Sometimes stocks that are in the same industry have charts that look similar. That’s the case with investment bankers The Goldman Sachs Group, Inc. (NYSE: GS) and Morgan Stanley (NYSE: MS).
Even with inflation moving higher, investors seeking income still have limited options. The interest rates that government and corporate bonds are paying are still well below their historical averages.
Shares of ContextLogic Inc. (NASDAQ: WISH) hit resistance, or a wall of sellers, at the $15.40 level. They also hit resistance at $15.40 in April and early June. They couldn’t break through those times either and downtrends followed.
Shares of Microsoft Corporation (NASDAQ: MSFT) have been on fire. They are trading at all-time highs. But they are also overbought.
This could be a warning signal.
Despite its reverse split on May 28, the death spiral of Castor Maritime Inc. (NASDAQ: CTRM) continues.
This chart teaches an important lesson about the markets. When stocks head lower, levels that had been support can convert into resistance.
Big Tech and cryptocurrencies seem to get all of the attention. But Thursday, it was the healthcare stocks that led the way.
The Health Care Select Sector SPDR Fund ETF (NYSE: XLV) follows the health care sector and it broke out to a new all-time high.
Sometimes companies that are in the same business or industry have similar chart patterns. That’s not the case with Intel Corporation (NASDAQ: INTC) and Advanced Micro Devices, Inc. (NASDAQ: AMD).
Shares of Micron Technology, Inc. (NASDAQ: MU) were up by almost 2.5% Wednesday, but slammed into resistance at the $85 level and were backing off Thursday morning.