ChartPros Market Insights

Carnival Cruise Lines (CCL) stock price seems to have set sail with two recent analyst upgrades from JP Morgan and Bank of America but will the cruise line operator's soaring stock price sink again?

Can the stock keep making a series of higher highs and higher lows since bottoming out?  If price were to pull back traders and investors may be interested in entering or adding to their positions around...

See the levels of interest!

Amazon (AMZN) is well off its all time highs of $188.65 but also well off its January 2023 $81.43 low.

So where does that put it?  Sort of right in the middle of its weekly chart but hard charging to the upside since mid March without much of a respite for the Amazon bulls.

Today we look at another forex chart, the Aussie Dollar AUD/USD.

It would seem like the bulls are large and in charge the past couple of weeks and gunning for 0.68 - 0.69 area.  But not so fast my friends...

Because on the daily chart price is now tip toeing as we like to call it through a change control zone.  So what exactly does that mean?

Find out now!

Have you heard about Tesla's stock price?

If you answered "of course I have" then you realize that after falling from its all time high of $414.50 (adjusted for stock splits) down below $110 when everyone was saying that Elon Musk might not really be that smart you also know that the electric vehicle (EV) maker has more than doubled since January 2023.

So what if you missed the train and want to hop aboard the Tesla express /aka/ its stock or related options.

Well, we've identified some potential upside targets as well as pull back levels that could possibly provide some reasonable reward to risk returns.

See Tesla's Stock Price Targets

Mmmmm..... Mmmmm..... Maybe....

Campbell Soup (CPB) beat Wall Street estimates for third-quarter profit on Wednesday as the maker of Pepperidge Farm cookies benefited from several quarters worth of price hikes.

However, shares of Campbell plummeted falling about 3% in premarket trading, after the company also maintained its annual sales and profit forecasts - a decision that some analysts attributed to a "prudent level of conservatism". 

See the Chart!

Today we take a look at what many 401K and other related retirement mutual funds are associated with - SPX and SPY and clarify their distinct differences.

SPX is only the symbol for the S&P500, you cant buy it directly, but you can trade it with CFD or via derivatives(Futures, options).

Many new traders confuse the SPY and the SPX, but the difference is evident when you search for the symbols in a trading platform.

See the Chart!

Historically, whenever VX has been under 20 the overall market sentiment has been bullish.

Taking a look at the weekly and daily VX charts traders can see that price is approaching some potential levels of support.

Does this mean that the markets will change on a dime?  Not necessarily...

See what's next!

Natural Gas /aka/ "Natty" ticker /NG has fallen over 65% since last Thanksgiving and has been melting through possible support levels but may have found its footing in the last 6-8 weeks.

Since reaching 1.946 on April 14, price has made a series of higher highs and higher lows and is on the rise today.

See what could be next...

Backlash against Anheuser Busch's (BUD) Bud Light brand continues to depress the stock's price but is it Technical Analysis or News?

One can certainly make the case for "news" given the company's marketing tactics that recently upset its loyal customer base.  On the other hand, the case can be also be made for "technical analysis" because price has been moving in a very technically correct fashion given the news events.

See what could be next...

Today we look into the Forex markets to check in on USD/CAD and notice that price is in familiar territory dating back to October 2022.

The zone between 1.357 and 1.365 has acted somewhat as a magnet with attempts to break away from that range in both directions but ultimately coming back and passing through it making 20 round trips during the last 8 months.

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While the New York Stock Exchange (NYSE) was closed Monday in observance of Memorial Day the global after-hours electronic trading system (GLOBEX) opened as normal Sunday evening at 6pm eastern time.  And given the US debt ceiling headline news over the long weekend the S&P 500 futures ticker /ES gapped up about 20 points on the open to keep the bulls firmly in control.

On the current ES weekly chart I've only marked it up with Support/Resistance and Trend. Also known as basic structure. In this view traders can see that price often ping pongs between historical levels before proceeding in its next direction.

If you'd like to enroll in the same exact Introduction to Price Action Trading using Support/Resistance and Trend course that I took earlier in my trading career we're offering it at an incredibly low price this week revealed at this link.

While most traders are buzzing about Nvidia's (NVDA) stock going supersonic and making new all time highs Micron (MU) is up significantly as well.  While maybe not quite a meteoric rise but one that has turned fruitful for some patient investors and traders.

With that said, Micron's stock price may be approaching some overhead resistance in the $74-$76 area.

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