Tech Charts Year in Review – Year Five, May 2022 Webinar

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Tech Charts Year in Review. Aksel compares the before and after of charts shared with Members over the last year followed by a live Q&A.

Tech Charts Year in Review – Year Five

  • A study on Chart Pattern Reliability with the available sample data over the past year.
  • Rectangle has been a reliable chart pattern with the H&S variations. Examples and studies on those reliable patterns.
  • Detailed statistics on different types of breakouts.
  • The impact of different market cycles on chart pattern opportunities.
  • Live Q&A

Live questions from Members

  1. SLIDE 5 – I only look for patterns that begin with a pivot point countering the preceding trend. However, I see on slide 5 that you’ve labeled the pattern beginning with two lower pivots after an uptrend. Am I being too rigid in defining my patterns? 50:55
  2. SLIDE 8 – In a Type 4 breakout, if the price reverses down and the negation level is hit, but the price then rebounds/recovers and breaks out again, why is the chart pattern destroyed? 52:20
  3. How is the breakout confirmation price calculated? 54:21 (Technical Analysis of Stock Trends, 5th Edition, Edwards and Magee) 
  4. In Peter Brandt’s book “Diary of a Professional Commodity Trader: Lessons from 21 Weeks of Real Trading,” he described the average duration of some classic patterns; my question is: do you have your own durations for classic chart patterns, or is the average duration universal to all classic chart patterns? 55:35 (Diary of a Professional Commodity Trader, Peter L. Brandt) 
  5. Do you take profits once a chart reaches its target, or do you let the trade run until you see signs of reversals? 56:35
  6. How many concurrent positions do you recommend a breakout trader hold? I’m reading the Mark Minervini books from your reading list, and he recommends holding no more than 4 positions (non-margined) to 8 positions (fully margined). Do you recommend similarly? 57:40
  7. I just want to make sure I understand that 1. the success rate is calculated from subjectively identified inside pattern minor price points? and hence 2. the success rate showed here has nothing to do with my trading success rate because everyone’s stop level can be different? so 3. if that’s the case, what’s the point of calculating the success rate here unless we all use that minor point inside the pattern as a stop level? 59:03

Recorded live 05.19.2022

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CRYPTOCURRENCIES – May 22, 2022

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Since the last report where we discussed breakdowns of major support levels on several pairs, cryptocurrencies have been under pressure. Many bearish chart patterns met their price objectives and several other are midway, still short of their chart pattern price targets. This issue will discuss those that still might have more downside and new pairs that can offer trends.

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GLOBAL EQUITY MARKETS – May 21, 2022

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REVIEW

The benchmark for the Global equity markets performance, the iShares MSCI All Country World Index ETF (ACWI.O) remains below its 200-day average and the minor low at 91.7 levels. The 200-day average is currently at 98.5 levels. Breakdown below the minor low resumed the downtrend. 91.7 levels becomes the resistance. There is no clear bottom reversal chart pattern on daily and weekly scale price charts. During any rebound, 91.7 levels will act as resistance.

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STAR BULK CARRIERS CORP (SBLK.O)

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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 is from the watchlist section of the weekly report. It is featuring a rectangle continuation chart pattern on Star Bulk Carriers Corp listed on the Nasdaq Stock Exchange.

STAR BULK CARRIERS CORP (SBLK.O)

Star Bulk Carriers Corp is a Greece-based shipping company. It owns and operates a fleet of dry bulk carrier vessels. The Company’s vessels transport major bulks, which include iron ore, coal and grain, and minor bulks, which include bauxite, fertilizers and steel products. The stock is listed on the Nasdaq Stock Exchange. Price chart formed a 2 month-long rectangle with the horizontal boundary acting as resistance at 31.90 levels. The horizontal boundary was tested several times over the course of the chart pattern. A daily close above 32.80 levels will confirm the breakout from the 2 month-long rectangle with the possible chart pattern price target of 39.00 levels. Rectangle can act as a continuation chart pattern after the stock completed a larger scale ascending triangle. Data as of May 16, 2022.

