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 Fuchs Petrolub SE listed on the Frankfurt Stock Exchange.
FUCHS PETROLUB SE (FPEG_p.DE)
Fuchs Petrolub SE is a Germany-based company engaged in the development, production and supply of lubricants and related products for industry. The stock is listed on the Frankfurt Stock Exchange. Price chart formed a 4 month-long ascending triangle with the horizontal boundary acting as strong resistance at 38.60 levels. The horizontal boundary was tested several times over the course of the chart pattern. A daily close above 39.70 levels will confirm the breakout from the 4 month-long ascending triangle with the possible chart pattern price target of 44.60 levels. (Data as of 26/08/2020)
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