Mark Putrino

Mark Putrino

Benzinga Staff Writer

BZ Chart Of The Day: Is Bitcoin Going Even Lower?
Bitcoin (CRYPTO: BTC) has been trending lower. Now it appears to have broken an important support level. That means there’s a chance the downtrend continues.
BZ Chart Of The Day: Bed Bath & Beyond
The Bed Bath & Beyond (NASDAQ: BBBY) frenzy of the past week illustrated an important market principle.
BZ Chart Of The Day: Johnson & Johnson Is Nearing This Key Support Level
Johnson & Johnson (NYSE: JNJ) stock is oversold and getting close to a level that has been support in the past. Oversold refers to momentum. It means the stock has been aggressively sold so hard that it is below what would be its usual or typical trading range.
BZ Chart Of The Day: Why This Chart Spells 'Recession'
The yield curve is the most inverted that it has been since 2000. This could be a sign of recession. It has been an accurate indicator in the past. The amount of a dividend that a bond pays is fixed. So as the price of the bond fluctuates, so will the percentage yield.
BZ Chart Of The Day: Rectangle Pattern Forms In Opendoor Technology
When a stock is in a trading range for an extended period of time, a rectangle pattern forms on the charts. This is the case with Opendoor Technologies (NASDAQ: OPEN).
BZ Chart Of The Day: Airbnb Finds Support
Shares of Airbnb, Inc. (NASDAQ: ABNB) have trended lower since the company reported its earnings. But the stock has found support around $108. This means it may rally. There is a reason why the $108 level is support. It’s because it has previously been a resistance level.
BZ Chart Of The Day: Is Meta About To Breakdown?
Shares of Meta Platforms Inc. (NASDAQ: META) may be about to form a new downtrend. The stock is testing support. If the support breaks it could make a rapid move lower.
BZ Chart Of The Day: Is It Time To Buy Walmart?
Sometimes a market can have a memory. This is why it may be time to buy Walmart Inc (NYSE: WMT).
BZ Chart Of The Day: Is Tesla About To Break Out?
Tesla, Inc. (NASDAQ: TSLA) may be about to break out. This means the share price could move even higher.
BZ Chart Of The Day: Is Apple Breaking Out?
Apple Inc. (NASDAQ: AAPL) appears to be breaking out. This means the shares could continue to move higher.
BZ Chart Of The Day: Is Meta About To Break Out?
Shares of Meta Platforms, Inc. (NASDAQ: META) may be about to break out. That means they would move higher.
BZ Chart Of The Day: An ETF For The Recession
Oil has been in a freefall. The ProShares UltraShort Bloomberg Crude Oil ETF (NYSE: SCO) has been skyrocketing. And if oil keeps dropping, SCO will move even higher.
BZ Chart Of The Day: AMD Drops Back To Support
Shares of Advanced Micro Devices, Inc. (NYSE: AMD) have reached a support level. This means they could rebound and rally.
BZ Chart Of The Day: Is It Finally Time To Buy Gold?
Gold is oversold and at support. That means it may be time to buy the commodity. The downtrend that started in March may be over. The term "oversold" refers to a security’s momentum. This is a measure of how far it has moved in a given time. If it gets sold aggressively and pushed below its typical range, traders say it’s oversold.
BZ Chart Of The Day: AMD Tests Critical Support
After a steep and rapid downtrend, shares of Advanced Micro Devices, Inc. (NYSE: AMD) have reached a critical support level. If it breaks, the shares could continue to trend lower. But if the support holds, meaning that the stock doesn’t trade below it, there could be a rebound.
BZ Chart Of The Day: History Says SPY Goes Lower
If history is any guide, and it usually is, the SPDR S&P 500 ETF Trust (NYSE: SPY) could continue to trend lower. It may even get all the way down to $310, which is about 17% below current levels.
BZ Chart Of The Day: AMD Slams Into Resistance
Shares of Advanced Micro Devices, Inc. (NYSE: AMD) have slammed into a wall of resistance. This means they may not move much higher in the short run.
BZ Chart Of The Day: This Chart Says SPY May Bounce
Sentiment is extremely bearish. That means shares of the SPDR S&P 500 ETF Trust (NYSE: SPY) may rally.
BZ Chart Of The Day: Berkshire Hathaway Breaks Critical Support
Shares of Berkshire Hathaway Inc. (NYSE: BRK-B) have broken an important support level. That means there’s a chance they will continue to fall even further.
BZ Chart Of The Day: Is Oil Going Even Higher?
Oil is testing resistance. If it breaks through, it could form a new uptrend. Resistance is a large group of investors trying to sell at, or close to, the same price. At these levels, there is more supply than demand. This is why rallies end when they reach them. As you can see on the following chart, the $122.50 level has been resistance for oil.