CONTINUATION CHART PATTERN – CUP & HANDLE

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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 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 (MGM.N) – new addition to watchlist

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.

An educational video on How cup & handle continuation can form, breakout and resume uptrend…

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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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GLOBAL EQUITY MARKETS – October 24, 2020

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REVIEW

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.

 

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INTERIM UPDATE – October 23, 2020

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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 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.

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GLOBAL EQUITY MARKETS – October 17, 2020

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REVIEW

The benchmark for the Global equity markets performance, the iShares MSCI All Country World Index ETF (ACWI.O) broke out of a consolidation that acted as a bullish flag. The ETF resumed higher to test the resistance at 84.15 levels. 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 76.3 levels. Global equities are searching for direction in the short-term.

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TRADERS SUMMIT – RECORDED WEBINAR

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Dear Tech Charts followers,

Traders Summit featured several investors/analysts between 25th and 27th September. I had the chance to present some great charts and opportunities I’m seeing in Global Financial Markets. The presentation started with an educational piece where I outlined my thinking/analysis process and what I view as key points in classical charting. This was followed by a review of major chart patterns on some of the long-term FX charts. You can find the recorded webinar below. I hope you will enjoy it.

Regards,

Aksel Kibar, CMT

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

RECTANGLE – INDEPENDENCE REALTY TRUST INC

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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 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 Independence Realty Trust, Inc. listed on the New York Stock Exchange.

INDEPENDENCE REALTY TRUST INC (IRT.N)

Independence Realty Trust, Inc. is an internally-managed real estate investment trust (REIT). The Company is engaged in the business of owning, managing, operating, leasing, acquiring, developing, investing in, and disposing of real estate assets. The stock is listed on the New York Stock Exchange. Price chart formed a 4 month-long rectangle with the horizontal boundary acting as strong resistance at 12.30 levels. The horizontal boundary was tested several times over the course of the chart pattern. A daily close above 12.65 levels will confirm the breakout from the 4 month-long rectangle with the possible chart pattern price target of 14.0 levels.

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 10, 2020

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REVIEW

The benchmark for the Global equity markets performance, the iShares MSCI All Country World Index ETF (ACWI.O) broke out f a consolidation that could possibly be a bullish flag. The ETF closed the week above 82 levels and slightly below the all-time high at 84 levels. 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 levels.

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INTERIM UPDATE – October 9, 2020

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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 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.

Read more

CHINA SSE COMPOSITE INDEX

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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 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 China SSE Composite Index.

CHINA SSE COMPOSITE INDEX (.SSEC)

The chart below shows the China SSE Composite Index (larger universe for China equities). Following the strong rally during June-July period the index entered into a sideways consolidation. The Chinese benchmark is now at an important inflection point. If the support at 3,190 levels holds, given the price testing the uptrend line and holding above the 200-day average, we can expect a rebound and strong quarter for Chinese equities. Last 3 month’s price action can form a well-defined rectangle chart pattern. After a long holiday, China equities start trading on the 9th of October.

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

H&S Bottom Reversal with a Hard Re-Test

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