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New Kind of Network DCA - Rectangle PatternExchange: Binance Project: New Kind of Network Ticker: NKN Sector: Cryptocurrency Introduction: Today, we are analyzing the NKN/USDT cryptocurrency on the daily scale chart, focusing on a crucial principle in trading - patience. It's crucial to not jump into trades prematurely and we will be using the current state of NKN to illustrate this. Rectangle Pattern: In technical analysis, a Rectangle pattern forms during a consolidation phase, typically characterized by the price bouncing between clearly defined horizontal support and resistance levels. Analysis: Like many cryptocurrencies, NKN was previously in a downtrend, subsequently transitioning into a consolidation phase. This phase has formed a Rectangle pattern that has been active for over 384 days. The upper boundary of the Rectangle is at $0.1438, marked by 6 touchpoints, while the lower boundary sits at $0.0685, demonstrated by 3 touchpoints. At present, the price appears to be consolidating above the 200 EMA, signaling a bullish environment. A breakout, confirmed by a candle close above the upper boundary, could present an opportunity to initiate a long position. The anticipated price target would then be at $0.2200, which signifies a potential price increase of 52.5%. Conclusion: This technical setup places NKN as a watchlist candidate. However, today's analysis offers more than just a potential trading setup; it underlines the importance of patience in trading. The marked "spikes" on the chart represent premature breakouts. Those who didn't wait for a confirmed candle closure would have likely encountered significant losses. This serves as a powerful reminder of the crucial need for patience when trading. As always, this analysis should be utilized as part of a broader trading strategy, incorporating appropriate risk management. Stay tuned for more cryptocurrency analysis and remember, patience is a virtue in trading. Happy trading! Best Regards, KarimSubhieh
by KarimSubhieh
2
Bio-Techne Corp WCA - Rectangle Company: Bio-Techne Corp Ticker: TECH Exchange: NASDAQ Sector: Healthcare Introduction: Today, we are looking at Bio-Techne Corp (TECH) on the weekly chart. Bio-Techne is a prominent name in the Healthcare sector and is traded on the NASDAQ exchange. Currently, the stock exhibits a Rectangle pattern that could signal a potential shift in the stock's direction. Rectangle Pattern: A Rectangle pattern typically manifests during a consolidation phase and is recognized by price movements that tend to bounce between horizontal support and resistance lines, forming a rectangular shape. Analysis: In the past, Bio-Techne Corp's stock price trended downward. However, this trend appears to have been interrupted by a consolidation zone characterized by a Rectangle pattern. The upper boundary of the pattern is positioned at $87.50, having been tested four times. The lower boundary stands at $70, having been touched twice. Interestingly, the price is again using the 200 EMA as a support, indicating the potential for a bullish shift. It seems that the stock might be gearing up for another attempt to test the upper boundary. If a breakout occurs above this resistance level, we could anticipate a price target of $105, representing a potential increase of around 20%. Conclusion: The technical setup on Bio-Techne Corp's weekly chart showcases a Rectangle pattern, suggesting a potential consolidation period before the next significant price move. Traders should keep this stock on their watchlist, especially in anticipation of a breakout above the upper boundary. Remember, this analysis is intended to be used as part of your wider market research and risk management strategy and should not be considered as direct trading advice. As always, happy trading, and stay tuned for more analysis! Best Regards, Karim Subhieh
NASDAQ:TECH
by KarimSubhieh
Samsung SECU DCA - RectangleCompany: Samsung SECU Ticker: 018260 Exchange: Korea Exchange (KRX) Sector: Technology Introduction: Welcome to today's technical analysis. We're turning our focus to Samsung SECU, analyzing its daily scale chart on the Korea Exchange (KRX). The price action suggests a well-defined rectangle pattern formation, which, coupled with the bullish market sentiment reflected in the KOSPI Composite Index, presents an interesting setup. Rectangle Pattern: A rectangle pattern is a trend continuation pattern formed when the price oscillates between parallel support and resistance levels. The breakout direction indicates the trend direction. Analysis: Samsung SECU's price has been moving within a clearly defined range, forming a Rectangle pattern. The upper boundary of this Rectangle is at 36000 KRW, while the lower boundary is at 30150 KRW. With four touch points at both boundaries, the fourth at the upper boundary has already signaled a breakout. Additionally, the price is above the 200 EMA, indicating a bullish market environment. As a result, a long position becomes a favorable consideration. Our projected price target post-breakout is set at 41850 KRW, translating into a potential price rise of approximately 16.27%. Conclusion: Samsung SECU's daily chart presents a compelling scenario, with a clear Rectangle pattern and a recent breakout. Given the bullish sentiment in the overall market, as indicated by the rising KOSPI Composite Index, long positions currently seem favorable. As always, remember that this analysis does not constitute financial advice. Conduct your own research and consider risk management strategies before making any investment decisions. If you found this analysis helpful, please like, share, and follow for more insights. Happy trading! Best regards, Karim Subhieh
