Stock Market News and Analysis Live Today: The Ultimate Source

Rubrik leads trio of stock debuts in busy day for IPOs

Rubrik prices above range, while aviation parts maker Loar and financial services firm Marex also debut

3 top investment trusts that ‘green’ up my Stocks and Shares ISA

I’ll be buying more of these investment trusts for my Stocks and Shares ISA given the sustainable and stable returns they offer. The post 3 top investment trusts that ‘green’ up my Stocks and Shares ISA appeared first on The Motley Fool UK.

AAL Earnings: Key quarterly highlights from American Airlines’ Q1 2024 financial results

American Airlines Group Inc. (NASDAQ: AAL) reported its first quarter 2024 earnings results today. Total operating revenues increased 3.1% year-over-year to $12.5 billion. Net loss amounted to $312 million, or $0.48 […] The post AAL Earnings: Key quarterly highlights from American Airlines’ Q1 2024 financial results first appeared on AlphaStreet.

Altria’s earnings top estimates and tobacco company reaffirms full-year guidance

Altria Group Inc. matched profit estimates for the first quarter, while revenue net of excise taxes squeezed a small beat and the company backed its full-year guidance, reiterating its stance that there will be limited impact from enforcement efforts in the illicit e-vapor market in 2024.

Comcast earnings beat expectations as Peacock losses narrow

Comcast scored a profit beat for the latest quarter, and that seemed to be overshadowing another drop in broadband subscribers.

Royal Caribbean’s stock rallies toward a record on ‘very robust’ cruise demand

There were a lot of records associated with Royal Caribbean’s first-quarter report, including ticket pricing, bookings and the stock, as demand for cruises remained “very robust.”

IPO-bound BankBazaar.com reports 26% revenue growth in FY24, losses nearly flat

To fuel its growth requirements, the company has secured over Rs 50 crore in two independent debt financing rounds led by Tata Capital and Nuvama Asset Management. BankBazaar, which has raised around $116 million in equity so far, is also in the process of raising another round of equity in the ongoing Series D2 round.

8.6% or 7.2%? Does the Legal & General or Aviva dividend look better?

The Aviva dividend tempts our writer. But so does the payout from Legal & General. Here he explains why he'd happily own both -- and which he'd buy first. The post 8.6% or 7.2%? Does the Legal & General or Aviva dividend look better? appeared first on The Motley Fool UK.

FIIs, MFs trim stakes in these 6 stocks for 3 straight quarters

Stock market update: Stocks that hit 52-week lows on NSE in today's trade

Kotak Bank, LTIMindtree, HUL, Titan Company and SBI Life were among the top losers on NSE in today's trade.

Simpson Manufacturing: Buy This Future Dividend King While Down

Simpson Manufacturing is a company stock on track to be crowned Dividend King one day, making it an attractive opportunity for investors today.

Are Persimmon shares a bargain hiding in plain sight?

Persimmon shares have struggled in 2024, so far. But today's trading update suggests sentiment in the housing market's already improving. The post Are Persimmon shares a bargain hiding in plain sight? appeared first on The Motley Fool UK.

Stock market update: Nifty Bank index advances 0.63%

The Nifty Bank index closed 0.63 per cent up at 48494.95.

Stock market update: Fertilisers stocks down as market rises

The 30-share BSE Sensex closed up 486.5 points at 74339.44

Here’s why the Unilever share price is soaring after Q1 earnings

Stephen Wright isn’t surprised to see the Unilever share price rising as the company’s Q1 results show it’s executing on its strategy. The post Here’s why the Unilever share price is soaring after Q1 earnings appeared first on The Motley Fool UK.

Stock market update: Stocks that hit 52-week highs on NSE in today's trade

Raj Oil Mills, Kirloskar Pneumatic, ABB Power, GPT Infraproj and MOIL, hit their fresh 52-week highs during the day.

Barclays’ share price jumps 5% on Q1 news. Will it soon be too late to buy?

The Barclays share price has been having a great time this year, as a solid Q1 gives it another boost. Is this the long-awaited recovery? The post Barclays’ share price jumps 5% on Q1 news. Will it soon be too late to buy? appeared first on The Motley Fool UK.

IndusInd Bank Q4 Results: Profit jumps 15% YoY to Rs 2,347 crore, beats estimates

IndusInd Bank Q4 Results: The private sector lender also announced a dividend of Rs 16.5 per share. IndusInd's provisions were down 3.8% quarter-on-quarter to Rs 899 crore while its gross NPA and net NPA ratios

Stock market update: Power stocks up as market rises

The 30-share BSE Sensex closed up 486.5 points at 74339.44

Tech Mahindra Q4 Results: PAT plunges 41% YoY to Rs 661 cr; Rs 28/share dividend declared

Tech Mahindra Q4 Results: Tech Mahindra reported a 41% YoY drop in March quarter net profit to Rs 661 crore. Revenue fell 6.2% YoY to Rs 12,871.30 crore. FY24 PAT was Rs 2,396.80 crore.

3 FTSE stocks I wouldn’t ‘Sell in May’

If the strategy had any merit in the past, I see no compelling evidence it's a smart idea today. Here are just three of many UK stocks I'd far rather buy (or hold) than sell. The post 3 FTSE stocks I wouldn’t ‘Sell in May’ appeared first on The Motley Fool UK.

European stocks slip as mixed earnings offset M&A cheer

European stocks slipped on Thursday following mixed earnings from blue-chip companies such as Nestle and Deutsche Bank, while big M&A news in the mining sector powered Britain's FTSE 100 to fresh highs.

Down 21% and yielding 10%, is this income stock a top contrarian buy now?

Despite its falling share price, this Fool reckons he's found an income stock that could be worth taking a closer look at. Here he explains why. The post Down 21% and yielding 10%, is this income stock a top contrarian buy now? appeared first on The Motley Fool UK.

