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, emerging and frontier 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 from the watchlist section ENTRA ASA, listed on the Oslo Stock Exchange.
ENTRA ASA (ENTRA.OL [1])
Entra ASA (Entra) is a Norway-based real estate company. It is engaged in development, letting and management of energy efficient buildings. Its portfolio comprises over 100 buildings with a total area of more than 1.3 million square meters and focus on office real estate in central locations. The stock is listed on the Oslo Stock Exchange. Price chart formed a year-long ascending triangle with the horizontal boundary acting as strong resistance at 124 levels. The horizontal boundary was tested several times over the course of the chart pattern. A daily close above 127.5 levels will confirm the breakout from the year-long ascending triangle with the possible chart pattern price target of 142 levels. Breakout can push the stock to all-time highs. Breakout from bullish chart patterns to all-time highs is the path of least resistance. (Learn more: Video Tutorial [2])
A short video tutorial on ascending triangle as a bullish continuation chart pattern
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