As the Aug 21 market day has just started, here's an abridged overview of some interesting charts from yesterday's trade (Aug 20). All four securities charted below are NASDAQ-100 components.
Electronic Arts (EA) is in a heady rally on the 20-day chart. Yesterday's market action saw a pull-back, and price found support precisely at the 18-day price channel.
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| EA. July 24 to present. 5-minute candles. |
Expedia (EXPE) has recently been in a modest bearish consolidation after a strong gap up on July 27 following a well-received earnings report. In August 20 afternoon trade, price action tentatively pierced the resistance side of a price channel, which augurs well for a further advance.
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| EXPE. July 24 to present. 5-minute candles. |
First Solar (FSLR) is a staple of short-term traders. August 20 trade saw FSLR rally beyond a moderately-defined 4-year price channel, on high volume no less.
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| FSLR. April 2008 to present. Daily candles. |
Intuit (INTU), meanwhile, is exhibiting an interesting consistency on
the hourly-candles chart with regard to forming short-lived wave
patterns, especially since mid-May. The frequency of the wave is about 8
to 10 market sessions.
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| INTU. Dec 2, 2011 to present. Hourly candles. |
