SIEMENS ENERGY AG (ENR1n.DE)

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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, SIEMENS ENERGY AG (ENR1n.DE) is from the watchlist sections of the weekly report. It is featuring a possible rectangle chart pattern that might act as a bullish continuation.

SIEMENS ENERGY AG (ENR1n.DE)

Siemens Energy AG is a Germany-based company engaged in the energy technology. The Company focuses on the design, development, manufacture and supply of products, installation and technologically advanced services in the renewable energy sector with a focus on wind power plants. The Company also provides services including management, operation and maintenance. The stock is listed on the Frankfurt Stock Exchange. Price chart formed a 3 month-long rectangle with the horizontal boundary acting as strong resistance at 27.30 levels. The horizontal boundary was tested several times over the course of the chart pattern. A daily close above 28.12 levels will confirm the breakout from the 3 month-long rectangle with the possible chart pattern price target of 32.20 levels.

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