Daily Market Pulse: Key Technical Trends You Need Now

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TrendAnalyzer analyzing key trends in the market with a focus on identifying and interpreting market movements
 

•  02 Oct 2025
 

•   AZN  
   
  -0.17%
•   NEXT  
   
  +0.46%
•   NG  
   
  +0.10%
•   NVS  
   
  +0.18%
•   PLTR  
   
  +0.51%

$AZN AstraZeneca vaulted to a new all-time high following Trump's drug tariff delay, removing a significant overhang for pharmaceutical manufacturers. This breakout carries weight—52-week highs backed by catalysts tend to sustain rather than reverse. All-time highs eliminate overhead resistance entirely, creating a cleaner path for continued appreciation. Watch for healthy pullbacks to the breakout level as potential add zones rather than chasing extended moves. The defensive pharma characteristics combined with growth potential make this particularly appealing in uncertain markets.

$NG NovaGold extended to new all-time highs as preparations advance for one of the world's largest gold mines. This isn't just momentum—tangible project development underpins the technical strength. With no overhead resistance, the setup is powerful, especially for commodity stocks that move in pronounced cycles. Monitor the broader gold sector (GDX) for confirmation. Sustained above-average volume suggests accumulation rather than speculation. Use round numbers as profit-taking levels and potential re-entry points.

$NVS Novartis reached 52-week highs with solid fundamentals backing the move. The stock sits at a critical juncture—a decisive break above on strong volume would trigger algorithmic and momentum buying. However, 52-week highs also attract profit-taking. Watch for consolidation just below the high with rising lows, suggesting accumulation. Large-cap pharma tends to grind higher rather than explode, making this more of a position trade than a momentum scalp.

$NEXT NextDecade ranks among the most oversold energy stocks, with RSI likely below 30. Oversold conditions often precede technical bounces as selling exhausts itself. However, oversold doesn't automatically mean buy. Check crude oil trends and the broader energy sector (XLE) for confirmation. If $NEXT is oversold while the sector is strong, that signals company-specific issues. If the entire sector is oversold together, a coordinated bounce becomes more likely. Look for RSI divergence—price making new lows while RSI doesn't—as reversal signals. Use conservative position sizing given elevated volatility.

$PLTR Palantir technical patterns show constructive developments despite stretched valuation. When high-multiple growth stocks show improving technicals, it reflects institutional accumulation—smart money believing in the growth narrative. The government business provides stable revenue while AI initiatives offer upside potential. Identify the specific pattern (bull flag, ascending triangle) and key confirmation levels. Given Palantir's high beta, clear entry and exit points are essential. Avoid oversizing positions and use defined risk parameters.

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