ASCENDING TRIANGLE IN EUROPE EQUITIES

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 Fuchs Petrolub SE listed on the Frankfurt Stock Exchange.

FUCHS PETROLUB SE (FPEG_p.DE)

Fuchs Petrolub SE is a Germany-based company engaged in the development, production and supply of lubricants and related products for industry. The stock is listed on the Frankfurt Stock Exchange. Price chart formed a 4 month-long ascending triangle with the horizontal boundary acting as strong resistance at 38.60 levels. The horizontal boundary was tested several times over the course of the chart pattern. A daily close above 39.70 levels will confirm the breakout from the 4 month-long ascending triangle with the possible chart pattern price target of 44.60 levels. (Data as of 26/08/2020)

 


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LONG-TERM CHART PATTERNS

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 FANCL CORP listed on the Tokyo Stock Exchange.

There is a common belief between finance professionals that Technical Analysis and charting is for short-term “timing” of entries and exits. I have written in different platforms that I think this is underestimating the power of charting and its uses in portfolio management and asset allocation. Portfolios/Funds hold different securities with different motivations. A fund manager can have a strong positive view on a company but if the stock is not being bought by the market, in other words the value not “yet” recognized by the market participants, it can remain in the portfolio resulting in opportunity cost.

Stocks go through consolidation periods followed by trends. It is during those trend periods that a fund or position traders will make money. Unless the fund manager/trader recognizes a well-defined trading range at its early stages and starts buying and selling in that range (selling at the resistance and buying at support), it is best to patiently wait for the breakout to take place from the lengthy consolidation.

Price can remain in a well-defined range for several months. Once the stock breaks out, it can take few weeks/months for the strong price appreciation to take place. I like to focus on chart patterns with horizontal boundaries. They are easier to identify on price charts and focusing on horizontal boundaries will remove the bias from your analysis. It is much easier to think that there is a diagonal trend line somewhere (seeing trend lines that are not valid) on the price chart. But it is relatively difficult to come up with a well-defined horizontal consolidation with price having several touches on the boundaries.

Earlier reports covered SHIMANO INC from Japan/Asia Equities as one of the breakout alerts. After remaining in a range for more than 5 years, SHIMANO INC completed its multi-year long consolidation on the upside. The chart pattern helped many long-term investors to position themselves in this name. Breakout took place to all-time highs, which I call it as the path of least resistance. SHIMANO INC is on its way towards the chart pattern price objective at 25,000 levels.

Another long-term breakout opportunity is discussed from Japan/ASIA equities in the Global Equity Markets report. FANCL CORP has a similar well-defined long-term consolidation that can complete soon. I’m monitoring this name for a confirmed breakout.

FANCL CORP (4921.T)

FANCL CORPORATION is a Japan-based company principally engaged in the research, development, manufacture and sale of cosmetics and dietary supplements. The stock is listed on the Tokyo Stock Exchange. Price chart formed a 2 year-long rectangle with the horizontal boundary acting as strong resistance at 3,225.0 levels. The horizontal boundary was tested several times over the course of the chart pattern. A daily close above 3,320.0 levels will confirm the breakout from the 2 year-long rectangle with the possible chart pattern price target of 4,315.0 levels. (Data as of 20/08/2020)


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NYFOSA AB (NYFO.ST)

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 NYFOSA AB listed on the Stockholm Stock Exchange.

NYFOSA AB (NYFO.ST)

Nyfosa AB is a Sweden-based real estate investment company. The stock is listed on the Stockholm Stock Exchange. Price chart formed a 2 month-long rectangle with the horizontal boundary acting as strong resistance at 68.50 levels. The horizontal boundary was tested several times over the course of the chart pattern. A daily close above 70.00 levels will confirm the breakout from the 2 month-long rectangle with the possible chart pattern price target of 76.00 levels. (Data as of 12/08/2020)

 


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DR.REDDY’S LABORATORIES LTD

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 Dr. Reddy’s Laboratories Limited listed on the National Stock Exchange of India.

