SYMMETRICAL TRIANGLE – DIAGONAL CHART PATTERN

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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 breakout section a symmetrical triangle. Breakout signal was confirmed few weeks back and since then the stock has possibly completed a pullback. This chart is a good example to discuss the dynamics of breakouts from diagonal chart patterns. Below you will also find a short educational video on how breakouts can develop after completing symmetrical triangle chart patterns.

LABORATORY CORPORATION OF AMERICA HOLDINGS (LH)

Laboratory Corporation of America Holdings is a life sciences company that is integrated in guiding patient care, providing clinical laboratory and end-to-end drug development services. The Company operates as a healthcare diagnostics company. The stock is listed on the New York Stock Exchange. Price chart formed a 5 month-long symmetrical triangle with the upper boundary acting as strong resistance at 174.00 levels. Both boundaries were tested several times over the course of the chart pattern. The daily close above 179.00 levels confirmed the breakout from the 5 month-long symmetrical triangle with the possible chart pattern price target of 194.00 levels. The chart below is an update with the latest data from 03/02/2020.

A SHORT EDUCATIONAL VIDEO ON SYMMETRICAL TRIANGLES

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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 – February 1, 2020

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The benchmark for the Global equity markets performance, the iShares MSCI All Country World Index ETF (ACWI.O) resumed lower towards strong support area between 75.5 and 77.5. The weekly chart opened with a gap. The gap was filled during the week. The week closed very close to its lowest level. ACWI ETF is still in a steady uptrend. During the recent pullback, the high of 2018 (77.5) can act as support. The 200-day moving average is still far from the price at 75.5 levels.

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DESCENDING TRIANGLE – SHORT SETUP

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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 a bearish descending triangle that is completing on the downside. Descending triangle is a bearish chart pattern with a downward sloping upper boundary. Trading in the first two days of the week confirmed the breakdown from the 14 month-long bearish continuation chart pattern.

ANA HOLDINGS INC (9202.T)

ANA HOLDINGS INC. is a Japan-based holding company principally engaged in the aviation business. The stock is listed on the Tokyo Stock Exchange. Price chart formed a 14 month-long descending triangle with the horizontal boundary acting as strong support at 3,525.0 levels. The horizontal boundary was tested several times over the course of the chart pattern. The daily close below 3,455.0 levels confirmed the breakdown from the 14 month-long descending triangle with the possible chart pattern price target of 3,025.0 levels. Data as of 28/01/2020. Please note that the last bar on the weekly scale price chart includes two days of trading.

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 – January 25, 2020

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REVIEW

The benchmark for the Global equity markets performance, the iShares MSCI All Country World Index ETF (ACWI.O) experienced the first setback. The weekly price chart formed an inside week. ACWI ETF is in a steady uptrend. During any pullback, the high of 2018 (77.5) can act as support. The 200-day moving average is still far from the price at 75.4 levels.

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RECTANGLE CHART PATTERN BREAKOUTS

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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 breakouts section some of the text-book rectangle chart pattern breakouts. Rectangle is one of my favorite classical chart pattern. It has well-defined boundaries. It is easier to identify on price charts. Usually before the breakout takes place price has several tests of the chart pattern boundary. Breakouts after several tests of pattern boundary are usually powerful and are followed by strong trends.

A quick note for our new followers; the red lines on price charts are not provided as stop-loss levels. While they can be used as stop-loss, they are actually a subjective level for chart pattern negation. Chart pattern negation is different than a stop-loss. A stop-loss can be placed below the chart pattern boundary tighter or wider depending on your risk profile and other factors. I attached below a chart that explains each labeling on price charts.

TE CONNECTIVITY LTD (TEL)

TE Connectivity Ltd. is a technology company. The Company designs and manufactures connectivity and sensors solutions. The stock is listed on the New York Stock Exchange. Price chart formed a 8 month-long ascending triangle with the horizontal boundary acting as strong resistance at 97.0 levels. The horizontal boundary was tested several times over the course of the chart pattern. The daily close above 100.0 levels confirmed the breakout from the 8 month-long ascending triangle with the possible chart pattern price target of 110.0 levels.

