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Stocktwits Chart Art: May 17, 2024
The best charts and trade ideas from the day.
Tom Bruni
May 17, 2024
STOCKTWITS CHART ART: MAY 17, 2024
The Stocktwits Summary 📝
Stocks may have broken their consecutive-day win streak, but they notched a fourth week in a row of gains even as commodities picked up steam. Despite the major indexes sitting near all-time highs, Stocktwits community sentiment again shows a bearish tilt, albeit on lackluster volume. 🤔
Here’s how the major indexes ended the day:
Index | ST Sentiment Score | ST Message Volume |
|---|---|---|
$SPY (+0.14%) | Bearish (27) | Normal (49) |
$QQQ (-0.05%) | Bearish (37) | Normal (50) |
$IWM (+0.07%) | Neutral (46) | Low (44) |
$DIA (+0.34%) | Bullish (62) | Normal (48) |
*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
Uranium Stocks Make New Highs Amid Metals Meltup ⚒️
With copper making new all-time highs, silver hitting 11-year highs, and gold firmly above $2,400, metals and mining stocks’ uptrends accelerated further this week. Add in the energy commodity complex perking up as well, and you’ve got a cocktail of catalysts for uranium stocks to continue their run.
And continue their run they are… 🏃
Stocktwits user @chessNwine highlighted the daily chart of uranium ETF $URA making new 10-year highs as the commodity crowd diversifies their bets across industries. Whether or not this trend will “go nuclear” in the coming weeks remains to be seen, but it’ll certainly be on traders’ radars. ☢️
$FCX Remains A Top Pick Among Traders ⛏️
Traders Eye $MYGN Among A Myriad Of Setups 👀
Energy Sector Looks Poised To Break Out Again 🛢️
Beaten-Down Utility Stock Begins Its Rebound 🪫
Lemonade Looks Ripe For A Squeeze 🍋
$OKTA’s Breakout Grants Buyers Access To Higher Levels 🔓
Stock’s Uptrend Set To Go $ONON (And On) 📈
Buyers Stand In Clear Line To Purchase Chipotle Shares 🌯
Ethereum Sets Up To Retest Its YTD Highs ₿
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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. 🔍
