Betting On GFA To Turnaround Your Portfolio

GFA stands for Ghana Football Association. It is the governing body of association football in Ghana, based in Accra. But what we are after today is Gafisa (GFA). GFA is one of the largest cconstruction and real residential segment in Brazil. The stock has almost completed an 11 months ascending triangle. A break out the neck line at 3.55 may be marking a reversal for GFA and an initial target of $4.8

gfa2


Frontier Takes Off

Frontier Communications (FTR) completed an 18 months ascending triangle by closing above $5 on 3.7x the avg daily volume.  The move was initiated by a 3 months consolidation pattern in yellow. Implied target is $7. Note that FTR has a dividend yield of 8%.

ftr

 

STOP searching for your next trade & subscribe or follow me @theartofchart


A Guide To American Houses

Now that the FED is out of the way, lets look at a couple of related ETFs, first up is Homebuilders etf (XHB).

Note the bull trap last month. Now its possible that the 6-months symmetrical triangle is close to another breakout with no bull traps (god willing). Target is $35.

xhb

Here on the Home Construction (ITB) we have a continuation H&S bottom pattern that is almost complete with a neckline at 23.90. Interestingly the right shoulder has morphed into an ascending triangle giving the pattern some more power to break out. Target is $26.50.

itb


All Clear For Zynga’s Ascent?

Zynga (ZNGA) is in the process of completing a 1 year Ascending Traingle. Ascending triangles breakout most often upwards and act as a reversal. There is one factor though that makes buying this breakout tricky which is the Gap from between the breakout line at 4.05 and 4.88. Gaps act as resistance zones and this area has yet to be cleared out. The gap will probably increase the time of the ZNGA reaching its target of $6 (if the breakout occurs)

znga


A Deal In Steel

AK Steel (AKS) & US Steel (X) have both been forming around 5-months ascending triangles with neck-lines at 3.80 & 19.70, respectively. Looking closer inside the triangles both have a clean Complex H&S Bottom in the making.

AKS, Steel, Iron

AKS Daily

X, Steel, Iron

X Daily

ETF fans can use (SLX) showing a similar H&S Bottom that has broke out and targets 51.

Iron, Steel

SLX Daily