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, select commodities, cryptocurrencies and global equity indices. Below chart, Array Technologies, Inc. is from the review section of the weekly report. It is featuring a possible developing head and shoulder reversal chart pattern.
ARRAY TECHNOLOGIES INC (ARRY.O)
Array Technologies, Inc. is a renewable energy company. The Company is a provider of utility-scale solar tracking technology. The stock is listed on the Nasdaq Stock Exchange. Price chart formed a 24 month-long head and shoulder bottom with the horizontal boundary acting as strong resistance at 25.00 levels. The horizontal boundary was tested several times over the course of the chart pattern. A daily close above 26.00 levels will confirm the breakout from the 24 month-long head and shoulder bottom with the possible chart pattern price target of 43.00 levels. The right shoulder might be forming an ascending triangle that can act as a launching pattern. Ascending triangle price target stands at 34 levels.
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