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Stocktwits Chart Art: April 12, 2024
The best charts and trade ideas from the day.
STOCKTWITS CHART ART: APRIL 12, 2024
The Stocktwits Summary 📝
Rate cut concerns, weaker-than-expected bank earnings, and heightened Middle East tensions allowed bears to continue pouncing on risk assets, with most closing down on the day (and week). 🔻
Here’s how the major indexes ended the day:
Index | ST Sentiment Score | ST Message Volume |
---|---|---|
$SPY (-1.38%) | Bearish (33) | High (64) |
$QQQ (-1.59%) | Bullish (62) | High (63) |
$IWM (-1.78%) | Bullish (55) | High (55) |
$DIA (-1.21%) | Neutral (45) | High (69) |
*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
Moving Averages Present Potential Support Levels 🛡️
With the stock market’s tape turning red this week, traders and investors are looking for signs that the decline is slowing before they dip their toes back into the water. 🕵️♂️
One of the most basic tools being employed is a moving average across commonly tracked timeframes, such as 20 days, 50 days, 100 days, and 200 days.
With many of the major indexes already below their 50-day moving average, @ACInvestorBlog is looking at the 100-day moving average and former support/resistance levels and eying a potential bottom into next week. 👀
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