INTERCONTINENTAL EXCHANGE INC (ICE)

Intercontinental Exchange, Inc. is an operator of regulated exchanges, clearing houses and listings venues. The Company provides data services for commodity and financial markets. 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 95.50 levels. The horizontal boundary was tested several times over the course of the chart pattern. The daily close above 96.50 levels confirmed the breakout from the 4 month-long rectangle with the possible chart pattern price target of 101.70 levels.

BAE SYSTEMS PLC (BAES.L)

BAE Systems plc is a defense, aerospace and security company. The stock is listed on the London Stock Exchange. Price chart formed a 5 month-long rectangle with the horizontal boundary acting as strong resistance at 588.0 levels. The horizontal boundary was tested several times over the course of the chart pattern. The daily close above 600.0 levels confirmed the breakout from the 5 month-long rectangle with the possible chart pattern price target of 645.0 levels.

What each labeling on price charts stand for:

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 – January 18, 2020

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REVIEW

The benchmark for the Global equity markets performance, the iShares MSCI All Country World Index ETF (ACWI.O) continues to remain strong after completing both rectangle and H&S continuation chart patterns. ACWI ETF is in a steady uptrend. During any pullback, the high of 2018 (77.5) can act as support. It is usually difficult to pick tops and bottoms. The best way to approach strong trending markets is to trail it with trend following indicators such as ATR based trailing stops or different period moving averages. Selection of moving average period will depend on your time frame. Short-term moving averages will trail the price closely, resulting in an early exit signal.

 

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INTERIM UPDATE – January 16, 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 2 additions to Tech Charts watchlist that may experience breakouts. These charts will also be included in the weekly update.

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TE CONNECTIVITY LTD (TEL)

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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 a rectangle chart pattern opportunity, listed on the New York Stock Exchange.

Both the weekly and daily scale price charts are featured below.

TE CONNECTIVITY LTD (TEL)

TE Connectivity Ltd. is a technology company. The Company designs and manufactures connectivity and sensors solutions. The stock is listed on the New York Stock Exchange. Price chart formed an 8 month-long rectangle with the horizontal boundary acting as strong resistance at 97.0 levels. The horizontal boundary was tested several times over the course of the chart pattern. A daily close above 100.0 levels will confirm the breakout from the 8 month-long rectangle with the possible chart pattern price target of 110.0 levels. (Data as of 13/01/2020) Last candlestick of the weekly scale price chart includes only one trading session (Monday).

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 – January 11, 2020

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REVIEW

The benchmark for the Global equity markets performance, the iShares MSCI All Country World Index ETF (ACWI.O) continues to remain strong after completing both rectangle and H&S continuation chart patterns. The right shoulder of a possible H&S continuation was identified as a rectangle with the price target of 79.6 levels. So far the price remained stable after reaching price objective. ACWI ETF is in a steady uptrend. During any pullback, the high of 2018 (77.5) can act as support.

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Short-Term Chart Patterns Tech Charts Webinar

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Please enjoy this Tech Charts Member webinar recorded live December 12, 2019

Short-Term Chart Patterns – December 2019 Tech Charts Webinar

This webinar is a discussion on chart patterns that develop and complete on a short-term time frame, in the duration between 1 month to 3 months.

Webinar Outline

  • We will review some of those chart pattern breakouts that were featured in the Global Equity Markets report
  • We will review some of the conditions that are required for successful completion of different chart patterns both on daily and weekly time frame
  • We will look at some of the developing chart patterns
  • We will have a member Q&A at the end of the webinar

Live questions from Members  

  1. Do you use MA or EMA? 50:33
  2. I wanted to check if it is possible for you to include in your weekly report a performance of setup of your charts? 51:02 (Webinar mentioned A review of the most reliable chart patterns Tech Charts Global Equity Markets report featured over the past two years – September 2019 Tech Charts Webinar)
  3. Can the ascending or descending triangle be trend reversal patterns? 51:37
  4. Can you discuss success rates for weekly setups vs. daily? 52:37
  5. If the handle is a bit above the cup is the breakout level above the cup or above the handle? 53:48
  6. When you post a breakout alert on the website, is the red number dotted line a negation level or your initial stop loss? 54:17
  7. What’s the ATR setting you use and do you check and adjust stops on a daily basis? 54:45 (Helpful link ATR Trailing Stop-Loss – H&S Top)

 
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