ChartPros Market Insights

Paychex, Inc. (PAYX) reported fourth-quarter FY23 revenue growth of 7% year-over-year to $1.23 billion, beating the consensus of $1.22 billion.

The company's stock was down nearly 5% yesterday prior to the  announcement which came after market close. 

So does that mean the stock will pop right back up today because it surpassed earnings estimates? 

Perhaps, but maybe not...

Footwear giant Nike (NKE) reports earnings after the closing bell today.  The company's stock is currently trading around $113.50 which is well off its all time highs of $179.10 back in November 2021. 

From there price fell nearly $100 down to $82.22 this past October so investors are certainly hoping for a rebound to the good ole days...

Price recently broke above and has been holding a key level at $103.62.

The market is anticipating about a 7% move in either direction by the end of day Friday June 30, 2023. 

See where price could go...

Is it time to scoop up some General Mills (GIS)?

Maybe...

General Mills posted lower-than-expected sales for the latest quarter, while its full-year profit outlook was soft.  Shares were down over 6% in pre-market trading below $76.

Walgreens (WBA) announced its quarterly earning before the opening bell today and cut its profit forecast for the year as high inflation decreased sales of consumer healthcare goods and demand for COVID shots and tests. Its shares were down about 8% to $28.60 in pre-market trading Tuesday.

So is this the "bottom?"

We don't predict tops or bottoms rather, we use price action technical analysis to determine levels of interest in both directions because as traders we don't label ourselves bulls or bears.

Shares of the pharmaceutical company Moderna, Inc. (MRNA) are trading higher today just days after submitting an application to the Food and Drug Administration (FDA) for the authorization of an updated vaccine.  One analyst that follows the company upgraded the rating for Moderna from Neutral to Buy, while reducing the price target from $221 to $191.

But after opening today at $118 and change could this upgrade be premature?

It was announced last night that chemical manufacturer 3M (MMM) will pay at least $10.3 billion to settle lawsuits over contamination of many U.S. public drinking water systems.

The company's stock price has suffered significantly this year falling from the $130 area to a recent low near $92.50.

In after hours trading the stock was up about 5% from yesterday's $100.43 close trading as high as $106.74.

But does the settlement mean that the recent lows indicate that the stock has found a bottom and set to march upwards from here?

Investors sure hope so but technically speaking maybe not...

Chip maker Intel (INTC) is making headlines today and is down about 6% in pre-market trading to $32.90 as it announced manufacturing restructuring changes yesterday.

Based on the monthly chart more downside may be coming for the global company as one can clearly see a range that price has been bounced between seven times since 2001 and twice during the past year (roughly $25 to $37).

So is this price drop technical analysis or news driven?  Read on for our answer...

FedEx (FDX) was trading lower in after market hours following its June 20th earnings release and statement.  

The global express package delivery company missed on revenue forecasts but beat on earnings.  So what could that mean for the stock price?

See the anticipated price path and where investors or traders could possibly enter.

Adobe (ADBE) has been on an upside tear the past month melting up through possible resistance levels, much like the overall market indices.  Most notably on this chart is that price cruised through a "change control zone" without much pushback by the bears putting the bulls in control of this weekly chart for now. 

But can the bulls hold serve?

See our bi-directional levels of interest derived using the 5 price action tools native to every charting platform out there.

With 8 out the the last 12 days producing a green candle can the EUR/USD bulls keep pushing higher?

After creating a decisive bottom near 1.064 price has been charging hard towards a psychological "big round number" 1.10 including powering up and through a daily change control zone as if it didn't even exist...

The popular coffee chain Starbucks (SBUX) stock price has recently fallen to $101 from its recent $115 high just six short weeks ago.  Has the coffee maker done something wrong or different? 

We don't really know and frankly don't care because from a price action technical analysis perspective the stock is behaving in a normal and acceptable manner. 

Maybe not acceptable to investors but from a charting perspective yes.

Like many equities,  Advanced Micro Devices (AMD) has broken out to the upside in a forceful and meaningful way.  Unlike other charts like NVDA, AMD has what we like to call "two sided" price action.  Meaning, it's not trading at all time highs and has historical price action around these levels.

Recent headlines touting a "a potential super chip deal with Amazon" has AMD management and investors feeling optimistic.

See what could be next!