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☆ Recent breakdown suggests $52,000 is the next stop for bitcoin, according to the charts
▼ + stars: | 2024-05-02 | by ( David Keller | ) www.cnbc.com time to read: +3 min

With bitcoin finally breaking below that support level at $60k this week, we see much further downside potential before the long-term uptrend resumes. You may also notice the breakdown below an ascending 50-day moving average during the second week in April. Going into May, bitcoin is making lower lows and lower highs, and now sits below a downward-sloping 50-day moving average. BTC.CM= 1Y mountain Bitcoin, 1-year Where could we expect potential support if the downtrend continues? The 200-day moving average is right around there, and big round numbers like $50k and $60k have often served as important thresholds for the cryptocurrency.

Persons: Bitcoin, bitcoin, It's, David Keller Organizations: RSI, CMT

☆ Alphabet and Chipotle are among the most overbought names on Wall Street. Here are the others
▼ + stars: | 2024-04-26 | by ( Lisa Kailai Han | ) www.cnbc.com time to read: +4 min

CNBC Pro used its stock screener tool to identify the most overbought and oversold stocks on Wall Street as measured by their 14-day relative strength index, or RSI. Stocks with a 14-day RSI above 70 are said to be overbought, indicating that shares might soon turn lower. On Thursday, the technology giant posted a first-quarter earnings and revenue beat as its Google Cloud and YouTube advertising revenue outpaced expectations. On the other hand, Ulta Beauty , with an RSI of 21, is one of the most oversold stocks on Wall Street. IBM stock slipped this week after the company posted better-than-expected first-quarter earnings but missed on revenue.

Persons: Jefferies, Ashley Helgans, J.B, Fred Imbert Organizations: Microsoft, CNBC Pro, Google, Hasbro, Hunt Transport Services, Tech, International, Machines, IBM

☆ Here's where Meta shares could go from here after their post-earnings sell-off, according to the charts
▼ + stars: | 2024-04-25 | by ( David Keller | ) www.cnbc.com time to read: +3 min

Since February, Meta Platforms has been trending slightly higher on weaker price momentum. Since early 2023, META has experienced a period of remarkably positive price momentum. META has been trending slightly higher since February, yet the RSI has been sloping downwards. Thursday's initial gap lower dropped META right into the middle of the price gap formed in early February. This would also mean a retest of the 200-day moving average, which META has not touched since February 2023.

Persons: We'll, — David Keller Organizations: RSI, CMT

☆ A bearish options trade on this health care giant that's starting to show signs of cracking
▼ + stars: | 2024-04-23 | by ( Nishant Pant | ) www.cnbc.com time to read: +3 min

However, with broader market indicators showing signs of weakness, UNH is starting to reveal cracks — and the once-strong rally appears to be losing steam. The trade setup The trade structure I am using here is called a "bear put spread." Most trading platforms will offer a bear put spread (or long put spread) as a trade type and automatically construct the trade for you. Since the width of our spread is $495– $490 = $5, I can buy the spread for $2.50. BEFORE MAKING ANY FINANCIAL DECISIONS, YOU SHOULD STRONGLY CONSIDER SEEKING ADVICE FROM YOUR OWN FINANCIAL OR INVESTMENT ADVISOR.

Persons: UnitedHealth, UNH, ADX, Nishant Pant Organizations: Change, ½

☆ A measure of the market's internal strength suggests more downside is ahead for stocks
▼ + stars: | 2024-04-18 | by ( David Keller | ) www.cnbc.com time to read: +4 min

One market breadth indicator suggests that we may still be in the early phases of a market decline. We had been focused on the 5050 level for the S & P 500 as a key "line in the sand" for equities. Looking back over the last two years, you'll notice the green-shaded areas in October 2022, March 2023, and October 2023 aligned well with major market bottoms. Earlier this month, the S & P 500 bullish percent index again broke below the 70% level, indicating a major market top had likely occurred. With the strength of the S & P 500 and Nasdaq 100 off the October 2023 market low, it can be tempting to treat all pullbacks as buying opportunities.

Persons: We've, David Keller Organizations: Nasdaq, CMT

☆ Here are 4 ways to approach the daily swings we're seeing lately in the stock market
▼ + stars: | 2024-04-16 | by ( Zev Fima | ) www.cnbc.com time to read: +7 min

There have been some sizeable swings in the stock market lately, both day-to-day and even during single trading sessions. But then around noon ET, the S & P 500 topped out and reversed lower. "Put simply: The S & P Oscillator is our most trusted indicator of how to act during big upswings or huge downdrafts in the market. You don't want to be sitting at your computer, staring at your screen when the major stock market benchmarks are getting knocked all around the place. And, if the flipside is true in an over-bought market, having the courage to trim when emotionally you're thinking let that baby run.

