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IPG WCA - Inverted Head and ShouldersCompany: Interpublic Group of Companies Inc. Ticker: IPG Exchange: NYSE Sector: Communication Services Introduction: In today's technical analysis, we focus on Interpublic Group of Companies Inc. (IPG), a prominent player in the Communication Services sector, listed on the NYSE. The weekly chart is currently illustrating an interesting Inverted Head and Shoulders pattern, a traditional bottom reversal formation. Since we have analyzed the XLC and a bullish environment favors this sector, we have selected this stock for closer examination. Inverted Head and Shoulders Pattern: The Inverted Head and Shoulders pattern, usually observed after a significant downward movement, signals a potential bullish reversal. This pattern is characterized by three troughs, with the middle one being the deepest (the "head") and the two others (the "shoulders") being shorter and roughly equal in depth. Analysis: Previously, IPG's chart was showing a clear downtrend. However, we've spotted a promising Inverted Head and Shoulders pattern that has been developing over 651 days. The symmetry between the left and right shoulders is intact, and the price now appears to be consolidating above the horizontal neckline at $39.28. The price's position above the 200 EMA demonstrates a bullish market environment, suggesting that long setups could be more advantageous at this time. If a breakout above the neckline is confirmed, it could represent a good entry point for a long position. The potential price target is set at $53.73, indicating an upside of approximately 37% from the level of the neckline. Conclusion: IPG's weekly chart reveals an intriguing setup in the form of an Inverted Head and Shoulders pattern, suggesting a possible bullish reversal. However, this is a watchlist candidate and not a direct trading recommendation. As always, this analysis should be used as part of your comprehensive market research and risk management strategy. Please remember, this is not financial advice and investing always involves risk. If you found this analysis helpful, please consider liking, sharing, and following for more insights. Wishing you profitable trading! Best regards, Karim Subhieh
NYSE:IPG
by KarimSubhieh
LOW WCA - Ascending TriangleCompany: Lowe's Companies, Inc. Ticker: LOW Exchange: New York Stock Exchange (NYSE) Sector: Consumer Discretionary Introduction: In today's technical analysis, we're focusing on Lowe's Companies, Inc. (LOW), a prominent player in the Consumer Discretionary sector listed on the New York Stock Exchange. Lowe's weekly chart is currently showcasing an Ascending Triangle pattern, indicative of a potential bullish reversal. Ascending Triangle Pattern: An Ascending Triangle pattern typically emerges during periods of consolidation and is often considered a bullish indicator. The pattern is characterized by a flat upper trendline (resistance) and an ascending lower trendline (support), both of which converge as the pattern matures. Analysis: Previously, Lowe's was in a noticeable downtrend, as indicated by the blue diagonal resistance line. However, over the last 420 days, Lowe's stock price has consolidated, forming an Ascending Triangle pattern. This pattern is considered to act as a bullish reversal indicator. The Ascending Triangle's upper horizontal boundary lies at $221, boasting three touchpoints, while the upward sloping lower boundary also shows three touchpoints. The symmetry of these touchpoints lends credibility to the Ascending Triangle pattern. Should we observe a breakout above the Ascending Triangle, we can anticipate a potential price target of $270. This implies a potential opportunity for a 22% price increase from the breakout level. Conclusion: This analysis suggests that Lowe's Companies, Inc. may be primed for a bullish reversal, representing potential investment opportunities. As always, it's essential to validate this technical analysis with other indicators, market trends, and relevant news for comprehensive investment decisions. Not financial advice. If you found this analysis helpful, please consider liking, sharing, and following for more insights. Wishing you profitable trading! Best regards, Karim Subhieh
NYSE:LOW
by KarimSubhieh
