ING Bank has seen some large volume surges in the last two months suggesting the potential for some capitulation low. On the MACD we can see a positive divergence in momentum. The relative strength is obviously very weak as is the SCTR ranking.
The weekly chart also has some nice information. We can see the two volume pillars are the largest in 5 years! Recently the full stochastic tried to move above 20 and pulled back but so far has a higher low. This positive divergence is worth keeping an eye on especially in light of the volume spike. The PPO and the Relative Strength both have meaningful trend lines that if breached would probably suggest an important change in trend for the stock.
On this week's Commodity Countdown video I cover off Oil, Natural Gas, Steel, Coal, bonds, currencies and breadth. Agriculture had a rough week. Thanks for watching.
The Final Bar.
I appeared on MarketWatchers Live August 24th, 2018 hosting a segment called Everything StockCharts. You can see the entire show here.
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Greg Schnell, CMT, MFTA
Senior Technical Analyst, StockCharts.com
Author, Stock Charts for Dummies