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

Tech Charts Year in Review with Aksel – Thursday, May 19, 830 am mountain

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Dear Tech Charts Members,

Tech Charts Year in Review. Aksel will compare the before and after of charts shared with Members over the last year. As always, we’ll end the webinar with a live Q&A.

Scheduled for: Thursday, May 19, 2022, at 8:30 am mountain (register below)

Tech Charts Year in Review – Year Five

  • A study on Chart Pattern Reliability with the available sample data over the past year.
  • Rectangle has been a reliable chart pattern with the H&S variations. Examples and studies on those reliable patterns.
  • Detailed statistics on different types of breakouts. 
  • The impact of different market cycles on chart pattern opportunities.
  • Live Q&A

Read more

GLOBAL EQUITY MARKETS – May 14, 2022

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REVIEW

The benchmark for the Global equity markets performance, the iShares MSCI All Country World Index ETF (ACWI.O) remains below its 200-day average and the minor low at 91.7 levels. The 200-day average is currently at 98.5 levels. Breakdown below the minor low resumed the downtrend. 91.7 levels becomes the resistance. The weekly scale price chart formed a long lower shadow with this week’s close and could be the first sign of a short-term bottom. There is no clear bottom reversal chart pattern on daily and weekly scale price charts.

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CRYPTOCURRENCIES – May 9, 2022

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The last report on cryptocurrencies read make or break week for many crypto pairs. So many chart were at inflection points. These was a bullish case to be made if right shoulders developed on chart. On the other hand if they failed, there were many chart that were waiting to break down well-defined horizontal supports. Right shoulders never developed and many horizontal setups broke down. Charts below are an update on those developing downtrends and also additional fresh setups.

 

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PHILLIPS 66 (PSX)

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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 is from the watchlist section of the weekly report. It is featuring the head and shoulder continuation chart pattern on Phillips 66 listed on the New York Stock Exchange.

PHILLIPS 66 (PSX)

Phillips 66 is an energy manufacturing and logistics company with midstream, chemicals, refining, and marketing and specialties businesses. The stock is listed on the New York Stock Exchange. Price chart formed a year-long head and shoulder continuation with the horizontal boundary acting as strong resistance at 93.90 levels. The horizontal boundary was tested several times over the course of the chart pattern. A daily close above 96.70 levels will confirm the breakout from the year-long head and shoulder continuation with the possible chart pattern price target of 121.00 levels. Friday’s price action was borderline breakout. I will monitor this name for another day of strength to confirm the breakout.

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

GLOBAL EQUITY MARKETS – May 7, 2022

/5 Comments/in /by

REVIEW

The benchmark for the Global equity markets performance, the iShares MSCI All Country World Index ETF (ACWI.O) remains below its 200-day average. To get bullish on Global Equities, I want to see the ETF clearing the 200-day average and settling above it. Until that happens I will view this as part of larger scale complex correction. The 200-day average is currently at 99.2 levels. Breakdown below the lows can result in a continuation of the downtrend. This week the ETF closed below the minor low at 91.7. Unless we see a sharp reversal with a long white daily candle that closes above 91.7, I will expect continuation of the downtrend. A sharp reversal can result in a rebound towards the 200-day average.

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GLOBAL EQUITY MARKETS – April 30, 2022

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REVIEW

The benchmark for the Global equity markets performance, the iShares MSCI All Country World Index ETF (ACWI.O) remains below its 200-day average. To get bullish on Global Equities, I want to see the ETF clearing the 200-day average and settling above it. Until that happens I will view this as part of larger scale complex correction. The 200-day average is currently at 99.7 levels. The ETF failed to form the right shoulder of a possible reversal which led the price to test the previous lows at 91.7 levels. Breakdown below the lows can result in a continuation of the downtrend. On the weekly scale chart, price is inside the channel and also clearly below the long-term average, exposing the ETF to further downside if the minor lows are broken down.

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