INTERIM UPDATE – October 9, 2020

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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 latest additions to Tech Charts watchlist in case they experience breakouts in the last day of the week. These charts will also be included in the weekly update.

ATHENE HOLDING LTD (ATH.N) – new addition to watchlist

Athene Holding Ltd is a retirement services company. The Company issues, reinsures and acquires retirement savings products across the United States and the District of Columbia. The stock is listed on the New York Stock Exchange. Price chart formed a 4 month-long cup & handle continuation with the horizontal boundary acting as strong resistance at 38.00 levels. The horizontal boundary was tested several times over the course of the chart pattern. A daily close above 39.15 levels will confirm the breakout from the 4 month-long cup & handle continuation with the possible chart pattern price target of 46.7 levels. (Learn more: Video Tutorial)

ERO COPPER CORP (ERO.TO) – new addition to watchlist

Ero Copper Corp is a Canada-based company focused on copper production from the Vale do Curaca Property that is located in Bahia, Brazil. The Company’s primary asset is a Brazilian copper mining company, Mineracao Caraba S.A. (MCSA), owner of the Vale do Curaca Property. The stock is listed on the Toronto Stock Exchange. Price chart formed a 3 month-long cup & handle continuation with the horizontal boundary acting as strong resistance at 20.00 levels. The horizontal boundary was tested several times over the course of the chart pattern. A daily close above 20.60 levels will confirm the breakout from the 3 month-long cup & handle continuation with the possible chart pattern price target of 24.0 levels. The handle part of the chart pattern can be identified as a H&S continuation chart pattern. (Learn more: Video Tutorial)

E.L.F. BEAUTY INC (ELF) – new addition to watchlist

e.l.f. Beauty, Inc., is a cosmetic company. The Company conducts its business under the name e.l.f. Cosmetics, and offers products for eyes, lips and face to consumers through its retail customers, e.l.f. stores and e-commerce channels. The stock is listed on the New York Stock Exchange. Price chart formed a 3 month-long rectangle with the horizontal boundary acting as resistance at 21.05 levels. The horizontal boundary was tested several times over the course of the chart pattern. A daily close above 21.70 levels will confirm the breakout from the 3 month-long rectangle with the possible chart pattern price target of 24.7 levels. (Learn more: Video Tutorial)

INDEPENDENCE REALTY TRUST INC (IRT.N) – new addition to watchlist

Independence Realty Trust, Inc. is an internally-managed real estate investment trust (REIT). The Company is engaged in the business of owning, managing, operating, leasing, acquiring, developing, investing in, and disposing of real estate assets. The stock is listed on the New York Stock Exchange. Price chart formed a 4 month-long rectangle with the horizontal boundary acting as strong resistance at 12.30 levels. The horizontal boundary was tested several times over the course of the chart pattern. A daily close above 12.65 levels will confirm the breakout from the 4 month-long rectangle with the possible chart pattern price target of 14.0 levels. (Learn more: Video Tutorial)

SUN COMMUNITIES INC (SUI.N) – new addition to watchlist

Sun Communities, Inc. is a self-administered and self-managed real estate investment trust (REIT). The Company is a fully integrated real estate company, which, together with its affiliates and predecessors, has been in the business of acquiring, operating, developing, and expanding manufactured housing (MH) and recreational vehicle (RV). The stock is listed on the New York Stock Exchange. Price chart formed a 4 month-long rectangle with the horizontal boundary acting as strong resistance at 150.50 levels. The horizontal boundary was tested several times over the course of the chart pattern. A daily close above 155.00 levels will confirm the breakout from the 4 month-long rectangle with the possible chart pattern price target of 167.0 levels. (Learn more: Video Tutorial)

MADRIGAL PHARMACEUTICALS INC (MDGL.OQ) – new addition to watchlist

Madrigal Pharmaceuticals, Inc., formerly Synta Pharmaceuticals Corp., is a clinical-stage biopharmaceutical company. The Company focuses on the development and commercialization of therapeutic candidates for the treatment of cardiovascular-metabolic diseases and nonalcoholic steatohepatitis (NASH). The stock is listed on the Nasdaq Stock Exchange. Price chart formed a 19 month-long head and shoulder bottom with an upward sloping neckline acting as resistance at 132.00 levels. The upward sloping neckline is more bullish that the horizontal boundary due to its upward bullish bias. A daily close above 136.00 levels will confirm the breakout from the 19 month-long head and shoulder bottom with the possible chart pattern price target of 200.0 levels. (Learn more: Video Tutorial)