I start my research on Mondays and finalize by end of day Thursday. Friday is dedicated to putting all ideas to the report format. During the week I come across good setups and those are featured in the weekly report. However, there are those that pop up early in the week and is worth bringing to your attention. Below are 3 additions to Tech Charts watchlist that may experience breakouts. These charts will also be included in the weekly update.
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Dear Tech Charts members,
Another year is almost behind us. 2019 has been a productive year. Your communications and feedback has been helpful in improving the membership service and I'm thankful for that. Without your support I would not be able to put out this product. I hope the ideas, the educational content, webinars and reports have added value in your decision making. Guided and motivated by our members feedback and comments there will be several new additions to Tech Charts membership service in the new Year. I look forward to announcing them as the new Year progresses. I wish all of you a healthy and successful new Year and I would like to thank you for being a Tech Charts member.
Regards,
Aksel Kibar, CMT
The benchmark for the Global equity markets performance, the iShares MSCI All Country World Index ETF (ACWI.O) reached its initial price target after completing both the rectangle and H&S continuation chart patterns. The right shoulder of a possible H&S continuation was identified as a rectangle with the price target of 79.6 levels. This week's price action pushed the ETF towards its rectangle chart pattern price target. Long-term chart pattern price objective stands at 85.5 levels. During any pullback, the high of 2018 (77.5) can act as support. Daily and weekly price charts show a steady uptrend.
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The benchmark for the Global equity markets performance, the iShares MSCI All Country World Index ETF (ACWI.O) continues to resume its uptrend after completing both the rectangle and H&S continuation chart patterns. Daily and weekly price charts show a steady uptrend. Rectangle price target stands at 79.6 levels.
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Dear Tech Charts members,
As mentioned in our previous communications I've been working on bringing more short-term chart pattern setups into your attention from the Global equity markets. In doing so I'm paying close attention to have liquid names. Tech Charts Global Equity markets report featured mostly chart pattern in duration between 4 months - 24 months. We are now focusing as well on chart patterns in duration between 2 months - 4 months featured on daily scale. I will continue to bring those opportunities either via Interim Updates or the weekly Global Equity Markets report. Below are 4 additions to Tech Charts watchlist that may experience breakouts in the last trading day of the week. These charts will also be included in the weekly update.
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The benchmark for the Global equity markets performance, the iShares MSCI All Country World Index ETF (ACWI.O) cleared the resistance at 77.5 levels. After a week of short-term volatility and pullback the ETF resumed higher towards its possible rectangle chart pattern price target at 79.6 levels. Both the daily and weekly price charts show a steady uptrend.
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Global Equity Markets report started focusing on shorter-term time frame chart pattern developments as well as long-term patterns. Short-term chart patterns are those that cover anything from 1 month to 3 months (according to Tech Charts Research), whereas longer-term patterns are from 4 months to 24 months. Short-term chart patterns are featured on daily scale price charts, and it is important to see and understand the price dynamics of those in comparison with weekly scale breakouts. We will dedicate this webinar to several short-term examples on different chart patterns such as cup & handle, ascending triangle, descending triangle, rectangle, H&S bottom, and compare those with similar developments on weekly scale price charts. I hope to touch on risk-reward, price target calculations, and breakout confirmation levels on all those chart pattern breakout examples.
Scheduled for: Thursday, December 12, 8:30 am mountain (register below)
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The benchmark for the Global equity markets performance, the iShares MSCI All Country World Index ETF (ACWI.O) found resistance at 77.5 levels. Last week's bearish shooting star candlestick pattern proved to be a short-term correction signal. Following a quick sell-off (intra-week) the ETF recovered to test its previous high.
Is the short-term correction over? Read More
The benchmark for the Global equity markets performance, the iShares MSCI All Country World Index ETF (ACWI.O) found resistance at 77.5 levels. This week's price action formed a shooting star candlestick around the resistance area. The shooting star is common candlestick that indicates the potential for a bearish reversal. This candlestick is characterized by a small body with a long upper wick and a short or nonexistent lower wick. In order to be classified as a shooting star, the upper wick of the candlestick should be at least twice as long as its body. The shooting star candlestick looks very similar to the inverted hammer candlestick. The defining difference is that shooting stars are bearish reversal signals at the top of of uptrends, while inverted hammers are bullish reversal signals at the bottom of downtrends.
The 5 month-long rectangle price target stands at 79.6 levels. Breakout above the minor resistance can push the ETF towards the price target at 79.6. Both the daily and weekly price charts show a steady uptrend. Unless we see a strong breakout above this week's high, ACWI ETF can trade between 74.8 and 77.5 levels in the following weeks.
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Dear Tech Charts members,
As mentioned in our previous communications I've been working on bringing more short-term chart pattern setups into your attention from the Global equity markets. In doing so I'm paying close attention to have liquid names. Tech Charts Global Equity markets report featured mostly chart pattern in duration between 4 months - 24 months. We are now focusing as well on chart patterns in duration between 2 months - 4 months featured on daily scale. I will continue to bring those opportunities either via Interim Updates or the weekly Global Equity Markets report. Below are 3 additions to Tech Charts watchlist that may experience breakouts in the last trading day of the week even though it will be a short session. These charts will also be included in the weekly update.
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