Today’s three big stock charts look at the varying technical situation that Twenty-First Century Fox Inc (NASDAQ:FOXA), Visa Inc (NYSE:V) and Raytheon Company (NYSE:RTN) find themselves in as the market continues to diverge and show less correlation between stocks.

This is turning more into a “stock pickers” market rather than a “buy the index” style rally, which is great for chart-watchers as we’re always able to find an opportunity to cash in on any market condition.

Twenty-First Century Fox Inc (FOXA)

Source: Chart courtesy of StockCharts.com

Twenty-First Century Fox shares tried to put in a rally from the short-term bottom that was formed near the end of May. Since then, FOXA stock has moved about 5% from its bottom. While some may see the move higher as confirmation of a bottom, the chart says otherwise.

1. The rally in Twenty-First Century Fox shares has taken them right to resistance at their 200-day moving average.
2. The 50-day moving average for FOXA stock is just overhead and declining in a rapid manner. This is going to apply additional pressure to the shares.
3. Twenty-First Century Fox’s 20-month moving average is also just overhead, indicating that there is significant pressure from a long-term perspective for the shares to stay below $27.82.

Watch for these technical chart factors to move FOXA stock lower as profit-takers take a rare opportunity to sell into some strength in the shares.

Visa Inc (V)

Source: Chart courtesy of StockCharts.com

Slow and steady has been the name of the game for Visa, and its not looking like it is ready to stop.

V shares are trading 24% higher for the year and with little-to-no volatility. The stock pays a slight dividend, but should be considered a growth name.

Visa is on our technical radar today for the following three reasons;

1. V stock has/is showing consistent relative strength leadership and it is garnering upgrades from Wall Street.
2. Shares of Visa remain in a strong bull market trend, trading above their 20-month moving average.
3. Short interest on V is 7 times the average daily volume, this indicates that the stock is a likely candidate for a short squeeze rally.

Watch for a solid move above $96 to start the short covering rally, which will likely pick-up speed as we watch Visa stock approach $97.

Raytheon Company (RTN)

Source: Chart courtesy of StockCharts.com

Defense companies have been rattling around along with the political headlines as investors try to determine whether the spending increases expected after the election will happen.

Raytheon shares have been able to maintain their strength, but that looks like it may come to an end for a short period.

1. After hitting new all-time highs, RTN stock is rolling over as profit-takers are moving in to cash in on the prices.
2. Raytheon stock has remained in technically overbought territory for weeks, indicating that there was a high likelihood that we would see a technical reversion to the mean at some point soon.
3. Volume is picking-up as we see sellers start to enter the market, meaning that the selling is likely to increase for RTN.

As of this writing, Johnson Research Group did not hold a position in any of the aforementioned securities.