Markets in panic mode, but we still see opportunities in - CVX, UPS, ETN and PSA

Daily Chart -[BEARISH ↘ **] CVX shaped a bearish breakout of a triangle to the downside. As long as price is holding below 154.10 resistance, a further push down towards 144.35 support then 138.90 support is possible. Technical indicators are advocating for a bearish scenario as well.

Daily Chart -[BEARISH ↘ **] UPS shaped a bearish exit of a descending wedge. A pause below 131.15 resistance is expected before shaping a new drop lower through 123.70 support towards 103.30 support. Technical indicators are advocating for a bearish scenario as well.

Daily Chart -[BEARISH ↘ **] ETN shaped a bearish exit of a triangle reversal pattern. As long as price is holding below 308.00 resistance, a further drop towards 264.40 support then 230.45 support is possible. Technical indicators are advocating for further downside as well. MA has also shaped a 'death cross' confirming the downtrend.

Daily Chart -[BULLISH ↗ **] PSA is holding above a short term ascending trendline support and is challenging previous swing high. As long as price is holding above 298.60 support, a further push higher towards 325.80 resistance then 345.10 resistance is expected. Technical indicators are advocating for a bullish scenario as well.

Daily Chart -[BULLISH ↗ **] 4921 JP gapped higher and is consolidating sideways. As long as price holds above 2701.50 support, a further push higher towards 2960 resistance then 3175 resistance is expected. Technical indicators are bullish as well.

Prepared by:

Isaac Lim CMT, CFTe
Chief Market Strategist

This report is provided for informational and general circulation purposes only and should not be construed as an offer, solicitation, or recommendation for the purchase or sale of securities, futures, or other investment products. It does not take into consideration any particular needs of any person. This advertisement has not been reviewed by the Monetary Authority of Singapore.