ChartPros Market Insights

Freeport-McMoRan, Inc. (FCX), a leading international mining company released earnings before the market open today and was trading up nearly 10% to $41 and change earlier today before fading back under $40.

From a price action technical analysis perspective, on the monthly chart we can see a change control zone roughly between $36 and $39 that first started to form back in 2006.

Price has criss crossed this zone over 36 times during that time span and even more so down on the weekly chart.

IBM is making headlines this week with respect to its watsonx Generative AI.  And looking at their chart it seems as if the sleeping giant has awoken...

In looking at the monthly chart from a price action technical analysis perspective price has been making a series of higher highs and higher lows since the global pandemic started back in 2020 and a definitive low was set just under $100.

Like many global companies IBM has weathered many storms, re-invented itself a few times (keep in mind IBM stands for International Business Machines and was once famous for making typewriters), and is still a force across the globe.

Archer-Daniels-Midland (ADM) stock price is plunging today as the company placed its CFO on administrative leave and cut its earning outlook in the midst of an investigation into its accounting practices.

Investors seem panicked as price has dropped 22% today trading below $53 and well off its $98.88 all time high (ATH) set in April of 2022.

Plug Power (PLUG) is down another 15% today after the company filed for a potential $1 billion share offering. The company is down over 88% over the last two years and recently issued a "going concern" warning meaning not so good things could happen for the company...

We chose their chart to review from a price action technical analysis perspective to highlight a few but major points regarding any company or chart (remember Blackberry?)

Shares of low-cost air carrier Spirit Airlines (SAVE) fell roughly 17% earlier today, one day after a judge blocked the airline's planned $3.8 billion merger with JetBlue Airways.

With a recent focus on the airline industry including prior Charts of the Day for Alaskan Airlines, American Airlines, Delta, Jet Blue, and Boeing we wanted to also analyze Spirit Airlines chart from a price action technical analysis perspective.

Shares of airline stocks are trading lower in sympathy with Delta, which dropped after recently reporting fourth-quarter results and issuing 2024 guidance...

American Airlines was trading at $12.91 earlier today and is down over 11% in just the last week.

So with a recent focus on the airline industry including prior Charts of the Day for Alaskan Airlines, Jet Blue, and Boeing we wanted to also analyze American Airlines chart from a price action technical analysis perspective.

Goodyear Tire and Rubber Company (GT) is putting a tech spin onto traditional tires with a new line of "intelligent tires."

To be perfectly honest, the first thing that comes to mind when we think of Goodyear is their blimp!

Mettler Toledo (MTD) is a multinational manufacturer of scales and analytical instruments. It is the largest provider of weighing instruments for use in laboratory, industrial, and food retailing applications.

The company has been making headlines this past week for revising future guidance downward again due to blah blah blah...

So we wanted to view their chart from a price action technical analysis perspective.

Dallas based Texas Instruments Incorporated (TXN) designs and manufactures semiconductors and various integrated circuits. It is one of the top 10 semiconductor companies worldwide based on sales volume.

The company is in the headlines this week for introducing a new automotive chip at the Consumer Electronics Show (CES) claiming it can allow for safer vehicles.

Safer always sounds better doesn't it?

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

Bloomberg is reporting that JetBlue Airways Corp. (JBLU) Chief Executive Officer Robin Hayes will step down next month after leading the carrier through a recent failed partnership with one airline and the pending acquisition of another.

Stating personal health reasons the CEO will be replaced by Joanna Geraghty, 20 year Jet Blue employee and the company's current president.

Amid all the turbulence during the last year the company's stock was down well over a third and fell another 10% to $5.15 earlier today.

Price made a 10+ year low a few short months ago at $3.40 so we wanted to take a look at the chart from a price action technical analysis perspective.

You may have heard that passengers aboard an Alaska Airlines (ALK) flight last week experienced a major scare, as an emergency exit-sized gap suddenly appeared in the side of the plane, leading to a rapid decompression. The plane was en route from Portland to Ontario, California, when the incident occurred.

As per a report by The Wall Street Journal, the flight took off on Friday afternoon and was forced to return to Portland International Airport within 30 minutes. The plane, at 16,000 feet, had 171 passengers and six crew members on board, all of whom survived the frightening ordeal.

Thank God everyone survived!

This has put the airline as well as the plane's manufacturer Boeing (BA Chart of the Day on 12/8/2023) squarely in the headlines with a lot of scrutiny on safety.  As a result, both company's respective stock prices are trading down today.