ChartPros Market Insights

JPMorgan Chase & Co. (JPM) is an American multinational financial services firm headquartered in New York City and incorporated in Delaware. It is the largest bank in the United States and the world's largest bank by market capitalization as of 2023.

Some say that the stock could set new all time highs (ATH) in 2024 while others claim there could be more downside coming.

What we learned about this chart made us go hmmmm.....

Shares of Kraft Heinz (KHC) are trending up despite missing third-quarter revenue expectations. The company also announced a change in its 2023 fiscal year guidance, expecting organic net sales growth of 4-6% from the previous year, as well as establishing global leadership teams to expand growth.

Upon first glance of its monthly chart our first thought was who thought mixing cheese and ketchup was a good idea...

You may think the same thing too when you see the charts. 

Moody's Corporation (MCO) is listed as one of Berkshire Hathaway's top 30 holdings so by default the company gets a lot of attention.

They recently reported third-quarter 2023 adjusted earnings of $2.43 per share, which handily beat the Zacks Consensus Estimate of $2.35. The bottom line also jumped 31% from the year-ago quarter figure.

All sounds like pretty good fundamental information to people like Warren Buffet, often referred to as the "Oracle of Omaha." 

But we prefer looking at a chart with a price action technical analysis lens.

Some analysts are raising their price targets and say Northrop Grumman (NOC) is a leading global defense contractor, providing systems integration, defense electronics, information technology, and advanced aircraft and space technology. The shares are a component of the S&P 500. The company has 95,000 employees.

On the company website it states "Whether it’s making a 200-ton airplane invisible, predicting cyber-attacks before they happen or solving the mysteries of the universe, wherever the boundaries of possible are being pushed, Northrop Grumman is there." 

The latter sounds way cooler to us!  

Regardless of how the company is characterized wait until you see why its chart comes into focus today!

Whirlpool (WHR) shares fell after the appliance maker cut its full-year guidance despite reporting third quarter results that beat estimates.

Shares were down about 5% today trading briefly under $100.  This is dramatically off its $257.68 all time highs (ATH) during the spring of 2021.

See the 13+ year trend line that price could potentially be heading for...

Merck & Co (MRK) reported higher-than-expected third-quarter results on strong demand for its COVID-19 treatment, primarily in Japan, and raised its sales forecast for the drug.

It was about a year ago the company's stock price catapulted to new $119.65 all time highs (ATH) that had previously been set over 20 years ago.

On the monthly chart we can see since breaking the previous $96.69 ATH price has revisited it once already and may want to do so again.

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.