NetApp WCA - Symmetrical Triangle Company: NetApp Inc. Ticker: NTAP Exchange: NASDAQ Sector: Technology Introduction: Welcome to today's technical analysis. Our focus is on NetApp Inc. (NTAP), a major player in the Technology sector, listed on the NASDAQ. The weekly chart is currently exhibiting a Symmetrical Triangle pattern, suggesting a possible bottom reversal. Symmetrical Triangle Pattern: A Symmetrical Triangle pattern, typically seen during periods of consolidation, can signal a potential reversal or continuation of the current trend. It's characterized by a series of lower highs and higher lows, implying that the market is indecisive. Analysis: Previously, NetApp was in a clear downward trend. However, we've noticed a symmetrical triangle pattern in the consolidation phase, which seems to act as a bottom reversal. This triangle has three touch points on both the lower and upper diagonal boundaries. In a bullish turn of events, the price has broken above the 200 EMA with a weekly candle, which reinforces the significance of the breakout. Consequently, this setup might present an immediate long entry opportunity. The price target, should the breakout hold, is set at $90, indicating a potential upside of approximately 34% from the level of the breakout. Conclusion: NetApp's weekly chart reveals an intriguing setup in the form of a symmetrical triangle breakout, suggesting a potential bottom reversal. This setup could present a profitable long trading opportunity. As always, this analysis should be used as a part of your overall market research and risk management strategy, and not as direct trading advice. If you found this analysis valuable, please consider liking, sharing, and following for more updates. Wishing you profitable trading! Best regards, Karim Subhieh
NASDAQ:NTAPLong
by KarimSubhieh
ADBE WCA - Ascending TriangleCompany: Adobe Inc. Ticker: ADBE Exchange: NASDAQ Sector: Technology Introduction: Thank you for joining me for today's technical analysis. We will be examining Adobe Inc. (ADBE), a leading company in the Technology sector, listed on the NASDAQ. Our focus is on an Ascending Triangle pattern that has been developing on the weekly chart. Ascending Triangle Pattern: An Ascending Triangle pattern is often indicating a potential reversal or continuation of the trend. This pattern is formed when the price oscillates between a flat resistance line and an upward sloping support line. Analysis: In the case of Adobe, the previous trend was downward, as indicated by a blue diagonal resistance line. However, we are now witnessing the formation of an Ascending Triangle pattern, indicating a possible bottom reversal. The horizontal resistance of the triangle is set at $397.36, with four touchpoints recorded. Meanwhile, the rising support line, which originates at $275.20, has also been touched four times. Notably, the current weekly candle (the third touch point) is making an attempt to break through the horizontal resistance line. The 200 EMA closely aligns with the horizontal resistance, further underlining the significance of this level. A breakout – defined as a weekly candle closing above the horizontal resistance line – could present an excellent entry point for a long position. If a breakout does occur, the price target would be approximately $524. This represents a potential gain of around 32%. Minor resistance could be encountered at 446,51. Conclusion: Adobe Inc.'s weekly chart paints an intriguing picture, with an Ascending Triangle indicating a potential bottom reversal. Traders should keep a keen eye on this setup, as a breakout could signal a strong buying opportunity. Remember, this analysis does not serve as financial advice but a guiding point for your own research. Always consider your risk management strategies when trading. If you found this analysis helpful, please like, share, and follow for more updates. Happy trading! Best regards, Karim Subhieh
NASDAQ:ADBE
by KarimSubhieh
IRM WCA - Ascending Triangle Company: Iron Mountain Incorporated (Delaware) Ticker: IRM Exchange: NYSE Sector: Real Estate Introduction: Hello, and welcome to today's technical analysis. We are diving into the weekly chart of Iron Mountain Incorporated (IRM), a Real Estate company traded on the NYSE. Analysis: Taking a look at Iron Mountain's price movement, we can observe a series of interesting patterns. The price was initially propelled into an upward trend by an Ascending Triangle pattern and since the breakout from the ascending triangle took place, price is comfortably sitting above the 200 EMA. So it acted as a reversal pattern. This bullish trend was then enhanced by an accelerating trendline. Following this phase of acceleration, the price entered a kind of sideways trend characterized by a Broadening Triangle pattern. This period of consolidation has since morphed into a new pattern. For the past 399 days, an Ascending Triangle pattern has been forming. The upper horizontal boundary of this pattern has been touched five times, while the upwards sloping trendline acting as support has seen two touch points. It's worth noting that the breakout from this pattern may take some time due to the nature of the data interval that we selected, but due to its potential significance, Iron Mountain Incorporated should be closely monitored as a key watchlist candidate, in whichever way it will break out. Conclusion: In conclusion, Iron Mountain Incorporated presents a compelling case for a trade candidate, with a second Ascending Triangle forming after a period of sideways consolidation. The significance of a future breakout should not be underestimated. As always, this analysis does not constitute financial advice. Please conduct your own research and consider your risk tolerance when making investment decisions. If you found this analysis helpful, feel free to like, share, and follow for more updates. Happy trading! Best regards, Karim Subhieh
