INTERIM UPDATE – May 29, 2020
I start my research on Mondays and finalize by end of day Thursday. Friday is dedicated to putting all ideas to the report format. During the week I come across good setups and those are featured in the weekly report. However, there are those that pop during the week and is worth bringing to your attention before the week finalizes. Below are 3 additions to Tech Charts watchlist that may experience breakouts. These charts will also be included in the weekly update.
SNAM SPA (SRG.MI) – new addition to watchlist
Snam SpA is an Italy-based company engaged in the management of natural gas services. The stock is listed on the Milan Stock Exchange. Price chart formed a 2 month-long ascending triangle with the horizontal boundary acting as strong resistance at 4.20 levels. The horizontal boundary was tested several times over the course of the chart pattern. A daily close above 4.32 levels will confirm the breakout from the 2 month-long ascending triangle with the possible chart pattern price target of 4.80 levels. (Data as of 2:15 pm CET, May 29,2020) (Learn more: Video Tutorial)
CORESITE REALTY CORP (COR.N) – new addition to watchlist
CoreSite Realty Corp is a real estate investment trust (REIT). The Company, through its controlling interest in CoreSite, L.P. (Operating Partnership), is engaged in the business of owning, acquiring, constructing and operating data centers. The stock is listed on the New York Stock Exchange. Price chart formed a 30 month-long rectangle with the horizontal boundary acting as strong resistance at 122.0 levels. The horizontal boundary was tested several times over the course of the chart pattern. The daily close above 126.0 levels confirmed the breakout from the 30 month-long rectangle with the possible chart pattern price target of 155.0 levels. (Learn more: Video Tutorial)
SMART GLOBAL HOLDINGS INC (SGH.OQ) – new addition to watchlist
SMART Global Holdings, Inc. is a provider of specialty memory, storage and hybrid solutions. The Company delivers components, modules and storage solutions to original equipment manufacturers (OEMs) in computing, networking, communications, storage, mobile and industrial markets. The stock is listed on the Nasdaq Stock Exchange. Price chart formed a 2 month-long ascending triangle with the horizontal boundary acting as strong resistance at 27.50 levels. The horizontal boundary was tested several times over the course of the chart pattern. A daily close above 28.30 levels will confirm the breakout from the 2 month-long ascending triangle with the possible chart pattern price target of 33.00 levels. (Learn more: Video Tutorial)
