Curated by ZYTrade Editors: If you’re scanning the stock market for a potential swing trade, Thomas Bulkowski’s site does an impressive job at identifying tradable patterns for weekend scanning. Not everyone follows Thomas Bulkowski’s blog, so we’re reposting it here. By the way, if you’re serious about chart patterns, his site is an incredible resource for technical analysis education. 

You can find setups based on a Fibonacci retrace by clicking on the link.

The following patterns were found manually, not using Patternz. Mr. Bulkowski has excluded any securities he owns from appearing in the list. However, he may add any of the securities listed to his portfolio at any time, just as you can.

There were 34 patterns found this week (excluding pipe bottoms; pipe tops and bottoms are found looking back 2 weeks) out of 575 stocks searched, or 5.9%. Based on the percentage, the stock market is trending since few consolidation patterns appear.

I found 15 pipe bottom chart patterns, which is neutral. High numbers of pipe bottoms can signal a bullish move (I see many of them just before a bear market ends or during a bear market rally. Often it means the first bottom of a double bottom has formed. Thus, expect a move down to the second bottom).

Excluding ETFs, there were 36 bullish chart patterns this week and 4 bearish ones with any remaining (7) being undecided. The ratio of bullish to bearish patterns suggests the market is bullish.

In the table below, the red and green colors are based on the historical breakout direction for the associated chart pattern. If a high and tight flag appears, the start and end dates highlight the flagpole only and not the flag.

For details about the chart patterns, click here.

Bullish Patterns

Symbol 

Chart Pattern

Start

End

Industry

MMM

Triangle, symmetrical

05/10/2021

05/26/2021

Diversified Co.

AFL

Triangle, ascending

05/11/2021

05/26/2021

Insurance (Diversified)

ALB

Triangle, symmetrical

04/20/2021

05/21/2021

Chemical (Diversified)

AMN

Triangle, symmetrical

05/07/2021

05/27/2021

Human Resources

AMAT

Pipe bottom

05/10/2021

05/17/2021

Semiconductor Cap Equip.

AIZ

Rectangle top

04/30/2021

05/27/2021

Insurance (Diversified)

BKNG

Pipe bottom

05/10/2021

05/17/2021

Internet

BRKS

Pipe bottom

05/10/2021

05/17/2021

Semiconductor Cap Equip.

BBW

Flag, high and tight

03/29/2021

05/27/2021

Retail (Special Lines)

CBT

Triangle, ascending

05/07/2021

05/26/2021

Chemical (Diversified)

CAG

Triangle, symmetrical

03/30/2021

05/27/2021

Food Processing

CREE

Pipe bottom

05/10/2021

05/17/2021

Semiconductor

DECK

Rectangle top

02/02/2021

05/27/2021

Shoe

XRAY

Triangle, symmetrical

05/06/2021

05/25/2021

Medical Supplies

DDS

Flag

05/19/2021

05/26/2021

Retail Store

FB

Pipe bottom

05/10/2021

05/17/2021

E-Commerce

GME

Flag, high and tight

04/13/2021

05/27/2021

Retail (Special Lines)

GIS

Falling wedge

05/06/2021

05/27/2021

Food Processing

GPRO

Pipe bottom

05/10/2021

05/17/2021

Electronics

IDXX

Triangle, symmetrical

02/18/2021

05/27/2021

Drug

IPAR

Ugly double bottom

05/11/2021

05/24/2021

Toiletries/Cosmetics

KLAC

Pipe bottom

05/10/2021

05/17/2021

Semiconductor Cap Equip.

LRCX

Pipe bottom

05/10/2021

05/17/2021

Semiconductor Cap Equip.

L

Triangle, symmetrical

05/10/2021

05/27/2021

Insurance (Prop/Casualty)

MTSI

Pipe bottom

05/10/2021

05/17/2021

Semiconductor

MGEE

Broadening top, right-angled and descending

04/20/2021

05/24/2021

Electric Utility (Central)

MLI

Triangle, symmetrical

05/12/2021

05/27/2021

Metal Fabricating

NBR

Triangle, symmetrical

05/10/2021

05/27/2021

Oilfield Svcs/Equipment

NFG

Diamond bottom

05/19/2021

05/27/2021

Natural Gas (Diversified)

NVDA

Pipe bottom

05/10/2021

05/17/2021

Semiconductor

PYPL

Pipe bottom

05/10/2021

05/17/2021

Financial Services

PPG

Triangle, ascending

04/30/2021

05/27/2021

Chemical (Diversified)

PG

Triangle, ascending

05/10/2021

05/26/2021

Household Products

TER

Pipe bottom

05/10/2021

05/17/2021

Semiconductor Cap Equip.

TXT

Triangle, symmetrical

05/10/2021

05/26/2021

Diversified Co.

TRV

Triangle, symmetrical

05/10/2021

05/27/2021

Insurance (Prop/Casualty)

XLNX

Pipe bottom

05/10/2021

05/17/2021

Semiconductor Cap Equip.

QTEC

Pipe bottom

05/10/2021

05/17/2021

Electronics

MGK

Pipe bottom

05/10/2021

05/17/2021

None

 

Bearish Patterns

Symbol 

Chart Pattern

Start

End

Industry

ADTN

Rising wedge

05/07/2021

05/27/2021

Telecom. Equipment

BIO

Rectangle bottom

05/11/2021

05/27/2021

Medical Supplies

CX

Triangle, descending

05/10/2021

05/27/2021

Cement and Aggregates

GES

Diamond top

04/22/2021

05/26/2021

Apparel

THG

Diamond top

05/05/2021

05/27/2021

Insurance (Prop/Casualty)

HNI

Rising wedge

04/27/2021

05/27/2021

Furn/Home Furnishings

INOV

Roof, inverted

04/29/2021

05/26/2021

Healthcare Information

NXGN

Rectangle bottom

03/25/2021

05/26/2021

Healthcare Information

SRE

Roof

04/28/2021

05/27/2021

Electric Utility (West)

UPS

Triangle, descending

05/10/2021

05/26/2021

Air Transport

Trading futures, options on futures, and forex involves substantial risk of loss and is not suitable for all investors. The use of leverage is not suitable for all investors and losses exceeding your initial deposit is possible. Carefully consider whether trading is suitable for you in light of your circumstances, knowledge, and financial resources and only risk capital should be used. Opinions, market data, and recommendations are subject to change at any time. The lower the margin used the higher the leverage and therefore increases your risk. Past performance is not necessarily indicative of future results.