Sectors
Options Alert: Large Put Spread Targets Key Level in Apple

Options Alert: Large Put Spread Targets Key Level in Apple

Apple has surged this year as Wall Street anticipates a new iPhone cycle and growth opportunities in India. But yesterday options traders looked for a pause. Check out this large transaction that occurred shortly after Monday's open: 20,000 4-August 180 puts traded...

Options Traders May Think Carnival Will Keep Sailing Higher

Options Traders May Think Carnival Will Keep Sailing Higher

Carnival is the top-performing member of the S&P 500 in June, and one big options trader may think it will keep sailing over the summer. Check out this unusual options activity yesterday in the cruise-ship operator: 20,000 August 16 calls traded for $0.83. 20,000...

Technical Analysis: Don’t Forget About Alphabet

Technical Analysis: Don’t Forget About Alphabet

Alphabet has been on the sidelines since a big rally in May. Is it time for traders to think about more upside? The first pattern on today’s chart is last August’s peak around $122.43. GOOGL chopped on either side of the level for three weeks but has mostly stayed...

Chart of the Day: Carnival Pushes a Key Level

Chart of the Day: Carnival Pushes a Key Level

Carnival has been stuck in the doldrums since last summer, but now some traders may think it’s ready to cruise higher. The first pattern on today’s chart is Friday’s last price of $12.18. While the level was slightly below February’s peak, it was the highest weekly...

Chart of the Day: Micron Pulls Back After Breaking Out

Chart of the Day: Micron Pulls Back After Breaking Out

Semiconductor stocks have been moving lately. Today’s chart focuses on memory-chip producer Micron Technology. The first pattern to consider is the level around $64.30. MU peaked near this price in November, January, March and April. A breakout followed in mid-May...

Options Alert: Call Volume Grows as Salesforce.com Nears Highs

Options Alert: Call Volume Grows as Salesforce.com Nears Highs

Major technology stocks like Apple and Microsoft jumped on quarterly results. Will peer Saleforce.com make a similar move? Marc Benioff's provider of cloud-based marketing software is up 49 percent this year after a sharp selloff in 2022. It has paused over the last...

Technical Analysis: Amazon.com Could Be Struggling After Uncertain Guidance

Technical Analysis: Amazon.com Could Be Struggling After Uncertain Guidance

Amazon.com may be showing signs of weakness after another post-earnings drop. The first pattern on today’s chart is the rising trendline along the lows of March and April. AMZN fell to that support last week after issuing so-so guidance and has remained there since....

Chart of the Day: Will Alcoa Continue Lower?

Chart of the Day: Will Alcoa Continue Lower?

Alcoa rallied early last year after the Ukraine war threatened aluminum supplies. It’s struggled since and now some traders may expect further pushes to the downside. The first pattern on today’s chart is the series of lower highs since August (marked with red...

Technical Analysis: Merck Could Be Breaking Out

Technical Analysis: Merck Could Be Breaking Out

Merck surged in late 2022 and consolidated during the first quarter. Now the drug maker could be breaking out. The first pattern on today’s chart is the rally between mid-October and early January, which included a breakout to new record highs. MRK then pulled back...

Chart of the Day: Apple Pulls Back After a ‘Golden Cross’

Chart of the Day: Apple Pulls Back After a ‘Golden Cross’

Apple clawed to a six-month high last week. Is it done or will prices continue higher? The first pattern on today’s chart is the price level around $156. AAPL peaked there on March 6 and bounced there yesterday. Some chart watchers could think ... For more,...