Persons: Jim Cramer, Friday's, …, Jim Cramer's, Jim, Michael M Organizations: Jim Cramer's Charitable, CNBC, Traders, New York Stock Exchange, Santiago, Getty Locations: Israel, Iran, New York City

☆ A bearish options trade that wins if the AI-led chip stock rally runs out of steam
▼ + stars: | 2024-04-16 | by ( Nishant Pant | ) www.cnbc.com time to read: +3 min

I'll discuss a bearish options hedge on a member of the chip sector that appears to be breaking down. Below is a 6-month daily chart of the iShares Semiconductor ETF (SOXX) , which monitors the chip sector. Among the semiconductor stocks, Micron (MU) stands out as a notable example. However, since securities can remain overbought for extended periods, it's important to wait for the RSI to dip below 70 before considering a bearish trade setup. The Trade Setup: The trade structure I am using here is called a "bear put spread" also known as "put debit spread".

Persons: Nishant Pant, Nishant Organizations: Nvidia, iShares Semiconductor, AMD, Broadcom, Micron, MU, YTD

☆ These are the most overbought and oversold stocks on Wall Street after a wild week of trading
▼ + stars: | 2024-04-13 | by ( Lisa Kailai Han | ) www.cnbc.com time to read: +3 min

The stock market ended the volatile week lower, but there could still be opportunities for plenty of companies' shares to rebound. CNBC Pro used its stock screener tool to find the most overbought and oversold stocks on Wall Street as measured by their 14-day relative strength index, or RSI. Stocks with a 14-day RSI above 70 are considered overbought, which indicates that shares might soon turn lower. Devon Energy made the list of overbought stocks, dominated by oil and gas producers, with an RSI of 82. On the other hand, Texas-based life insurer Globe Life , with an RSI of just 3, is among the most oversold stocks on Wall Street.

Persons: Roger Read, Devon, Wells, Deere, Lamb Weston, FactSet, —, Fred Imbert Organizations: Dow Jones, CNBC Pro, Devon Energy, Exxon Mobil, Barclays, Exxon, Truist Securities, Deere, Globe, Research, Securities Locations: Devon, Wells, Delaware, Illinois, Texas, Lamb, Idaho

☆ A dreaded 'death cross' chart pattern points to even more losses for this struggling software stock
▼ + stars: | 2024-04-11 | by ( David Keller | ) www.cnbc.com time to read: +3 min

This week, ADBE flashed the dreaded "death cross" signal — a pattern that typically points to further downside — with the 50-day moving average crossing down through the 200-day moving average. Adobe created a classic double top pattern in January, when the stock retested the December 2023 high around $630 and failed to break above this resistance level. It's worth noting that the death cross observed this week happened only after the stock had established a clear downtrend of lower highs and lower lows. This support level, just below $500, aligns well with the September 2023 price low. Back in 2022, a similar death cross resulted in an additional 45% drop for Adobe before the eventual low was established.

Persons: ADBE, David Keller Organizations: Adobe, CMT

☆ These global stocks are the most overbought — and could be due for a pullback
▼ + stars: | 2024-04-10 | by ( Weizhen Tan | ) www.cnbc.com time to read: +1 min

Overall, however, markets — including global stocks — are still very much deep in positive territory. The S & P 500 is up around 9.6% year-to-date, and in fact hit new record highs in March . Global stocks outside of the U.S. have also had a nice run, with the FTSE All World Ex US index rising nearly 8% year-to-date. Stocks with a 14-day RSI higher than 70 are likely overbought and may be due for a pullback. These are among the top overbought names in the S & P 500, according to FactSet.

Organizations: Dow Jones, Global, FTSE, U.S, Commonwealth Financial Network, CNBC Pro, Vanguard FTSE Locations: Ukraine

☆ A high-probability options trade that wins if the comeback rally in energy stocks hits a wall
▼ + stars: | 2024-04-09 | by ( Nishant Pant | ) www.cnbc.com time to read: +3 min

With this view in mind, I am looking for a bearish setup in the VanEck Oil Services ETF (OIH) . This ETF seeks to track the largest, most liquid companies involved in oil drilling and selling oil equipment based on market capitalization. However, my trading platform indicates that this will tie up $5,500 of portfolio margin, a significant amount for a potential profit of just $430. Yet, since I'm paying a debit for the $365 call, it also decreases my profit potential from $430 to $133. I will need a good trade management plan with a stop loss in case the trade starts going against me.

