RECTANGLE – SHOP APOTHEKE EUROPE

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 Shop Apotheke Europe listed on the Frankfurt Stock Exchange.

SHOP APOTHEKE EUROPE NV (SAEG.DE)

Shop Apotheke Europe NV is a company based in the Netherlands that retails pharmaceutical products online. The Company focuses on non-prescription medication (OTC), as well as on pharmacy-related beauty and personal care (BPC) products. The Company is active in Belgium, Spain, Italy, France, Austria, the Netherlands and Germany. The stock is listed on the Frankfurt Stock Exchange. Price chart formed a 4 month-long rectangle chart pattern with the horizontal boundary acting as strong resistance at 166.00 levels. The horizontal boundary was tested several times over the course of the chart pattern. A daily close above 171.00 levels will confirm the breakout from the 4 month-long rectangle with the possible chart pattern price target of 210.0 levels. Breakout can push the stock to all-time highs.


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