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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 š
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. š¤
Hereās 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 Stocktwitsā top Trending symbols:
CHART OF THE DAY
Uranium Stocks Make New Highs Amid Metals Meltup āļø
With copper making new all-time highs, silver hitting 11-year highs, and gold firmly above $2,400, metals and mining stocksā uptrends accelerated further this week. Add in the energy commodity complex perking up as well, and youāve got a cocktail of catalysts for uranium stocks to continue their run.
And continue their run they areā¦ š
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 āgo nuclearā in the coming weeks remains to be seen, but itāll certainly be on tradersā radars. ā¢ļø
$FCX Remains A Top Pick Among Traders āļø
Traders Eye $MYGN Among A Myriad Of Setups š
Energy Sector Looks Poised To Break Out Again š¢ļø
Beaten-Down Utility Stock Begins Its Rebound šŖ«
Lemonade Looks Ripe For A Squeeze š
$OKTAās Breakout Grants Buyers Access To Higher Levels š
Stockās Uptrend Set To Go $ONON (And On) š
Buyers Stand In Clear Line To Purchase Chipotle Shares šÆ
Ethereum Sets Up To Retest Its YTD Highs āæ
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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. š
