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Hello Traders,

Hopefully you all had a good week!

Markets continue to grind higher overall, but we are seeing a bit of weakness coming into the end of the week. A pull back of some nature would honestly seem normal. It’s probably a good time to remind ourselves to remember to trade price and not headlines. Things have been heating out there with Iran & Israel, and the headlines are rolling in hot. It can be challenging not letting headlines influence decision making. But price pays, and it should be held in the highest regard.

TICKERS

FHI, WMB, SCHW, AR, EQT, DGX, MTG, PLNT, AIZ, SMCI, XLE GPOR, EE, GH, ETR, RDN, ENIC, PEG, EAT, AZEK, UBER, DHI

Let’s get into this weeks charts!

FHI - Federated Hermes: Nice cup & handle pattern forming. Need price to start curling higher to signal an entry. A confirmed pattern would be a breakout over the blue line.

WMB - William Companies: Was hoping this chart was going to get some follow through last week. But it ended up consolidating/pulling-back slightly. I’m keeping this on watch to see if we can get a push higher next week to keep the chart in play. Reclaiming the black line would be what I’m looking for.

SCHW - Charles Schwab: Price is tightly consolidating sideways after breaking out of this bottoming base pattern. As long as price hangs above the lower black line, I like the chart. Lets see if this can start to grind up to prior highs as a first target.

AR - Antero Resources: After breaking out over the slanted resistance line, price has formed a mini base over the past few months, with the low of the base retesting the slanted resistance line which acted as support. I’m looking for price to start to push over the red line up to prior highs and potentially a new breakout.

EQT - EQT Corporation: I shared this chart several times in the recent past. After breaking out, it’s been in a relatively tight consolidation for several weeks. It looked like it was going to head lower last week, but recovered into the end of the week and closed at the highs which is a strong sign. It looks like it may want to continue higher from here.

DGX - Quest Diagnostics: Another chart that I shared in the recent past. This name has made some weak attempts at a breakout over resistance. But last week it put in a strong breakout candle over resistance putting in the a new weekly closing high. As long as price stays above the black line I like it.

MTG - MGIC Investments: Nice multi-month basing pattern. Price broke out over resistance in May, but didn’t see any follow through. It mainly consolidated following the break. Last week, we got a strong push higher with an increase in volume. This chart looks actionable right where it sits.

PLNT - Planet Fitness: Been on my list for several weeks. It’s managed to hangout above resistance after its second breakout attempt for several weeks. It’s currently consolidating, which looks pretty constructive. I’m anticipating some follow through to the upside in the coming weeks. Price needs to remain above the line to stay involved.

AIZ - Assurant Inc: This name continues to consolidate under this blue line while remaining above support (Black Line). I’m looking for a clean breakout over the blue line to signal a change in character and potentially the next leg higher. On watch for now.

SMCI - Super Micro Computer: The old stock market darling is back on the radar. The setup is simple, I want to see price breakout over the slanted blue line to signal that this name wants to move higher. Until then, it remains on watch.

XLE - Energy ETF: Energy names have been frustrating in a lot of ways. This chart made several breakout attempts over the horizontal black line at the top, continuously failing. Only to then breakdown below the slanted blue support zone. And now we find ourselves breaking back above that prior support zone. I have no idea how this will pan out, but this needs to stay above that blue support line going forward.

GPOR - Gulfport Energy Corp: Multi-month cup & handle formation in the works here. We currently are forming what looks to be a handle consolidation within the pattern. Confirmation of the pattern will be a breakout above the blue resistance line. On watch for now.

EE - Excelerate Energy: I’ve been stalking this one for a while. I still think we may need a bit more consolidation around this resistance zone. But overall the chart looks decent as price is forming a nice multi-year cup & handle formation. Still waiting for a proper breakout confirmation.

GH - Guardant Health: Bottoming base in the works here. We broke through that long standing slanted resistance zone, retested that line after the breakout, and have rallied nicely. Price is now forming a smaller consolidation. This is all very constructive price action. If price can push up through that horizontal black resistance line, I think we see the next push higher.

ETR - Entergy Corporation: Tight symmetrical triangle forming here. It can break in either direction, but the current trend is up, so I will be anticipating a break higher. No confirmation of this yet, so it will remain on watch for now.

RDN - Radian Group: Nice up-trending move, followed by a year long consolidation. Price pushed over the slanted blue resistance line a few weeks back. It has been trading in a pretty tight range ever since. All in all I am anticipating a continuation of the trend higher. We may ride along this slanted line a bit longer, but I’m hoping price can begin to curl higher from here.

ENIC - Enel Chile S.A: Nice multi-year base pattern. We rejected that upper resistance line for the second time several weeks back, and are currently forming a very orderly pull-back. I will be looking for price to start to curl higher, and potentially give a us a new breakout over resistance.

PEG - Public Service Enterprise: Big base breakout in July last year, followed by a strong rally, and now a full retest of the breakout level. Pretty straight forward setup. As long price can hold above the black line I like it. If we can push through that slanted blue line, I think we will start see price push higher.

EAT - Brinker International: Multi-month base formation. This stock had a massive trending move. So this base/consolidation comes at no surprise. It’s currently in a tight consolidation after pushing over the black resistance zone. I’m looking for some price confirmation still but keeping a close eye on this one.

AZEK - The AZEK Company: Repeat name. Been stalking this one for a long time. It had a failed breakout attempt the last time around, but we’ve had some strong volume pour in and a pretty clean breakout over resistance over the past two weeks. As long as we stay above the line I like it.

UBER - Uber Technologies: Nice base breakout followed by a retest. Pretty straight forward pattern. As long as price stays above that black like I like it. If it falls below, all bets are off.

DHI -D.R. Horton: I’ve shared this chart before. I think I could be way too early here, but I’m noticing a lot of the home builders have stopped going lower, and are pushing out of these downward channels. It may be a very choppy period as it sorts out what it wants to do. But I’m keeping this one on my radar for a potential rotation back into the space. Worth keeping an eye on.

Have a great week!

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