Sensex jumps over 450 points: 4 key factors behind the bull run on Dalal Street

Axis Bank emerged as the primary driver of Thursday's market rally, soaring over 6% following robust quarterly earnings.

Indian Hotels shares fall 5.05% as Nifty gains

A total of 360,820 shares changed hands on the counter till time (IST).

Portfolio strategy: 4 financial lessons from bridge collapse

Investing is like navigating unpredictable waters. Lessons from navigating investments, personal experiences stress the importance of financial prudence, risk management, and foresight in ensuring a secure financial future.

Godrej Consumer declines 0.78% as Sensex climbs

The stock traded at a P/E multiple of 69.37, while the price-to-book value ratio stood at 7.18.

10% Downside Risk For Stocks as Value Takes The Lead

Value taking the lead from growthThe weekly RRG above shows the rotation for Growth vs Value stocks. The benchmark is the DJ US index. The recent rotation clearly shows the rotation out of growth into value, taking shape and picking up steam. For now, Growth is still positioned on the right-hand side of the RRG, but the $DJUSGR tail is rapidly heading toward the lagging quadrant at a negative RRG-Heading.The daily version of this RRG underscores the preference for Value stocks.The $DJUSVA tail dropped into the weakening quadrant after a rotation through leading since mid-March and sharply hooked back up after one day inside the lagging quadrant and is now returning into the leading quadrant, supporting a further strengthening for the Value tail on the weekly time-frame.$SPX usually tracks the Growth/Value ratio pretty goodPlotting the Growth/Value ratio on top of the price chart for $SPX shows that they have tracked each other quite well over time. This is a monthly chart, so we're discussing long-term trends here.The main takeaway here is that the S&P usually does well when the growth/value ratio goes up and less well when the ratio moves lower.With the RRG currently showing a strong preference for Value stocks, caution is warranted as this might be the precursor for a further decline in the S&P 500 itself.The preference for value over growth shows up across all size segmentsWhen we break down the Growth and Value segments into their respective size buckets, we get the RRG above. This shows that value beats growth across all size segments. Large-, Mid-, and Small-cap Value tails are all inside the improving quadrant and moving at a positive RRG-Heading.The growth tails are slightly more divided, but all three are on a negative RRG-Heading, with large-cap growth showing the fastest deterioration. Mid-Cap is the most stable, with its short tail just inside the weakening quadrant. While small-cap growth stocks have rolled over inside the leading quadrant and are starting to head lower on both scales.All in all, this underscores the need for caution regarding price developments for the S&P 500 in the coming weeks.5%-10% downside risk within long-term uptrendOn the weekly chart, SPY found support at the level of the former rising resistance line at around 494. More important support is found at the level of the January-2022 peak at 480, and in case that breaks, the area around 460 will provide another solid support area. With the current longer-term trend of higher highs and higher lows still firmly in place, we have to conclude that the uptrend is still in play.But at the same time, we have to realize that within that uptrend, a 5-10% decline is perfectly possible.The more detailed daily chart of SPY shows that the decline from the recent peak at 524 back to the low near 495, which is one move lower on the weekly chart, is already showing lower highs and lower lows, which means that rallies now have to be seen as up-ticks within a downtrend until this structure changes again.The green-shaded areas represent the support levels mentioned on the weekly chart. New buying opportunities within the long-term uptrend should start to arise in these ranges.Rotation into defensive sectors confirms risk-offFinally, the daily RRG for defensive sectors shows a rapid rotation into Health care, Consumer Staples, and Utilities in the last two weeks of trading, which confirms the need for caution in the coming weeks.#StayAlert, --Julius

What's Really Driving Tesla's Surprising Stock Surge?

Tesla's (TSLA) first-quarter earnings reported after Tuesday's market close was lackluster, bordering on disastrous. Yet the stock jumped 16% Wednesday morning, ripping open a wide breakaway gap from the previous day's close. What happened? Well, Elon Musk framed the dismal numbers with a compelling narrative that elevated its underperformance into a story about future growth. But does the story have enough fundamental fuel to break above the FOMO?From Sinking Ship to SkyrocketHere's a brief account of what happened on Tuesday: TSLA's revenue in the quarter fell by 9%, its vehicle production and deliveries were also down 2% and 9%, respectively, its operating income and adjusted EPS plunged by 56% and 47%, and its operating cash flow cratered by 90%.These figures alone would have tanked TSLA's stock price. So, what happened? Musk got TSLA prices flying with two sentences that essentially said the company is expediting the building of cheaper EVs based on the current models. Cheaper Tesla EVs mean a surge in demand and, by extension, growth.TSLA Stock: A Macro LookClick here for a live chart. In the weekly chart of TSLA below, the stock has been trading lower since peaking in October 2021 (even considering its attempt at recovery in early 2003). TSLA's stock price is close to its 2023 low.CHART 1. WEEKLY CHART OF TSLA. Despite the recovery attempt in early 2023, the longer-term trend has been down since 2021.Chart source: StockCharts.com. For educational purposes.Currently, TSLA holds one of the worst StockCharts Technical Rank (SCTR) scores at 2.2, a few steps from zero. While the leading EV maker's performance was in sync with its industry ($DJUSAU), it badly underperformed the S&P 500 by more than -45%.Flying High on FOMO?Click here for a live chart.Now, take a look at the near-term price action in the daily chart of TSLA (see below). The stock exhibited a sudden burst of escape velocity to the upside after hitting a 52-week low.CHART 2. DAILY CHART OF TSLA. Breakaway gaps are bullish, TSLA's narrative is also bullish, but the rest of the technicals are iffy.Chart source: StockCharts.com. For educational purposes.Breakaway gaps toward the upside are characterized by a powerful shift driven by intense sentiment. They rarely get filled right away.TSLA's 16% post-earnings gap is a strong bullish gesture, but notice the strong rejection in the current candle. This indicates, if anything, that the volume driving the gap may not be enough to give it a follow-through in the coming sessions (it's a wait-and-see moment). While the Money Flow Index (MFI) and Chaikin Money Flow (CMF) (the latter dipping back below the zero line) show an ever-so-slight divergence which might be interpreted as bullish, any surge from this point on will face a few technical headwinds above.TSLA is trading below its 50-day simple moving average, but if it crosses above it, note the critical resistance areas at the $180 and $205 range.Bullish or Bearish?One day's surge, no matter how impressive, doesn't define a trend. Likewise, a strong twist in the fundamental narrative doesn't mark a change in the story. As far as price targets are concerned, a survey of 30 analysts shows a wide range from a shocking $23 on the low end, a median target of $185, and a high range upwards of $310 to cap it off.Right now, everything is riding on the promises of production. As seasoned traders know, holding out for confirmation is usually the smart play. The technical indicators map out key short-term and long-term levels, giving you a clearer view of the battleground where all this drama will play out.Disclaimer: This blog is for educational purposes only and should not be construed as financial advice. The ideas and strategies should never be used without first assessing your own personal and financial situation, or without consulting a financial professional.

