Technical analysis and charts

I’ve recently opened a Trading212 account. I wondered whether anybody interested in a a thread for fun discussing charts and technical analysis (not trying to recommend or give advice or predict).

I tend to rely heavily on technical analysis and use several indicators included some not supported on trading212 charts. On stock that’s interesting at the moment is BNTX. After its high on 29/11/2021 (because of the CV19 vaccine) the price fell by roughly a half. Since then it has reliable traded in a channel between 122 and 185 (depending on where exactly you decide to place the SR lines) and an inner channel between 134/138 and 168. The last time (15/12/2022) that it tested the upper resistance it went a little higher than previous but indicators suggested that was actually with less force. For the last 3 months its been on a cyclic downtrend to the support lines. The inner channel support line at 138 was held for longer than previous times and it then fell to the main channel support line at 122. Today the price was just below the sloping resistance taken from the December 2022 peak. Thus in the next 3 days it will be in a reducing pennant/triangle between the downward resistance and channel support. Multiple indicators (Stochastic, Boom hunter, MACD…) and the price is Hull MA and broken above the LSMA and Arnaud Legoux MA)

If there is interest in having a discussion about charts I’m happy to post other charts.

Just a recommendation from my side is to support your fundamental analysis with technical in order to determine points of entry/stop loss. Technical analysis by itself is considered just art.

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