As long as shares of Apple Inc. (NASDAQ: AAPL) hold above $143, they should be okay. They may even form a new uptrend. But if this important level breaks, shares could make a rapid and large move lower.
Shares of Sphere 3D Corp. (NASDAQ: ANY) have been on fire, but they're now extremely overbought. That means there's a good chance they reverse and head lower.
When stocks make big moves lower there tends to be some kind of bounce or rally when the move ends. This is because overly emotional sellers pushed it too far. At this point, traders jump in and try to make a profit before the stock moves higher and returns to equilibrium.
The SPDR S&P 500 ETF Trust (NYSE: SPY) has formed a classic rectangle pattern on its chart. This type of pattern illustrates a period of sideways trading or consolidation.
Moving average prices are widely used in trading. When a short-term average is above a long-term one, the stock is generally moving higher. The opposite is true when the shorter-term average is below the lower one. It usually means the stock is heading lower.
Shares of Roku, Inc. (NASDAQ: ROKU) are trading lower after a disappointing earnings release. If they fall to $390, there’s a good chance the sell-off ends as this level was support in July.
Shares of Etsy, Inc. (NASDAQ: ETSY) are trading down by more than 7% Thursday morning. The company reported its quarterly earnings and investors didn’t like what they saw.