DR.REDDY’S LABORATORIES LTD (REDY.NS)

Dr. Reddy’s Laboratories Limited is a pharmaceutical company that is engaged in providing medicines. The Company operates in three segments: Global Generics, Pharmaceutical Services and Active Ingredients (PSAI), and Proprietary Products. The stock is listed on the National Stock Exchange of India. Price chart formed a 3 month-long ascending triangle with the horizontal boundary acting as strong resistance at 4,150.00 levels. The horizontal boundary was tested several times over the course of the chart pattern. A daily close above 4,235.00 levels will confirm the breakout from the 3 month-long ascending triangle with the possible chart pattern price target of 4,650.00 levels. A possible H&S continuation chart pattern can act as launching pattern and complete at the same time as the ascending triangle. (Data as of 20/07/2020, 7:45 AM CET)

 


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SANOFI SA

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 SANOFI SA listed on the Paris Stock Exchange.

SANOFI SA (SASY.PA)

Sanofi is a healthcare company, focused on patient needs and engaged in the research, development, manufacture and marketing of therapeutic solutions. The stock is listed on the Paris Stock Exchange. Price chart formed a 6 month-long cup & handle continuation with the horizontal boundary acting as strong resistance at 94.80 levels. The horizontal boundary was tested several times over the course of the chart pattern. A daily close above 97.50 levels will confirm the breakout from the 6 month-long cup & handle continuation with the possible chart pattern price target of 116.50 levels. The handle part of the cup & handle chart pattern can be identified as a possible ascending triangle with the chart pattern price target of 105 levels. (Data as of 20/07/2020)


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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.
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  • 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.
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BASILEA PHARMACEUTICA AG

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 Basilea Pharmaceutica AG listed on the Swiss Stock Exchange.

BASILEA PHARMACEUTICA AG (BSLN.S)

Basilea Pharmaceutica AG is a Switzerland-based company engaged in the research, development and commercialization of pharmaceutical products. The Company focuses on pharmaceutical products in the therapeutic areas of bacterial infections, fungal infections and oncology. The stock is listed on the Switzerland Stock Exchange. Price chart formed a 3 month-long rectangle with the horizontal boundary acting as strong resistance at 52.80 levels. The horizontal boundary was tested several times over the course of the chart pattern. A daily close above 53.85 levels will confirm the breakout from the 3 month-long rectangle with the possible chart pattern price target of 58.50 levels. (Data as of 14/07/2020 CET 10:45)


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HISENSE VISUAL TECHNOLOGY CO

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 the China SSE 50 Index and from the watchlist section a breakout opportunity on Hisense Visual Technology Co listed on the Shanghai Stock Exchange.

China SSE 50 Index breached the upper boundary of its possible 5 year-long symmetrical triangle. Last week’s strong performance cleared important technical levels. Breakout from the 5 year-long symmetrical triangle can set the tone for Emerging Markets performance in the coming years. Strong performance on the SSE 50 Index alerts us to consider Hong Kong and China listed equities. Below is a bullish chart pattern development on Hisense Visual Technology Co from Shanghai Stock Exchange. More and more bullish setups are developing on Chinese and Hong Kong listed equities. (Data as of 07/07/2020 CET 15:00)

HISENSE VISUAL TECHNOLOGY CO LTD (600060.SS)

Hisense Visual Technology Co., Ltd., formerly QINGDAO HISENSE ELECTRIC CO., LTD., is a China-based company principally engaged in the manufacture and distribution of televisions. The Company’s main products are television sets, including ultra liquid crystal display (LCD) televisions, laser televisions and personal Internet televisions. The Company distributes its products in domestic and overseas markets. The stock is listed on the Shanghai Stock Exchange. Price chart formed a 5 month-long H&S continuation with the horizontal boundary acting as strong resistance at 13.90 levels. The horizontal boundary was tested several times over the course of the chart pattern. A daily close above 14.30 levels will confirm the breakout from the 5 month-long H&S continuation with the possible chart pattern price target of 18.00 levels.


