The benchmark for the Global equity markets performance, the iShares MSCI All Country World Index ETF (ACWI.O) continues to remain below the 200-day average and exposed for further weakness. Previous rebound got rejected at the 200-day average. 99-100.4 area is the new resistance. The ETF started forming lower lows and lower highs. If rebounds can’t push prices above the 99-100.4 area, downtrend can accelerate.
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 text-book rectangle on Deere & Company listed on NYSE.
Deere & Company is engaged in equipment operations. The Company is engaged in providing financial services. The Company operates through three business segments: agriculture and turf, construction and forestry, and financial services. The stock is listed on the New York Stock Exchange. Price chart formed a 9 month-long rectangle with the horizontal boundary acting as strong resistance at 395.60 levels. The horizontal boundary was tested several times over the course of the chart pattern. A daily close above 407.50 levels will confirm the breakout from the 9 month-long rectangle with the possible chart pattern price target of 471.00 levels.
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.
You will receive:
For your convenience your membership auto renews each year.
The benchmark for the Global equity markets performance, the iShares MSCI All Country World Index ETF (ACWI.O) continues to remain below the 200-day average and exposed for further weakness. Previous rebound got rejected at the 200-day average. 99-100.7 area is the new resistance. The ETF started forming lower lows and lower highs. If rebounds can’t push prices above the 99-100.7 area, downtrend can accelerate.
The benchmark for the Global equity markets performance, the iShares MSCI All Country World Index ETF (ACWI.O) experienced another sell-off below the 200-day average. Previous rebound got rejected at the 200-day average. 99-101 area is the new resistance. The ETF started forming lower lows and lower highs. If rebounds can’t push prices above the 99-101 area, downtrend can accelerate. On the long-term chart price is trying to hold above the upper boundary of the rising trend channel. Failure to do so can result in a sell-off towards the next support around 82 levels.
In this report I’m adding more range-trading opportunities. There are several pairs that are testing strong support areas. Those can experience rebounds. Charts are mostly on weekly scale.
The benchmark for the Global equity markets performance, the iShares MSCI All Country World Index ETF (ACWI.O) is looking for direction around the 200-day average. Latest rebound got rejected at the 200-day average. 99-101.2 area is the new resistance. Unless we see a quick recovery above this resistance area, I will expect lower prices in the coming weeks.
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 text-book H&S continuation on Tata Motors listed on National Stock Exchange of India as well as the ADR that is listed on NYSE. Both charts have similar setups.
Tata Motors Limited is an automobile company. The Company is engaged in manufacture of motor vehicles. The Company’s segments include automotive operations and all other operations. The stock is listed on the National Stock Exchange. Price chart formed a 3 month-long head and shoulder continuation with the horizontal boundary acting as strong resistance at 531.00 levels. The horizontal boundary was tested several times over the course of the chart pattern. A daily close above 547.00 levels will confirm the breakout from the 3 month-long consolidation with the possible chart pattern price target of 621.00 levels. Below I added the ADR price chart that is listed on the NYSE.
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.
You will receive:
For your convenience your membership auto renews each year.
The benchmark for the Global equity markets performance, the iShares MSCI All Country World Index ETF (ACWI.O) is looking for direction around the 200-day average. The ETF recovered above 99 levels but still hasn’t settled above the 200-day average. Latest price action changed my positive view on this ETF. 99-101.2 is the new resistance. Unless we see a quick recovery above this resistance area, I will expect lower prices in the coming weeks.
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 during the week and is worth bringing to your attention before the week finalizes. Below are the latest additions to Tech Charts watchlist. This charts will also be included in the weekly update.
In this report I’m adding more range-trading opportunities. There are several pairs that are testing strong support areas. Those can experience rebounds. Charts are mostly on weekly scale.
