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 Marsh & McLennan Companies, Inc.
MARSH & MCLENNAN COMPANIES INC (MMC)
Marsh & McLennan Companies, Inc. is a professional services firm offering clients advice and solutions in risk, strategy and people. The Company is the parent company of various risk advisors and specialty consultants, including Marsh, the insurance broker; Guy Carpenter, the risk and reinsurance specialist; Mercer, the provider of human resource and investment related financial advice and services, and Oliver Wyman Group, the management and economic consultancy. The stock is listed on the New York Stock Exchange. Price chart formed a 3 month-long cup & handle continuation with the horizontal boundary acting as strong resistance at 120.00 levels. The horizontal boundary was tested several times over the course of the chart pattern. A daily close above 122.50 levels will confirm the breakout from the 3 month-long cup & handle continuation with the possible chart pattern price target of 133.00 levels. The cup & handle continuation is part of a larger scale ascending triangle that can complete at the same price level. (Data as of 26/03/2021, EST 9:30)
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