TGYM - 7 months RECTANGLE══════════════════════════════
Since 2014, my markets approach is to spot
trading opportunities based solely on the
development of
CLASSICAL CHART PATTERNS
🤝Let’s learn and grow together 🤝
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Hello Traders ✌
After a careful consideration I came to the conclusion that:
- it is crucial to be quick in alerting you with all the opportunities I spot and often I don't post a good pattern because I don't have the opportunity to write down a proper didactical comment;
- since my parameters to identify a Classical Pattern and its scenario are very well defined, many of my comments were and would be redundant;
- the information that I think is important is very simple and can easily be understood just by looking at charts;
For these reasons and hoping to give you a better help, I decided to write comments only when something very specific or interesting shows up, otherwise all the information is shown on the chart.
Thank you all for your support
🔎🔎🔎 ALWAYS REMEMBER
"A pattern IS NOT a Pattern until the breakout is completed. Before that moment it is just a bunch of colorful candlesticks on a chart of your watchlist"
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⚠ DISCLAIMER ⚠
Breakout Area, Target, Levels, each line drawn on this chart and any other content represent just The Art Of Charting’s personal opinion and it is posted purely for educational purposes. Therefore it must not be taken as a direct or indirect investing recommendations or advices. Entry Point, Initial Stop Loss and Targets depend on your personal and unique Trading Plan Tactics and Money Management rules, Any action taken upon these information is at your own risk.
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TGYM trade ideas
Technogym (TGYM) + 21% 2021 ?Technogym (TGYM) Investing
Technogym, a top Italian company in terms of fitness equipment, excellence in the world of home fitness and gyms all over the world.
The company particularly suffered from the covid crisis and the closure of gyms due to lockdowns, and then recovered from the double bottom of October 2020, with a + 90% rally ended in May.
After a natural and physiological pullback, the price reached my alert, as we are exactly on the POC of the last year and a half of stock exchanges.
The news that then confirmed my entry was the + 21% net revenue in 2021, thanks to the reopening of the gyms.
As often happens, fundamental and "tactics" analysis (even if my trading is 90% based on volumes) coincide.
Target price:
- € 11 for those interested in the short term
- 11.5 € very important volumetric level where they will certainly close part of the position
- € 12.18 all-time high, resistance that is destined to be broken but where the price could stand or bounce
Should the price fall further, the entry or accumulation levels to mediate the price are € 8 and € 6.50.
The Earnings of March 2022 will be very important, still quite far away, in my opinion, there is time to touch at least € 11.50 per share.
Happy trading
Lazy Bull
DISCLAIMER: I am not a financial advisor nor a CPA. These posts, videos, and any other contents are for educational and entertainment purposes only. Investing of any kind involves risk. While it is possible to minimize risk, your investments are solely your responsibility. It is imperative that you conduct your own research. I am merely sharing my opinion with no guarantee of gains or losses on investments.