KRX:016360
by KarimSubhieh
1
Mitsubishi Heavy Industries WCA - Rectangle PatternCompany: Mitsubishi Heavy Industries Ticker: 7011 Exchange: Tokyo Stock Exchange Sector: Industrial Introduction: Hello and welcome to this week's technical analysis. We're focusing on Mitsubishi Heavy Industries, as represented on the weekly chart of the Tokyo Stock Exchange. The company's stock has formed an interesting rectangle pattern over the past 378 days, acting as a potential bullish continuation. Rectangle Pattern: A Rectangle pattern can act as a continuation or reversal signal, formed when price oscillates between two parallel lines—support and resistance. The eventual breakout direction might determine the continuation or reversal of the current trend. Analysis: Previously, Mitsubishi Heavy Industries' price has been on an upward trend, and this Rectangle pattern might signal a bullish continuation. The price has been moving within two clearly defined boundaries—upper at 5650 and lower at 4476. Both these boundaries have experienced two touch points each. Significantly, this consolidation is occurring above the 200 EMA. Presently, we have seen a fresh breakout above the upper boundary, and we're patiently awaiting the weekly candle's close to plan a potential long entry. Assuming the breakout is valid, our projected price target is at 6826, indicating a potential price rise of about 20.74%. Conclusion: The weekly chart of Mitsubishi Heavy Industries presents a possible bullish continuation pattern in the form of a Rectangle. A confirmed breakout above the upper boundary could offer a promising long entry opportunity. As always, conduct your own research and consider appropriate risk management strategies when investing. Thank you for joining this analysis session. If you found it valuable, please like, share, and follow for more market insights. Happy trading! Best regards, Karim Subhieh
TSE:7011
by KarimSubhieh
SOXL - Rising Trend Channel [MID TERM]- SOXL is moving within a rectangle formation between support at 12.99 and resistance at 18.59. - A decisive break through one of these levels indicates the new direction for the stock. - SOXL is between support at 13.70 and resistance at 18.00. - Overall assessed as technically positive for the medium long term. *EP: Enter Price, SL: Support, TP: Take Profit, CL: Cut Loss, TF: Time Frame, RST: Resistance, RTS: Resistance to be Support LT TP: Long Term Target Price *Chart Pattern: DT - Double Top | BEARISH | RED DB - Double Bottom | BULLISH | GREEN HNS - Head & Shoulder | BEARISH | RED REC - Rectangle | BLUE iHNS - inverse head & Shoulder | BULLISH | GREEN Verify it first and believe later. WavePoint ❤️
AMEX:SOXLLong
by wavepoint99
2
SSE Composite Index WCA - Classic Rectangle Introduction: Hello and thank you for taking the time to read my post. Today, we analyze the SSE Composite Index on the weekly scale, focusing on a classic price pattern called the "Rectangle Pattern." The SSE Composite Index is the most important stock index in China, excluding Hong Kong. It is a price index weighted by market capitalization and includes all public companies listed on the Shanghai Stock Exchange. The index is published by the China Securities Index Company. Analyzing an index helps enormously with top-down approaches, as it provides a broader perspective of the market and allows investors to gauge the overall sentiment before diving into individual stocks. Rectangle Pattern: The 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. Remember, this is just a brief introduction to the technical aspects of the rectangle pattern. As you delve deeper into this topic, you'll discover more nuances and practical applications that can enhance your trading strategies. Additional Analysis: On the SSE Composite Index chart, we can observe some fascinating insights. The general trend was downward until 25/04/2022, which changed with the formation of a hammer. Since then, the price has been bound within a range, which is depicted as a classic rectangle pattern. This pattern has been forming for 423 days, which is notable because the longer a pattern remains consistent, the higher the probability that the subsequent breakout will be volatile. The support of the range is at 2890, while the resistance is at 3400. Currently, the price is above the 200 EMA, making a long entry more attractive. We will closely monitor the price pattern and wait for a break above 3400 while examining the sectors or stocks from the SSE Composite Index more closely. The next potential resistance after 3400 would be 3720. Top-Down Approach Significance: A top-down approach is a method that investors use to analyze the market, beginning with a broad overview and then narrowing down to individual stocks. This method helps investors identify the overall market sentiment and trends, allowing them to make more informed decisions when selecting stocks within specific sectors or industries. Analyzing the SSE Composite Index, as shown in this post, provides a valuable starting point for investors looking to employ a top-down approach in their decision-making process. Conclusion: The SSE Composite Index weekly chart showcases a classic Rectangle Pattern, reflecting a consolidation phase in the market. By closely monitoring the support and resistance levels, as well as the general trend, traders can be better prepared for any potential price action in the future. Utilizing a top-down approach enables investors to gain a broader perspective and make more informed decisions when selecting stocks. 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