NYSE:IRM
by KarimSubhieh
Waste Management: No Time Wasted 🕰From the top of wave D in turquoise, which was commendably paced in our target zone, Waste Management has wasted no time and has briskly started the expected downwards movement. This trend should lead Waste Management into the magenta-colored zone between $154.00 and $146.56 just below the pink trend channel, where the share should conclude wave E in turquoise as well as wave (4) in magenta. Once this low is placed, Waste Management should turn upwards, leaving the trend channel on the northern side and heading for the resistance at $175.98. A 34% chance remains, though, that the share might stop the descent earlier, complete wave alt.2 in turquoise instead and vault above $175.98 from there. In that case, wave alt.(4) would be finished already.
NYSE:WM
by MarketIntel
EFX DCA - Inverted H&S Company: Equifax Inc. Ticker: EFX Exchange: NYSE Sector: Industrials Introduction: Hello, and welcome to this technical analysis! Today, we're exploring the daily chart of Equifax Inc. on the NYSE. We observe an intriguing pattern within a pattern: a shorter-term head and shoulders continuation pattern nested within a longer-term inverted head and shoulders formation. Inverted Head and Shoulders Pattern: An inverted head and shoulders pattern is typically recognized as a bullish reversal pattern, often signaling a transition from a downtrend to an uptrend. Analysis: Equifax's price action has been forming an inverted head and shoulders over the past 411 days. The horizontal neckline, which currently acts as resistance, is around $223.50. Despite the lack of symmetry between the shoulders, the right shoulder being higher than the left is often considered a positive sign. Interestingly, the right shoulder itself contains a shorter-term head and shoulders continuation pattern that has been forming for about 188 days. It's worth noting that the price remains above the 200 EMA. Aggressive traders could have already positioned themselves with the break of the right shoulder at the head and shoulders, but for the conservative ones, we are patiently waiting for a break above the horizontal neckline. The price target for the inverted head and shoulders pattern is $300.84, which represents an approximate increase of 34.58%. Meanwhile, the shorter-term pattern suggests a price target of $257, or around a 22.77% increase. Conclusion: The daily chart of Equifax Inc. presents an intriguing situation where a short-term head and shoulders pattern forms within a longer-term inverted head and shoulders. A confirmed breakout above the neckline could signal a bullish reversal and offer a promising long position entry. As always, it's crucial to perform your own due diligence and employ suitable risk management strategies before making any investment decisions. Thank you for tuning into this analysis. Please remember to like, share, and follow for more market insights. Happy trading! Best regards, Karim Subhieh
NYSE:EFX
by KarimSubhieh
Moody's Corporation WCA - Inverted H&S Company: Moody's Corporation Ticker: MCO Exchange: NYSE Sector: Financial Services Introduction: Hello and welcome to our technical analysis! Today we're examining the weekly chart of Moody's Corporation on the NYSE. A fascinating pattern within a pattern is currently unfolding, with an inverted head and shoulders formation potentially serving as a bottom reversal. Inverted Head and Shoulders Pattern: An inverted head and shoulders pattern typically serves as a bullish reversal pattern, signifying the transition from a downtrend to an uptrend. It's characterized by three successive lows with the middle low (the head) being the deepest and the two other lows (the shoulders) being shallower. Analysis: Moody's previous trend was clearly bearish, interrupted by a consolidation phase taking the form of an inverted head and shoulders. This pattern has been developing over 392 days. Although the usual symmetry between the shoulders is absent, the right shoulder sitting higher than the left is typically a positive