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Stocktwits Chart Art: May 01, 2024

The best charts and trade ideas from the day.

Author

Tom Bruni
May 01, 2024

STOCKTWITS CHART ART: MAY 01, 2024
The Stocktwits Summary 📝

It was another mixed day in the market, with Powell’s press conference sending stocks sharply higher before giving back all their gains in the final hour of trading. The major indexes continue to look for a savior, with Apple the next candidate as it reports tomorrow after the bell. 🆘

Here’s how the major indexes ended the day:

Index

ST Sentiment Score

ST Message Volume

$SPY (-0.37%)

Bearish (27)

High (63)

$QQQ (-0.72%)

Neutral (45)

High (62)

$IWM (+0.17%)

Bullish (56)

High (61)

$DIA (+0.30%)

Bullish (57)

High (65)

*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
Eying Starbucks As It Sinks Toward Long-Term Support 👀

The global coffee chain’s lackluster earnings report is causing its recent downtrend to accelerate, as management slashed its forward guidance and failed to tell the market a compelling story about its turnaround plans. 👎

Still, despite the weakening fundamental backdrop and Wall Street downgrades, some technical analysts are closely watching for signs of stabilization.

Stocktwits user Sean Jackson is one of them, sharing a chart that suggests the mid-60s could be an area for bottom-fishers to look at buying the stock. 🛒

@TheProphetOfProfit | Pro | Technicals | Equities/Options

$SBUX looks destined for $65.43-$67.71 after today’s poor ER. With that said, that’s a very strong level of support, and would be a great level to go long.

Abbott Labs Analog Suggests Epic Run Ahead 🧭

@SilverEagle | Intermediate | Technicals | Equities/Options

$ABT 2016-2018 set up?

Janux Therapeutics Jumps To All-Time Highs 🤩

@upsidetrader | Pro | Technicals | Equities

$JANX bull coil with a mini bull flag, very pretty

Another Healthcare Stock Making All-Time Highs ⚕️

@JFDI | Pro | Technicals/Growth | Equities

$GKOS knocking at century mark.

Social Media Stock Becomes $PINteresting After Breakout 🤔

@lcc007 | Pro | Technicals/Momentum | Equities/Options

$PINS Launched after better than expected earnings. Over 200 week MA and current base. Note $SNAP also beat...good pattern on the ad-plays coming back.

EV Maker Nio’s Delivery Boost Sparks A Reversal ⚡

@G_R_ | Pro | Technicals | Equities/Options/Futures

$NIO 🤷‍♂️

FuboTV Finds Buyers As Media Sector Remains Mixed 📺

@dojidad | Intermediate | Technicals | Equities

$FUBO This looks really good based on the news in the comments. For me, it needs to clear the 50-day, but I can see an entry below. I just need less risk and .9 cents isn't a big deal. Have a great week. Trading over the 50-day is a bigger deal. My alert is 1.61.

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