IBM reports Q1 results. Here’s everything you need to know

International Business Machines Corporation (NYSE: IBM) Wednesday announced operating results for the first quarter of 2024, reporting higher revenues and adjusted earnings. Total revenues were $14.46 billion in the first […] The post IBM reports Q1 results. Here’s everything you need to know first appeared on AlphaStreet.

Pinpoint the Next Buying Opportunity in SPY

On this week's edition of Stock Talk with Joe Rabil, Joe uses the MACD to analyze SPY and shares what to look for to find the next buy point. Joe then analyzes stocks including ADBE, XOM, and CRM.This video was originally published on April 24, 2024. Click this link to watch on StockCharts TV.Archived episodes of the show are available at this link. Send symbol requests to This email address is being protected from spambots. You need JavaScript enabled to view it.; you can also submit a request in the comments section below the video on YouTube. Symbol Requests can be sent in throughout the week prior to the next show.

IBM Q1 2024 Earnings: Stay tuned for the live earnings call and real-time transcript

Information technology giant International Business Machines Corporation (NYSE: IBM)  is scheduled to report first-quarter 2024 results today after the bell. Listen to IBM’s earnings call live and check the real-time […] The post IBM Q1 2024 Earnings: Stay tuned for the live earnings call and real-time transcript first appeared on AlphaStreet.

High-Yield Texas Instruments Could Hit New Highs Soon

Texas Instruments struggled in Q1, but details indicate a trough in the cycle and a return to growth ahead. Analysts are raising their price targets.

Higher Oil Prices Could Give NextEra’s Stock Earnings a Boost

Rising oil prices could make alternative energy stocks like NextEra the next best thing for investors to buy, secular trends in A.I. and Florida help valuations

GE Aerospace is Ready for Liftoff After Strong Earnings

GE stock is up sharply after a double beat; the company will be known as GE Aerospace going forward, and a bullish outlook may raise analysts' price targets

The Bottom is in For Tesla: Read This Before Buying the Bounce

Tesla had a tough quarter with deliveries and revenue down, a peak in TTM growth, and rising costs cutting into the cash pile.

BA Earnings: Highlights of Boeing’s Q1 2024 financial results

The Boeing Company (NYSE: BA) on Wednesday announced financial results for the first quarter of 2024, reporting a narrower net loss, on an adjusted basis. Revenues dropped 8%. Core loss, […] The post BA Earnings: Highlights of Boeing’s Q1 2024 financial results first appeared on AlphaStreet.

Is Zoom Video Stock Getting Too Cheap to Pass Up?

Zoom Video Communications Inc. (NASDAQ: ZM) shares hit a new 52-week low despite improvements indicating normalization may be near completion in its business

Packaging Corporation of America: Buy The Dip

Packaging Corporation of America fell into the buy zone after tepid guidance led the market to reset expectations and align with analysts' sentiment

United Parcel Service Is Setting Up for Another Fall

United Parcel Service struggled in Q1 and isn't guiding for much better later in the year, setting the stock up for a fall that could set new lows

Users Refuse to Give Up On Spotify, So Does Wall Street

Spotify earnings showed investors that it's current premium valuation is more than justified, double-digit upside and EPS growth lies ahead for the name

V Earnings: All you need to know about Visa’s Q2 2024 earnings results

Visa (NYSE: V) reported its second quarter 2024 earnings results today. Net revenue increased 10% year-over-year to $8.8 billion. GAAP net income grew 10% to $4.7 billion and EPS rose […] The post V Earnings: All you need to know about Visa’s Q2 2024 earnings results first appeared on AlphaStreet.

Key takeaways from PepsiCo’s Q1 2024 earnings report

Shares of PepsiCo, Inc. (NASDAQ: PEP) were down over 2% on Tuesday, despite the company delivering better-than-expected results for the first quarter of 2024. The top and bottom line numbers […] The post Key takeaways from PepsiCo’s Q1 2024 earnings report first appeared on AlphaStreet.

ICICI Prudential Life Insurance to focus on growing absolute VNB amid slump in FY24

In its Q4FY24 results, the company#39;s VNB fell 19.45 percent to Rs 2,227 crore for FY24

Trade setup for Wednesday: 15 things to know before opening bell

Based on the OI percentage, a total of 74 stocks were on the short-covering list which included Vodafone Idea, IndiaMART InterMESH, Biocon, Page Industries, and Sun TV Network.

