Thread by @malteseinvest

Analysis: #NYSE $INGR

Case 299 #Ingredion Incorporated

DISCLAIMER: The analysis is strictly for educational purposes and should not be construed as an invitation to trade.

#INGR 1/4

Chart 1
Weekly Chart: The price drop seen in Mar. 2020 found #support on the #confluence of the Fib. 0.618 and the SMA 200 at 61.75/46 respectively but has failed to close above the SMA 20 at 86.74 - higher up .....

INGR 2/4

..... #trendline #resistance at 93.56 and #Fib. 0.382 at 94.09. Watch for a sustained close below 73.10 to will retarget the #SMA 200.

INGR 3/4

Chart 2
Daily Chart: Price needs to close above the #pivot at 88.44 to target channel top at 93.07 - a close above for 94.40 for 100.65.

The #Strategy is printed on the image.

$INGR 4/4