August 13 Chart of the Day - Chemours

Highly precise price action technical analysis offers the strongest trading edges and the most opportunities across the markets, making it the foundation of our reviews.

For months, traders have been watching Chemours (CC) grind through persistent selling pressure, wondering if the chart would ever find solid footing.

The question we’ve heard most often: is the bottom officially in?

After yesterday’s earnings reaction and the recent failed breakdown move, price action is sending a strong signal.

Technically speaking, the answer is yes — and that shift could mark the start of a meaningful change in the trend narrative.

We'll review the chart from a price action perspective to identify potential levels of interest in both directions.

Consistent profitable investing and/or trading requires a structured, rules-based approach to price action analysis. Proven processes, disciplined risk-reward management, and precise execution create the foundation for long-term success.

When combined with powerful mental performance strategies, this method becomes the ultimate blueprint for thriving in any market, on any time frame. 

As requested, this analysis will take a price action technical analysis approach to assess key levels and potential next price moves for this chart.

Since May 2023, we've showcased over 575+ Charts of the Day and provide a Free Quick Start Guide to traders with ambitious income goals for our patent-pending NeuroTrading Method™.

Monthly Chart 

On the monthly chart we can see that price has been in an overall down trend since its $58.08 all time highs back in 2017.

With plenty of volatility traders have had much to be happy with while investors seemingly have been disappointed.

This kind of movement highlights why a cautious and well-informed approach is essential when evaluating a stock’s short to mid term outlook.

Weekly Chart

On the weekly chart, we can see with much more clarity the overall selling pressure during the past few years.

But, has the trend reversed with this latest price surge up?  

Possibly.

A notable and common "bottom" pattern for any chart is a "failed break down" of a previous support level and in this case we can clearly see where that occurred at the $9.33 level before moving up towards previous structure. 

That's not to say that price will continue back to fresh highs anytime soon but maybe, just maybe price can break through previous support turned resistance levels.

Technically speaking, it wouldn't be surprising to see price continue moving up to the $16-$18 area before making a more permanent trend decision.

It goes without saying though, the only guarantee in the markets is that price cycles.  It cycles up and it cycles down across all time frames and all charts and rarely, if ever, moves in a straight line.

Only time will tell for sure what price will do next...

We’ve combined Fibonacci levels with key support/resistance zones and trend analysis to pinpoint potential price levels of interest and future targets.

With precision-focused charts like these, both traders and investors can confidently build and execute their strategies.

So what's next? 

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