Bulk deals: Societe Generale, Marshall Wace active in Bandhan Bank, BoB and Manappuram Finance

In other trades, Foregin investor Ardisia sold stake in Ujjivan Financial Services

Infographic: Highlights of Halliburton’s (HAL) Q1 2024 earnings results

Energy giant Halliburton Company (NYSE: HAL) Tuesday announced financial results for the first quarter of 2024, reporting lower earnings and a modest increase in revenues. First-quarter revenue edged up 2% […] The post Infographic: Highlights of Halliburton’s (HAL) Q1 2024 earnings results first appeared on AlphaStreet.

IIHMR University launches certificate course on digital healthcare

The objective behind launching this course is to develop healthcare professionals with an understanding of digital health innovations

Infographic: Key metrics from Kimberly-Clark’s (KMB) Q1 2024 earnings results

Kimberly-Clark Corporation (NYSE: KMB) reported its first quarter 2024 earnings results today. Net sales of $5.1 billion were down 1% year-over-year. Organic sales grew 6%. Net income attributable to Kimberly-Clark […] The post Infographic: Key metrics from Kimberly-Clark’s (KMB) Q1 2024 earnings results first appeared on AlphaStreet.

Lockheed Martin Stock Aims for a Fresh All-Time High

Lockheed Martin is a solid dividend-paying stock with a relatively high 2.75% yield, and it is growing, outperforming consensus estimates.

Beyond the Halving: The Future of Bitcoin Mining Stocks

The Bitcoin halving event presents challenges and opportunities for mining companies, necessitating adaptation and innovation to thrive in the evolving sector.

Tata Elxsi Q4 net profit, revenue decline QoQ; firm declares dividend of Rs 70 per share

The net profit was down 4.6 percent quarter-on-quarter compared to the October to December period of FY24 and 2.32 percent against the March quarter of FY23

Extreme Networks Snags an Upgrade on Inventory Normalization

Extreme Networks Inc. (NASDAQ: EXTR) is a cloud-driven networking solutions provider that serves three seemingly “recession-proof” industries: government

ICICI Pru Life Q4 net profit falls 26% to Rs 174 cr, insurer announces dividend

Net premium income rose to Rs 14,788 crore

Cyient DLM#39;s profit after tax in FY24 surges 93%

For the full year, the company#39;s revenue stood at Rs 1,192 crore, which was 43.2 percent higher compared to the same period of the past financial year

Technical View: 22,500 crucial for further upside in Nifty, India VIX at 9-month low

The monthly options data suggested that the Nifty may face hurdle at 22,400-22,500 levels on the higher side, with crucial support at 22,000 level.

3 A.I. Stocks to Watch Out For Not Named NVIDIA

Three stocks come to steal the technology and artificial intelligence spotlight from Nvidia. Strong fundamentals and discounts give investor access to upside

IMAX: How It’s Still Cashing In on the Movie Business

IMAX stock is worth a look as the company swings back to profitability, expands its global reach and moves its technology into non-traditional venues

Week Ahead: Mild Technical Pullbacks Likely; NIFTY Remains Prone to Selling Pressure at Higher Levels

In the truncated week, the markets looked largely corrective, as the key indices lost ground during the week. In the previous technical note, it was mentioned that, on the one hand, no runaway moves should be expected, and on the other hand, the support for Nifty exists much below at 20-week MA. The markets ended up trading precisely on the expected lines. Not only they did not move higher, but also ended up testing the mentioned support level. The trading range got wider as the Nifty oscillated in a 649.80-point range during the truncated week. The volatility spiked; IndiaVix surged by 16.69% to 13.46. The headline index Nifty closed the week with a net weekly loss of 372.40 points (-1.65%).From a technical perspective, the markets have dragged their resistance points lower. While the high point of 22775 has become an intermediate top for the Nifty, the immediate resistance has been dragged lower to 22427, which is the high of the previous week. On the other hand, the 20-week MA, which is placed at 21921 can be considered immediate support on a closing basis. The 100-DMA also falls in the close vicinity; it currently stands at 21729. Over the coming days, we can largely expect the Nifty to remain in a broad trading range, with 22450-22500 working as strong resistance points.The coming week will likely see a stable start with the levels of 22450 and 22700 acting as potential resistance points. The supports come in at 22000 and 21780.The weekly RSI is at 61.78; it has marked a new 14-period low which is bearish. It, however, stays neutral and does not show any divergence against the price. The weekly MACD is bearish and trading below its signal line.The pattern analysis of the weekly chart shows that the last phase of the upmove on Nifty had come with a strong bearish divergence of the RSI against the price. While the Index moved higher formed higher highs, the RSI was seen forming lower tops, which led to the emergence of the bearish divergence.All in all, the coming week may see some continued technical pullback; however, at the same time, the markets continue to remain prone to face selling pressure at a higher level. It is also likely that, apart from short-covering led bounces in the markets, we will continue to see a risk-off sentiment. This could lead to defensive pockets like IT, Pharma, FMCG, etc., trying and display a better relative strength. Overall, it is strongly recommended that one curtail leveraged exposures. While staying extremely selective, a highly cautious approach is advised for the coming week.Sector Analysis for the Coming WeekIn our look at Relative Rotation Graphs®, we compared various sectors against CNX500 (NIFTY 500 Index), which represents over 95% of the free float market cap of all the stocks listed.Relative Rotation Graphs (RRG) show that the Consumption Index has rolled inside the leading quadrant. The Nifty Auto and Metal sectors are firmly placed inside the leading quadrant. Besides this, the Pharma and PSU Bank indices are also placed inside the leading quadrant, but they are giving up sharply on their relative momentum. These groups are likely to relatively outperform the broader markets.The Nifty Infrastructure and Commodities have rolled inside the weakening quadrant. The Nifty Energy, Midcap 100, PSE, and Realty Indices are also inside the weakening quadrant.The Nifty IT and Media groups continue to languish inside the lagging quadrant. The Nifty FMCG index is also inside the lagging quadrant but it is seen improving on its relative momentum.The Nifty Services Sector Index has rolled inside the improving quadrant. The Financial Services Sector Index and Banknifty are also inside the improving quadrant and may see improving relative strength over the coming days.Important Note: RRG™ charts show the relative strength and momentum of a group of stocks. In the above Chart, they show relative performance against NIFTY500 Index (Broader Markets) and should not be used directly as buy or sell signals.Milan Vaishnav, CMT, MSTA Consulting Technical Analystwww.EquityResearch.asia | www.ChartWizard.ae

