We're flat temporarily with #Tesla | 19 Juli 2019

 #IBM weekly

We're flat temporarily with #Tesla

Technical observation

Last week #IBM continued to rise above a resistance zone it established around 140.20-137.91 and is currently trading above it. My expectation is a correction to the just broken zone followed by a rejection within it for possible bullish momentum towards the key level 172.70 and a possible breach above it for a further increase in value of this commodity. My advice, wait for a correction to the zone 140.20-137.91 and a rejection within it to buy #IBM shares with your take profit at 172.70 and stop loss at 127.7. As long as this commodity is contained above the zone 140.20-137.91, only long positions may be recommended.

Trade recommendation

Wait for a correction to 140.20-137.91 to buy #IBM.

#FedEx weekly

We're flat temporarily with #Tesla

Technical observation

The commodity on the weekly chart above is trading between a resistance zone 183.59-179.72 and a supportive level 144.94, last week the value of this commodity went up but could not reach the above mentioned zone, as it is on the chart above, I expect either a correction to 183.59-179.72 and a rejection within it for bearish momentum towards the line 144.94, or a decline to the supportive level 144.94 followed by a clear penetration below it and a correction to it for downwards movements towards the key line 101.77.Long positions may only be advisable above the resistance zone 183.59-179.72 towards  228.78.

Trade recommendation

Remain flat.

#Tesla weekly

We're flat temporarily with #Tesla

Technical observation

Following its rejection at the supportive line 181.67, the value of this commodity has been rising steadily towards the resistance zone 261.98-252.37 and i expect a bounce within it for bearish rally towards the line 181.67 and a possible penetration below it. Remain flat temporarily and wait for a bounce within 261.98-252.37 to sell #Tesla shares with your take profit at 181.67 and stop loss at 296.80, in case this take profit is hit and there’s a clear breach below it wait for a correction to it to confirm further downwards movements of this company’s shares before you pick short positions towards the key level 97.01.

Trade recommendation

Remain flat temporarily. 

Imelda Maseno
Analyst of «FreshForex» company
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