GLOBAL EQUITY MARKETS – July 10, 2021

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The benchmark for the Global equity markets performance, the iShares MSCI All Country World Index ETF (ACWI.O) resumed its uptrend with higher highs and higher lows and this can be seen in steady uptrends. Symmetrical triangle price target stands at 102.7 levels. Price remains above the long-term average, confirming the uptrend. During any sharp pullback, the 200-day average at 93.3 and the previous minor low at 96.5 can form an area of support. Price is now very close to the symmetrical triangle chart pattern price target. Intra-week sell-off was quickly reversed by the end of the week. Positive outlook is intact.

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GLOBAL EQUITY MARKETS – July 3, 2021

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The benchmark for the Global equity markets performance, the iShares MSCI All Country World Index ETF (ACWI.O) resumed its uptrend with higher highs and higher lows and this can be seen in steady uptrends. Symmetrical triangle price target stands at 102.7 levels. Price remains above the long-term average, confirming the uptrend. During any sharp pullback, the 200-day average at 92.6 and the previous minor low at 96.5 can form an area of support. Price is now very close to the symmetrical triangle chart pattern price target.

 

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HIGH CONVICTION SETUPS

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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. 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 Country Garden Services Holdings Company Limited listed on the Hong Kong Stock Exchange.

A high conviction setup for me needs to tick the boxes below. I look for few qualities with the perfect setups. These are:

A well defined chart pattern with horizontal boundaries

Preferably a rectangle chart pattern in duration 2 months – 24 months

A bullish setup (or breakout) taking place above the long-term (200 day) average

Preferably a breakout to all-time highs (path of least resistance)

The chart below is a candidate for a high conviction setup.

COUNTRY GARDEN SERVICES HOLDINGS CO LTD (6098.HK)

Country Garden Services Holdings Company Limited is a China-based provider of residential property management services. The Company mainly provides property management services, community value-added services and non-owner value-added services. The stock is listed on the Hong Kong Stock Exchange. Price chart formed a 3 month-long rectangle with the horizontal boundary acting as strong resistance at 83.00 levels. The horizontal boundary was tested several times over the course of the chart pattern. A daily close above 85.50 levels will confirm the breakout from the 3 month-long rectangle with the possible chart pattern price target of 93.80 levels.

 

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GLOBAL EQUITY MARKETS – June 26, 2021

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The benchmark for the Global equity markets performance, the iShares MSCI All Country World Index ETF (ACWI.O) resumed its uptrend with higher highs and higher lows and this can be seen in steady uptrends. Symmetrical triangle price target stands at 102.7 levels. Price remains above the long-term average, confirming the uptrend. During any sharp pullback, the 200-day average at 92.6 and the previous minor low at 96.5 can form an area of support.

 

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INTERIM UPDATE (AMERICAS) – June 25, 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 AMERICAS equities. One of them is an ETF that has a larger influence on a theme, possible strength in small cap growth stocks. The other is a stand alone breakout opportunity that might be too late to report in the weekly update if a breakout materializes. These charts will also be included in the weekly update.

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GLOBAL EQUITY MARKETS – June 19, 2021

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The benchmark for the Global equity markets performance, the iShares MSCI All Country World Index ETF (ACWI.O) experienced a setback without reaching the symmetrical triangle price target. The ETF continued to form higher highs and higher lows and this can be seen in steady uptrends. Symmetrical triangle price target stands at 102.7 levels. Price remains above the long-term average, confirming the uptrend. During any sharp pullback, the 200-day average at 92.1 and the previous minor low at 96.5 can form an area of support.

 

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GLOBAL EQUITY MARKETS – June 12, 2021

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The benchmark for the Global equity markets performance, the iShares MSCI All Country World Index ETF (ACWI.O) is resuming its uptrend after possibly completing a pullback to the symmetrical triangle. The upper boundary of a possible symmetrical triangle was breached at 95.9 levels. Symmetrical triangle price target stands at 102.7 levels. Price remains above the long-term average, confirming the uptrend.

 

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INTERIM UPDATE (AMERICAS) – June 9, 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 AMERICAS equities. These charts will also be included in the weekly update.

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GLOBAL EQUITY MARKETS – June 5, 2021

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The benchmark for the Global equity markets performance, the iShares MSCI All Country World Index ETF (ACWI.O) is resuming its uptrend after possibly completing a pullback to the symmetrical triangle. The upper boundary of a possible symmetrical triangle was breached at 95.9 levels. Symmetrical triangle price target stands at 102.7 levels. Price remains above the long-term average, confirming the uptrend.

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INTERIM UPDATE (AMERICAS & EUROPE) – June 4, 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 AMERICAS & EUROPE equities. These charts will also be included in the weekly update.

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