DP TRADING ROOM: Find Shorts Using the Diamond Dog Scan

Today Erin shared her Diamond Dog Scan that she uses to find shorting opportunities. She was able to uncover five possible shorts. She discusses each chart and let's you know what she looks for in a good short.Carl did the market overview with special attention paid to Silver and Gold as well as Gold Miners. He covered current DecisionPoint signals and walked us through the Magnificent Seven stocks.Semiconductors were a favorite among the symbol requests that Erin analyzed at the end of the program.01:13 DecisionPoint Signal Tables03:44 Market Overview with Carl13:02 Magnificent Seven17:45 Sector Analysis23:12 Diamond Dog Scan35:39 Symbol RequestsWatch the latest episode of the DecisionPointTrading Room on DP's YouTube channel here! Try us out for two weeks with a trial subscription! Use coupon code: DPTRIAL2 at checkout!Technical Analysis is a windsock, not a crystal ball. --Carl Swenlin(c) Copyright 2024 DecisionPoint.comDisclaimer: This blog is for educational purposes only and should not be construed as financial advice. The ideas and strategies should never be used without first assessing your own personal and financial situation, or without consulting a financial professional. Any opinions expressed herein are solely those of the author, and do not in any way represent the views or opinions of any other person or entity.DecisionPoint is not a registered investment advisor. Investment and trading decisions are solely your responsibility. DecisionPoint newsletters, blogs or website materials should NOT be interpreted as a recommendation or solicitation to buy or sell any security or to take any specific action.Helpful DecisionPoint Links:Trend ModelsPrice Momentum Oscillator (PMO)On Balance VolumeSwenlin Trading Oscillators (STO-B and STO-V)ITBM and ITVMSCTR RankingBear Market Rules

Equities Struggle in Strong "NoGo" as Materials try to Curb the Damage

Good morning and welcome to this week's Flight Path. The equity "Go" trend is over. We saw a pink "NoGo" bar following an amber "Go Fish" bar of uncertainty and then that was followed by strong purple bars as the week continued. Treasury bond prices remained in a strong "NoGo" trend as we saw an entire week of uninterrupted "NoGo" strong purple bars. Commodity prices hung on through a period of weakness to paint a strong blue bar at the end of the week. The dollar showed strength all week as GoNoGo Trend. colored all of the bars a strong blue "Go".Equities Roll Over into "NoGo"Last week we noted the weakness we had seen in the "Go" trend. The last high triggered a Go Countertrend Correction Icon (red arrow) that indicated prices may struggle to go higher in the short term. Prices moved mostly sideways or away from the high since then and this past week saw the technical environment change. First, an amber "Go Fish" bar reminded us that there was uncertainty in the current trend, and that quickly gave way to a pink "NoGo" bar. Without looking back, the latter part of the week saw strong purple "NoGo" bars as price moved progressively lower.Last week's paler aqua "Go" bar brought with it a Go Countertrend Correction Icon (red arrow). This week we see price falling further from the most recent high as GoNoGo Trend paints a second weaker aqua bar. We look to the oscillator panel and see that it is fast approaching the zero line. That will be the next important test of this "Go" trend. As price continues to fall, we will want to see support found by the oscillator at zero. If it finds it, we will expect price to set a new higher low and can look for signs of trend continuation. If the oscillator fails to find support at the zero line, we could well see a deeper correction and possible trend change in the price panel.Rates in Strong "Go" TrendWe saw a week of strong blue "Go" bars in treasury rates. After hitting a high in the beginning of the week the chart triggered a Go Countertrend Correction Icon (red arrow) and we know that it will be hard for price to rise higher in the short term. GoNoGo Oscillator is in positive territory but no longer overbought. After some consolidation at these levels we will look to see if the trend can continue.Dollar Takes a Pause at New HighsAfter last week's gap higher, we saw price consolidate at these new higher levels. GoNoGo Trend painted a full week of strong blue bars and we will look at the top of that gap for potential support going forward. GoNoGo Oscillator remains overbought at a value of 5 and volume is heavy. We will watch to see if momentum wanes, giving us a Go Countertrend Correction Icon on the chart and leading to further price consolidation.The longer term chart shows clearly where long term support should now be found. Last week's strong price action pushed price above horizontal resistance that we see on the chart from prior highs. There is some likelihood that price takes a breath soon as momentum is overbought. As it moves back into neutral territory and potentially toward the zero line we will look for price support at the horizontal level and for oscillator support at the zero line.

3 Cheap Stocks That Shouldn’t Be So

Three stocks could become buy targets around fears that interest rate cuts won't come, these businesses bet that cuts could actually be around the corner.

S&P 500 Approaches 100-Day Moving Average: Is Now an Attractive Time to Buy Stocks?

