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Stocktwits Chart Art: April 11, 2024
The best charts and trade ideas from the day.
Tom Bruni
April 11, 2024
STOCKTWITS CHART ART: APRIL 11, 2024
The Stocktwits Summary 📝
Retail dip buyers were rewarded today as bulls bounced back on producer prices’ smaller-than-expected rise. Big tech led the way, causing the Nasdaq 100 to outperform the other major indexes. 🤖
Here’s how the major indexes ended the day:
Index | ST Sentiment Score | ST Message Volume |
|---|---|---|
$SPY (+0.76%) | Extremely Bearish (22) | High (64) |
$QQQ (+1.60%) | Neutral (48) | High (67) |
$IWM (+0.68%) | Bearish (42) | High (61) |
$DIA (+0.01%) | Bullish (55) | High (68) |
*The ST Sentiment Score & Message Volume scales range from 0 to 100 (extremely bearish to extremely bullish). More info here.
And here were Stocktwits’ top Trending symbols:
CHART OF THE DAY
Retail Doubles Down On Its Bullish Apple Bet 🍏
The “Magnificent Seven” stocks have mostly continued their upward trajectories so far year-to-date, but Apple had been written off as a loser (along with Tesla) due to its underperformance.
Despite Wall Street's worries, retail has been quietly upgrading its stance toward the stock. Last week, we saw Stocktwits sentiment tick up into bullish territory after spending months in neutral/negative territory. 🐂
Today, that optimism grew further on the back of some positive fundamental news. With prices reversing sharply from support for the fifth time, many traders expect Apple to play catch-up with the stronger “Mag 7” stocks in the coming days/weeks.
P.S. We’ve gotten several questions about what type of charts we want to feature, and the chart above highlights it well.
Tell a compelling story with a clean chart and clear commentary, and you’ll be on our radar. We’ll also be putting out more formal guidelines sometime next week, so keep an eye out! 📝
Broadcom Breaks Out As Semiconductors Surge ⚡
Cloud Computing Stocks Set To Soar Over $98 🌤️
$SNOWhere To Go But Up From Here 🧐
A Boutique Asset Manager Ready To Break Out 🤑
Financials Stuck Below Resistance Ahead Of Earnings 🏦
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Disclaimer: Content, news, research, tools, and securities symbols are for educational and illustrative purposes only and do not imply a recommendation or solicitation to buy or sell a particular security or to engage in any particular investment strategy. Read the full terms & conditions here. 🔍