SSE:000001
by KarimSubhieh
2
WM - Broken Failing Trend Channel- WM has broken the falling trend channel in the medium long term and reacted strongly up. - The price has broken the resistance at 164 of a rectangle pattern, which signals a further rise. - The stock has support at 155 and resistance at 170. - The short term momentum of the stock is strongly positive, with RSI above 70. - However, particularly for big stocks, high RSI may be a sign that the stock is overbought and that there is a chance of a reaction downwards. - Overall assessed as technically positive for the medium long term. *EP: Enter Price, SL: Support, TP: Take Profit, CL: Cut Loss, TF: Time Frame, RST: Resistance, RTS: Resistance to be Support LT TP: Long Term Target Price Verify it first and believe later. WavePoint ❤️
NYSE:WMLong
by wavepoint99
WHEAT FUTURES Weekly Technical AnalysisZW1! Weekly - No RECOMMENDATION or ADVICE Status / EDUCATIONAL only - Support, Resistance, Trend Lines, Cluster, Confluence, Rectangles, Pitchfork, Modified Schiff Pitchfork, Fibonacci Extension - Hope it Helps, Good Luck DISCLAIMER - This communication is not trading or investment advice, recommendation or solicitation to buy, sell or hold any investment product is provided for informational, educational and research purposes only. All illustrations, forecasts or hypothetical data are for illustrative purposes only. The author or persons involved in the conception, production and distribution of this material cannot be held responsible for transactions or any financial loss or damages resulting directly or indirectly from the use or application of any concepts or information contained in or derived from this material. Past performance is not indicative of future results. Any person who chooses to use this information as a basis for their trading assumes all the liability and risk for themselves.
CBOT:ZW1!
by BahamasX
Is INTEL CORP exhibiting signs of a major bottom?INTEL stock has been decimated the last few months, due to growing competition, decelerating revenue and decrease of dividend. Is it dead though? Here is what the chart is saying: Big downtrend since April 2021. On October 2022, the stock has started a consolidation/base in form of a range between 24.90 and 30.85. This range could be a bottom formation . See also the double bottom on the chart. Note that bottoming pattern takes time and this one could continue for a few more weeks/months. However a break out of the range (31) could confirm a change of trend and a long trade/investment. Keep monitoring this stock in the next few days/weeks, set an alert at the top of the range. If it breaks out of the range, it will be time to initiate a long position. Note that there was a lot of institutional buying in February 2023. On watch.
NASDAQ:INTC
by Elpidaldo
HD: RECTANGLE PATTERN AND FULL TECHNICAL ANALYSISHD ( HOME DEPOT ): Consumer Cyclical - Home Improvement Retail. Home Depot is included in the Down Jones Industrial Average. My technical analysis on the stock: The current downtrend took the stock 37% of its all time high of January 2022. On June 23, HD initiated a strong bounce to $333 off the $265 level. On August 17, HD initiated a huge drop back to 265, to bounce back again to the 330 zone where we currently are. The stock is currently down 22% off its all time high. Is this a buy? No one knows, but let's look at technical analysis to help us make a decision. As we see from the chart, the 265-269 zone is acting as a strong support while the 328-333 zone is acting as a strong resistance. All of the above has created a nice range in the shape of a rectangle. A rectangle is formed when the price is confined to moving between the two horizontal levels, creating a rectangle. The pattern can indicate a few things: - that the downtrend has paused and the stock is now consolidating before a continuation down. So back at the bottom of the rectangle and break down. - that the downtrend has stopped and we're looking at a change of trend. Kind of bottoming pattern. So basically it can keep ranging for a while and break to the upside OR break to the upside in the next few days. The rectangle ends when there is a breakout, and the price moves out of the rectangle. Considering the above there are several ways to trade it: 1. If you think the price will keep consolidating within the range, you can short the stock at the top of the range . Your target is the bottom of the rectangle, with a stop just above the rectangle. 2. if you have a more bullish view, you can wait for a breakout off the rectangle and go long the stock , with a stop below the top line of the rectangle. All targets are mentioned on the chart (blue lines). Rectangle ultimate target being $400. I'm leaning slightly bullish here because moving averages have started to rise, and I like the triple bottom, but who knows. Whatever your opinion is, best is to manage your risk. Trade safe.