What a difference a week makes.Last week, the stock market changed its tune from up, up, up,... to up, down, up, down. That made it feel like investors were uncertain, yet the CBOE Volatility Index ($VIX) wasn't high enough to confirm the fear. This week, the market's singing another tune emphasizing the word "down." This week, the selling pressure was more dominant, especially in the Tech sector. Does this mean the bear is coming out of hibernation?The Macro EnvironmentWe heard comments from two Federal Reserve Presidents, John Williams and Austan Goolsbee, who left open the possibility of a rate hike. Fed Chair Jerome Powell suggested interest rates could remain higher for longer. Next week, we'll get the March PCE data, and, in light of the Fed comments, it could be higher than estimates.We'll also get the Q1 GDP, which will probably reveal the continued strength of the US economy. If the economy continues to be resilient, we may not see a rate cut this year. As of now, the stock market has priced in at least one rate cut in 2024, which is different than the four that were expected earlier in the year.In a "higher for longer" interest rate environment, two events that could have intensified the selling pressure at the end of the week are:Escalating geopolitical tensions in the Middle East, which, for the time being, have tapered.Options expiration day, which means heavy trading volume.Nobody wants to open new positions on a Friday, especially after a volatile trading week. Anything could happen over the weekend, and traders would rather be patient and wait to see if the stock market has further to fall before jumping in.The Broader MarketYou've heard the adage, "Markets take the stairs up and the elevator down." You can see this play out in the charts of the broader indexes.The S&P 500The S&P 500 ($SPX) closed below 5,000, a significant psychological level. On the daily chart, the index broke below its 50-day simple moving average (SMA) and is now approaching its 100-day SMA. The last six days have been an elevator ride down and, the way the chart looks, there could be more selling next week.FIGURE 1. DAILY CHART OF THE S&P 500. Since the S&P 500 fell below its 50-day SMA, it's taken the elevator down. The index is now approaching its 100-day SMA, which could be its next support level. Will it fall below the support?Chart source: StockCharts.com. For educational purposes.On the weekly chart, the S&P 500 is above its 50-week SMA, but has three consecutive down weeks, which doesn't paint a pretty picture. Right now, it looks as if the index has further to fall.The Dow Jones Industrial AverageAfter its most recent selloff, the Dow Jones Industrial Average ($INDU) is trading around a support level (December 2023 high). The daily chart below shows that even though the index closed higher on Friday, it hit resistance from its 100-day SMA.FIGURE 2. DAILY CHART OF DOW JONES INDUSTRIAL AVERAGE ($INDU). After its elevator ride down, $INDU appears to have hit a support level and trying to reverse, which is a positive sign.Chart source: StockCharts.com. For educational purposes.The Nasdaq CompositeThe Technology sector was hit hard this week. NVIDIA (NVDA) fell over 9% on Friday; Tesla (TSLA) shares continued to fall, hitting a new 52-week low; and Advanced Micro Devices (AMD) fell over 5%.Super Micro Computers (SMCI), which has been in the top 5 StockCharts Technical Rank (SCTR) for months, fell over 23%. The selloff was caused by the company's decision not to preannounce its earnings results as it has in the past.Looks like investors were taking their Tech stock profits. As a result of the big Tech selloff, the Nasdaq Composite is trading below its 100-day SMA (see chart below).FIGURE 3. DAILY CHART OF NASDAQ COMPOSITE. After falling below its 100-day SMA, the Nasdaq Composite could slide to its 200-day SMA. The small wick at the bottom is slightly encouraging, but next week is another week.Chart source: StockCharts.com. For educational purposes.Whenever there's a massive selloff, as was the case this week, investors question whether the market has hit a bottom and if it's an ideal time to open long positions. There was a little bit of that on Friday, but every time the market rallied, it met pressure from sellers and the rally fizzled. When technicals still point lower, you may want to adopt a "wait and see" approach before entering long positions.Nobody knows what will happen next week, but tech companies will start reporting earnings, and that could lift the stock market.Some Bright SpotsAfter experiencing a plunge similar to that of the broader indexes, the Financial sector is showing signs of a reversal. The daily chart of the Financial Select Sector SPDR (XLF) below shows a possible reversal, although a series of higher highs and higher lows is needed before an uptrend can be established. XLF would need to break above.FIGURE 4. DAILY CHART OF FINANCIAL SELECT SECTOR SPDR ETF (XLF). Looks like XLF will have to overcome the resistance from its 50-day moving average before its trend reverses.Chart source: StockCharts.com. For educational purposes.Shares of Bank of America (BAC), JP Morgan Chase (JPM), Citigroup (C), and Wells Fargo (WFC) all traded higher on Friday. WFC's stock price reached a new all-time high. Precious metals, such as gold and silver, are trading higher. As geopolitical tensions arise, investors turn to these safe-haven investments.It was interesting to see the CBOE Volatility Index ($VIX) hit a high of 21.36, close to the 23 level it hit in October last year. But it pulled back and closed at 18.71. The higher volatility could have been because of options expiration.If you look at the chart of the Nasdaq Composite, you'll see that this coincided with the October selloff in Tech stocks. Will the broader markets follow a similar path, given Tech earnings start next week? We'll have to wait and see.The Bottom LineThis week's stock market action wasn't great, and while it's tempting to find bargains in stocks, it's[…]

