ChartPros Market Insights

Synchrony Financial (SYF), originally a spinoff of GE Capital's retail financing business, is the largest provider of private-label credit cards in the United States by both outstanding receivables and purchasing volume.

Historical price information on its chart goes back a little less than ten years, typically we like to feature a chart with more years data than this but in this case because price has moved in a technically correct fashion we'll take a look.

See what we discovered...

Vince Koehn, a long time ChartPros Trade Room member talks about his success with Apex Funded Trader program.

We frequently get asked about various funded trading programs and we've reviewed plenty of them but historically never participated in or recommended any of them.

Until recently.

Indiana based Zimmer Biomet (ZBH) is the nation's largest pure-play maker of orthopedic devices.

Trading around $105 today and well off its $180.36 all time highs (ATH) price has been making a series of lower lows and lower highs as it gravitates back down towards a trend line establish about a decade and a half ago.  We can clearly see this on the monthly chart applying price action technical analysis tools.

Today, Chevron (CVX) announced  it agreed to buy oil company Hess (HES) in an all-stock deal valued at $53 billion. It’s another major deal in the energy sector, which Chevron said would help support higher shareholder returns.

Typically when an acquisition like this is announced, the purchasing company's stock price declines with the announcement while the target company being bought stock price increases.

In this case we see this to be true on both fronts.

Western Digital Corp. (WDC) makers of digital storage devices plans to announce its first quarter fiscal year 2024 financial results before the market opens on Monday, October 30, 2023.

Today, Kioxia Holdings Corp. has approached Japan Investment Corp. about making a capital infusion to support its merger with Western Digital Corp. and strengthen the combined company’s financial base, according to people familiar with the matter.

What's more important to us is the price action technical analysis of their chart.

Truist Financial Corporation (TFC) reported $5.67 billion in revenue for the quarter ended September 2023, representing a year-over-year decline of 3%. EPS of $0.84 for the same period compares to $1.24 a year ago.

Analysts said blah, blah, blah...

We just look at chart from a price action technical analysis perspective. Not from a fundamental or news perspective.

With that in mind we set out to look at the monthly, weekly, and daily chart to identify potential levels of interest in both directions.

Third-quarter profits at Morgan Stanley (MS) dropped 9% from a year ago as revenue from investment banking and trading fell.

Investors expressed their disappointment by dropping the company's stock down about 7% earlier today. That puts the stock on track for its largest single-day drop in more than three years.

See where price could be heading...

Lockheed Martin (LMT), a leading global security and aerospace company, reported third-quarter earnings that beat estimates on both the top and bottom lines, but the company's margins were “disappointing,” according to some analysts that follow the company.

Investors and traders seemed to shrug off those comments as the stock is trading up about $5 in early action today near $450.

See where price could be heading...

Humana's (HUM) website states they're a leader in healthcare.  I've always perceived them to be an insurance company rather than a provider.  But that's just me and when looking at a chart it really doesn't matter to me what the company does or what I think they do.

On the monthly chart we can see price has been making higher highs and higher lows for over a decade. In price action technical analysis terms we call this an uptrend.

But how long can this pattern stay in place?  Quite simply as long as it wants to.

T-Mobile (TMUS) is listed as one of Warren Buffet's top 30 holdings so by default the stock gets a lot of attention.

We can see historically on the monthly chart a relatively clear cup and handle chart pattern formation that turned out to be very bullish as these patterns often can.  We're not real big on chart patterns, candle formations, etc but sometimes they can be so clear cut that we don't ignore them.

Instructure (INST) is an education technology company with a mission to elevate student success, amplify the power of teaching, and inspire everyone to learn together.

With only a few years of data since going public the chart has moved in a very technically correct manner with respect to price action technical analysis.

Since January 2023 price has been rangebound making six trips between roughly $23 and $28.50 with a mid point of about $26.

Today's chart came as a request from one of our new Trade Room members with a question "is there anything you can do on this chart since it almost went to $0??)

When you first take a look at the monthly chart you can see that yes, it actually almost went to $0... We typically call this type of chart a "flat liner" and stay away from it.

But in this case we took a deeper look...