EURONEXT target price @98.15€ +6.12%Euronext has activated a double bottom pattern that may lead the price to 98.15€ that is +6.12% from current price. Price above 109.60€ may activate a second impulse structure with a target price at 143€.
Sell signal Prosus N.V. Just entered a short position in EURONEXT:PRX .
Entry @ 87,75
Stop @ 91,20 (-3,9%)
Target @ 75,20 (+14,3%)
There's long term divergence MACD (sell signal given) and RSI (sell signal given). DMI confirms with a DI - > DI + and ADX rising; confirming downtrend.
At the moment there's some gap filing going on, it's just waiting for the red rising support line to be broken and the next down gap to be made ...
Target is the support @ 75,20 which has been formed with big volume, so I assume it's kind of solid.
Time to prepare shortsGetting ready to cross the SMA10 on the Renko chart, having OBV trending down. Once SMA10 is crossed and OBV continues down, there will be great short opportunities.
About Renko Charts
A Renko chart is a type of chart, developed by the Japanese, that is built using price movement rather than both price and standardized time intervals like most charts are. It is thought to be named after the Japanese word for bricks, "renga," since the chart looks like a series of bricks. A new brick is created when the price moves a specified price amount, and each block is positioned at a 45-degree angle (up or down) to the prior brick. An up brick is green, while a down brick is red.
Waiting for uptrend confirmationCurrently waiting uptrend confirmation. As soon as SMA10 is crossed and OBV keeps its vector upwards long postions can be taken. Expect confirmation in the 28-29 range. Looking forward to your feedback.
About Renko Charts
A Renko chart is a type of chart, developed by the Japanese, that is built using price movement rather than both price and standardized time intervals like most charts are. It is thought to be named after the Japanese word for bricks, "renga," since the chart looks like a series of bricks. A new brick is created when the price moves a specified price amount, and each block is positioned at a 45-degree angle (up or down) to the prior brick. An up brick is green, while a down brick is red.
Cup & Handle on week charts?On the week chart it looks like a cup & handle is forming.
Resistance would the high of the cup which is 8.635 €
If resistance is broken it might go up but stay within the current channel (still a 50% gain possibility)
*not financial advice. I know nothing!
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MT - Is this the TOP or are we going to 32.5? - ARCELORMITTAL SAArcelorMittal SA is the biggest steel manufacturer in the world.
We had a stellar run from the march low and we made good money with this stock. A lot of people believe it has steam left.
The big question, is this the top or are we going to go higher?
Some institutions have upgraded MT to anywhere between a 25-32.5 EUR target. We got the high steel prices, above average profitability, ECB support on their debt, excellent pickup in demand.
What do the charts say? The monthly shows lot's of promise, no signals we are at a top, if you believe in long term trend anylisis.
The weekly stochastics look a little overbought, but then again, stochastics arn't the best indicator during very strong upwards or downwards rally's.
I believe MT will see some selling off the top, and then try another stab at the 200MA which it broke above last week but fell back under on firday (200MA is white line on the chart below).