Persons: Max, Nishant Pant Organizations: VanEck Oil Services, Schlumberger, Halliburton, Oil Services

☆ These stocks were oversold during this week's sell-off and could be due for a bounce
▼ + stars: | 2024-04-05 | by ( Brian Evans | ) www.cnbc.com time to read: +3 min

We used the CNBC Pro Stock Screener Tool to identify companies that are oversold based on their 14-day relative strength index. The stock is slightly oversold with a 14-day RSI reading of 24.52. Biopharmaceutical firm Biogen also made the list, with a 14-day RSI reading of 29.71. BIIB YTD mountain Biogen stock. Other oversold stocks on the list include Starbucks and Nike .

Persons: McDonald's, Krispy Kreme, Biogen, Wall, Baird, Brian P, Skorney Organizations: Dow Jones Industrial, Federal Reserve, CNBC, Israel, Starbucks, Nike Locations: Latin America

☆ Why the stock market sold off Tuesday and how investors can decide when to buy
▼ + stars: | 2024-04-03 | by ( Zev Fima | ) www.cnbc.com time to read: +9 min

He mentioned a handful of stocks that are nearing buy levels but bigger declines would need to bigger. So, with stocks selling off and cash at the ready, the question is, when do we step in? The fourth quarter was a pretty great one for Club stocks. When a stock is trading above these levels, then investors will look to these levels as support (meaning levels that might serve as a near-term floor). Jim waits 45 minutes after sending a trade alert before buying or selling a stock in his charitable trust's portfolio.

Persons: Tuesday's selloff, annualized, Jim Cramer, Jim, haven't, we've, We've, Jim Cramer's, Timothy A, Clary Organizations: CME, Federal Reserve, Abbott Laboratories, Palo Alto Networks, Investment, Fed, NYSE, Jim Cramer's Charitable, CNBC, New York Stock Exchange, Getty

☆ This trade wins if interest rates stay high and hurt the housing market
▼ + stars: | 2024-04-02 | by ( Nishant Pant | ) www.cnbc.com time to read: +3 min

To profit from this possibility, here's an options trade that bets against the housing market. US10Y YTD mountain U.S. 10-year Treasury yield so far in 2024 I'm contemplating a bearish trade on Lowe's (LOW) within the consumer discretionary sector. DMI (Directional Movement Index): When the DI+ (green line) is above DI- (red line), the stock is in an uptrend. The trade structure I am using here is called a "bear put spread" also known as "put debit spread". If LOW trades at or below my short strike by the expiration date, this trade can yield a 100% ROI on the amount risked.

Persons: I'm, I've Organizations: Federal, Treasury, Lowes Locations: US10Y

☆ The uptrend in this airline stock could be just getting started, according to the charts
▼ + stars: | 2024-03-28 | by ( David Keller | ) www.cnbc.com time to read: +3 min

Alaska Air shares just getting started Alaska Air Group has recently broken above a key resistance level and could represent a compelling option for investors searching for stocks earlier on in their uptrends. Alaska remained below that retracement level as well as a declining 200-day moving average until this week. Now we're seeing ALK power above $42 with an initial upside target at the 61.8% retracement level around $47. The momentum characteristics are consistent with bullish phases, with Alaska becoming overbought this week after a quick rise. While overbought conditions could indicate a short-term pullback in the coming weeks, we're inclined to assume this uptrend could be just getting started.

Persons: we've, — David Keller Organizations: Nasdaq, US Global Jets ETF, JETS, Alaska Air Group, Alaska Air, CMT Locations: Alaska

☆ Using options to bet on a Boeing turnaround
▼ + stars: | 2024-03-26 | by ( Nishant Pant | ) www.cnbc.com time to read: +3 min

The shake-up at Boeing this week with the CEO set to step down by year-end has sparked optimism among investors. Boeing (BA) has faced significant challenges over the years with the latest incident involving a door plug on an Alaska Airlines 737 Max 9 in January. When the RSI falls below 30, it indicates that the underlying asset, in this case, BA stock, is in an oversold condition. The trade To go bullish on BA, the trade structure I have used here is called a bull call spread. You may find trading platforms using other names like call debit spread or long call spread.

