TECH CHARTS WATCHLIST & ALERTS
Every week Tech Charts Global Equity Markets report features some of the well-defined, mature classical chart patterns under a lengthy watchlist and the chart pattern breakout signals that took place during that week. Global Equity Markets report covers single stocks from developed and emerging markets, ETF’s and global equity indices. The report starts with a review section that highlights the important chart developments on global equity benchmarks. This blog post features one of several great chart analysis that were highlighted in the watchlist section from the previous Global Equity Markets report. Also you will find another similar H&S continuation chart setup that completed on the upside and was featured in the breakout alerts section.
FULTON FINANCIAL CORP (FULT.O)
Fulton Financial Corporation is a financial holding company. The Company is the bank holding company of Fulton Bank N.A. (the Bank). The stock is listed on the Nasdaq Stock Exchange. Price chart formed a 14 month-long head and shoulder continuation chart pattern with the neckline acting as strong resistance at 19.45 levels. The horizontal boundary was tested several times over the course of the chart pattern. A daily close above 20.00 levels will confirm the breakout from the 14 month-long head and shoulder continuation with the possible chart pattern price target of 22.40 levels. Fulton Financial Corporation is preparing for a breakout to all-time high levels. Stocks that clear bullish continuation chart patterns and also breakout to all-time highs usually offer great long-term opportunity.
SHINNIHON CORP (1879.T)
SHINNIHON CORPORATION is a Japan-based construction company. The Company is comprised of two segments: Construction and Development. In its Construction segment, it engages in the design, planning and management of building construction and civil engineering works. It also operates repair construction for small-scale buildings. In its Development segment, the Company is engaged in the purchase of lands, construction and sale of buildings, as well as the allotment sale of housing estates. The stock is listed on the Tokyo Stock Exchange. Price chart formed a 15 month-long head and shoulder continuation chart pattern with the horizontal boundary (neckline) acting as strong resistance at 1,050 levels. The upper boundary was tested several times over the course of the chart pattern. The daily close above 1,080 levels confirmed the breakout from the 15 month-long head and shoulder continuation with the possible chart pattern price target of 1,300 levels.
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