Breakdown in Mega-Cap Growth Confirms Bear Phase

While our major equity benchmarks showed incredible strength in Q1 2024, breadth conditions have been deteriorating since mid-March. Despite the weakening breadth readings, and the initial breakdowns of the S&P 500 and Nasdaq 100, leading growth names, including the formerly-described Magnificent 7 stocks, had remained in clearly-defined uptrends.This week, some of the top-performing stocks in the S&P 500 finally broke below their 50-day moving averages. While this signal on its own is not a sign of a market top, these breakdowns represent just one of the many clear signals that the bull market off the October 2023 low may be over.Today, we'll briefly review some of the early breakdowns in the mega-cap growth space, how some of the top-ranked SCTR stocks have shown recent weakness, and why the "Fantastic Four" (current front-runner to replace the "Magnificent 7 moniker) breaking down may represent a key confirmation for a new bear phase.The Early Breakdowns: Apple (AAPL) & Tesla (TSLA)Tesla has been in a confirmed downtrend since July 2023, and Apple has appeared in a weak technical configuration since failing to break above the $200 level in December and January. But both charts have literally and figuratively made a new low this week.Note how both charts have remained below downward-sloping 50-day moving averages since mid-January. Also observe how both have shown failed attempts to break above that moving average in recent months. When stocks are making lower lows and lower highs, and trending below downward-sloping moving averages, I've learned it's best to avoid taking action until some of those conditions start to change. Ready to talk market breadth indicators? Our next free webinar, Breaking Down Breadth, will focus on breadth conditions now vs. previous market tops. Join me on Tuesday, April 23rd at 1pm ET as we review the current market environment through the lens of breadth indicators, compare them to conditions at previous market tops, and discuss the likelihood of further drawdowns for the S&P 500 and Nasdaq. Sign up HERE for this free webcast!As these stocks broke down, diverging from most other leading growth names, the S&P 500 and Nasdaq 100 pushed much higher. So let's see some of the stocks that served as leadership in Q1.The Top-Ranked SCTRs: Super Micro Computer (SMCI) & MicroStrategy (MSTR)Here, we have two names that were less well-known until they experienced exponential gains earlier this year. And while they certainly appeared overextended in March, they have now both come right down to earth.From the end of 2023 to their peaks in March 2024, SMCI and MSTR gained 350% and 175%, respectively. They both were a far distance from moving average support, giving clear signs of overbought conditions. So far in April, both stocks have traded much lower, and they each finished this week below their 50-day moving averages.It's normal for stocks in strong uptrends to pull back and test moving average support. Indeed, the 50-day moving average often serves as a potential entry point for a "buy on the dips" strategy. But when top performers fail to hold this crucial short-term support level, I have found that it often implies a broader move to more risk-off positioning.What about the best of the biggest--in other words, the most magnificent of the Magnificent 7?The Fantastic Four Breakdowns: Netflix (NFLX) & Amazon (AMZN)That brings us to perhaps the most concerning development this week. As I recently posted on my social media accounts, "As long as $AMZN and $NFLX remain above the 50-day moving average, you can make an argument for ‘short-term pullback' as opposed to ‘protracted and painful decline.'" Unfortunately, this week, we finally observed this breakdown of breakdowns.Mega-cap growth stocks wield an outsized influence on our top-heavy growth-dominated equity benchmarks. In recent weeks, bearish momentum divergences, weakening breadth conditions, and breaks of "line in the sand" support levels had us thinking market weakness over market strength. But the resilience of the Fantastic Four stocks gave us just a glimmer of hope that a pullback may be limited.Given this week's breakdown in the charts of previous top performers, we feel this just may be the beginning of the great bear phase of Q2 2024.RR#6,DaveP.S. Ready to upgrade your investment process? Check out my free behavioral investing course!David Keller, CMTChief Market StrategistStockCharts.comDisclaimer: This blog is for educational purposes only and should not be construed as financial advice. The ideas and strategies should never be used without first assessing your own personal and financial situation, or without consulting a financial professional.The author does not have a position in mentioned securities at the time of publication. Any opinions expressed herein are solely those of the author and do not in any way represent the views or opinions of any other person or entity.

How to Chart In Multiple Timeframes Like A PRO

On this week's edition of StockCharts TV's StockCharts in Focus, Grayson shows you how to chart the same symbol in multiple timeframes with ease using ChartStyles and StyleButtons. Learn how to customize multiple charts with the periods and ranges that fit with your system and then set those for one-click access with conveniently located StyleButtons just to the left of your charts. This workflow booster will instantly enhance your analysis and strengthen your perspective for the symbols you're researching.This video originally premiered on April 19, 2024. Click on the above image to watch on our dedicated StockCharts in Focus page on StockCharts TV.See how you can save over 35% OFF with our limited-time 25th Anniversary Sale that just launched on StockCharts. Visit https://StockCharts.com/special to learn more and sign up now!You can view all previously recorded episodes of StockCharts in Focus at this link.

Charts Flashing "No Go" for S&P 500!

In this edition of StockCharts TV's The Final Bar, Dave welcomes guest Tyler Wood, CMT of GoNoGo Charts. Tyler walks through their proprietary momentum model which confirms a bearish rotation for the major equity benchmarks yet a bullish rotation for the commodity space. David walks through key earnings names including LVS, NFLX, and more.This video originally premiered on April 18, 2024. Watch on our dedicated Final Bar page on StockCharts TV!New episodes of The Final Bar premiere every weekday afternoon. You can view all previously recorded episodes at this link.