sign. Intriguingly, the right shoulder itself seems to be forming as a smaller head and shoulders pattern, all occurring above the 200 EMA. The horizontal neckline of this pattern is at $325. A breakout above this level could provide an opportunity for a long position entry. Upon a successful breakout, our projected price target would be at $418.30, translating into a potential price rise of approximately 28.83%. Conclusion: The weekly chart of Moody's Corporation presents an interesting pattern within a pattern, where a short-term head and shoulders pattern forms within a longer-term inverted head and shoulders pattern. A confirmed breakout above the neckline could offer a promising long position entry. As always, it's important to conduct your own due diligence and employ appropriate risk management strategies before making any investment decisions. Not financial advice Thank you for joining this analysis. If you found it insightful, please like, share, and follow for more market updates. Happy trading! Best regards, Karim Subhieh
NYSE:MCO
by KarimSubhieh
2
NOC WCA - Head and Shoulders PatternCompany: Northrop Grumman Ticker: NOC Exchange: NYSE Sector: Defense Introduction: Hello, and thank you for reading this analysis. Today, we focus on Northrop Grumman (NOC) on the NYSE. The weekly chart shows a potentially significant head and shoulders pattern that deserves our attention. Head and Shoulders Pattern: The head and shoulders pattern is a classic chart formation that can indicate either a bullish continuation or bearish reversal, depending on its orientation and the preceding trend. In this case, the pattern has formed over 441 days, making it noteworthy. Analysis: The NOC chart shows a clear uptrend, as demonstrated by the green upward sloping line and the position of the price above the 200 EMA. Both of these factors contribute to a bullish sentiment. However, the formation of the head and shoulders pattern introduces an element of uncertainty. The neckline of this pattern, which currently acts as support, is at 431.61. A break below this level could signal a bearish reversal, offering a potential shorting opportunity. On the other hand, a break above the right shoulder could indicate a continuation of the bullish trend. Given the existing uptrend and the position above the 200 EMA, the probabilities currently favor a continuation. Conclusion: In summary, Northrop Grumman's weekly chart presents a head and shoulders pattern within an uptrend, offering potential trading opportunities in both directions. Therefore, this is a chart to watch closely in the coming days. As always, it's important to manage your risk appropriately and ensure that any trading decisions align with your overall investment strategy. Please note that this analysis does not constitute financial advice. Always conduct your own research before making investment decisions. If you found this analysis helpful, please like, share, and follow for more updates. Happy trading! Best regards, Karim Subhieh
NYSE:NOC
by KarimSubhieh
(GRMN) DCA - A Bullish Cup and Handle BreakoutCompany: Garmin Ltd. Ticker: GRMN Exchange: NYSE Sector: Technology Introduction: Greetings and welcome to today's technical analysis post. Today, we're looking at the daily chart of Garmin Ltd. (GRMN) on the NYSE, featuring a distinctive Cup and Handle pattern acting as a bottom reversal. Cup and Handle Pattern: A Cup and Handle pattern is a bullish continuation or reversal pattern that signifies a period of consolidation followed by a breakout. It looks like a cup with a handle on the right side. The 'cup' is a curved u-shape, while the 'handle' is a slight downward drift. Analysis: The GRMN chart presents a Cup and Handle pattern that has been forming for 276 days, and is easily recognizable to classic chart pattern analysts. The breakout from this pattern has already occurred, which suggests a potential entry point for traders. Moreover, the price is trading above the 200-day EMA, which supports a bullish setup. Conclusion: The Garmin Ltd. daily chart analysis highlights a clear Cup and Handle breakout, a bullish signal for the stock. As always, please remember that trading based on chart patterns should be done in conjunction with sound risk management and proper position sizing. Please note that this analysis does not constitute financial advice. Always conduct your own due diligence when trading or investing. If you found this analysis helpful, please consider liking, sharing, and following for more. Happy trading! Best regards, Karim Subhieh
NYSE:GRMNLong
by KarimSubhieh
