Stock Chart Alert

The chart for Diamond Offshore Drilling (DO) is forming a descending triangle. The descending triangle is considered a bearish consolidation. But you need to wait for a breakout to the downside, if you are interested in shorting the stock. Click the read more link for a minimum price target.

The chart for Philip Morris (PM) is forming a symmetrical triangle. PM has been on an uptrend, so you'd expect the triangle to be a consolidation before breaking out to the upside. It's best to wait though, because a breakout can occur in any direction. Click the read more link for a minimum price target.

The chart of Cerner Corp (CERN) has just formed a falling wedge pattern. This is a bullish pattern. The stock broke out today. Click the read more link for a minimum price target.

Power Shares QQQ Trust (QQQQ) which tracks the NASDAQ stock index is forming what appears to be an ascending triangle. This is considered a bullish formation, but you need a breakout to the upside for confirmation. The volume typically decreases throughout the formation of the pattern. Read on for price targets.