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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. The report starts with a review section that highlights the important chart developments on global equity benchmarks. This blog post features from the review section Russell 2000 Index.

If you have been struggling with stocks being choppy with frequent false breakouts, the chart below might explain the last several months lackluster performance. Russell 2000 Index has been range bound since February 2021. The index formed a well-defined consolidation range that can act as a bullish continuation as well as a top reversal. Rectangle chart pattern can act as a top reversal. The lower boundary of the well-defined consolidation is forming support at 2,100 levels with the 200-day moving average acting as another layer of support at 2,110 levels. When a well-defined, several times tested horizontal boundary overlaps with a long-term average (my preference is the 200-day EMA), I call these inflection points. Inflection points are important technical areas where we can expect a rebound or a breakdown that can result in a strong directional move. In other words those areas of “change”.

Russell 2000 Index is now very close to the lower boundary of its multi-month long consolidation. Breakdown can target 1,870 levels. A rebound from the strong support area can result in a re-test of the upper boundary at 2,360 levels.

Tech Charts Membership

By becoming a Premium Member, you’ll be able to improve your knowledge of the principles of classical charting.

With this knowledge, you can merge them with your investing system. In fact, some investors use my analyses to modify their existing style to invest more efficiently and successfully.

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As a Premium Member of Aksel Kibar’s Tech Charts,

You will receive:

• Global Equities Report. Delivered weekly.
• Classical charting principles. Learn patterns and setups.
• Actionable information. Worldwide indices and stocks of interest.
• Risk management advice. The important trading points of each chart.
• Information on breakout opportunities. Identify the ones you want to take action on.
• Video tutorials. How patterns form and why they succeed or fail.
• Watch list alerts. As they become available so you can act quickly.
• Breakout alerts. Usually once a week.
• Access to everything (now and as it becomes available)
  o Reports
  o Videos and video series
• Multi-part webinar course. You learn the 8 most common charting principles.
• Webinars. Actionable and timely advice on breaking out chart patterns.

For your convenience your membership auto renews each year.

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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. 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 RBC BEARINGS INC (ROLL.O) listed on the Nasdaq Stock Exchange.

RBC BEARINGS INC (ROLL.O)

RBC Bearings Incorporated is an international manufacturer and marketer of engineered precision bearings and products, which are integral to the manufacture and operation of machines, aircraft and mechanical systems. The stock is listed on the Nasdaq Stock Exchange. Price chart formed a 4 month-long rectangle with the horizontal boundary acting as strong resistance at 207.00 levels. The horizontal boundary was tested several times over the course of the chart pattern. A daily close above 213.00 levels will confirm the breakout from the 4 month-long rectangle with the possible chart pattern price target of 230.00 levels. Breakout can push the stock to all-time highs.

Tech Charts Membership

By becoming a Premium Member, you’ll be able to improve your knowledge of the principles of classical charting.

With this knowledge, you can merge them with your investing system. In fact, some investors use my analyses to modify their existing style to invest more efficiently and successfully.

Get Access Now

As a Premium Member of Aksel Kibar’s Tech Charts,

You will receive:

• Global Equities Report. Delivered weekly.
• Classical charting principles. Learn patterns and setups.
• Actionable information. Worldwide indices and stocks of interest.
• Risk management advice. The important trading points of each chart.
• Information on breakout opportunities. Identify the ones you want to take action on.
• Video tutorials. How patterns form and why they succeed or fail.
• Watch list alerts. As they become available so you can act quickly.
• Breakout alerts. Usually once a week.
• Access to everything (now and as it becomes available)
  o Reports
  o Videos and video series
• Multi-part webinar course. You learn the 8 most common charting principles.
• Webinars. Actionable and timely advice on breaking out chart patterns.

For your convenience your membership auto renews each year.

Get Access Now

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. 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 Country Garden Services Holdings Company Limited listed on the Hong Kong Stock Exchange.

A high conviction setup for me needs to tick the boxes below. I look for few qualities with the perfect setups. These are:

A well defined chart pattern with horizontal boundaries

Preferably a rectangle chart pattern in duration 2 months – 24 months

A bullish setup (or breakout) taking place above the long-term (200 day) average

Preferably a breakout to all-time highs (path of least resistance)

The chart below is a candidate for a high conviction setup.

COUNTRY GARDEN SERVICES HOLDINGS CO LTD (6098.HK)

Country Garden Services Holdings Company Limited is a China-based provider of residential property management services. The Company mainly provides property management services, community value-added services and non-owner value-added services. The stock is listed on the Hong Kong Stock Exchange. Price chart formed a 3 month-long rectangle with the horizontal boundary acting as strong resistance at 83.00 levels. The horizontal boundary was tested several times over the course of the chart pattern. A daily close above 85.50 levels will confirm the breakout from the 3 month-long rectangle with the possible chart pattern price target of 93.80 levels.

