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5 Big Stock Charts You Need to See

TD Ameritrade

Last up is brokerage firm TD Ameritrade (AMTD - Get Report), the one firm that's primed to benefit most directly from a rally in stocks -- and its chart shows it. AMTD has gotten hammered over the last year, underperforming the broad market by around 20% since last January. That's come largely at the hands of prolonged low trading volumes for stocks and historically low interest rates earned on its cash float -- an equity rally fixes both of those problems.

But that's a long-term thesis. In the short term, the double-bottom breakout in AMTD holds the key to gains. A double bottom is a reversal pattern that's formed by two swing lows that bottom out at approximately the same price level. They're separated by a peak, a level that marks the trigger point for this trade. AMTD broke out above its peak on Wednesday, confirming the move with yesterday's open and close above that level.

This is a long-term pattern, and as a result, it's got long-term trading implications. That means that we could see AMTD move higher pretty quickly over the next couple of months. RSI adds some extra confidence to this trade as well - but price is the most important thing to watch here for an entry. I'd recommend going long on this stock's next white bar day; then, I'd recommend keeping a protective stop in place just below $15.

To see this week's trades in action, check out this week's Must-See Charts portfolio on Stockpickr.

-- Written by Jonas Elmerraji in Baltimore.


Follow Stockpickr on Twitter and become a fan on Facebook.

At the time of publication, author had no positions in stocks mentioned.

Jonas Elmerraji, CMT, is a senior market analyst at Agora Financial in Baltimore and a contributor to
TheStreet . Before that, he managed a portfolio of stocks for an investment advisory returned 15% in 2008. He has been featured in Forbes , Investor's Business Daily , and on Jonas holds a degree in financial economics from UMBC and the Chartered Market Technician designation.
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PHM $18.39 0.00%
SPY $206.33 0.00%
MSFT $49.87 0.00%
OTEX $55.92 0.00%
AMTD $29.83 0.00%


Chart of I:DJI
DOW 17,773.64 -57.12 -0.32%
S&P 500 2,065.30 -10.51 -0.51%
NASDAQ 4,775.3580 -29.9330 -0.62%

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