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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.
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  • Information on breakout opportunities. Identify the ones you want to take action on.
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  • Watch list alerts. As they become available so you can act quickly.
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ENDEAVOUR MINING CORP

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 a flag/rectangle chart pattern that is listed on the Toronto Stock Exchange.

ENDEAVOUR MINING CORP (EDV.TO)

Endeavour Mining Corporation (Endeavour) is an intermediate gold producer. The Company is a gold mining company that operates four mines in Cote d’Ivoire (Agbaou and Ity), Burkina Faso (Karma) and Ghana (Nzema), along with project development and exploration assets. The stock is listed on the Toronto Stock Exchange. I’ve covered Endeavour Mining in the review section of previous reports. The long-term chart completed a multi-year long H&S bottom. The short-term price chart is possibly forming a month-long bullish flag that is acting as a pullback to the previously broken support/resistance. The horizontal boundaries for the bullish flag was tested several times over the course of the chart pattern. Current pullback can offer a new entry for those who missed the May breakout. Given the bullish chart setup on Gold ETF and cash Gold prices, mining companies can benefit from a possible breakout on Gold prices.

 


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  • Global Equities Report. Delivered weekly.
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RECTANGLE BREAKOUT OPPORTUNITY

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 a rectangle chart pattern that is listed on the Milan Stock Exchange.

MONCLER SPA (MONC.MI)

Moncler SpA is an Italy-based company engaged in fashion industry. The Company designs, produces and distributes clothing and accessories through Moncler brand. The stock is listed on the Milan Stock Exchange. Over the past 3 months the stock formed a short-term consolidation between 30.8 and 35.6 levels. The short-term consolidation can be identified as rectangle. A daily close above 36.6 levels will confirm the breakout with the possible chart pattern price target of 40.6 levels. Breakout from the rectangle can also clear the 200-day average which is acting as resistance at the same level. I’ve adjusted the upper boundary of the rectangle to 35.6 levels to better reflect the boundaries of the consolidation range. (Data as of June 18, 2020 CET 10:30 AM) (Learn more: Video Tutorial)

 


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

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  • Global Equities Report. Delivered weekly.
  • Classical charting principles. Learn patterns and setups.
  • Actionable information. Worldwide indices and stocks of interest.
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  • 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.
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CUP & HANDLE CONTINUATION

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 a cup & handle continuation chart pattern listed on the Nasdaq Stock Exchange.

Also you will find below a short educational video on how to identify a cup & handle continuation chart pattern, how to measure price objective and what to expect following the breakout.

If you are interested to learn more about classical charting principles and fine points on how to trade those breakout opportunities, our annual special discount is still ongoing and finalizing today (June 10th). You can get access to everything on Tech Charts website for $29 for 3 months (special discounted price is valid for the first 3 months only). More than 35 educational videos, each with 5-10 min of important points to look for on a classical chart pattern.

Here is the link for special 3rd anniversary discount >> GET ACCESS NOW

MOMENTA PHARMACEUTICALS INC (MNTA.OQ)

Momenta Pharmaceuticals, Inc. is a biotechnology company. The Company is focused on developing generic versions of drugs, biosimilars and therapeutics for oncology and autoimmune disease. The stock is listed on the Nasdaq Stock Exchange. Price chart formed a 4 month-long cup & handle continuation with the horizontal boundary acting as strong resistance at 34.60 levels. The horizontal boundary was tested several times over the course of the chart pattern. A daily close above 35.60 levels will confirm the breakout from the 4 month-long cup & handle continuation with the possible chart pattern price target of 46.60 levels. The handle part of the chart pattern can be identified as a rectangle with the possible chart pattern price target of 40 levels. (Data as of June 9, 2020)

CUP & HANDLE CONTINUATION CHART PATTERN


 


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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.

Get Access Now