ERSTE GROUP BANK AG (ERST.VI)

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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 a 14 month-long Head and Shoulder top reversal on the Eastern European financial services company ERSTE GROUP, featured under the watchlist. In the second part of the blog post I discuss what I regard as text book H&S top chart pattern and their qualities.

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GLOBAL EQUITY MARKETS – November 24, 2018

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The longer the price remains below the long-term averages the more established that downtrend will become. The benchmark for the Global Equity Markets performance, iShares MSCI All Country World Index ETF (ACWI.O) broke down the lower boundary of its multi-month long consolidation and its long-term average around same time. Sharp sell-off was followed by a pullback to the chart pattern boundary. This week’s price action resumed the downtrend. The minor low around October lows (66) will act as short-term support. Breakdown below the October lows can send the ACWI ETF towards the next support level at 63 levels. Strong resistance area remains between 71 and 71.5 levels. Until we see a recovery above the resistance area (71-71.5), we will expect the weakness to resume in the Global Equity Markets.

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CHINA SSE 50 INDEX & FTSE A 50 ETF

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Low volatility period begets high volatility and vice versa. Price charts when going through those low volatility periods form one of the classical chart pattern (symmetrical triangle, rectangle, flag/pennant, H&S continuation, right angle triangle) and alert us for a possible breakout. Breakouts from lengthy and low volatility consolidation periods are usually followed by strong breakouts and directional movements. We would like to capture those strong directional movements.

One of the best example for the cyclicality of volatility is the China SSE 50 Index. Strong directional move that took place in the first half of 2018 is now being followed by a tight consolidation (low volatility period) which is likely to be followed by sharp price action in the following weeks/months. Past 5 month’s price action formed a channel in a tight range. Breakout from the 5 month-long channel can either reverse the downtrend that has been intact since the beginning of the year, or resume the downtrend. In either case we are likely to see a strong directional movement. Resistance stands at 2,565 levels.

For those who would like to take advantage of a possible breakout/breakdown on China SSE 50 Index, I feature below the iShares FTSE A50 China Index ETF that is listed on the Hong Kong Stock Exchange.

ISHARES FTSE A50 CHINA INDEX ETF HKD (2823.HK)

The Ishares FTSE A50 China Index ETF aims to provide investment results that, before fees and expenses, closely correspond to the performance of the FTSE China A50 Index.The ETF is listed on the Hong Kong Stock Exchange. Price chart formed a 4 month-long descending triangle with the horizontal boundary acting as strong support at 11.9 levels. The horizontal boundary was tested several times over the course of the chart pattern. A daily close below 11.7 levels will confirm the breakdown from the 4 month-long descending triangle with the possible chart pattern price target of 10.6 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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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 – November 17, 2018

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The benchmark for the Global Equity Markets performance, iShares MSCI All Country World Index ETF (ACWI.O) is trading below its long-term (200-day) average. Last one month’s price action formed choppy and sideways consolidation. Earlier the ACWI ETF broke down its multi-month-long consolidation and ended a low volatility period. Volatility is cyclical. Low volatility begets high volatility and vice versa. Currently the ETF is consolidating its earlier sharp price decline from 75 to 66 levels. Strong resistance area is between 71 and 71.6 levels. Long-term support stands at 63 levels.

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Rectangle – Bearish Reversal

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GLOBAL EQUITY MARKETS – November 10, 2018

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The iShares MSCI All Country World Index ETF (ACWI.O) found resistance at the long-term 200-day (40-week) moving average. Last two week’s price action can be a pullback to the broken support levels between 71 and 71.8. Until I see a recovery above the 200-day average, I will expect the choppy downward price action to resume. Global equities are likely to move in a wide trading range in the following weeks. Strong resistance area stands between 71 and 71.8 levels.

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SUPPORT & RESISTANCE

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A stock (ETF, Index etc.) price is either in a trending phase or in a consolidation period. During strong trend periods prices move uninterrupted from one price level to another. During consolidations prices move in both directions without producing any meaningful or sustained price change and will form well-defined support and resistance areas on the charts. A support range represents a concentration of demand, and a resistance range represents a concentration of supply.

A resistance level is an approximate level or fairly well-defined price range, where previously advancing stock meets resistance in the form of strong selling. A support level is an approximate level or price range where a preceding decline meets support, in the form of strong buying. A possible explanation for appearance of such well-defined price boundaries in the form of support and resistance can be the fact that the public tend to remember previous levels the stock has traded.

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GLOBAL EQUITY MARKETS – November 3, 2018

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REVIEW

Strong rebound on the iShares MSCI All Country World Index ETF pulled the price back to February lows. Strong resistance area stands between 70 and 71.8 levels. After a sharp drop and increase in volatility, we should expect more choppy price action resulting in a short-term consolidation. There is no chart pattern development that would suggest a short-term bottom at this stage. The ACWI ETF is trading below its long-term average.

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GLOBAL X URANIUM ETF (URA)

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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 a multi year-long Head and Shoulder continuation and a 10 month-long descending triangle on GLOBAL X URANIUM ETF (URA).

GLOBAL X URANIUM ETF (URA)

The Fund seeks to provide investment results that correspond generally to the price and yield performance, before fees and expenses, of the Solactive Global Uranium Index. The Fund is designed to measure broad based equity market performance of global companies involved in the uranium industry. Price chart formed a 3 year-long H&S continuation with the right shoulder possibly in the form of a 10 month-long descending triangle. Both chart patters are bearish and once completed on the downside, suggest lower levels. Possible chart pattern price target for the 10 month-long descending triangle stands at 8.71 levels and the price target for the 3 year-long H&S continuation at 7.8 levels. A daily close below 11.55 levels will confirm the breakdown.

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 27, 2018

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REVIEW

The benchmark for Global equity markets performance, iShares MSCI All Country World Index ETF (ACWI.O) broke down its February lows with a long weekly candle. The ACWI ETF is now clearly below its long-term 200-day moving average. February low at 69.7 levels will become the new strong resistance. Next support area for the ACWI ETF is between 63 and 65. In the short-term the daily chart needs to form some sort of a reversal chart pattern to conclude that the downtrend is over. The iShares MSCI All Country World Index ETF (ACWI.O) is in a downtrend.

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