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Stocktwits Chart Art: May 28, 2024

The best charts and trade ideas from the day.

Author

Tom Bruni
May 28, 2024

STOCKTWITS CHART ART: MAY 28, 2024
The Stocktwits Summary 📝

It was another mixed session in the U.S. equity markets, with traders recovering from their post-three-day weekend binge. Sluggish volumes didn’t stop the Nasdaq Composite from closing above 17,000 for the first time in its history. 😮

Here’s how the major indexes ended the day:

Index

ST Sentiment Score

ST Message Volume

$SPY (+0.07%)

Bearish (40)

Normal (51)

$QQQ (+0.38%)

Bullish (57)

Normal (54)

$IWM (-0.14%)

Bearish (33)

Normal (52)

$DIA (-0.52%)

Bearish (34)

Normal (52)

*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
Long-Term Channel Could Stop Stocks’ Advance 🛑

Stocks have been steadily climbing since the 2008 financial crisis, and many wonder when the last 15 years of amazing returns will come to an end.

Well, Stocktwits users @GOST offered one perspective in his long-term chart of the S&P 500 below, showing prices reaching the top of a long-term trend channel. Whether or not it matters remains to be seen, but it’s certainly one to watch as markets head into the quieter summer season. 👀

@GOST | Pro | Technicals | Equities

$SPY $BTC.X Events occur around the chart(s) and never vice versa. Its aways all about WHEN to move the market

Semiconductor Materials Supplier Is Setting Up Again 📈

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

$ENTG with a bullish setup... $SPX $SPY $QQQ Cute setup. Great opportunity to participate in the next up leg. Good luck.

Electronic Components Maker Nears A Breakout 🏭

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

$COHR is working on a potential "cup-and-handle" formation and setting up for a possible breakout near 62. Here's a weekly chart.

Bitcoin Buyers Eye Support At One-Month Moving Average 👀

@VR_CMT | Pro | Technicals | Equities/Options

Stalking a potential entry here in #bitcoin as it consolidates tightly above the 21 EMA. Previous entry triggered on May 15th. Waiting for momentum to flip back to positive to enter. $BTC.X

We Shall Sea (Ltd.) If Buyers Step In At Former Resistance 🤔

@ATMcharts | Pro | Technicals | Equities/Crypto

$SE sharp dip to an interesting pivot area (no position)

Trendline Could Halt DraftKing’s Recent Downdraft 🤲

@SharePlanner | Pro | Technicals | Equities/Futures

$DKNG attempting to hold the 200-day moving average and the long-term, rising trend-line. Potential bounce opportunity there, but needs to show it can hold this level into the close and then start to bounce some first.

Beaten-Down Solar Stock Looks Ready To $RUN 🏃

@framus_morrigan | Pro | Technicals | Equities

$RUN I think this name is about to ... RUN ... Monthly & Quarterly charts.

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