COST WCA - Awaiting a Breakout from SymmetryCompany: Costco Wholesale Corporation Ticker: COST Exchange: NASDAQ Sector: Consumer Defensive Introduction: Greetings and thank you for taking the time to read my analysis. Today, we delve into the weekly chart of Costco Wholesale Corporation (COST) which has been forming a symmetrical triangle pattern for the past 12.88 months. This pattern is typically a sign of market indecision, and we're anticipating a breakout soon. Symmetrical Triangle Pattern: A symmetrical triangle is a chart pattern in technical analysis used by traders to predict future price movements. It is formed when the price of an asset consolidates between converging trendlines that slope towards each other, creating a triangular shape. The pattern is characterized by lower highs and higher lows, indicating a tightening price range as the market reaches a point of equilibrium between buying and selling pressure. In this case, we have 5 clear touch points on the upper trendline and 3 on the lower trendline. Analysis: Costco's price is currently above the 200 EMA, and given the clear uptrend preceding the triangle, we are inclined to see this symmetrical triangle as a bullish continuation pattern. However, the inherent indecision signaled by the symmetrical triangle means we should hold off on calculating a price target until a definite breakout occurs. Moreover, a breakout must occur soon, as the closer we get to the triangle's apex, the weaker the effect of the breakout. This makes COST a high-priority watchlist candidate that should produce a result soon, regardless of the direction it takes. Conclusion: The Costco Wholesale Corporation weekly chart analysis points towards a symmetrical triangle pattern, indicating market indecision and a potential breakout soon. Traders should closely monitor this chart for signs of a breakout. Remember, this analysis is not financial advice. Always conduct your own research when investing and consider risk management and proper position sizing when trading based on chart patterns. If you found this analysis helpful, please like, share, and follow for more updates. Happy trading! Best Regards, Karim Subhieh
NASDAQ:COST
by KarimSubhieh
A look into Spotify TechnologyHello, here is a brief personal analysis of Spotify Technology on the NYSE for the medium-long term. With price information from April 2018, it is a fairly simplified graph, let's remember that entertainment and technology companies were one of the few areas, along with pharmaceuticals, that saw maximum peaks during the COVID pandemic, compression and distribution time has passed and we can see a bearish elliot waves completed with final impulse 5 early this 2023 so we seem to be riding at the beginning of a bullish elliot waves standing at 1 or 1/2 spotify balances this afternoon and can define quite a bit the path to follow, we find value in the medium-long term, let's hope that the days go by. A cordial greeting to all!
NYSE:SPOTLong
by Zky17
HPQ WCA - Ascending Triangle Company: HP Inc. Ticker: HPQ Exchange: NYSE Sector: Technology Introduction: Hello and thank you for taking the time to read my post. Today, we analyze the weekly chart of HP Inc. (HPQ), focusing on an interesting price pattern, an ascending triangle as a reversal pattern. Although rare, ascending triangles can indeed act as reversal patterns, offering potential trading opportunities. Ascending Triangle Reversal Pattern: An ascending triangle is a bullish continuation or reversal pattern, characterized by a horizontal resistance line and a rising trendline that connect the higher lows. The pattern typically indicates an accumulation phase where buyers are gaining control, leading to a potential breakout above the horizontal resistance. Analysis: On the weekly chart, HPQ exhibits an ascending triangle reversal pattern. We can see a clear horizontal resistance line at $30.95, which has already been touched three times, and a clear diagonal uptrend line that has been touched twice. Importantly, this pattern is forming above the 200 EMA, reflecting a bullish environment. The price target for this pattern is $37.60, representing a potential gain of approximately 21%. Traders should closely monitor the horizontal resistance level at $30.95 for any signs of a breakout. Conclusion: The HPQ weekly chart analysis highlights an ascending triangle reversal pattern, signaling a potential reversal of the current trend. Traders should closely monitor the horizontal resistance level for any signs of a breakout. As always, it's essential to consider risk management and proper position sizing when trading based on chart patterns. Please note that this analysis is not financial advice. Always do your own due diligence when investing or trading. If you found this analysis helpful, please like, share, and follow for more updates. Happy trading! Best regards, Karim Subhieh
NYSE:HPQ
by KarimSubhieh
