Remain short with #IBM | 29 March 2019

#IBM weekly 

Technical observation

Last week, #IBM went down as predicted and I still expect more bearish momentum of this company’s shares this week, if you picked short positions within the resistance zone 142.76-140.43 after a bounce, hold on to that position with your take profit at 109.78 and stop loss at 149.29 and in case you had not sold these shares yet, you can still sell it now. Should there be a decline to 109.78 followed by a clear breach below it wait for a correction to it to confirm further bearish movements of this commodity before you continue short. Long positions may only be recommended above 142.76-140.43 in case of a clear breakout above it.

Trade recommendation

Remain short with your take profit at 109.78.

#GazpromNef,weekly

Technical observation

The commodity on the weekly chart above rose towards a key line 389.53 last week, more bullish momentum can still be expect this week and the week to follow. If you bought this commodity within the supportive zone 317.35-312.01, hold on to that trade with your take profit at 389.53 and stop loss at 285.78 but if you had not bought it yet, you can still buy #GazpromNef now with your take profit at 389.53 in case you are a bit sceptic to trade this commodity now, wait for another correction to 317.35-312.01 to buy. As long as #GazpromNef is contained above 317.35-312.01 only long positions look ideal and may be advisable.

Trade recommendation

Remain long with your take profit at 389.53 and stop loss at 285.78.

#FedEx,weekly

Technical observation

Following the rise to the resistance zone 183.59-180.02 and a rejection within it, #FedEx shares declined in value last week and I still expect it to decline further this week towards the supportive key line 126.93.If you picked short position within the above mentioned zone after a bounce hold on to that position with your take profit at 126.93 and stop loss at 196.97.In case of a decline to 126.93 and a clear breach below it, a further decline in value of this company’s shares can be anticipated. However, should there be a clear breakout above 183.59-180.02, upward momentum of this commodity can be expected after a correction to it.

Trade recommendation

Remain short with your take profit at 126.93 and stop loss at 196.97.