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.
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. 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. 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 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.
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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.
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.
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. 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).
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) 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.
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
Live questions from Members
The benchmark for the Global equity markets performance, the iShares MSCI All Country World Index ETF (ACWI.O) reached its initial price target 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.
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 an ascending triangle chart pattern opportunity, listed on the New York Stock Exchange. Stepan Company was featured before as part of Breakout Alerts when the stock completed the 28 month-long rectangle. However since then, price formed another sideways consolidation above the horizontal support (upper boundary of the rectangle). The chart pattern is possibly an ascending triangle (bullish continuation) that can resume the existing uptrend.
Below you can also find a short educational video explaining how several bullish chart patterns can form during a steady uptrend.
Stepan Company produces specialty and intermediate chemicals, which are sold to other manufacturers and used in a range of end products. The stock is listed on the New York Stock Exchange. Price chart formed a 4 month-long ascending triangle with the horizontal boundary acting as strong resistance at 100.5 levels. The horizontal boundary was tested several times over the course of the chart pattern. A daily close above 102.0 levels will confirm the breakout from the 4 month-long ascending triangle with the possible chart pattern price target of 110.0 levels. Breakout can push the stock to all-time highs.
A short educational video explaining formation of several bullish chart patterns in an uptrend
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.
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 up early in the week and is worth bringing to your attention. Below are 3 additions to Tech Charts watchlist that may experience breakouts. These charts will also be included in the weekly update.