Persons: Nishant Organizations: Boeing, Alaska Airlines

☆ General Electric is among the most overbought names on Wall Street. Here are the others
▼ + stars: | 2024-03-22 | by ( Pia Singh | ) www.cnbc.com time to read: +3 min

After significantly outperforming the broader market this year, shares of General Electric could see a pullback, at least according to one popular chart metric. Using the CNBC Pro Stock Screener tool, we searched for the most overbought and oversold names in the S & P 500 based on their 14-day relative strength index, or RSI. Here are some of the most overbought names: General Electric 's 14-day RSI of nearly 83 indicates that shares could be overbought. Several oil and gas names are also overbought, according to their RSI. However, Wall Street anticipates nearly 17% upside for Marathon Oil, according to LSEG.

Persons: LSEG, Wells, Roger Read Organizations: General, Federal Reserve, Dow Jones, Nasdaq, CNBC, Stock, GE, GE Vernova, New York Stock Exchange, Valero Energy, Marathon Petroleum, Marathon, NRG Energy, LSEG, NRG, Valero, Oil, Pfizer Locations: U.S, LSEG, Wells Fargo

☆ How to bet against Nvidia using options if this is the top of the AI rally
▼ + stars: | 2024-03-19 | by ( Nishant Pant | ) www.cnbc.com time to read: +3 min

Considering this, I'm contemplating a bearish trade on Nvidia (NVDA) , utilizing a bear put spread as the trade structure. In the chart provided, I've highlighted a few notable points: RSI (Relative Strength Index): I've employed RSI to assess weakness. However, since securities can remain overbought for extended periods, it's essential to wait for the RSI to dip below 70 before considering a bearish trade setup. The trade The trade structure I am using here is called a bear put spread. NVDA YTD mountain Nvidia, YTD Here is my exact trade set-up: Buy $870 put, April.

Persons: I'm, I've, NVDA, Nishant Pant Organizations: Nvidia, Downside

☆ Tesla is one of the most oversold stocks on the Street and could be due for a rebound
▼ + stars: | 2024-03-15 | by ( Lisa Kailai Han | ) www.cnbc.com time to read: +4 min

It may be time to buy shares of Tesla as a popular metric on Wall Street indicates shares could be ripe for a rebound. Analysts have a consensus hold rating on Tesla, which has a 14-day RSI of 29.4. Tesla shares this week dropped 7% after a Wells Fargo downgrade to underweight from equal weight. Boeing is also on the list of Wall Street's most oversold names. Other oversold names on the list include Amgen and Globe Life .

Persons: Tesla, Dupont De Nemours Organizations: Tesla, Dow Jones, Nasdaq, CNBC, Stock, Analysts, Boeing, LSEG, Southwest Airlines, Life, Targa Resources, Garmin, Waste Management, Devon Energy Locations: China, Wells

☆ The move in this AI momentum ‘poster child’ is so astounding that it’s time to fade, Wolfe Research says
▼ + stars: | 2024-03-14 | by ( Fred Imbert | ) www.cnbc.com time to read: +1 min

Super Micro Computer has gone too far and investors need to step away for now, according to Wolfe Research. But Wolfe strategist Rob Ginsberg thinks it's time to book some profits on the stock as it reaches deeply overbought territory. "The Poster Child of the Momentum Factor, the Stock is Now 300% Above Its 200-Day and its RSI Recently Hit an Eye Opening 97," he wrote. RSI refers to relative strength index, a widely followed momentum metric that gauges overbought and oversold conditions. Ginsberg said he would "Fade Strength into [the] S & P Rebalancing," which will take place Monday.

Persons: Wolfe, Rob Ginsberg, it's, Ginsberg Organizations: Wolfe Research, Factor, RSI

CNN —Indonesia’s transport ministry will launch an investigation after two Batik Air pilots fell asleep during a recent flight, according to state news agency Antara, citing the ministry’s civil aviation director-general M Kristi Endah Murni. The flight, BTK6723, lasted two hours and 35 minutes, and successfully landed in Jakarta, according to Antara and the preliminary report. Around 90 minutes into the flight, the second-in-command then “inadvertently fell asleep,” according to the report. Around 28 minutes after the last recorded transmission, the pilot-in-command woke up and realized the plane was not in the correct flight path. The preliminary report detailed that the pilot-in-command told the ACC that the flight had experienced a “radio communication problem” that had been resolved.

