Understood and applied correctly, technical analysis should be an illustration of the supply and demand dynamics occurring in a given market. Knowing which levels and trends are important will give traders an edge over those who don’t.
Shares of GameStop Corporation (NYSE: GME) traded about $10 higher Monday morning on news that its CEO will resign this summer.
Unfortunately, shareholders don’t have that much to be excited about as this just puts shares back to where they were last week.
The $700 level is critical for Tesla, Inc. (NASDAQ: TSLA). There may be support for the stock at this level. If not, shares could make a big move lower.
The stock of bitcoin miner Canaan Inc. (NASDAQ: CAN) has formed a classic head and shoulders pattern.
Unfortunately, for Canaan shareholders, the pattern has bearish implications.
Seller's remorse is a common occurrence in the financial markets. It can be seen on almost any chart.
It happens when an investor sells a stock only to watch it move higher. The remorseful investor decides to buy it back, but only if they can get it for the same price they sold at.
The inflation trade is crowded. That’s Wall Street talk meaning that if everyone has the same idea, it can’t be a good one.
Investors have been getting into copper stocks as a way the hedge against inflation. If inflation rises, so will the value of copper and so will the value of these stocks.
This may be the case long term.
Shares of Hims & Hers Health, Inc. (NYSE: HIMS) are in trouble.
The stock is testing critical support and if this support holds, shares may rally. But if not, watch out below.
Support is a concentration of buyers gathered at the same price level. In this case, it's $12.50.