TRAVELERS COMPANIES INC (TRV)

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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 TRAVELERS COMPANIES INC (TRV) listed on the New York Stock Exchange.

TRAVELERS COMPANIES INC (TRV)

The Travelers Companies, Inc. is a holding company principally engaged, through its subsidiaries, in providing a range of commercial and personal property and casualty insurance products and services to businesses, government units, associations and individuals. The stock is listed on the New York Stock Exchange. Price chart formed a 5 month-long rectangle with the horizontal boundary acting as strong resistance at 162.00 levels. The horizontal boundary was tested several times over the course of the chart pattern. A daily close above 164.40 levels will confirm the breakout from the 5 month-long rectangle with the possible chart pattern price target of 177.60 levels.

 

 

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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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CRYPTOCURRENCIES – October 31, 2021

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I want to start this special cryptocurrency report with couple of important points. Chart pattern price targets (especially in cryptocurrency markets) should be used as guidelines only. Price can exceed or fall short of price objective. With upside price projections, I’m taking absolute price change. With downside price projections I’m taking % change (to avoid negative number price targets). Both methods will give us conservative price targets.

There has been several major breakouts in cryptocurrencies, especially in alt space. How can we monetize on those? How can we capture those breakouts. First and foremost, a disciplined approach and a routine review of each and every chart is required to be on top of market movements. If we look, we see. If we know what we are looking for we will see it clearly.

I.e. SHIBA INU/USD had a massive move. This move started from a tight and lengthy, well-defined consolidation range.

Another great example was MATICUSD. The breakout took place after the pair consolidated in a tight and well-defined range.

The following chart feature similar tight consolidations and breakout opportunities. Some opportunities are highlighted on daily scale price chart and some are larger scale patterns so weekly scale is utilized. I hope you find these findings valuable. Updates on those opportunities will be issued in following reports.

A quick note on how to trade those breakout opportunities. The daily scale price charts need a daily close above the chart pattern boundary. The weekly scale price charts need a weekly close above the pattern boundary for breakout confirmation. However, if you are thinking that by the time that confirmation candle forms it is usually too late to get on board, an intraday entry can be utilized. Though you need to be prepared for false breakouts in such cases.
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GLOBAL EQUITY MARKETS – October 30, 2021

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REVIEW

The benchmark for the Global equity markets performance, the iShares MSCI All Country World Index ETF (ACWI.O) is in an uptrend. So far the price action seems like it completed a reversion back to the mean. Strong support area remains between 98.5 and 99 levels. There is no reversal chart pattern on the daily scale price chart. Previous high is acting as resistance at 105.5 levels. If the previous high acts as resistance I will expect a consolidation range between 99 and 105.5 levels. Breakout above 105.5 levels will resume the existing uptrend.

 

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CRYPTOCURRENCIES – October 25, 2021

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All time highs acted as resistance, what is next for some of the major cryptocurrencies? Do we breakout to all-time highs and confirm or do we remain range bound for a little bit more?
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H&S CONTINUATION

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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 Darling Ingredients Inc. listed on the New York Stock Exchange.

DARLING INGREDIENTS INC (DAR) – new addition to watchlist

Darling Ingredients Inc. is a developer & producer of sustainable natural ingredients from edible and inedible bio-nutrients, creating ingredients and customized specialty solutions for customers in the food, pet food, feed, fuel, bioenergy, and fertilizer industries. The stock is listed on the New York Stock Exchange. Price chart formed a 7 month-long head and shoulder continuation with the horizontal boundary acting as strong resistance at 79.50 levels. The horizontal boundary was tested several times over the course of the chart pattern. A daily close above 81.80 levels will confirm the breakout from the 7 month-long head and shoulder continuation with the possible chart pattern price target of 95.00 levels.

A common discussion is on the validity of H&S acting as a continuation chart pattern. It is widely believed that H&S can only form as a reversal chart pattern. Edwards & Magee in their book Technical Analysis of Stock Trends, discussed the continuation type with the below chart example from 1930s. I’ve come across and featured several examples of H&S continuation in the past reports. In fact the statistics on H&S continuation is solid.

Below is the table showing chart pattern statistics for H&S continuation. These numbers cover the period of May 2017 till July 2021. H&S types with my favorite chart pattern rectangle are in the top 4 reliable chart patterns.

 

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 – October 23, 2021

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REVIEW

The benchmark for the Global equity markets performance, the iShares MSCI All Country World Index ETF (ACWI.O) is in an uptrend. So far the price action seems like it completed a reversion back to the mean. Strong support area remains between 98.2 and 99 levels. There is no reversal chart pattern on the daily scale price chart. Previous high is acting as resistance at 105.5 levels. If the previous high acts as resistance I will expect a consolidation range between 99 and 105.5 levels.

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INTERIM UPDATE (ASIA & EUROPE) – October 20, 2021

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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 is the latest addition to Tech Charts watchlist from mainly ASIA & EUROPE equities. These charts will also be included in the weekly update.

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GLOBAL EQUITY MARKETS – October 16, 2021

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REVIEW

The benchmark for the Global equity markets performance, the iShares MSCI All Country World Index ETF (ACWI.O) is in an uptrend. This price resumed uptrend after recovering back inside the trend channel. So far the price action seems like it completed a reversion back to the mean. Strong support area remains between 97.9 and 101.6 levels. There is no reversal chart pattern on the daily scale price chart.

 

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CRYPTOCURRENCIES – October 11, 2021

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Renewed strength for majority of the cryptocurrencies are helping prices reach all-time highs. In this report we are looking at Total Market Cap price chart, BTCUSD, ETHUSD and ETHBTC to understand the possible resistances ahead.
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GLOBAL EQUITY MARKETS – October 9, 2021

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REVIEW

The benchmark for the Global equity markets performance, the iShares MSCI All Country World Index ETF (ACWI.O) is in an uptrend. Failure to hold above the upper boundary resulted in a failed breakout and is now followed by a correction towards the lower boundary of the trend channel at 101 levels. This week the price recovered back inside the trend channel. So far the price action seems like a reversion back to the mean. Strong support area remains between 97.6 and 101 levels.

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