnings of $2.68 per share, which beat analyst estimates of $2.54 per share.

In looking at the monthly chart price seemingly has been ping ponging within a range roughly between $300 to $400 occasionally and temporarily moving above or below it for the past three years.

See how we chart within defined ranges like this...

Salesforce (CRM) jumped almost 6% in pre-market trading on Thursday following its better than expected second quarter earnings call where AI efforts took center stage.

Price recently back tested and held a figurative line in the sand level around $200 and hasn't looked back since.

All while traversing through a change control zone between $201.51 and $209.95 a dozen times since August of 2020.  

See where price could be heading...

Rex American Resources Corporation (REX) is a leading U.S. producer of ethanol, a renewable, cleaner-burning fuel that reported earning before the market open today.

In looking at yesterday's $41.63 high of the day price seemingly "broke out" above structure and created new all time highs (ATH).

But after the market opened today this looks more like a "fake out" rather than a "break out".

At least for now...

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As many people may know, the Coca-Cola (KO) company is one of Warren Buffet's top 5 holdings. And has been for quite some time.

With price moving sideways and essentially consolidating forming a "change control zone" on the weekly chart might price be setting up for its next big move?

If you've been following our Chart of the Day posts and have benefited from one or more of them we ask that you consider participating our NEW Pay It Forward - Traders Helping Traders program.

The iShares 20+ Year Treasury Bond ETF  (TLT) seeks to track the investment results of an index composed of U.S. Treasury bonds with remaining maturities greater than twenty years.

TLT and its related securities have been making recent headlines as their trading prices have reached price levels not seen this low in over a decade.

So where could TLT price be going?  We wanted to take a look...

Advanced Auto Parts (AAP), like other retailers, continued its downward spiral this week.

For the monthly and weekly chart we'll only use support/resistance and trend as taught in our MOST POPULAR Introduction to Price Action Trading Course to determine where price could be going...

Currently down another 5% today to $64.18 it appears that price may have an upcoming decision to make around the $60 area...

Yesterday we looked at the NVIDIA (NVDA) prior to their earnings release and its after hours parabolic rise using the "Magic of Fibonacci" to project potential upside targets.

Today we'll take a look at the actual results.