Stock charts food for thought

Forex Monday the 3rd of April
April 3, 2017
Ετοιμάζεται τραπεζικό…..
April 4, 2017

Good day to all, I would like to share with you some of my trading ideas and very interesting actionable setups I see in some popular shares for the immediate future. Lets start with my favorite Deutsche Bank.

Topping formation and a break below 15€ could push price below 13€. Key resistance at 17.50€ and multiple Head and shoulders pattern in the daily chart. Even as we speak with DAX near new all time highs, there is  clearly a divergence between DBK and DAX.

Interested in Gold? ABX (Barrick Gold Corporation) is about to explode higher with Gold. An inverted Head and shoulders pattern that bulls need to break above 21$ (neckline resistance).

VIX is so much pressured lower that eventually it will bounce strongly upwards like a spring. That is why XIV is already providing a nice reversal signal and a possible strong bounce in VIX to come. 68.50$ is key support. My wave count is as follows.

AMZN may very well have already completed 5 waves up and expecting a correction towards 800$.

A break below 861$ will confirm my view that at least a short-term pull back is in place that could reach between 835-810$ if we have more up waves. Otherwise a break below the daily cloud support at 800$ could signal a bigger correction.

BIDU continues to trade inside a long-term triangle respecting its boundaries. Traders should better wait and act after the breakout.

Here are just of a few of my setups and stocks I closely monitor. Thank you for taking the time to catch up on my thinking.

 

Alexandros Yfantis
Alexandros Yfantis

Fascinated by financial markets, studied International Securities Investment and Banking in the UK, works as a Portfolio Manager in Greece and runs a technical analysis website. Enjoys travelling and spending time with his family and preparing for the black belt in Korean Karate.