ChartPros Market Insights

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...

Pepsico, Inc. (PEP) has fallen significantly from its $196.88 all time high (ATH) earlier this year and is trading in the $165 area today.

Whenever charting something for the first time we always start on a higher time frame monthly chart to build out support/resistance and trend.

More times than not we'll then go down to a weekly or daily chart to identify potential levels of interest in both ways.

However, on this chart we prefer the monthly time frame to cancel out some of the "noise" on lower time frame charts.

Sturm, Ruger & Co., Inc. (RGR) is one of the nation's leading manufacturers of rugged, reliable firearms for the commercial sporting market. With products made in America, Ruger offers consumers almost 800 variations of more than 40 product lines, across both the Ruger and Marlin brands. 

The monthly chart for Ruger could be described as "a bunch of lines and confusion..."

So whenever this happens we'll drill down a time frame or two and see if anything interesting presents itself.  And in this case it does.

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Exxon Mobil (XOM) is the world's largest nongovernment-owned energy company.  Today we'll take a look at the company's chart using only Support / Resistance and Trend as taught in our MOST POPULAR price action technical analysis course.

On the monthly chart we can see price retreating from its $120.70 all time high (ATH) back down towards previous structure.

One could develop a trade plan simply from this chart without costly indicators, signals, studies...

Constellation Brands, Inc. (STZ) is a provider of premium wine, the number one beer importer and the number three beer company in the U.S.

The company’s brand portfolio includes Corona Extra, Corona Light, Modelo Especial, Modelo Negra, Pacifico, Ballast Point, Robert Mondavi, Clos du Bois, Kim Crawford, Meiomi, Mark West, Franciscan Estate, Ruffino, Jackson-Triggs, SVEDKA Vodka and Casa Noble Tequila.

According to published reports, Visa (V) is one of Warren Buffet's top 30 holdings so beyond the typical news cycles the company receives attention for being on the "Oracle of Omaha's" most cherished list.

But is the company worthy of all the extra attention?  Maybe...

From a price action technical analysis perspective we really don't care whose list a company may be on or what analysts think or say about a company.

All we care about is price action.