Tech Charts Membership

By becoming a Premium Member, you’ll be able to improve your knowledge of the principles of classical charting.

With this knowledge, you can merge them with your investing system. In fact, some investors use my analyses to modify their existing style to invest more efficiently and successfully.

Get Access Now

As a Premium Member of Aksel Kibar’s Tech Charts,

You will receive:

• Global Equities Report. Delivered weekly.
• Classical charting principles. Learn patterns and setups.
• Actionable information. Worldwide indices and stocks of interest.
• Risk management advice. The important trading points of each chart.
• Information on breakout opportunities. Identify the ones you want to take action on.
• Video tutorials. How patterns form and why they succeed or fail.
• Watch list alerts. As they become available so you can act quickly.
• Breakout alerts. Usually once a week.
• Access to everything (now and as it becomes available)
  o Reports
  o Videos and video series
• Multi-part webinar course. You learn the 8 most common charting principles.
• Webinars. Actionable and timely advice on breaking out chart patterns.

For your convenience your membership auto renews each year.

Get Access Now

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 BEST BUY CO INC listed on the New York Stock Exchange.

BEST BUY CO INC (BBY)

Best Buy Co., Inc. is a provider of technology products, services and solutions. The Company offers products and services to the customers visiting its stores, engaging with Geek Squad agents, or using its Websites or mobile applications. It has operations in the United States, Canada and Mexico. The stock is listed on the New York Stock Exchange. Price chart formed a 8 month-long rectangle with the horizontal boundary acting as strong resistance at 124.00 levels. The horizontal boundary was tested several times over the course of the chart pattern. A daily close above 127.70 levels will confirm the breakout from the 8 month-long rectangle with the possible chart pattern price target of 150.00 levels.

Tech Charts Membership

By becoming a Premium Member, you’ll be able to improve your knowledge of the principles of classical charting.

With this knowledge, you can merge them with your investing system. In fact, some investors use my analyses to modify their existing style to invest more efficiently and successfully.

Get Access Now

As a Premium Member of Aksel Kibar’s Tech Charts,

You will receive:

• Global Equities Report. Delivered weekly.
• Classical charting principles. Learn patterns and setups.
• Actionable information. Worldwide indices and stocks of interest.
• Risk management advice. The important trading points of each chart.
• Information on breakout opportunities. Identify the ones you want to take action on.
• Video tutorials. How patterns form and why they succeed or fail.
• Watch list alerts. As they become available so you can act quickly.
• Breakout alerts. Usually once a week.
• Access to everything (now and as it becomes available)
  o Reports
  o Videos and video series
• Multi-part webinar course. You learn the 8 most common charting principles.
• Webinars. Actionable and timely advice on breaking out chart patterns.

For your convenience your membership auto renews each year.

Get Access Now

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 review section IShares MSCI Emerging Markets ETF (EEM) listed on the New York Stock Exchange.

ISHARES MSCI EMERGING MARKETS ETF (EEM)

The benchmark for the Emerging Markets performance, the iShares MSCI Emerging Markets Index ETF (EEM) rebounded strongly from support at 51.7. The uptrend is intact with the ETF trading above its 200-day average. Support at 51.7 held and EEM might be forming a medium-term low. I’m monitoring the possibility of a minor H&S bottom reversal with the neckline standing at 54.7 levels. Breakout above 54.7 levels can target 57.7.

Tech Charts Membership

By becoming a Premium Member, you’ll be able to improve your knowledge of the principles of classical charting.

With this knowledge, you can merge them with your investing system. In fact, some investors use my analyses to modify their existing style to invest more efficiently and successfully.

Get Access Now

As a Premium Member of Aksel Kibar’s Tech Charts,

You will receive:

• Global Equities Report. Delivered weekly.
• Classical charting principles. Learn patterns and setups.
• Actionable information. Worldwide indices and stocks of interest.
• Risk management advice. The important trading points of each chart.
• Information on breakout opportunities. Identify the ones you want to take action on.
• Video tutorials. How patterns form and why they succeed or fail.
• Watch list alerts. As they become available so you can act quickly.
• Breakout alerts. Usually once a week.
• Access to everything (now and as it becomes available)
  o Reports
  o Videos and video series
• Multi-part webinar course. You learn the 8 most common charting principles.
• Webinars. Actionable and timely advice on breaking out chart patterns.

For your convenience your membership auto renews each year.

Get Access Now