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Reverse Head & Shoulders on Industrials ETF, Target at 208Chart Pattern/Trend Analysis The main view of this trade idea is on the Daily Chart. The Vanguard Industrials ETF appears to be in a Reverse or Inverted Head & Shoulders chart pattern setup which began developing over the last couple of months. The Left Shoulder is observed around the 182.30 lows in 28th January 2022. The Head of the chart pattern setup is seen at the 176.31 low on 24th February. The Right Shoulder is spotted at the 183 support zone for the ETF. The Neckline for the chart pattern can be constructed from the lower highs of 194.82 and 191.89 respectively. The completion of the Reverse or Inverted Head & Shoulders chart pattern setup is seen around the 208 price level. A negation of this setup will be known if the ETF falls below the Neckline. Technical Indicators The technical indicators support the bullish view of this note. The ETF VIS is above its 145-SMA on the Daily Chart. Also, in mid March VIS closed above the sell zone of resistance at the 192 price level to enter a new buy zone. The ETF is still in this buy mode. The Awesome Oscillator (AO) is above 0 and green, while the RSI is over the 50 level. There was some bullish divergence for the RSI, when VIS was making lower lows at the Left Shoulder and Head of the chart pattern setup, the RSI was making higher lows. The intra-day trend following indicators of VIS also display uptrends in the 15-Min, 2-Hour and 4-Hour time frames. The near-term support zone for the ETF is observed around the 191.75 to 195.75 price range. Recommendation The recommendation will be to go long at market, with a stop loss at 192 and a target of 208. This produces a risk/reward ratio of 1.53. Disclaimer The views expressed are mine and do not represent the views of my employers and business partners. Persons acting on these recommendations are doing so at their own risk. These recommendations are not a solicitation to buy or to sell but are for purely discussion purposes.
AMEX:VISLong
by Ceddy86
Triple Bottom Setup on AAPL, Target at 205Chart Pattern/Trend Analysis The main view of this trade idea is on the Daily Chart. The Company stock Apple (AAPL) appears to have exhibited a triple bottom around the 150-155 support zone over the last 3 months. The stock had 3 declines, the first around the end of January, the second in late February and the last in mid-March. At the time of publishing the stock is testing resistance around the 180 price level. Expectations are for a rally towards the 205 price level. A negation of this view will be observed if AAPL falls back towards the support zone. There is some positive trending relative strength on AAPL on SPX as well as TLT. These occurred around March 21st. Technical Indicators The technical indicators corroborate a bullish view on the stock. There was a switch in the Supertrend indicator around the 160 resistance level with a close above. Also, AAPL had a positive crossover on its 50-day SMA. The Awesome Oscillator (AO) is above 0 and green. Finally the RSI is above 50. The intra-day trend following indicators of AAPL also display uptrends in the 15-Min, 2-Hour and 4-Hour time frames. The near-term support for the stock is observed around the 167.00 to 167.25 price range. Recommendation The recommendation will be to go long at market, with a stop loss at 160 and a target of 205. This produces a risk/reward ratio of 1.42. Disclaimer The views expressed are mine and do not represent the views of my employers and business partners. Persons acting on these recommendations are doing so at their own risk. These recommendations are not a solicitation to buy or to sell but are for purely discussion purposes.
NASDAQ:AAPLLong
by Ceddy86
2
X (United States Steel) - Bearish Double Top & Momentum - DailyX (United States Steel Corporation) stock price has double-topped below $38.57. Bearish momentum (MACD) has down-crossed on a daily time frame. Entry (short): $37.25 Profit Target +12% (exit): $32.76 Stop Loss -6% (exit): $39.49 Utilize stop loss, profit targets, position sizing, and risk management. Note: Many stocks and ETFs have already rallied up for the past two weeks, signs of price potentially topping out have formed. XLB (Materials sector ETF) price has also reached a Resistance Zone and could possibly pull back to the downside. All content is Not financial advice. Trade at your own risk.
NYSE:XShort
by NoFomoCharts
Brent Crude May Form a Big Bullish TriangleA few days ago, America announced the uncapping of strategic oil reserves, which are now at the lowest level in the last 20 years - about 570 million barrels. Regular sales of 1 million barrels per day of oil will lead to their reduction by another third. But today oil quotes are getting more expensive again, as the sale of oil from the US strategic reserve will not compensate for the Russian oil that has fallen out if the calls of French President Emmanuel Macron are heard and EU countries impose an embargo on imports from Russia. These new sanctions should target coal and oil, Macron said. Some European governments insist on imposing additional sanctions against Russia. I will not claim that Europe is hearing Ukraine to provocations and has already chosen Russia in advance as the culprit. The problem is that governments do not want to admit to themselves that the rejection of Russia's hydrocarbons is a big damage to the EU. Russian gas accounts for about 40% of natural gas imports to the EU, and oil accounts for about 25%, Sky News writes. The Germans have revised their views on "green energy" (abandoning nuclear power plants, switching to wind power). According to many economists, the ban on Russian energy supplies will lead to a reduction in German GDP by more than 5%. This decline will be the second largest since the Second World War. The German Economic Institute stated that the imposition of an embargo on oil and gas would lead to incalculable risks. In my opinion, the chances of introducing new sanctions are quite high, which means that oil prices will not only not fall, but may also continue to grow in the medium term. I assume the formation of a large bullish triangle on the daily chart with the stability of the growing trend, which started from the beginning of December 2021. A breakthrough for the maximum on March 24 will be an unambiguous signal for further price growth. Although the first signal to increase will be received if the triangle resistance line is overcome, which falls in the area of $ 117-118 per barrel. PS Does America really want to suppress the rise in gasoline prices? or is she confused about her plans?
OLong
by scavoanastasiia