The benchmark for the Global equity markets performance, the iShares MSCI All Country World Index ETF (ACWI.O) held on to its gains after completing a possible rectangle chart pattern. Breakout took place above 84.15, the upper boundary of the rectangle which is now a short-term support. Possible chart pattern price target stands at 91 levels. During any pullback 84.15 will act as support.
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 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 Marathon Gold Corp (Marathon) listed on the Toronto Stock Exchange.
With breakouts I like to confirm couple of things on price charts. When those conditions are met, I have higher conviction on the trade setup. Those are:
Below chart is meeting all the above criteria and as a result it is a high conviction trade setup for me.
Marathon Gold Corp (Marathon) is a Canada-based company engaged in the acquisition, exploration and development of natural resource properties located in North America. The stock is listed on the Toronto Stock Exchange. Price chart formed a 3 month-long rectangle with the horizontal boundary acting as strong resistance at 2.60 levels. The horizontal boundary was tested several times over the course of the chart pattern. A daily close above 2.67 levels will confirm the breakout from the 3 month-long rectangle with the possible chart pattern price target of 3.13 levels.
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The benchmark for the Global equity markets performance, the iShares MSCI All Country World Index ETF (ACWI.O) completed the short-term consolidation, possibly a bullish rectangle, on the upside . Breakout took place with a gap opening. Following the breakout the price pulled back to the support at 84.15 levels and rebounded. Price objective for the rectangle stands at 91 levels. During any pullback 84.15 will act as support.
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 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 the iShares S&P MID CAP 400 VALUE ETF (IJJ) listed on the New York Stock Exchange.
The Fund seeks investment results that correspond generally to the price and yield performance, before fees and expenses, of the S&P MidCap 400/BARRA Value Index. The Index consists of stocks from a broad range of industries. Uses a replication strategy to track the Index. The ETF 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 74.40 levels. The horizontal boundary was tested several times over the course of the chart pattern. A daily close above 76.60 levels will confirm the breakout from the 5 month-long rectangle with the possible chart pattern price target of 85.0 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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The benchmark for the Global equity markets performance, the iShares MSCI All Country World Index ETF (ACWI.O) rebounded from strong support area formed by the minor low and the 200-day average. The ETF is now testing previous highs at 84.15 levels that is acting as resistance. I’m weighing the possibility of the last 2 month’s consolidation acting as a bullish continuation chart pattern. While a breakout might not take place immediately, a breach and a daily close above 84.15 will suggest higher levels, possibly a chart pattern price objective at 91 levels. Until a breakout takes place, the ETF can remain range-bound between 77 and 84.15 levels.
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 latest additions to Tech Charts watchlist in case they experience breakouts in the last day of the week. These charts will also be included in the weekly update.
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 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 review section the iShares MSCI All Country World Index ETF (ACWI.O) listed on the Nasdaq Stock Exchange.
As we are getting closer to the U.S. elections, this chart is on my radar as it offers two possibilities from a classical charting perspective. A bearish outcome with the completion of a double top or a bullish outcome with the rebound from support area to resume the existing uptrend. We are at inflection point.
The benchmark for the Global equity markets performance, the iShares MSCI All Country World Index ETF (ACWI.O) resumed its correction after finding resistance at 84.15 levels, the minor high. The uptrend on Global equities is intact and ACWI ETF continues to trend higher above its 200-day average which is acting as support at 76.7 levels. Global equities are searching for direction in the short-term. Price is at an important inflection point. Last 2 month’s consolidation between 84.15 and 76.7 levels can act as
1) Double top, break down the support at 76.7 levels and resume correction towards 70 levels, 2) Rectangle continuation, rebound from current levels and resume uptrend towards 84.15 levels. It is important to note that Friday’s price action formed a bullish hammer around support levels and could signal reversal from support if we see follow through in the following days.
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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.
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) resumed its correction after finding resistance at 84.15 levels, the minor high. The uptrend on Global equities is intact and ACWI ETF continues to trend higher above its 200-day average which is acting as support at 76.7 levels. Global equities are searching for direction in the short-term. Price is at an important inflection point. Last 2 month’s consolidation between 84.15 and 76.7 levels can act as Read more
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 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 MGM Resorts International, Inc. listed on the New York Stock Exchange.
MGM Resorts International is a holding company. The Company, through its subsidiaries, owns and operates casino resorts. The Company operates in two segments: domestic resorts and MGM China. The stock is listed on the New York Stock Exchange. Price chart formed a 5 month-long cup & handle continuation with the horizontal boundary acting as strong resistance at 24.00 levels. The horizontal boundary was tested several times over the course of the chart pattern. A daily close above 25.00 levels will confirm the breakout from the 5 month-long cup & handle continuation with the possible chart pattern price target of 32.50 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) found support at 82 levels, Jan-Feb 2020 highs. The uptrend on Global equities is intact and ACWI ETF continues to trend higher above its 200-day average which is acting as support at 76.6 levels. Global equities are searching for direction in the short-term. There is a possibility of a cup & handle continuation chart pattern forming on the ETF with the handle part being in progress. 84.15 continues to act as resistance.
