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

 #IBM weekly

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

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

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.