Persons: Antara, Kristi Endah Murni, “, ” Murni Organizations: CNN, National Transportation Safety, ACC, Air Locations: Kendari, Southeast Sulawesi, Jakarta, ”, Indonesia

☆ The pope raises eyebrows after saying Ukraine should have the 'courage of the white flag' and negotiate with Russia
▼ + stars: | 2024-03-10 | by ( Cameron Manley | ) www.businessinsider.com time to read: +6 min

Pope Francis said Ukraine should have the 'courage of the white flag' and negotiate with Russia. AdvertisementPope Francis has sparked controversy after saying Ukraine should have the "courage of the white flag" and negotiate an end to the war with Russia. "You are the heirs of the great Russia. The great Russia of the saints, of the kings, of the great Russia of Peter the Great, of Catherine II, that great imperial Russia, cultivated, with so much culture and humanity," he said. Turkish President Recep Tayyip Erdogan and Ukrainian President Volodymyr Zelenskyy meet in Istanbul March 8, 2024 Ozan Guzelce/dia images via Getty ImagesBut Russia and Ukraine continue to speak at cross purposes.

Persons: Pope Francis, —, Edgers Rinkēvičs, Matteo Bruni, Bruni, Zelenskyy, Darya, Alexander Dugin, Dugina, Dmytro Kuleba, Francis, Volodymyr Zelenskyy, Peter the Great, Catherine II, Oleh, " Bruni, Recep Tayyip Erdogan, Ozan Organizations: Service, RSI, Catholic Church, Ukrainian Foreign, Ukrainian Foreign Ministry, Kremlin, Kyiv Locations: Ukraine, Russia, Swiss, Turkey, Visegrad, Latvian, Russian, Moscow, Ukrainian, Istanbul, Turkish, Crimea

☆ A veteran chartmaster calling for a continued market rally says it's time to diversify away from mega-cap growth by making these 6 investments now
▼ + stars: | 2024-03-10 | by ( James Faris | ) www.businessinsider.com time to read: +5 min

Wall Street was mostly upbeat about equities heading into 2023, though even the most bullish investment firms thought the S&P 500 would finish this year at 5,100 — a level it has exceeded already. Resisting this rally is a fool's errand, according to David Keller, the chief market strategist at StockCharts.com. The long-time chartmaster warned of a near-term pullback as the S&P 500 approached its previous record high but has since abandoned his cautious call. AdvertisementFast-forward to early March, and many of those mega-cap growth names remain hot, especially Nvidia and Meta. "I like that idea, at this point, of diversifying away from mega-cap growth," Keller said.

Persons: —, David Keller, chartmaster, Keller, I'm, they've, StockCharts.com Organizations: Service, Business, Nasdaq, Nvidia, Meta, Microsoft, Apple, Companies, Hilton, Marriott, Restaurant Brands, Burger King ., Biotechnology Locations: Burger

☆ Pope Francis' 'white flag' comment is met by criticism from Ukraine and allies
▼ + stars: | 2024-03-10 | by ( ) www.cnbc.com time to read: +4 min

In an interview recorded last month with Swiss broadcaster RSI and partially released on Saturday, Francis used the phrase "the courage of the white flag" as he argued that Ukraine, facing a possible defeat, should be open to peace talks brokered by international powers. "How about, for balance, encouraging Putin to have the courage to withdraw his army from Ukraine? Peace would immediately ensue without the need for negotiations," Polish Foreign Minister Radek Sikorski responded with a post on X, formerly Twitter. His post on X appeared to compare the pope's comments to calls for "talking with Hitler" while raising "a white flag to satisfy him." Matteo Bruni said that the journalist interviewing Francis used the term "white flag" in the question that prompted the controversial remarks.

Persons: Pope Francis, Francis, Putin, Radek Sikorski, Sikorski, Adolf Hitler, Andrii, Hitler, Matteo Bruni, Volodymyr Zelenskyy, Sviatoslav Shevchuk, Shevchuk Organizations: RSI, Vatican, NATO, Ukrainian Greek Catholic Church Locations: Russia, Ukraine, Poland, Vatican, Swiss, Kyiv, Moscow, Ukrainian, Kherson, Zaporizhzhia, Odesa, Kharkiv, Sumy, New York City, Russian, Bucha, St

☆ Nvidia is one of the most overbought stocks on Wall Street after this week's massive rally
▼ + stars: | 2024-03-08 | by ( Samantha Subin | ) www.cnbc.com time to read: +2 min

Nvidia shares may be due for a pullback after another red hot start to the year. But Nvidia may be getting ahead of itself after nine-straight weeks of gains, according to this commonly watched metric. Here are some of the stocks that made the list: Howmet Aerospace and General Electric are the most overbought stocks, with RSIs exceeding 89. Nvidia was the fourth-most overbought stock on the list with an RSI reading of about 86. NVDA 5D mountain Nvidia shares this week Other companies that made the overbought list include Jabil , Leidos Holdings and American Express .

Organizations: Nvidia, CNBC Pro, Wall, Aerospace, General Electric, Electric, JPMorgan, Leidos Holdings, American Express, Apple Locations: China

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