Sell #IBM within 142.76-140.43 | 22 March 2019

 #GazpromNef,weekly

Sell #IBM within 142.76-140.43

Technical observation

#GazpromNef declined steadily to the supportive zone 317.35-312.01 and is currently rallying within it, I expect a bounce within it for possible bullish momentum towards 389.53 and a breach above it for a further rise in value of these shares. Should there be no rejection within 317.35-312.01 but a clear penetration below it with a big red candle, a possible decline in value of this company’s shares can be anticipated towards the key line 240.61, but as long as this commodity is contained above 317.35-312.01 only long positions can be advisable. You can buy #GazpromNef within 317.35-312.01 with your take profit at 389.53 and stop loss at 281.57.

Trade recommendation

Buy #GazpromNef within 317.35-312.01 with your take profit at 389.53 and stop loss at 281.57.

#MegaFon,weekly

Sell #IBM within 142.76-140.43

Technical observation

For several weeks #MegaFon shares traded below a trend line with value between 690.0-622.1, recently a breakout was seen when this commodity went above the line and rose for some time before correcting to it and was contained above the line. I expect bullish momentum in value of these shares towards the resistance zone marked at 758.7-749.7.You can pick long positions now along the trend line with your take profit at 749.7 and stop loss at 562.8.In case of a clear penetration above 758.7-749.7, wait for a retracement to it and a rejection within it to buy this commodity with your take profit at 932.3.

Trade recommendation

Buy #MegaFon now with your take profit at 749.7 and stop loss at 562.8.

 

 #IBM,weekly

Sell #IBM within 142.76-140.43

Technical observation

Last week this commodity rose in value instead of declining as predicted, I still expect bearish momentum to the lower side as long as #IBM is contained below the resistance zone 142.76-140.43.You can still pick short positions within the above mentioned zone with your take profit at 109.78 and stop loss at 149.00.Should #IBM continue to rise in value and penetrate above 142.76-140.43, bullish movements towards the key line 172.59 can be anticipated. In that case you can wait for a retracement to the just broken zone and a rejection within it to buy this commodity with your take profit at 172.59 and stop loss at 131.95.

Trade recommendation

Sell #IBM within 142.76-140.43 with your take profit at 109.78 and stop loss at 149.00.

 

Imelda Maseno
Analyst of «FreshForex» company
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