Traders long MAT from late October can continue to hold those positions but raise sell stops.
Plus, Thursday was a solid day for nearly all sectors of the market, though Peloton Interactive pulls back after posting results.
The forces that benefited shares of companies such as Peloton Interactive and Clorox may not sustain them once the impact of the virus subsides.
Traders should stand aside and let this correction play out.
The charts of Smith & Wesson Brands and Sturm Ruger indicate it might be best to hold your fire if you're inclined to buy their shares.
It's not a good sign when a stock shows weakness before a quarterly report.
The stocks of Walt Disney Co. and Pfizer seem to offer nice upside potential based on their technical patterns.
A stock that declines in the face of what appears to be bullish news tells us something.
Here's our latest analysis and trading strategy for the shares.
There is a risk of a pullback to the top of the base pattern or down to the $30 area.