META Stock in Limbo: What You Need to Know Before the Next Big Price Swing

Meta Platforms Inc. (META), the social media giant formerly known as Facebook, has been in tight consolidation at the top of its range for a little over a month. Following a 23% rise in February after its Q4 earnings, trading volume for the stock has declined significantly. Market participants are now looking for any catalyst that could guide the stock's movement.Analyst Price Predictions Show Wide VariationIf you're undecided as to whether you're bullish or bearish on Meta, you're not alone, as the blogosphere will show you a wide range of analyst price predictions for the next 12 months. The highest price target is at $610, average consensus is at $489, and the lowest price targets average around $272.Yet, consensus ratings lean from "Buy" to "Strong Buy."What's New with Meta? It's New AI RolloutThe bullish outlook is driven by its new AI app, Meta AI, which aims to boost user engagement across WhatsApp, Instagram, Facebook, and Messenger by providing advanced AI capabilities such as animations and image generation. Supported by partnerships with Alphabet (GOOGL) and Microsoft (MSFT), Meta AI will likely see ad revenue growth, prompting analysts to raise their stock price targets.A Macro Look at MetaCHART 1. WEEKLY CHART OF META. Hovering at record highs, Meta's uptrend appears to be leaning toward the parabolic side of things, prompting investors to wonder whether such a trajectory is sustainable. The 13-week SMA represents one quarter.Chart source: StockCharts.com. For educational purposes.Having gone the distance to bounce off its 2022 lows, Meta began outperforming the S&P 500 just this year, now besting the broader market by 37%.However, before even matching the broader market. Meta's technicals—as shown by its StockCharts Technical Rank (SCTR) score—have been remarkably strong (with a score above the 90-line) since the end of 2022.The 13-week simple moving average, representing one quarter, appears to be a consistent proxy for support and resistance. You will want to watch that line when looking at Meta using a weekly chart.A Near-Term View of Meta's Price ActionAnalyst consensus may be largely bullish, and the Meta AI rollout is prompting Wall Street to raise price targets upward, with some going as high as $610. However, right now, we're seeing a rectangle pattern and, technically, Meta's price can go either direction, at least in the near term (see chart below).CHART 2. DAILY CHART OF META. The momentum, or lack thereof, says a lot. Investors are probably waiting for the META's next earnings report, scheduled for April 24.Chart source: StockCharts.com. For educational purposes.Mind the Rectangle: If you're looking to take action upon a breakout, set a price alert at $481 near the bottom and $531 near the top of the formation.Mind the Momentum: Fundamental forecasts may be bullish, but the Chaikin Money Flow (CMF) will tell you that selling pressure is currently far greater, though there isn't that much activity, bullish or bearish, taking place right now. And why not?Earnings Coming Up: Meta's last earnings report catapulted the stock to record highs. The next earnings date is on April 24. You'll likely see more activity occurring close to Meta's earnings date. So pay close attention to this.Support Levels: If Meta's earnings are so-so but not bad enough to invalidate its longer-term bullish thesis (AI rollout), or if its price breaks below the current rectangle formation and the 50-day simple moving average (causing it to trade technically toward the downside), then note the wide support range projected via the Ichimoku Cloud. If the bullish fundamental thesis holds out, buyers will likely jump in within the cloud.The Bottom LineMeta's long-term prospects look bullish, much of which is being driven by the optimistic expectations surrounding its AI rollout, Meta AI. Still, it seems poised for a correction, though its chart formation indicates it can go either way. Watch out for any catalysts that could influence the stock's trajectory as the next earnings date approaches. And if Meta does take a dip, keep an eye on that cloud, should the bullish fundamental outlook persist.Disclaimer: This blog is for educational purposes only and should not be construed as financial advice. The ideas and strategies should never be used without first assessing your own personal and financial situation, or without consulting a financial professional.

Equity Markets Struggle to Hold onto "Go" trend as Industrials Try to Lead | Apr 15 2024

Good morning and welcome to this week's Flight Path. The equity "Go" trend continued this week but we saw some weakness as GoNoGo Trend paints a string of weaker aqua bars to close out the week. We haven't seen a new high in a few weeks and so we will watch this week to see if the "Go" trend can hold. Treasury bond prices maintained the "NoGo" strength that we spotted last week as we saw a string of uninterrupted dark purple bars. The commodity index continued to shows strength this week as blue "Go" bars reigned supreme. The dollar also had a very strong week as it regained bright blue bars and hit new highs.Equities Hanging on by a Thread to "Go" TrendSince the last Go Countertrend Correction Icon (red arrow) have seen price struggle to go higher. Indeed, we have fallen from those highs and started to paint a more weaker aqua bars of late. This is the strongest threat to the "Go" trend we have seen in several months. GoNoGo Oscillator fell to the zero line and it has struggled to regain positive territory. In fact, we have seen it dip into negative territory and even a quick retest of that level. The oscillator was turned away by zero back into negative territory which means that momentum is out of step with the "Go" trend. We will want to see the oscillator regain positive territory if the "Go" trend is to survive.We see a first crack in the armor of the weekly "Go" trend. Another lower close was painted a weaker aqua color by GoNoGo Trend. As GoNoGo Oscillator falls from overbought territory we see a Go Countertrend Correction Icon (red arrow) telling us that price may struggle to go higher in the short term. If we turn our eye to the lower panel we can see that GoNoGo Oscillator is falling sharply. We will watch closely as the oscillator approaches the zero line. We will need to see the oscillator find support at that level as we know that in a healthy "Go" trend the oscillator should stay at or above zero.Rates Set Another Higher HighA week of uninterrupted strong blue "Go" bars sees price set another higher high this week on the daily chart of U.S. treasury rates. We do see a Go Countertrend Correction Icon (red arrow) which indicates price may struggle in the short term to go higher. Perhaps a pause then, as GoNoGo Oscillator turns around and heads for the zero line. As price momentum cools, and price falls from its recent high, we will watch to see if the oscillator finds support as it drops to the zero line.Dollar Soars this Week as Price Jumps to New HighsWhat a bounce for the dollar in the second half of the week. It was no surprise that price pulled back after the Go Countertrend Correction Icon (red arrow) and so as we identified a little trend weakness due to the aqua "Go" bars. It was then important to watch the oscillator panel as it tested the zero line on heavy volume (darker blue oscillator line). Quickly finding support, it rallied back into positive territory and that gave price the push it needed to gap higher twice in 3 days and cement new highs.The longer term chart shows that we have clearly broken above a strong resistance level that has been on the chart since October of 2023. With open skies ahead, and momentum surging in the direction of the "Go" trend we will look for price to consolidate at these levels and potentially move higher. GoNoGo Trend is painting strong blue "Go" bars for a 4th consecutive week.