NYSE:HD
by Elpidaldo
2
GEO: Michael Burry bought more GEO Michael Burry has bought more shares of this REIT so I thought I'd give a look at the chart for those who want to follow him. What the chart is saying: Big downtrend since May 2017. In May 2021, the stock has started a consolidation/base in form of a range between 5.5 and 9.54. This range could be a bottom formation. Note that bottoming pattern takes time and this one could continue for a few more weeks/months. However a break out of the range (9.54) could confirm a change of trend and a long trade/investment. Keep monitoring this stock in the next few days/weeks, set an alert at the top of the range. If it breaks out of the range, the first potential targets are 11, 13.90 and 17. I remain neutral for now. On watch.
Editors' picks
NYSE:GEO
by Elpidaldo
11
XAUUSD - new potential setupsFX_IDC:XAUUSD Hello everyone! 🛎 Let check the trading idea for XAUUSD 🤗 Not making anything difficult everything is pretty straightforward. 👉 1. Price goes ABOVE the selected range on the picture. Long positions to activate. 🟢 👉 2. Price goes BELOW the selected range. Short positions to activate. 🔴 ---------------------------------------------------------------------------------------------------------------------------- ⚠️ Important Notes: 1. Always follow your trading plan regarding entry, risk management, and trade management. ❗️❗️❗️ 2. Timeframes: up to H4 ---------------------------------------------------------------------------------------------------------------------------- 😉 If you like the idea there was a like 🚀 and sign up so you can continue receiving great ideas like this one and also for us to make pattern the idea! 🤝 💪 Profitable lock for everyone! 🙏
FX_IDC:XAUUSD
by Solidity_best_options
2
$SHOP Rectangle pattern trading rangeNYSE:SHOP The price has formed a Rectangle pattern and has been in a trading range since May 2022. A close above $41.85 will confirm the pattern's breakout, with a target price of $51. 40 . A close below $28.90 will confirm the pattern's breakout, with a price target of $21.75. Note that not every price target is met. $SHOP remains in a downtrend. A close above $79.00 will confirm a trend reversal, and the price will likely keep moving to the upside.
NYSE:SHOP
by SanchezAxline
$CNC ready to break out of its ~5 month basse?Notes: * Very strong up trend on all time frames * Great earnings track record * Building a base on base pattern * Held up very well against the general market and its sector * Recently bounced from its 50 day line * Printed a pocket pivot with higher than average volume * Saw a lot of demand around the 50 day line a few days ago with a strong bullish hammer Technicals: Sector: Healthcare - Healthcare Plans Relative Strength vs. Sector: 1.15 Relative Strength vs. SP500: 1.1 U/D Ratio: 1.22 Base Depth: 18.61% Distance from breakout buy point: -1.98% Volume 39.0% above its 15 day avg. Trade Idea: * You can enter now as the price is still close to the 50 day line and just printed a pocket pivot * If you want a better entry you can look for one around 86.8 as that should hold as support moving forward * This stock usually has local tops when the price closes around 11.18% above its 50 EMA * Consider selling into strength if the price closes 10.98% to 11.38% (or higher) above its 50 EMA * The last closing price is 6.04% away from its 50 EMA
NYSE:CNCLong
by HaseebKhan_90
Thoughts on GBPUSD (Bearish possibility)Although the market is consolidating, the market is moving on a price range and making a rectangle pattern. We just have to wait for the price to give us the entry whether is a sell or buy. I'm inclining to believe that gbpusd will go for a short position and mostly because we've been in a bearish market this past months, but we just have to wait for the price to tell us what it's going to go. Target would be the green lines depending what the market does in the future. Do you have any other ideas? Let me know on the comments.
by pinoso