ANSYS
Ansys, Inc. is a global public company based in Canonsburg, Pennsylvania. It develops and markets multiphysics engineering simulation software for product design, testing and operation.
The price chart of Ansys formed a small flag pattern. Flags are continuation patterns. A daily close above the upper boundary will confirm this as a continuation chart pattern with a possible price target of $ 293. Note: There are hundreds of small flag/pennant/wedge patterns currently in the equity markets. I decided to feature a few of them but I advise you to be very cautious when establishing positions on these breakouts.
CH Robinson Worldwide
C.H. Robinson is an American Fortune 500 provider of multimodal transportation services and third-party logistics. The company offers freight transportation, transportation management, brokerage and warehousing. It offers truckload, less than truckload, air freight, intermodal, and ocean transportation.
The price chart of C.H. Robinson formed a small rectangle pattern. Rectangles are mostly continuation patterns. A daily close above the upper boundary will confirm this as a continuation chart pattern with a possible price target of $ 81.70. Note: the descending trend line could trigger heavy selling.
Icahn Enterprises
Icahn Enterprises L.P. is an American conglomerate headquartered at the General Motors Building in New York City. The company has investments in various industries including auto parts, energy, metals, rail cars, casinos, food packaging, real estate, and home fashion.
The price chart of Icahn Enterprises formed a small ascending triangle pattern. A daily close above the upper boundary will confirm this as a continuation chart pattern with a possible price target of $ 61.40. Note: the horizontal resistance could trigger heavy selling. Majority of your position should be sold at that $ 56.9 level.
Intel Corporation
Intel Corporation is an American multinational corporation and technology company headquartered in Santa Clara, California, in Silicon Valley. They design, manufacture, and sell computer components and related products.
The price chart of Intel Corp formed a small rectangle pattern. Rectangles are mostly continuation patterns. A daily close above the upper boundary will confirm this as a continuation chart pattern with a possible price target of $ 68.
PepsiCo
PepsiCo, Inc. operates worldwide beverage, snack, and food businesses. The Company manufactures or uses contract manufacturers, markets, and sells a variety of grain-based snacks, carbonated and non-carbonated beverages, and foods in countries throughout the world.
The price chart of Pepsi formed a flag pattern. Flags are continuation patterns. A daily close above the upper boundary will confirm this as a continuation chart pattern with a possible price target of $ 146.
Xilinx
Xilinx, Inc. designs, develops, and markets complete programmable logic solutions. The Company’s solutions include advanced integrated circuits, software design tools, predefined system functions delivered as cores of logic, and field engineering support.
The price chart of Xilinx formed an inverse Head & Shoulders pattern. Inverse H&S’s are reversal patterns. A daily close above the neckline will confirm this as a reversal chart pattern with a possible price target of $ 125. Note: H&S formed after rejecting a major multi-year ascending trend line. A breakout of the neckline and the secondary minor trendline is a high probability reversal trade.
Anheuser-Busch InBev
Anheuser-Busch InBev SA/NV manufactures alcoholic beverages. The Company produces and distributes beers. Anheuser-Busch InBev serves customers worldwide.
The price chart of Anheuser-Busch InBev formed a symmetrical triangle/pennant pattern. Both can be classified as continuation patterns. A daily close above the upper boundary will confirm this as a continuation chart pattern with a possible price target of $ 58.5. Note: We are currently in a very unstable market so breakouts to the upside for all of these setups will require a decent spike in volume, no positions should be established on breakouts with weak volume.
Royal Dutch Shell PLC
Royal Dutch Shell PLC, through subsidiaries, explores, produces, and refines petroleum. The Company produces fuels, chemicals, and lubricants. Royal Dutch Shell owns and operates gasoline filling stations worldwide.
The price chart of Royal formed a flag pattern. Flags are continuation patterns. A daily close above the upper boundary will confirm this as a continuation chart pattern with a possible price target of $ 45. Note: I don’t think I have to remind you all that this is a company heavily involved with oil, caution is very much advised.
SAP SE
SAP SE is a multinational software company. The Company develops business software, including e-business and enterprise management software, consults on organizational usage of its applications software, and provides training services.
The price chart of SAP formed a pennant pattern. Pennants are continuation patterns. A daily close above the upper boundary will confirm this as a continuation chart pattern with a possible price target of $ 126 and highly ambitious 2nd target of $ 140.
UnitedHealth Group
UnitedHealth Group Incorporated owns and manages organized health systems in the United States and internationally. The Company provides employers products and resources to plan and administer employee benefit programs. UnitedHealth also serves the health needs of older Americans, provides specialized care services, and provides health care information and research to providers and payers.
The price chart of UnitedHealth Group formed a pennant pattern. Pennants are continuation patterns. A daily close above the upper boundary will confirm this as a continuation chart pattern and could trigger a 2nd breakout of the February 2020 high.
Banco Santander
Banco Santander S.A. attracts deposits and offers retail, commercial and private banking, and asset management services. The Bank offers consumer credit, mortgage loans, lease financing, factoring, mutual funds, pension funds, insurance, commercial credit, investment banking services, structured finance, and advice on mergers and acquisitions.
The price chart of Banco Santander formed a descending triangle pattern. descending triangles are mostly continuation patterns. A daily close below the lower horizontal boundary will confirm this as a continuation chart pattern with a possible price target of $ 1.53.
Bank of Nova Scotia
The Bank of Nova Scotia provides retail, commercial, international, corporate, investment and private banking services and products.
The price chart of The Bank of Nova Scotia formed a rectangle pattern. Rectangles are mostly continuation patterns. A daily close above the upper boundary will confirm this as a continuation chart pattern with a possible price target of $ 47.40
Caterpillar
Caterpillar Inc. designs, manufactures, and markets construction, mining, and forestry machinery. The Company also manufactures engines and other related parts for its equipment, and offers financing and insurance.
The price chart of Caterpillar formed a falling wedge pattern. Falling wedges are continuation patterns if the trend preceding the pattern was an uptrend. A daily close above the upper boundary will confirm this as a continuation chart pattern with a possible price target of $ 128.40
Deere & Co
Deere & Company manufactures and distributes a range of agricultural, construction, forestry, and commercial and consumer equipment. The Company supplies replacement parts for its own products and for those of other manufacturers.
The price chart of Deere & Co formed a symmetrical triangle pattern. Symmetrical triangles can classified as continuation and reversal patterns. A daily close above the upper boundary will confirm this as a continuation chart pattern with a possible price target of $ 176.8
Zoetis
Zoetis Inc. discovers, develops, manufactures, and commercializes animal health medicines and vaccines, with a focus on both livestock and companion animals.
The price chart of Zoetis formed a small rectangle/flag pattern. Both are continuation patterns. A daily close above the upper boundary will confirm this as a continuation chart pattern with a possible price target of $ 143.1
Silvercorp Metals
Silvercorp Metals Inc. acquires, explores, and develops mineral properties in China. The Company is developing its Ying Silver project located in the People’s Republic of China.
The price chart of Silvercorp Metals formed a symmetrical triangle pattern. Symmetrical triangles can classified as continuation and reversal patterns. A daily close above the upper boundary will confirm this as a continuation chart pattern with a possible price target of $ 5.80 for a retest of the December 2019 high.
