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IMMOFINANZ AG (IMFI.VI)

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 IMMOFINANZ AG, listed on the Vienna Stock Exchange.

IMMOFINANZ AG (IMFI.VI)

Immofinanz AG is an Austria-based real estate company that invests in commercial properties. The Company’s core activities are the management and development of retail and office properties in selected Central and Eastern European countries. The stock is listed on the Vienna Stock Exchange. Price chart formed an 18 month-long ascending triangle with the horizontal boundary acting as strong resistance at 23.0 levels. The horizontal boundary was tested several times over the course of the chart pattern. A daily close above 23.7 levels will confirm the breakout from the 18 month-long ascending triangle with the possible chart pattern price target of 27.5 levels.


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GLOBAL EQUITY MARKETS – April 20, 2019

REVIEW


The benchmark for the Global equity markets performance, the iShares MSCI All Country World Index ETF (ACWI.O), is now very close to a horizontal resistance at 74.8 levels. Given the magnitude of the strong rebound and the steady rise without any pullback, one can't rule out the possibility of a breather/pause around the resistance at 74.8 levels. If we see a pullback, the 200-day moving average which is currently at 70.6 levels can act as support.

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