PPG Industries WCA - Rectangle Reversal PatternCompany: PPG Industries Ticker: PPG Exchange: NYSE Sector: Materials Introduction: Hello and thank you for taking the time to read my post. Today, we analyze PPG Industries' chart on the weekly scale, focusing on a classic price pattern called the "Rectangle Pattern." PPG Industries is a global supplier of paints, coatings, and specialty materials, traded on the NYSE under the ticker PPG. Classic Rectangle Pattern: The classic rectangle pattern is a chart pattern formed when the price of an asset moves between two parallel horizontal lines, representing support and resistance levels, over a period of time. It reflects a consolidation phase where the market is undecided about the direction of the trend and can serve as a reversal or continuation pattern depending on the context. Analysis: PPG Industries offers an excellent example of a rectangle pattern serving as a reversal pattern. The overall trend has been bearish since 07/06/2021, with the rectangle emerging as a consolidation pattern during this period. This 399-day-old pattern demonstrates clear touchpoints on both the lower and upper boundaries, which are situated at 107 and 138, respectively. Recently, the price broke out of the rectangle and is now retesting the multi-month resistance-turned-support, suggesting a potential trend reversal. All of that happens above the 200 EMA. Price Targets and Resistance Levels: The price target for this pattern is set at 168.55, which translates to a 22.13% increase from the current level. On the way to the target, we may encounter resistance at a supply zone near 168, which should be monitored closely. Conclusion: The PPG Industries weekly chart showcases a textbook example of the rectangle reversal pattern, indicating a potential trend change from bearish to bullish. As the price has broken out of the rectangle and is currently retesting the former resistance as support, traders should keep a close eye on the development of this pattern. Remember to consider risk management and proper position sizing when trading based on chart patterns. Please note that this analysis is not financial advice. Always do your own due diligence when investing or trading. If you found this analysis helpful, please like, share, and follow for more updates. Happy trading! Best regards, Karim Subhieh
NYSE:PPGLong
by KarimSubhieh
Berkshire Hathaway Inc. New WCA - Classic Rectangle PatternHello and thank you for taking the time to read my post. Today, we analyze Berkshire Hathaway Inc. New's chart on the weekly scale, focusing on a classic price pattern called the "Rectangle Pattern." Berkshire Hathaway Inc. New is a diversified financial services conglomerate, traded on the NYSE under the tickers BRK.A (Class A shares) and BRK.B (Class B shares). Classic Rectangle Pattern: The classic rectangle pattern is a chart pattern formed when the price of an asset moves between two parallel horizontal lines, representing support and resistance levels, over a period of time. In essence, it reflects a consolidation phase where the market is undecided about the direction of the trend. Analysis: In the case of Berkshire Hathaway Inc. New, we observe a 322-day rectangle with several touching points. The upper boundary is at 320$, and the lower boundary is at 264$. The price chart has just broken out of the rectangle and is re-testing the old resistance as support, which makes an entry interesting. All this happens while we are above the 200 EMA, which supports a bullish environment and an idea on the long side. Additional Analysis: The recent breakout from the rectangle pattern and the re-test of the old resistance as new support suggest a potential upward trend continuation. As we are above the 200 EMA, the bullish environment is further supported, making long positions more attractive. The price target is at 376$, which represents a potential ~17.5% price increase. On the way to the price target, we can expect to encounter resistance at 360$. Conclusion: The Berkshire Hathaway Inc. New weekly chart showcases a classic Rectangle Pattern, reflecting a consolidation phase in the market. The recent breakout and re-test of old resistance as support, combined with the price being above the 200 EMA, signal a potential continuation of the bullish trend. With a price target of 376$ and intermediate resistance at 360$, traders should remain vigilant and consider proper risk management strategies when entering long positions. Company: Berkshire Hathaway Inc. New Ticker: BRK.A (Class A shares) / BRK.B (Class B shares) Exchange: NYSE Sector: Diversified Financial Services Please note that this analysis is not financial advice. Always do your own due diligence when investing or trading. Best regards, Karim Subhieh
NYSE:BRK.BLong
by KarimSubhieh
2