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Stocktwits Chart Art: May 07, 2024

The best charts and trade ideas from the day.

Author

Tom Bruni
May 07, 2024

STOCKTWITS CHART ART: MAY 07, 2024
The Stocktwits Summary 📝

Markets put in another green day as we get into the heat of earnings. Consumer defensive stocks like $COST were the leaders in today’s session with communication services not far behind.

Here’s how the major indexes ended the day:

Index

ST Sentiment Score

ST Message Volume

$SPY (+0.11%)

Extremely Bearish (22)

Normal (53)

$QQQ (+0.02%)

Neutral (53)

Normal (52)

$IWM (+0.23%)

Neutral (50)

Normal (50)

$DIA (+0.07%)

Bearish (39)

Normal (49)

*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
Caution Lights Flashing for the Nasdaq ⚠️

Market sentiment took a noticeable dive from yesterday, which coincides with tech running up against resistance while trading at extremely overbought levels…

Kim’s chart below highlights the potential gap fill areas that we may hit if we get a real turn towards the downside.

@2kaykim | Pro | Technicals | Equities/Options/Crypto

🚨 $QQQ down-gap has NOT been filled and we are stalling here at the falling resistance while the oscillator at extreme overbought!

Waiting for Airbnb to Rise and Shine 😎

Professor | Pro | Technicals | Equities/Crypto

$ABNB #Airbnb Weekly keeps getting HOTTer... When out---> Moon 🌙

Pfizer May Need to Take a Breather 😮‍💨

@Forklift5909 | Pro | Technicals | Equities/Options

$PFE Time to cool off. Hell of a run.👍

Tesla Finds New Support Levels 💁‍♂️

@microm | Pro | Technicals | Equities/Crypto

$TSLA looking for this area that was previously resistance to flip into support near its 10/20 day EMA's currently sitting at $176.66 and $172.90. watching for RSI to bounce off 50 and stay above in the bull zone. I do have bids to add at the gap fill in $168s and gap window in $158s just in case lower prices are to come.

Biotech Giant Getting Ready for Move Higher? 🧑‍🔬

@JFDI | Pro | Technicals/Growth | Equities

$ISRG pushing thru high of that 4/19 sell off bar. I like it as pivot to trade against.

Shake Out Before the Breakout for Coinbase? 🫨

@Thelonius_Stonk | Pro | Technicals | Equities/Crypto

$COIN just an idea, one more shake before blastoff seems possible

A Tale of Two Potential Gap Fills for Disney Stock 🤔

@framus_morrigan | Pro | Technicals | Equities

$DIS ER reaction 1/2. I wonder what open gap will be filled first ...

MercadoLibre Passes the Test ✅

@gpaisa | Pro | Technicals | Equities/Options

$MELI beautiful weekly 50SMA test and hold. When this goes...

Under-followed Semi Play Perks Up 👀

@AskLou | Intermediate | Technicals/Momentum | Equities/Futures/Options

$VECO 10 year high. Buying some to start, blue dot special

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